In the second quarter, twenty nine hedge funds in our tracking list had XCO in their portfolios. Howard Marks’ Oaktree Capital Management had 34.78 million shares, giving a 16.23% stake. Wilbur Ross’s Invesco Private Capital (WL Ross & Co) had 2.10 million shares, or 9.8% stake at that time, after a decrease of 95%. Anand Parekh’s Alyeska Investment Group had 9 million shares, corresponding to a 4.2% stake.
Wilbur Ross is known for restructuring failed companies. He specializes in leveraged buyouts and distressed businesses. He was listed as one of the world’s billionaires with a net personal wealth of $1.9 billion in 2011. His Invesco Private Capital (WL Ross & Co) has a portfolio value of $1.24 billion, with most of the capital invested in Financial, Basic Materials, and other sectors.
EXCO Resources, Inc. is an independent oil and natural gas company. According to Yahoo! Finance, the company “engages in the exploration, exploitation, development, and production of onshore North American oil and natural gas properties with a focus on shale resource plays”. The company had proved reserves of approximately 1.5 trillion cubic feet equivalent, and operated 7,276 wells as of December 31, 2010. The company was founded in 1955 and is headquartered in Dallas, Texas.
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