Dmitry Balyasny's hedge fund firm Balyasny Asset Management has filed a 13G with the SEC on Maguire Properties (MPG). In the filing, we see that Balyasny has disclosed a 5.35% ownership stake in the company. This was due to activity on November 3rd and Balyasny now holds 2,564,650 shares. This is an increase because as per Balyasny's 13F filing which detailed holdings as of September 30th. At the time, the fund owned 898,172 shares.
This is interesting because fellow hedge fund Dan Loeb's Third Point LLC had owned shares of MPG in the past. However, when we covered its portfolio holdings, we saw Third Point had completely sold out of Maguire. (And, we had noted its selling back in July as well). As the saying goes, there's always two sides to a trade. Balyasny was buying shares of MPG and Dan Loeb was selling.
Our post today really marks the first time we've looked at portfolio movements over at Balyasny. For those of you who may be unfamiliar, Balyasny Asset Management (BAM) was founded by Dmitry Balyasny in 2001 and has over 100 employees with the main office in Chicago and other offices in Greenwich, Hong Kong, London, Mumbai, and New York. The fund's investment process involves fundamental research by sector as well as dynamic capital allocation. It places a heavy weighting on experience and organizes its teams so that it can concentrate on any given idea. Balyasny like to
focus on misunderstood situations and companies/sectors undergoing turbulent change from different perspectives.
Through its research process the fund seeks to identify unique ideas with attractive risk return. We'll hopefully be covering Balyasny more frequently from here on out and will add the name to our hedge fund portfolio tracking series.
Taken from Google reader
Maguire Properties is "a self-administered and self-managed real estate investment trust (REIT). The Company is the owner and operator of Class A office properties in the Los Angeles Central Business District (LACBD) and is primarily focused on owning and operating office properties in the high-barrier-to-entry Southern California market."