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Leucadia National Corp. Buys Endwave Corp., Millenium India Acquisition Company Inc.

Leucadia National just filed its first quarter equity holdings. The firm likes to buy distressed companies at fire sale prices. They just added two new positions, and AmeriCredit. These are the details.

Leucadia is run by its chairman Ian Cumming and president Joe Steinberg. They bought Endwave Corp., Millenium India Acquisition Company Inc. during the 3-months ended 03/31/2010, according to the most recent filings of his investment company, Leucadia National. Ian Cumming owns 7 stocks with a total value of $2 billion. These are the details of the buys and sells.

For the details of Ian Cumming's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Ian+Cumming

This is the sector weightings of his portfolio:

Financials 99.9%
Consumer Services 0.1%


These are the top 5 holdings of Ian Cumming

  1. Jefferies Group Inc. (JEF) - 48,585,385 shares, 58.1% of the total portfolio.
  2. AmeriCredit Corp. (ACF) - 33,900,440 shares, 40.69% of the total portfolio. Shares added by 0.89%
  3. International Assets Holding Corp. (IAAC) - 1,384,985 shares, 1.05% of the total portfolio.
  4. Capital Southwest Corp. (CSWC) - 19,776 shares, 0.09% of the total portfolio.
  5. TravelCenters Of America LLC (TA) - 275,308 shares, 0.05% of the total portfolio.


Added: Americredit Corp. (ACF)

Ian Cumming added to his holdings in Americredit Corp. by 0.89%. His purchase prices were between $18.83 and $24.2, with an estimated average price of $21.96. The impact to his portfolio due to this purchase was 0.36%. His holdings were 33,900,440 shares as of 03/31/2010.

AmeriCredit Corp. is a independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. Americredit Corp. has a market cap of $3.08 billion; its shares were traded at around $23 with a P/E ratio of 19 and P/S ratio of 1.5.

New Purchase: Endwave Corp. (ENWV)

Ian Cumming initiated holdings in Endwave Corp.. His purchase prices were between $2.28 and $2.95, with an estimated average price of $2.56. The impact to his portfolio due to this purchase was 0.01%. His holdings were 70,000 shares as of 03/31/2010.

Endwave Corp. provides radio frequency subsystems that enable thetransmission and reception of data signals in high data rate wireless systems. Endwave Corp. has a market cap of $27.6 million; its shares were traded at around $2.85 with and P/S ratio of 1.4.

New Purchase: Millenium India Acquisition Company Inc. (SMCG)

Ian Cumming initiated holdings in Millenium India Acquisition Company Inc.. His purchase prices were between $1.1216 and $1.7, with an estimated average price of $1.42. The impact to his portfolio due to this purchase was 0.01%. His holdings were 120,000 shares as of 03/31/2010.

Millenium India Acquisition Company Inc. has a market cap of $17.6 million; its shares were traded at around $2.23 .


Rating: 1.5/5 (6 votes)

Comments

dleshner1
Dleshner1 premium member - 3 years ago
Market Caps of 17 million SMCG and 27 million for ENWV. Guess that limits your downside! LOL Wouldn't bet against Mr Cummings on anything. Time to buy some and hope these are one of those stocks that make you look brilliant one day. :)

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