Assessing Davidson Kempner Capital Management's 4Q13 positions

Assessing Davidson Kempner Capital Management's 4Q13 positions (Part 1 of 7)

Assessing Davidson Kempner Capital Management’s 4Q13 positions

Davidson Kempner Capital Management

Davidson Kempner Capital Management LLC is a hedge fund manager led by president Thomas Kempner, Jr., who joined the firm in 1984. It has about $22 billion in assets under management. The company’s reportable fourth quarter portfolio totaled $2.59 billion, with 109 holdings. The fund initiated positions in Perrigo Co. PLC (PRGO), Lamar Advertising Co. (LAMR), Apple Inc. (AAPL), and LSI Corp. (LSI). The fund exited positions in Whitewave Foods (WWAV) and McDonald’s Corp. (MCD).

Davidson4QEnlarge GraphThe firm was originally founded in May 1983 by Marvin H. Davidson as M.H. Davidson & Co. In 1990, current principals Kempner and Scott Davidson renamed the firm to Davidson Kempner Capital Management. The firm invests in distressed debt and the stocks of companies that are undergoing corporate restructuring, including mergers, spinoffs, liquidations, and recapitalizations. It also uses event-driven strategies, including merger arbitrage, long/short, and convertible arbitrage.

Davidson holdingsEnlarge Graph

The Realist Discussions