Overview: Assessing Magnetar Financial’s 1Q14 positions

Market Realist

Must-know: Magnetar Financial's 1Q14 positions (Part 1 of 7)

Magnetar Financial LLC

Magnetar Financial LLC, based in Evanston, Illinois, was founded in 2005 by Alec Litowitz and Ross Laser. The size of the fund’s portfolio was $4.54 billion in 1Q14. In this series, we’ll discuss some of the main positions the fund traded during the first quarter.

The fund started new positions in Exterran Holdings Inc. (EXH), Rowan Companies Plc. (RDC), SiriusXM (SIRI), and Yahoo! Inc. (YHOO). Top positions sold were EOG Resources (EOG) and EQT Corp. (EQT).

The fund’s website notes that it operates in and across three major investment strategies: Global Event Driven, Fixed Income, and Energy. Within these areas, it invests in more than a dozen distinct sub-strategies. The fund adds, “Across these strategies, we seek to combine equity and fixed income skills and a relative value catalyst-driven approach. Our investment professionals focus on the full spectrum of ‘equity to credit’ and ‘private to public’ transactions. While we strive to pursue traditional opportunities in each of these areas, we also work to expand upon traditional opportunity sets by sourcing and evaluating opportunities that capitalize on market dislocations. We use a systematic approach in an effort to identify and capture alpha.”

 

 

Continue to Part 2

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