This Investor Still Bets on Energy, Biotech Heading Into Q4

#3 Magellan Midstream Partners L.P. (NYSE:MMP)

Number of shares held by Selz Capital as of June 30: 434,650 ($26.13 million)

Number of shares held Selz Capital as of September 30: 434,650 ($31.90 million)

Magellan Midstream Partners L.P. (NYSE:MMP) was another stock that made the top five largest-holdings list of Selz Capital at the end of the third quarter. The energy master limited partnership saw its shares decline by 17.20% in the third quarter. The company’s stock performance has been impacted by the low-oil-price environment, but the headwinds facing the energy sector did not impact Magellan’s financial performance significantly during the second quarter. In fact, the company reported net income of $177.4 million, which was $31.1 million higher year-over-year. Meanwhile, Magellan Midstream Partners’ third-quarter earnings report that is anticipated to be released on November 3 will shed some light on the company’s performance and its future course. John Osterweis’ Osterweis Management holds a 1.19 million-share stake in Magellan Midstream Partners L.P. (NYSE:MMP) as of June 30.

#2 Air Lease Corp (NYSE:AL)

Number of shares held by Selz Capital as of June 30: 944,900 ($29.22 million)

Number of shares held Selz Capital as of September 30: 944,900 ($32.03 million)

Moving on to the second-largest holding of Selz Capital, the investment firm owns 994,900 shares of Air Lease Corp (NYSE:AL) as of September 30 that were worth $29.22 million. The aircraft leasing company, which represented the third-largest position in Bernard Selz’s portfolio at the end of the second quarter, gained the second spot of this list after Selz Capital reduced its stake in Allergan PLC (NYSE:AGN) by roughly 70%. The shares of Air Lease Corp (NYSE:AL) fell by 8.67% in the third quarter, and are 7% in the red year-to-date. At the end of September, the company announced a new long-term lease deal with Leeward Islands Air Transport on a new ATR 72-600 aircraft, which is a sign that its business has not been losing steam. Peter Adam Hochfelder’s Brahman Capital is the largest shareholder of Air Lease Corp (NYSE:AL) within our database, holding 4.56 million shares at the end of June.

#1 Macquarie Infrastructure Corp (NYSE:MIC)

Number of shares held by Selz Capital as of June 30: 999,703 ($74.64 million)

Number of shares held Selz Capital as of September 30: 999,703 ($82.61 million)

Macquarie Infrastructure Corp (NYSE:MIC) retained its spot as the largest holding of Selz Capital. The New York-based investment firm held its position in the company unchanged during the third quarter at 999,703 shares, which were valued at $74.64 million on September 30. Macquarie Infrastructure owns and operates a relatively diversified portfolio of infrastructure businesses that provide services to consumers mainly in the United States. The company’s businesses operate in the segment of infrastructure with high entry barriers, which in turn provide sustainable, stable and growing cash flows over a long-term spectrum. Even so, the stock lost 8.32% during the third quarter, narrowing down the year-to-date gains to slightly over 10%. The company also pays out attractive dividends to its shareholders, as it offered a quarterly cash dividend of $1.11 per share for the quarter that ended June 30. Richard McGuire’s Marcato Capital Management represents another top equity holder of Macquarie Infrastructure Corp (NYSE:MIC) with 3.53 million shares as of June 30.

Disclosure: None