Marc Lasry and his sister Sonia Gardner co-founded Avenue Capital, a New York-based hedge fund. The fund began with a $100 million initial investment and has since grown to be a multi-billion dollar hedge fund. Avenue Capital has $13 billion in assets under management as of May 2011. Marc Lasry, worth $1.9 billion, is a co-owner of the NBA team Milwaukee Bucks. Avenue Capital Management, his hedge fund, now manages $161 million in assets. Marc Lasry was named one of the top 25 hedge fund managers in the world in 2013. Over the quarter, Avenue Capital Management, led by Marc Lasry, totally abandoned three equities. The first was Chesapeake Energy Corporation, a US-based corporation that specializes in oil, natural gas, and natural gas liquids exploration and development.
Here is Insider Monkey’s list of top stock picks of Marc Lasry’s Avenue Capital. Impel NeuroPharma, Inc. is a firm that specializes in medical device development. The Seattle-based firm provides treatments and therapies for illnesses of the central nervous system. On December 4, the company’s stock was trading at $8.82 on the NASDAQ stock exchange. Transocean Ltd is owned by Marc Lasry’s hedge fund Avenue Capital, which holds 1,328,986 shares. The company earned -$0.19 per share in the third quarter, missing consensus forecasts by $0.04. Frontier Communications Parent, Inc. is a communications services company that serves residential and commercial clients in 25 states across the United States. Capital owned 382,453 shares in the company, worth $10.65 million as of the third quarter. Avenue Capital holds 148,718 shares worth $12.22 million in the firm. Over the last three months, the energy company’s stock has lost 5.59 percent of its value. At the end of the third quarter, Gulfport Energy Corporation was owned by 18 hedge funds. For more details, click the Top Stock Picks Of Lasry’s Avenue Capital.
