Wilbur Ross (Trades, Portfolio), founder of private equity firm WL Ross & Co, is known for restructuring failed companies. Ross, recognized as one of the world’s billionaires, kept a low investment profile in the third quarter; he only has nine stocks in his portfolio.
New buy: Autohome Inc (ATHM, Financial)
He made one buy during the quarter – a new holding for him – in Autohome Inc, a Beijing-based online provider of independent and interactive content to car buyers and owners in China. Ross bought 18,813 shares at an average price of $41.67. The purchase had a 0.08% impact on his portfolio.
Divestiture and reduction
Ross sold all 248,058 of his shares in Harmonic Inc (HLIT, Financial), a California-based company that develops and markets video routing, server and storage products for companies that produce, process and distribute video content for television and the Internet. The shares were sold for an average price of $6.46, and the sale had a -0.14% impact on his portfolio.
Ross also reduced his stake in Navigator Holdings Ltd (NVGS, Financial), London-based operator of the world's largest fleet of liquefied gas carriers, by 1,406,634 shares. Ross sold the shares for an average price of $29.10.The impact on his portfolio was -3.22%.
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