LM

LUMINUS MANAGEMENT LLC

13F
LUMINUS MANAGEMENT LLC
Last update 2024-02-18 17 Stocks (2 new)
Value $216.00 Mil Turnover 13 %
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LUMINUS MANAGEMENT LLC Profile

Luminus Management LLC is a hedge fund sponsor based out of New York City, New York. The company was originally established in 2002 by founder Paul Segal, who, although not actively involved with the company anymore, has placed Radion N. Segal as the trustee of the company. Luminus Management has grown from its inception to now have an additional office in Houston, Texas and has expanded to 25 employees of which 17 are investment professionals. The company utilizes a long short strategy to “capitalize on investment opportunities across the capital structure of companies primarily in power, utility and related subsectors by taking positions in securities including, but not limited to, equities, bonds, convertibles, preferred securities, and bank debt.” The firm seeks to locate inefficiencies primarily in the power sector to analyze the complex industry situations, utilizing a fundamental investment methodology with a macro sector overlay while managing risks. Luminus Management invests most heavily in the utilities and telecommunications sector, which alone makes up half of its total asset allocations, and also invests in the energy, materials, transports, industrials, and finance sectors, among other sectors to a lesser degree, in order of decreasing allocations. The company keeps its holdings an average of 2.45 quarters and, in the most recent quarter, had a turnover rate of approximately 65.3%. Luminus Management manages over $5.4 billion in total assets under management spread across 8 total accounts, all of which are discretionary accounts. Although the company’s total number of accounts has been somewhat volatile in recent years, its total assets under management has been increasing, growing significantly from $1.1 billion back in 2011 to approaching five times that amount today. Luminus Management currently caters solely to pooled investment vehicles and takes advisory fees in the form of a percentage of assets and various performance based fees.
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