Seeking Alpha
Recommended for you:
Newsletter provider, fund holdings, insider ownership
Profile| Send Message|
( followers)  

Neil Chriss was the former SAC Capital Advisors quant chief. He founded the hedge fund Hutchin Hill Capital with the backing of Meritage Fund, Ltd in late 2007. Hutchin Hill Capital runs both quantitative and fundamental strategies focused on systematic, process-driven strategies operating in a broad variety of highly liquid asset classes and markets. Renaissance Technologies' Meritage Fund provided $300 million multi-year commitment of capital to Hutchin Hill.

The fund recently hired Thomas J. Sargent from New York University, this year’s co-recipient of the Nobel Prize in economic science, as a consultant. As Mr Sargent’s major research focused on the relationship between economic policy and macroeconomic variables, his joining can help the fund figure out the effect of economic policy changes on people’s thinking, which would help major decisions in capital allocation and risk management in the fund. Of course it is always possible that Hutchin Hill could be the next Long Term Capital Management which had a ton of Nobel Prize winners in its roster. It is also quite obvious that Alan Greenspan's presence didn't help John Paulson's 2011 returns. So maybe investors shouldn't expect a miracle from Sargent's addition to Hutchin Hill.

Below we complied a list of Neil Chriss’ top 20 positions and discuss the largest 7 positions in detail.

Company

Ticker

Value (x1000)

Return since June 30

DOLLAR THRIFTY AUTOMOTIVE GRP IN

DTG

40022

-16.78%

MARATHON OIL CORP

MRO

36381

-18.21%

WILLIAMS COS

WMB

32519

0.63%

LIBERTY MEDIA CORP

LSTZA

30580

-9.29%

JOHNSON & JOHNSON

JNJ

28271

-3.47%

EL PASO CORP NEW

EP

26765

22.88%

SUNOCO INC

SUN

24855

-10.60%

HERTZ GLOBAL HOLDINGS INC

HTZ

23423

-29.22%

INTERMUNE INC

ITMN

21510

-30.32%

ADVANTAGE OIL & GAS LTD

AAV

13249

-35.44%

SOUTHERN UNION CO NEW

SUG

12045

4.43%

EBAY INC NEW

EBAY

11295

-1.52%

I T T CORP

ITT

10607

-31.33%

RALCORP HOLDINGS INC NEW

RAH

10390

-5.76%

MOSAIC CO. NEW

MOS

10160

-16.56%

F 5 NETWORKS INC NEW

FFIV

9923

-5.10%

ANCESTRY COM INC NEW

ACOM

9727

-44.33%

GRIFOLS SA NEW

GRFS

9379

-20.51%

CREE RESEARCH INC NEW

CREE

8398

1.12%

NETLOGIC MICROSYSTEMS INC NEW

NETL

8084

22.09%

Dollar Thrifty Automotive Group (NYSE:DTG) operates in the U.S. and Canada, and through its Dollar and Thrifty brands, is primarily engaged in the business of the daily rental of vehicles to business and leisure customers through company-owned stores. It lost 16.78% since the end of June this year. Its third quarter earnings jumped 35 percent as car rental revenue increased and operating expenses declined. Net income for the third quarter was $66.6 million up from $49.2 million for the third quarter of 2010. Revenue was $451.7 million, a 2 percent increase from $443.5 million a year earlier. Its EPS is $3.95 during the past 12 months. DTG is expected to earn $4.7 in 2011 and $4.61 in 2012. The stock recently traded at $61.01. Its current P/E ratio is 15.57 and forward P/E ratio is 12.77. Executives at CAR and HTZ were entangling in a bidding war to acquire DTG last year. But the proposed purchase prices climbed ever higher, quickly sapping any accretive possibilities for the winner, so it's perhaps best that no deal was made ultimately. Neil Chriss had a $40 million position in DTG at the end of June. Jim Simons had $86 million invested in DTG during the second quarter.

Marathon Oil Corporation (NYSE:MRO), through its subsidiaries, operates as an international energy company with operations in the United States, Canada, Africa, the Middle East, and Europe. It lost 18.21% since the end of June this year. The third quarter net income of the company fell to $405 million compared to $696 million a year earlier, a decline of 41.8% from the year earlier quarter. Revenue rose to $3.8 billion from $2.95 billion in the year earlier quarter. The company is expected to earn $4.02 in 2011 and $3.8 in 2012. The stock recently traded at $26.73. Its forward PE ratio is 6.47. Neil Chriss had a $36 million position in MRO at the end of June. Ken Griffin also had $47 million invested in MRO.

The Williams Companies, Inc. (NYSE:WMB), through its subsidiaries, engages in finding, producing, gathering, processing, and transporting natural gas primarily in the United States. It returned 0.63% since the end of June this year. The company is expected to earn $1.52 in 2011 and $1.66 in 2012. The stock recently traded at $30.61. Its forward PE ratio is 17.69. Neil Chriss had a $33 million position in WMB at the end of June. Leon Cooperman had $83 million invested in WMB.

Liberty Starz Group (LSTZA), through its subsidiary, Starz, LLC, focuses primarily on video programming businesses in the United States. It lost 9.29% since the end of June this year. The company has $1.13 billion in net cash on its balance sheet. The company is expected to earn $4.72 in 2011 and $5.55 in 2012. The stock recently traded at $68.22. Its forward PE ratio is 14.45. Neil Chriss had a $31 million position in LSTZA at the end of June.

Johnson & Johnson (NYSE:JNJ) engages in the research and development, manufacture, and sale of various products in the health care field worldwide. It lost 3.74% since the end of June this year. The company reported its third quarter profit amounted to $3.2 billion, which is down from $3.42 billion a year earlier. Its third-quarter profit fell 6 percent because larger overhead and production costs and a one-time charge offset higher foreign sales. Its revenues for the third quarter increased 6.8% year-over-year to $16 billion. JNJ has $10.95 billion in net cash on its balance sheet. The company is expected to earn $4.97 in 2011 and $5.24 in 2012. The stock recently traded at $64.1. Its forward PE ratio is 12.81. Neil Chriss largely increased his holding of JNJ by 38-fold during the second quarter and had $28 million invested at the end of June. Warren buffet had more than $2.8 billion invested in JNJ (see Warren Buffet’s top picks).

El Paso Corporation (EP) operates in the natural gas transmission, and exploration and production sectors of the energy industry primarily in the United States. It returned 22.88% since the end of June this year. The company reported a big third-quarter loss on Wednesday, mostly because of its investment loss in a natural gas pipeline that links Wyoming to Oregon. It lost $368 million, for the third quarter, compared with a profit of $133 million last year. Revenue rose to $653 million from $519 million in the third quarter of 2010. The company is expected to earn $1.09 in 2011 and $1.25 in 2012. The stock recently traded at $24.7. Its forward PE ratio is 20.95. Neil Chriss initiated a brand new $27 million position in EP during the second quarter. D.E. Shaw had $93 million invested in EP at the end of June.

Sunoco, Inc. (NYSE:SUN), through its subsidiaries, refines and markets petroleum products, and manufactures chemicals in the United States. It lost 10.6% since the end of June this year. The company is expected to earn $0.13 in 2011 and $1.93 in 2012. The stock recently traded at $37.6. Its forward PE ratio is 18. Neil Chriss doubled his position and had $25 million invested in SUN at the end of June. Leon Cooperman had $124 million invested in SUN.

Source: Stock Picks From Nobel Prize Winner's Hutchin Hill Capital