Investor J. Kyle Bass is truly unique. What differentiates the principal of Hayman Advisors from other super investors? Heβs politically connected but reportedly does not vote and does not read the local newspaper, according to D Magazine. Kyle Bass is also well known for his investment analysis of the subprime crisis and is reported to have made around a half a billion dollars betting against subprime CDOs at a time when very few people could understand what CDOs are.
The recently updated portfolio of Hayman Advisors shows eight stocks, one of them new, with a total value of $165 million and a quarter-over-quarter turnover of 47%. According to GuruFocus research, Guru Kyle Bass also sold out holdings in these five companies as of March 31, 2013. His trading style in the first quarter of 2013 shows a pattern of holding diverse companies for only two or three quarters before getting out:
Sold Out: Vivus (VVUS, Financial) β Biotechnology
Kyle Bass sold out his position of 1,545,336 shares at an average price of $12.42 for a gain of 17.3%. Bass held VVUS for two quarters; in the previous quarter he had a loss of 0.4%.
This trade impacts his portfolio by -12.1%.
The current share price is $14.57 compared to past valuations.
Sold Out: Newcastle Investment Corporation (NCT, Financial) β REIT - Diversified
As of March 31, 2013, Kyle Bass also sold out his position of 2,369,433 shares at an average price of $4.97 for a gain of 1.6%. Bass held NCT for two quarters; in the previous quarter he had a gain of 31.94%.
This trade impacts his portfolio by -12%.
The current share price is $5.05 compared to past valuations.
Sold Out: Hyatt Hotels Corporation (H, Financial) β Lodging
Kyle Bass also sold out his position of 350,000 shares at an average price of $41.00 for a loss of 0.2%. Bass held Hyatt for three quarters; in the fourth quarter of 2012 he had his highest gain of 10.4%.
This trade impacts his portfolio by -7.9%.
The current share price is $40.93 compared to past valuations.
Sold Out: Dynegy Inc. (DYN, Financial) β Utilities β Independent Power Producers
As of March 31, 2013, Kyle Bass sold out his position of 524,188 shares at an average price of $20.55 for a gain of 16.6%. Bass held DYN for two quarters; in the fourth quarter of 2012 he had his highest gain of 29.4%.
This trade impacts his portfolio by -5.8%.
The current share price is $23.96 compared to past valuations.
Sold Out: Realogy Holdings Corp. (RLGY, Financial) β Real Estate Services
Kyle Bass also sold out his position of 100,000 shares at an average price of $45.19 for a gain of 16.4%. Bass held RLGY for two quarters; in the fourth quarter of 2012 he had his highest gain of 40.3%.
This trade impacts his portfolio by -2.4%.
The current share price is $52.62 compared to past valuations.
Kyle Bass founded Hayman Advisors in 2005 in Dallas, Texas. His company Hayman Advisors serves as the investment manager to the Hayman Capital Master Fund LP and Japan Macro Opportunities Master Fund LP.
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The GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.
Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.
The recently updated portfolio of Hayman Advisors shows eight stocks, one of them new, with a total value of $165 million and a quarter-over-quarter turnover of 47%. According to GuruFocus research, Guru Kyle Bass also sold out holdings in these five companies as of March 31, 2013. His trading style in the first quarter of 2013 shows a pattern of holding diverse companies for only two or three quarters before getting out:
Sold Out: Vivus (VVUS, Financial) β Biotechnology
Kyle Bass sold out his position of 1,545,336 shares at an average price of $12.42 for a gain of 17.3%. Bass held VVUS for two quarters; in the previous quarter he had a loss of 0.4%.
This trade impacts his portfolio by -12.1%.
The current share price is $14.57 compared to past valuations.
Sold Out: Newcastle Investment Corporation (NCT, Financial) β REIT - Diversified
As of March 31, 2013, Kyle Bass also sold out his position of 2,369,433 shares at an average price of $4.97 for a gain of 1.6%. Bass held NCT for two quarters; in the previous quarter he had a gain of 31.94%.
This trade impacts his portfolio by -12%.
The current share price is $5.05 compared to past valuations.
Sold Out: Hyatt Hotels Corporation (H, Financial) β Lodging
Kyle Bass also sold out his position of 350,000 shares at an average price of $41.00 for a loss of 0.2%. Bass held Hyatt for three quarters; in the fourth quarter of 2012 he had his highest gain of 10.4%.
This trade impacts his portfolio by -7.9%.
The current share price is $40.93 compared to past valuations.
Sold Out: Dynegy Inc. (DYN, Financial) β Utilities β Independent Power Producers
As of March 31, 2013, Kyle Bass sold out his position of 524,188 shares at an average price of $20.55 for a gain of 16.6%. Bass held DYN for two quarters; in the fourth quarter of 2012 he had his highest gain of 29.4%.
This trade impacts his portfolio by -5.8%.
The current share price is $23.96 compared to past valuations.
Sold Out: Realogy Holdings Corp. (RLGY, Financial) β Real Estate Services
Kyle Bass also sold out his position of 100,000 shares at an average price of $45.19 for a gain of 16.4%. Bass held RLGY for two quarters; in the fourth quarter of 2012 he had his highest gain of 40.3%.
This trade impacts his portfolio by -2.4%.
The current share price is $52.62 compared to past valuations.
If you are not a Premium Member, we invite you for a 7-day Free Trial.
The GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.
Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.
