Global Restructure Expert Wilbur Ross - Second Quarter Update

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Here's an update on the second quarter 2013 sells and reductions made by Wilbur Ross , Invesco Private Capital . His portfolio currently lists 12 stocks and a total value of $967 million with a quarter-over-quarter turnover of 0%. Ross made no new buys in the second quarter. Assured Guaranty Ltd. ( AGO ) is still the top holding of Wilbur Ross who holds 7.64% of shares outstanding after this trade:


Assured Guaranty Ltd. ( AGO ): Reduced


Up 52% over 12 months, Assured Guaranty Ltd. has a market cap of $3.9 billion; its shares were traded at around $21.37 with a P/E ratio of 8.90. The dividend yield of Assured Guaranty Ltd. stocks is 1.80%.

Assured Guaranty Ltd. reported second quarter 2013 operating income at $98 million, or $0.52 per share, compared with second quarter 2012 operating income of $114 million, or $0.61 per share. Six months 2013 operating income was $358 million, or $1.87 per share, compared with six months 2012 operating income of $185 million, or $0.99 per share. AGO's second quarter 2013 net income was $219 million, or $1.16 per share, compared with second quarter 2012 net income of $377 million, or $2.01 per share. Six months 2013 net income was $75 million, or $0.39 per share, compared with six months 2012 net loss of $106 million, or $0.58 per share, according to a company press release.

Guru Action: As of June 30, 2013, Ross reduced his position by 25.17%, selling 4,992,882 shares at an average price of $21.79, taking a loss of 1.9%.

He has averaged a gain of 13% on 18,320,870 shares bought at an average price of $18.93 per share. On shares sold, he averaged a loss of 2% on 4,992,882 shares sold at an average price of $21.79 per share.

His current shares stand at 14,842,488.

His trading history:

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ZipRealty Inc. ( ZIPR ): Reduced

Founded in 1999, ZipRealty Inc. is up 104% over 12 months. The company has a market cap of $85 million; its shares were traded at around $4.06 with a P/B ratio of 6.70.

ZIPR reported second quarter 2013 revenue growth of 7% year-over-year, with revenue of $21.7 million and adjusted EBITDA of $1.1 million, exceeding prior expectations. The company saw a 37% year-over-year jump in new registered users as well as an 8% hike in same-market users.

Guru Action: As of June 30, 2013, Ross reduced his position by 44.88%, selling 10,000 shares at an average price of $3.18 for a gain of 27.7%.

He has averaged a gain of 9% on 32,282 shares bought at an average price of $3.73 per share. On shares sold, he averaged a gain of 57% on 20,000 shares sold at an average price of $2.58 per share.

His current shares stand at 12,282.

His trading history:

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Infinera Corporation ( INFN ): Sold Out

Up 72% over 12 months, Infinera Corporation has a market cap of $1.23 billion; its shares were traded at around $10.38 with a P/B ratio of 3.00.

Infinera Corporation reported financial results for the second quarter ended June 29, 2013, with GAAP revenues for the second quarter of 2013 at $138.4 million compared to $124.6 million in the first quarter of 2013 and $93.5 million in the second quarter of 2012. The company had a GAAP gross margin for the second quarter of 2013 of 37% compared to 34% in the first quarter of 2013 and 35% in the second quarter of 2012. GAAP net loss for the quarter was $(10.0) million, or $(0.09) per share, compared to net loss of $(15.3) million, or $(0.13) per share, in the first quarter of 2013 and net loss of $(29.5) million, or $(0.27) per share, in the second quarter of 2012.

Guru Action: As of June 30, 2013, Ross sold out his holding, unloading 46,275 shares at an average price of $8.92 for a gain of 16.4%.

His trading history:

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Guru Wilbur Ross led the worldwide bankruptcy advisory practice at Rothschild Inc., beginning in 1976. He has restructured more than $200 billion in liabilities worldwide. Ross established his own company in 2000 with $440 million in investor commitments. Currently, Invesco's portfolio is weighted in the financial services sector with 70.7%, followed by energy holdings at 24.9%. Last month Invesco Private Capital listed over $7 billion in assets under management with investments from all over the world.



Here is the complete portfolio of Wilbur Ross.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: AGO , INFN , ZIPR

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