Thu, May 21, 9:17 AM
- New additions to Goldman's hedge fund hotels - 50 stocks which most frequently appear among the largest ten holdings of hedge funds: AerCap (NYSE:AER), Assured Guaranty (NYSE:AGO), Baker Hughes (NYSE:BHI), Citizens Financial (NYSE:CFG), Colony Capital (NYSE:CLNY), Dresser-Rand (NYSE:DRC), Family Dollar (NYSE:FDO), Hospira (NYSE:HSP), Netflix (NASDAQ:NFLX), NXP Semi (NASDAQ:NXPI), Pharmacyclics (NASDAQ:PCYC), Visa (NYSE:V), and Walgreens (NASDAQ:WBA).
- Since 2001, the basket has outperformed the S&P 500 in 66% of quarters by an average of 73 basis points. YTD, however, it has underperformed by nine bps. Goldman notes the current basket overweights Consumer Discretionary (22%) and underweights Consumer Staples (2%).
- Looking at the full list, Actavis (NYSE:ACT) leads the way, with 77 funds naming the stock as a top 10 holding. Next up is Apple (NASDAQ:AAPL) with 69, then Facebook (NASDAQ:FB) at 42. For the entire list of 50, the average is 26 funds making a stock a top 10 holding.
- The rest in order: Valeant (NYSE:VRX), Microsoft (NASDAQ:MSFT), DirecTV (NASDAQ:DTV), Citigroup (NYSE:C), Time Warner (NYSE:TWC), Delta (NYSE:DAL), Cheneire (NYSEMKT:LNG), Yahoo (NASDAQ:YHOO), Liberty Global (NASDAQ:LBTYK), AIG, SunEdison (NYSE:SUNE), Air Products (NYSE:APD), Amazon (NASDAQ:AMZN), GM, BofA (NYSE:BAC), JPMorgan (NYSE:JPM), Macquarie Infrastructure (NYSE:MIC), American Airlines (NASDAQ:AAL), Charter Communications (NASDAQ:CHTR), Google (GOOG, GOOGL), Ally Financial (NYSE:ALLY), NorthStar Realty (NYSE:NRF), Priceline (NASDAQ:PCLN), eBay (NASDAQ:EBAY), MasterCard (NYSE:MA), Alibaba (NYSE:BABA), Micron (NASDAQ:MU), Williams (NYSE:WMB), Gilead (NASDAQ:GILD), Berkshire Hathaway (BRK.A, BRK.B), Dolar General (NYSE:DG), NorthStar Asset (NYSE:NSAM), Brookdale Senior (NYSE:BKD), DISH Network (NASDAQ:DISH).
- See also: Goldman updates list of hedge funds most-shorted stocks (May 21)
Fri, May 15, 6:05 PM
- After having exited a prior GM position a year ago, David Einhorn's Greenlight Capital bought 9.5M shares of the auto giant in Q1, per Greenlight's Q1 13F.
- Einhorn previously disclosed the purchase, along with his reasoning, in his Q1 letter. "2015 should be a better year for GM: the company is a year closer to eliminating its losses in Europe; low gas prices should stimulate demand for its highly profitable SUV and light truck product lines; raw material costs are low; and we believe that the worst of the product recalls is behind them." He also noted GM's buyback, and called earnings estimates beatable.
- A 1.7M-share stake was taken in Macy's (NYSE:M), and a 1.1M-share stake in Ingram Micro (NYSE:IM). Greenlight's stake in Chicago Bridge & Iron (NYSE:CBI) was more than doubled to 6.7M shares, and its stake in AerCap (NYSE:AER) hiked by 49% to 5.6M.
- On the flip side, Greenlight liquidated a 1.3M-share stakes in Aetna (NYSE:AET) and Amdocs (NASDAQ:DOX). The firm cut its stake in chipmaker/long-time holding Marvell (NASDAQ:MRVL) by 63% to 9M shares, and in chip equipment maker Lam Research (NASDAQ:LRCX) by 33% to 1.7M shares.
Thu, May 14, 9:30 AM
- United Continental (NYSE:UAL) has announced plans to lease up to 25 used aircraft from AerCap (NYSE:AER) to reduce its dependence on smaller, 50-seat jets.
