James Dinan runs York Capital Management. He founded the firm in 1991 with $3.6 million mostly from colleagues at the investment bank Donaldson, Lufkin & Jenrette (DLJ), which was bought by Credit Suisse in 2000. In 2010, Dinan sold a 30% stake in York to Credit Suisse for a reported $425 million. York, which manages $15 billion in AUM, generated net returns of 40% in 2009 and 7.5% in 2010 but was down 5.9% last year.
Here are James Dinan’s top 10 stock picks at the end of March:
Company Ticker Value ($000s) Activity DOLLAR THRIFTY AUTOMOTIVE DTG 428,101 0% CITIGROUP INC C 322,238 96% GOODRICH CORP GR 302,129 1% HERTZ GLOBAL HOLDINGS HTZ 295,389 62% GENERAL MOTORS CO GM 234,977 11% BANK OF AMERICA CORP BAC 226,972 585% TYCO INTERNATIONAL TYC 221,911 87% SARA LEE CORP SLE 179,654 58% ISHARES TRUST IWM 167,690 24% CATERPILLAR INC CAT 162,177 New New additions to York Capital this quarter include Caterpillar (CAT), Illumina (NASDAQ: ILMN), United Rentals (URI), Teradata (TDC), and United Technologies (UTX). Big additions were made to Bank of America (NYSE: BAC), Citigroup (NYSE: C), British Petroleum (BP), Tyco (TYC), and Chemtura (CHMT). With Roche walking away from ILMN after refusing to offer more than $51.00, we think there’s an interesting opportunity to buy as shares dip. ILMN has an attractive portfolio of genetic analysis solutions that plays well into molecular diagnostics, which we think other large companies would be interested in buying.