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Davidson Kempner Trades Key Positions During 4Q14

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Davidson Kempner Capital Management’s 4Q14 positions

Davidson Kempner Capital Management is a hedge fund manager that is led by its president, Thomas Kempner, Jr., who joined the firm in 1984. The company manages ~$22 billion in assets. In this series, we’ll discuss some of the top positions the company traded during 4Q14.

The fund’s reportable fourth quarter portfolio totaled $3.1 billion, up from $2.1 billion in 3Q14. Davidson Kempner Capital added new positions in Apple (AAPL) and Kinder Morgan (KMI) and exited its positions in Pfizer (PFE) and CBS (CBS). The fund increased its holdings in Time Warner (TWX) and Liberty Global (LBTYA) and decreased its holdings in Newell Rubbermaid (NWL).

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About Davidson Kempner

The 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.

In the next part of this series, we’ll discuss Davidson Kempner’s new position in Apple, which accounts for 17.95% of the portfolio of the Technology Select Sector SPDR Fund (XLK).

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