Melcher's Balestra Capital Builds More Defensive Positions In Q1 (XLU) (XLP)
Tweet Send to a Friend
James Melcher's Balestra Capital hedge fund recently released its 13F for the quarter ended March 31, 2011.
The value of the disclosed portfolio was $743 million at the end of the quarter, up from $566 million at the end of Q4 2010. It should be noted that cash, short positions and various other securities are not required to be disclosed in the 13F filing.
Notably the fund built up a new position in the Consumer Staples ETF (NYSE: XLP) and raised his stake in the Utilities ETF (NYSE: XLU), which is the funds biggest holding. These positions and others in the portfolio suggest a defense approach from Balestra.
New Stakes
American Capital Agency Corp. (NASDAQ: AGNC) new 1,904,554 share position
Hatteras Financial (NYSE: HTS) new 1,870,245 share position
Invesco Mortgage Capital (NYSE: IVR) new 700,000 share position
Select Sector SPDR-Consumer Staples (NYSE: XLP) new 3,464,831 share position
Select Sector SPDR-Industrial (NYSE: XLI) (PUT) new 50,000 share position
S&P DEP RECEIPTS (NYSE: SPY) (PUT) new 40,000 share position
Raised Stakes
Annaly Capital Management (NYSE: NLY) raised from 2,377,500 shares to 2,936,600 shares
iShares Dow Jones Select Dividend Index Fund (NYSE: DVY) raised from 1,425,000 shares to 2,078,950 shares
Market Vectors ETF Trust Market Vectors Gold Miners (NYSE: GDX) (CALL) raised from 15,750 shares to 16,719 shares
PowerShares QQQ Trust, Series 1 (NASDAQ: QQQ) (PUT) raised from 30,000 shares to 42,000 shares
Select Sector SPDR-Utilities (NYSE: XLU) raised from 5,166,250 shares to 5,208,750 shares
SPDR Gold Trust (NYSE: GLD) raised from 12,315 shares to 77,515 shares
SPDR S&P Dividend ETF (NYSE: SDY) raised from 1,454,450 shares to 2,072,950 shares
Suncor Energy, Inc. (NYSE: SU) raised from 501,365 shares to 687,965 shares
Lowered Stakes
iShares S&P 100 Index Fund (NYSE: OEF) lowered from 1,123,200 shares to 123,200 shares
SPDR Gold Trust (NYSE: GLD) (CALL) lowered from 62,340 shares to 13,965 shares
Liquidated Stakes
A.D.A.M. (NASDAQ: ADAM) liquidated
iShares Russell 2000 Index Fund (NYSE: IWM) (PUT) liquidated
Pengrowth Energy Corp. (NYSE: PGH) liquidated
SPDR S&P Retail ETF (NYSE: XRT) (PUT) liquidated
Maintained Stakes
Chevron (NYSE: CVX) maintained 5,100 share stake
SCIENTIFIC LEARNING CORP (NASDAQ: SCIL) maintained 72,400 share stake
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The value of the disclosed portfolio was $743 million at the end of the quarter, up from $566 million at the end of Q4 2010. It should be noted that cash, short positions and various other securities are not required to be disclosed in the 13F filing.
Notably the fund built up a new position in the Consumer Staples ETF (NYSE: XLP) and raised his stake in the Utilities ETF (NYSE: XLU), which is the funds biggest holding. These positions and others in the portfolio suggest a defense approach from Balestra.
New Stakes
American Capital Agency Corp. (NASDAQ: AGNC) new 1,904,554 share position
Hatteras Financial (NYSE: HTS) new 1,870,245 share position
Invesco Mortgage Capital (NYSE: IVR) new 700,000 share position
Select Sector SPDR-Consumer Staples (NYSE: XLP) new 3,464,831 share position
Select Sector SPDR-Industrial (NYSE: XLI) (PUT) new 50,000 share position
S&P DEP RECEIPTS (NYSE: SPY) (PUT) new 40,000 share position
Raised Stakes
Annaly Capital Management (NYSE: NLY) raised from 2,377,500 shares to 2,936,600 shares
iShares Dow Jones Select Dividend Index Fund (NYSE: DVY) raised from 1,425,000 shares to 2,078,950 shares
Market Vectors ETF Trust Market Vectors Gold Miners (NYSE: GDX) (CALL) raised from 15,750 shares to 16,719 shares
PowerShares QQQ Trust, Series 1 (NASDAQ: QQQ) (PUT) raised from 30,000 shares to 42,000 shares
Select Sector SPDR-Utilities (NYSE: XLU) raised from 5,166,250 shares to 5,208,750 shares
SPDR Gold Trust (NYSE: GLD) raised from 12,315 shares to 77,515 shares
SPDR S&P Dividend ETF (NYSE: SDY) raised from 1,454,450 shares to 2,072,950 shares
Suncor Energy, Inc. (NYSE: SU) raised from 501,365 shares to 687,965 shares
Lowered Stakes
iShares S&P 100 Index Fund (NYSE: OEF) lowered from 1,123,200 shares to 123,200 shares
SPDR Gold Trust (NYSE: GLD) (CALL) lowered from 62,340 shares to 13,965 shares
Liquidated Stakes
A.D.A.M. (NASDAQ: ADAM) liquidated
iShares Russell 2000 Index Fund (NYSE: IWM) (PUT) liquidated
Pengrowth Energy Corp. (NYSE: PGH) liquidated
SPDR S&P Retail ETF (NYSE: XRT) (PUT) liquidated
Maintained Stakes
Chevron (NYSE: CVX) maintained 5,100 share stake
SCIENTIFIC LEARNING CORP (NASDAQ: SCIL) maintained 72,400 share stake
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Kyle Bass 13G Shows 9.7% Stake in Dex Media (DXM)
- QVT Financial Purchase $20M of Convertible Debt Issued by VIVUS (VVUS)
- Elliott Management: Dividend, Buyback are 'Positive Steps' for NetApp (NTAP)
Create E-mail Alert Related Categories
13Fs, Hedge FundsRelated Entities
Standard & Poor's, Balestra Capital, Dividend, Hedge Funds
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
