Billionaire Wilbur Ross Is Against Brexit; Here Are His Fund’s Top 13F Holdings

#3 Cascade Bancorp (NASDAQ:CACB)

– Shares Owned by Invesco Private Capital (as of March 31): 11.47 million

– Value of Holding (as of March 31): $65.48 million

Moving on, Invesco Private Capital kept its stake in Cascade Bancorp (NASDAQ:CACB) unchanged during the first quarter. One of the hedge funds that initiated a stake in the bank holding company during that time was William Black’s Consector Capital, which purchased 132,812 shares. In April, Cascade Bancorp (NASDAQ:CACB) announced that it entered into a definitive agreement to acquire Prime Pacific Bank, in an all-stock deal. The company expects this deal to be 5% accretive to its earnings in 2017 with no revenue synergies. A day after this announcement, the company reported its fiscal 2016 first quarter numbers, which were slightly better than the consensus estimate. While analysts had projected the company to report EPS of $0.06 on revenue of $25.58 million, Cascade Bancorp reported EPS of $0.06 on revenue of $27.62 million for the quarter.

#2 Sun Bancorp, Inc. /NJ (NASDAQ:SNBC)

– Shares Owned by Invesco Private Capital (as of March 31): 4.25 million

– Value of Holding (as of March 31): $88.14 million

Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) lost 90% of its market value in the period between 2004 and 2011. However, its stock has been on a slow and steady rise ever since the end of that bear run and recently touched the $22 mark after spending more than five years trading below it. On May 2, Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) reported its fiscal 2016 first quarter results. While the EPS of $0.04 it declared for the quarter missed analysts’ estimates by $0.01, the company’s revenue of $17.65 million managed to beat analysts’ revenue projections by $2.33 million. Like Invesco Private Capital, Anton Schutz‘s Mendon Capital Advisors also kept its stake in Sun Bancorp unchanged during the first quarter and continued to own 143,538 shares of the company at the end of March.

#1 Navigator Holdings Ltd (NYSE:NVGS)

– Shares Owned by Invesco Private Capital (as of March 31): 21.86 million

– Value of Holding (as of March 31): $353.1 million

UK-headquarted Navigator Holdings Ltd (NYSE:NVGS) remained the largest equity holding of Invesco Private Capital ever since the firm initiated its stake in the company during the last quarter of 2013. Similar to the other stocks mentioned previously, the fund also left its stake in Navigator Holdings unchanged during the first quarter and the position amassed over 60% of the fund’s equity portfolio at the end of March. Since the beginning of 2014, shares of the operator of a fleet of liquefied gas carriers  have lost over 6% of their value, but Invesco Private Capital has kept its stake largely unchanged, only bringing it down marginally during a few quarters. Due to the rally in natural gas prices earlier this year, Navigator Holdings Ltd (NYSE:NVGS)’s stock saw a rally in January and February. However, it has given up all those gains, and more, since then and now trades down 20% year-to-date.  On April 20, analysts at Stifel Nicolaus reiterated their ‘Buy’ rating on the stock, but lowered their price target on it to $25 from $28, which represents a potential upside of almost 130% from the stock’s last trading price.

Disclosure: None