Carlson Capital, managed by Clint Carlson, is a fund with a diversified investment approach. It is also reputed for not being afraid of going against the grain if the need for such moves arises. In the latest 13F report, the fund revealed its top three best stock picks. Covidien plc (NYSE:COV), NRG Energy Inc (NYSE:NRG) and Valero Energy Corporation (NYSE:VLO) close the list of the fund’s best three equity picks.
Carlson Capital enhanced its equity portfolio value in the third quarter of 2014 that it closed the quarter with nearly $9.3 billion. It had total equity portfolio value of slightly over $9.1 billion in the second quarter of 2014.
High on the list of Carlson Capital’s best three equity choices at the end of the third quarter of 2014 was Covidien plc (NYSE:COV). The fund owned more than 2.96 million shares of the $42 billion provider of healthcare products. That was an increase from nearly $1.68 million at the end of the second quarter of 2014. Carlson Capital’s new position in Covidien plc (NYSE:COV) is valued above $256 million.
Argentiere Capital, run by Deepak Gulati, initiated a position in Covidien plc (NYSE:COV) in the second quarter of 2014. The fund closed that quarter with 438,000 shares in the company.
The second-largest equity position in the portfolio of Carlson Capital is NRG Energy Inc (NYSE:NRG). The fund acquired more shares of electricity company in the third quarter such that it closed the period with more than 5.5 million shares in the company. It had slightly over 5 million shares in NRG Energy Inc (NYSE:NRG) in the previous filing. The new position in the electricity company is valued at about $169 million.
In addition to Carlson Capital, NRG Energy Inc (NYSE:NRG) is also a significant position in the portfolio of Sheffield Asset Management, run by Craig C. Albert. The fund owned more than 1.8 million shares in the company at the end of the second quarter of 2014.
Closing the list of Carlson Capital’s top three equity picks is Valero Energy Corporation (NYSE:VLO). Carlson Capital initiated a position in the $27 billion fuel company in the third quarter of 2014. As such, it closed the quarter with nearly 3.4 million shares in the company, valued at $156 million.
East Side Capital (Rr Partners), managed by Steven Richman, owned more than 5.7 million shares in Valero Energy Corporation (NYSE:VLO) at the close of the second quarter of 2014.
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