Billionaire hedge-fund manager James Dinan has been struggling to generate lofty returns for investors over the past couple of years, forcing him to get out of the hedge fund business. The collapse of a three-decade-old hedge-fund business indicates challenges for the hedge fund businesses that are focusing on special situations like mergers and acquisitions.
Billionaire James Dinan’s US hedge fund stock portfolio value fell to just over $1 billion from $1.7 billion in the previous quarter.
Here is a summary of Billionaire James Dinan’s Top 10 Stock Picks.
GDS Holdings the Chinese information technology company represented 2.26% of the overall portfolio of Dinan’s York Capital at the end of the latest quarter. GDS stock price saw a huge selloff lately, losing 12% year to date. The TJX Companies, Inc are struggling to trade in the green this year despite a substantial rally in the past twelve months. York Capital sold 31% of its TJX position during the fourth quarter to capitalize on share price gains.
York Capital reduced its position in Mastercard Inc. by 34% during the fourth quarter. They have already recovered the share price losses it incurred during the pandemic-related selloff in 2020. York Capital increased its position in Boston Scientific Corporation, a healthcare equipment provider, by 8% during the fourth quarter to 2.59% of the overall portfolio. The share price of Boston Scientific is up 7%.
York Capital sold 65% of its stake in Chinese e-commerce platform JD.com during the fourth quarter to capitalize on the stunning rally in the pandemic year. Dinan’s hedge fund first initiated a position in JOYY Inc. during the second quarter and raised its stake by 107% in the December quarter. After this, the share price soared 18% year to date, and is up 75% in the last twelve months.
York Capital lowered its stake in China Biologic Products Holdings, Inc. by 79% in the fourth quarter to 3.53% of the overall portfolio. Shares of China Biologic Products grew 8% in the last twelve months. Pinduoduo Inc. is the third-largest stock holding of York Capital Management, however their shames seem to fall by 25% in the beginning of the year.
The share prices of Willis Towers Watson Public Limited Company soared 11% year to date, extending the twelve-month gains to 40%. The firm sold 6% of its position in Willis Towers during the fourth quarter. The share price of NextDecade Corporation grew 34% since the beginning of this year, accelerating twelve-month gains to 63%. York Capital increased its position in NEXT by 7% during the fourth quarter to 10.73% of the overall portfolio.
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