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Lombard Odier hedge fund value up $8M

Lombard Odier & Cie Bahamas Ltd has filed its Q2 2015 13F. Dated 18/08/2015, the 13f filing shows the hedge fund has a portfolio value of $285.09 million, representing an increase of $8.36 million from the previous quarter. 

Source:
Date:
Updated:
Octafinance
Tuesday, August 18, 2015
Tuesday, August 18, 2015

08/18/2015 (Octafinance) – Lombard Odier & Cie Bahamas Ltd just filed its Q2 2015 13F. Dated 18/08/2015, the 13f filing shows the hedge fund has a portfolio value of $285.09 million, representing an increase of $8.36 million from the previous quarter when it was $276.73 million. [Note: This filling represents only assets which are listed in the US.]

Portfolio Q22015
Market Value: $285,088,000
Previous Mkt Value: $276,732,000
Chg Mkt Value %: 3.02%
Sentiment:
Turnover %: 0.23%
Stocks Activity
New Purchases: 5
Additional Purchases: 13
Sold out: 4
Reduced: 6
Top 10 Holdings %: 35.36%


Fund New Positions
During this quarter, Lombard Odier & Cie Bahamas Ltd started positions in Facebook Inc (FB) for $300,000, Spdr Series Trust (XHB) for $120,000, Ishares (RXI) for $57,000, Ishares (EXI) for $34,000 and Arotech Corp (ARTX) for $10,000. These were the 5 biggest new positions. In total the hedge fund bought 5 new stocks.


Portfolio New Buys

Top 5 New Buys
Facebook Inc 0.11%
Spdr Series Trust 0.04%
Ishares 0.02%
Ishares 0.01%
Arotech Corp 0.00%
13F Sector Allocation
Information Technology 22%
Consumer Staples 17%
Health Care 16%
Industrials 12%
Energy 10%


Increased Positions
According to this 13f filing the hedge fund increased its stakes in Abbvie Inc (ABBV) by 9% to $10.55 million, Jpmorgan Chase & Co (JPM) by 5% to $7.95 million, Metlife Inc (MET) by 11% to $8.21 million, E M C Corp Mass (EMC) by 27% to $6.94 million and Praxair Inc (PX) by 5% to $5.02 million. Lombard Odier & Cie Bahamas Ltd also acquired smaller stakes in Verizon Communications Inc (VZ) by 20.05% to $3.18 million and Direxion Shs Etf Tr (FAS) by 116.67% to $122,000. Building positions gradually is normal investment strategy for many hedge funds.

Sold Stocks
This fund sold out its stakes in Barrick Gold Corp (ABX), Sanofi (SNY), Citigroup Inc (C) and Molycorp Inc Del (MCP). These stocks constituted 0.04%, 0.01%, 0.00% and 0.00% of the portfolio, respectively. We can only speculate about the reasons for the dumping but we believe it has to do with either value, momentum or a better place for Lombard Odier & Cie Bahamas Ltd’s capital.


Portfolio Sold All

Reduced Positions
The fund also reduced its postitons in Schlumberger Ltd (SLB) by -1.79%, Ebay Inc (EBAY) by -0.79%, Johnson & Johnson (JNJ) by -0.75%, Berkshire Hathaway Inc Del (BRKB) by -25.70% and Ishares (FXI) by -66.94%.

Top 3 Positions
Coca Cola Co (KO), Abbvie Inc (ABBV) and Schlumberger Ltd (SLB) made up the majority of Lombard Odier & Cie Bahamas Ltd’s total US long portfolio in this quarter. These securities were top 3 and constitute 14.42% of Lombard Odier & Cie Bahamas Ltd’s US-listed securities. The top 10 securities make about 35.36% of the fund’s portfolio.


Portfolio Top Holdings

The table above provides a snapshot of Lombard Odier & Cie Bahamas Ltd’s top 10 US-listed stock positions in this quarter.

Sectors Share
Health Care Sector 13F Portfolio of Lombard Odier & Cie Bahamas Ltd -

Lombard Odier & Cie Bahamas Ltd increased the health care sector from 15% to 16%. According to the 13f filing, the institutional investor also has securities for 22% in the information technology sector. The consumer staples sector is 17% of Lombard Odier & Cie Bahamas Ltd’s 13f assets. The fund reduced the Industrials, Materials and Energy sector stakes by 12%, 20% and 30%, respectively.

So these are Q2 2015 fund’s sector weights now: information technology 22% for $62.72 millionconsumer staples 17% for $48.46 million, health care 16% for $45.61 million, industrials 12% for $34.21 million, energy 10% for $28.51 million, consumer discretionary 8% for $22.81 million, materials 8% for $22.81 million, finance 6% for $17.11 million and utilities & telecommunications 1% for $2.85 million.



Important Position Changes

Top 10 Q2 2015 New Positions: Facebook Inc (FB), Spdr Series Trust (XHB), Ishares (RXI), Ishares (EXI) and Arotech Corp (ARTX).

Top 10 Q2 2015 Sold Out Completely: Barrick Gold Corp (ABX), Sanofi (SNY), Citigroup Inc (C) and Molycorp Inc Del (MCP).

This is an excerpt from Octafinance as it appeared on August 18, 2015. For updates or to read the current version of this post in its entirety, please click here.

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