Company & Industry Overviews
Oil prices can play a crucial part in determining the direction of REITs. Let’s talk about a few of the positives and negatives affecting REITs here.
Davidson Kempner exited a position in JPMorgan Chase & Co. (JPM) that accounted for 1.29% of the fund’s 1Q14 portfolio. This position was initiated in 1Q14. JPMorgan Chase is a leading global financial services firm. It has $2.5 trillion assets. It has operations worldwide.
Davidson Kempner exited a position in Omnicom (OMC) that accounted for 1.93% of the fund’s 1Q14 portfolio. The position was initiated in 1Q14. Omnicom is a leading global advertising, marketing, and corporate communications company. It offers its services to over 5,000 clients in more than 100 countries.
Davidson Kempner initiated a new position in WL Ross Holding (WLRH) that accounted for 1.85% of the fund’s 2Q14 portfolio. WL Ross is a newly organized blank check company. It was formed by billionaire Wilbur Ross. It was formed to affect a merger, capital stock exchange, asset acquisition, stock repurchase, stock purchase, reorganization, or similar business combination with one or more businesses.
Davidson Kempner initiated a new position in Ally Financial Inc. (ALLY) that accounted for 5.5% of the fund’s 2Q14 portfolio. Ally Financial is currently the second largest position in the fund’s portfolio. Ally Financial is an automotive financial services company. It has ~95 years of experience.
Davidson Kempner Capital Management LLC is a hedge fund manager. It manages ~$22 billion in assets. In 2Q14, Davidson Kempner Capital added new positions in Ally Financial Inc. (ALLY), WL Ross Holding (or WLRH), Newell Rubbermaid (NWL), and B/E Aerospace (BEAV).