- UAL expects delivery of 11 used A319s over the next two years, with the right to add up to 14 more of the single-aisle planes over the next five years.
Mon, May 11, 7:47 AM
Sun, May 10, 5:30 PM
Tue, Mar. 31, 11:52 AM
- According to a filing from AerCap (AER -1.4%), AIG will sell its remaining 97.6M shares in the company (a 46% stake) at a maximum price of $43.74 each.
- AIG, of course, obtained the stake through its sale of ILFC to AerCap last year.
- For AerCap, the sale will remove a sizable overhang on the stock. For AIG, the $4B-plus raised will be nice firepower for buybacks.
- SEC Form F-3ASR
Mon, Feb. 23, 7:17 AM
Sun, Feb. 22, 5:30 PM
Tue, Jan. 20, 8:57 AM
- "We are just very disciplined with the money of our shareholders and will do what's best for them: whether it is paying down debt, buying airplanes or buying back shares," says AerCap (NYSE:AER) CEO Aengus Kelly, responding to a question as to whether the company might buy back all or part of its stock owned by AIG.
- Earlier headlines making the rounds described Kelly's comments as suggesting a stronger consideration of a buyback.
- AerCap has maintained its priority is reducing its debt loan during the ILFC integration, a strategy Kelly says is ahead of schedule.
Tue, Jan. 20, 8:13 AM
- To review, AIG is the owner of nearly 100M shares of AerCap (NYSE:AER) following its sale of ILFC in May 2014. AerCap's stock price has declined from about the $45 area at the time of the sale to $38 at the close on Friday, and Reuters reports the company is mulling repurchasing shares from AIG.
- AIG +1.3% premarket
Nov. 4, 2014, 8:01 AM
Nov. 3, 2014, 5:30 PM
- AER, AFSI, AKS, ALLT, ARCC, ARCO, ARRY, ATRO, AYR, BABA, BDX, BKW, BLMN, CCG, CIE, CLDT, CONE, CVS, DISCA, DISH, DWRE, DX, EL, EMR, ENBL, EOG, ETR, EXH, EXLP, EXPD, FE, GDP, GLT, HCLP, HCN, HCP, HEP, HMSY, HPT, HSNI, HW, ICE, IFF, IMN, IP, IPXL, IRC, IRWD, KORS, LINC, LINE, LNCE, MFA, MSI, MWW, NCT, NGLS, NNN, NTI, NWN, ODP, OZM, PCLN, PPL, RBA, REGN, RESI, RGS, RHP, RIGL, RRGB, SC, SGNT, SRE, TESO, TGH, TICC, TIME, TLM, TRP, VLO, VMC, VSI, WLK, WNR, WRES, ZBRA, ZTS
Aug. 12, 2014, 7:28 AM
- Q2 adjusted net income of $212.4M or $1.29 per share vs. $67.1M and $0.59 one year ago, thanks to the ILFC purchase.
- Net interest margin earned on lease assets of $550.8M vs. $160.1M. Net interest margin as a percent of average lease assets of 10.1% vs. 8.5%.
- Adjusted debt to equity ratio rises to 3.7:1 from 2.6:1 following the ILFC deal.
- AER +2.3% premarket - pleasing to AIG, the owner of nearly 100M shares, or 46% of AerCap.
- Conference call at 9 ET
- Previously: AerCap beats by $0.50, beats on revenue
Aug. 12, 2014, 7:15 AM
Aug. 11, 2014, 5:30 PM
Jul. 16, 2014, 8:22 AM
- An existing AerCap (NYSE:AER) Airbus A340-300 customer, Air Mauritius signs a letter of intent to lease two Airbus A350-900 aircraft. AerCap President Philip Scruggs: "The introduction of new A350-900s in 2017 will make Air Mauritius even more competitive on critical routes to Europe and Asia and will position the airline as a leader in African aviation."
- Press release
- A major AerCap owner with nearly 100M shares is AIG.
AER vs. ETF Alternatives
AerCap Holdings NV provides aircraft leasing & aviation finance services. Its activities also include aircraft asset management, corporate services, remarketing of aircraft, collecting rental, maintenance payments & monitoring aircraft maintenance.
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