Perry Capital’s Long-Term Holdings as It Plans to “Wind Down”

#3 Ally Financial

Ally Financial Inc (NYSE:ALLY), Perry Capital’s largest position at the end of the second quarter, was also among its oldest. According to the fund’s latest 13F filing, this position was established during the second quarter of 2014 and amounted to 15.7 million shares, or 3.25% of the company’s outstanding stock. So far this year, Ally Financial Inc (NYSE:ALLY)’s stock has been trading in a range between $15 and $20 levels. Analysts recommend this stock mainly as a ‘Buy’ with an average price target of $25.40 per share, which represents an upside potential of roughly 35%. Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC has bought Ally Financial Inc (NYSE:ALLY) shares aggressively during the second quarter and could use the chance to bolster their position when Perry Capital divests. At the end of June the fund reportedly held 10.7 million shares, up 306% from the previous quarter.

#2 AIG

Insurance giant American International Group Inc (NYSE:AIG) is also among the veterans, having made its way into Perry Capital’s equity portfolio during the third quarter of 2012. At the end of the most recent quarter, the fund reportedly held 3.7 million shares, down 30% from the previous quarter, worth $195.7 million at the end of June. Billionaire Carl Icahn is very interested in American International Group Inc (NYSE:AIG) as he continues to actively push the company towards a breakup, in order to rid itself from the “systemically important financial institution” tag that imposes some regulatory hurdles. At the end of June, the activist investor held 45.6 million shares, up 1% from the end of March. Together with John Paulson, Icahn has gained seats on American International Group Inc (NYSE:AIG)’s board of directors, although the company’s management is still resisting to implement Icahn’s proposal to break up the company.

#1 Johnson & Johnson

Perry Capital oldest equity bet that is still present in its equity portfolio is Johnson & Johnson (NYSE:JNJ). First reported at the end of the first quarter of 2001, the position amounted to 292,729 shares at the end of June, unchanged during the second quarter. With a history stretching back to the 19th century, Johnson & Johnson (NYSE:JNJ) is one of the most innovative companies in the healthcare sector. While it continues to sell some of its original products, the company has expanded into a number of industries, like medical devices or pharmaceutics. Johnson & Johnson has a market cap of $323 billion and pays an annual dividend of $3.20 per share, which provides investors with a 2.69% yield. Billionaire Ken Fisher is betting big on Johnson & Johnson (NYSE:JNJ), as his fund, Fisher Asset Management, held 10.8 million shares at the end of June, a position valued at $1.33 billion.

Disclosure: none.