Billionaire Howard Marks‘ Oaktree Capital Management recently filed a Form 13D with the SEC, in which reported holding 37.86 million common shares of Exco Resources Inc (NYSE:XCO), which account for 13.4% of the company’s outstanding stock. This represents a decrease in the firm’s stake, as it previously held 45.17 million shares according to its 13F filing for the reporting period of June 30.
Exco Resources is an oil and natural gas company that works on the exploitation of onshore oil and gas properties in the U.S. Over the past 12 months, the company’s shares have gained 116.02% as oil prices have rebounded from multi-year lows. In its financial report for the second quarter of 2016, Exco Resources reported a loss per share of $0.05 and revenue of $54 million, compared to a loss per share of $0.05 and revenue of $94 million for the same quarter of the previous year.
According to our hedge fund database, some of the investors long EXCO Resources Inc (NYSE:XCO) at the end of June were Oaktree Capital Management, Prem Watsa’s Fairfax Financial Holdings, with a position valued at $33.2 million, Jim Simons’ Renaissance Technologies, with a stake worth $3.53 million, and Ken Griffin’s Citadel Investment Group. Investors who lost interest in EXCO Resources Inc (NYSE:XCO) and decided to drop their positions during the second quarter included Howard Guberman’s Gruss Asset Management, which said goodbye to a $2.5 million position of put options underlying EXCO shares.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| OCM Principal Opportunities Fund IV Delaware | 14,565,886 | 86,250 | 14,565,886 | 86,250 | 14,652,136 | 5.2% |
| OCM Principal Opportunities Fund IV Delaware GP Inc | 14,565,886 | 86,250 | 14,565,886 | 86,250 | 14,652,136 | 5.2% |
| OCM Principal Opportunities Fund IV | 14,565,886 | 86,250 | 14,565,886 | 86,250 | 14,652,136 | 5.2% |
| OCM Principal Opportunities Fund IV GP | 14,565,886 | 86,250 | 14,565,886 | 86,250 | 14,652,136 | 5.2% |
| OCM Principal Opportunities Fund IV GP Ltd | 14,565,886 | 86,250 | 14,565,886 | 86,250 | 14,652,136 | 5.2% |
| OCM Principal Opportunities Fund III | 2,180,978 | 86,250 | 2,180,978 | 86,250 | 2,267,228 | 0.8% |
| OCM Principal Opportunities Fund IIIA | 39,977 | 86,250 | 39,977 | 86,250 | 126,227 | 0.0% |
| OCM Principal Opportunities Fund III GP | 2,220,955 | 86,250 | 2,220,955 | 86,250 | 2,307,205 | 0.8% |
| Oaktree Fund GP I | 18,123,091 | 18,123,091 | 18,123,091 | 6.4% | ||
| Oaktree Capital I | 18,123,091 | 18,123,091 | 18,123,091 | 6.4% | ||
| OCM Holdings I | 18,123,091 | 18,123,091 | 18,123,091 | 6.4% | ||
| Oaktree Holdings | 18,123,091 | 18,123,091 | 18,123,091 | 6.4% | ||
| OCM EXCO Holdings | 19,736,841 | 86,250 | 19,736,841 | 86,250 | 19,823,091 | 7.0% |
| Oaktree Capital Management | 37,859,932 | 37,859,932 | 37,859,932 | 13.4% | ||
| Oaktree Holdings, Inc | 37,859,932 | 37,859,932 | 37,859,932 | 13.4% | ||
| Oaktree Capital Group | 37,859,932 | 37,859,932 | 37,859,932 | 13.4% | ||
| Oaktree Capital Group Holdings GP | 37,859,932 | 37,859,932 | 37,859,932 | 13.4% | ||
| Oaktree Value Opportunities Fund Holdings | 1,250,000 | 86,250 | 1,250,000 | 86,250 | 1,336,250 | 0.5% |
| Oaktree Value Opportunities Fund GP | 1,250,000 | 86,250 | 1,250,000 | 86,250 | 1,336,250 | 0.5% |
| Oaktree Value Opportunities Fund GP Ltd | 1,250,000 | 86,250 | 1,250,000 | 86,250 | 1,336,250 | 0.5% |
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Page 1 of 34 – SEC Filing
| EXCO RESOURCES, INC. |
| (Name of Issuer) |
| Common Stock, par value $0.001 per share |
| (Title of Class of Securities) |
| 269279402 |
| (CUSIP Number) |
| (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) | ||
| August 10, 2016 | ||
| (Date of Event which Requires Filing of this Statement) | ||
____________________________
