EJF Capital’s latest 13F filing is out, and it turns out that the fund, managed by Emanuel J. Friedman, reduced its equity portfolio in the third quarter of 2014. The fund had a total equity value slightly above $2.1 billion, which compared with about $2.2 billion at the end of the second quarter of 2014. In its top three picks, EJF Capital disclosed Ally Financial Inc (NYSE:ALLY), Colony Financial Inc (NYSE:CLNY) and Starwood Property Trust, Inc. (NYSE:STWD).
Ally Financial Inc (NYSE:ALLY) topped the three largest equity picks by EJF Capital in the third quarter of 2014. However, the fund reduced its exposure to the stock in the third quarter. It closed the quarter with slightly over 10 million shares worth more than $237 million in the $11 billion financial services company. EJF Capital owned more than 12 million shares in the company at the end of the second quarter.
EJF Capital’s second largest equity position at the end of the third quarter is Colony Financial Inc (NYSE:CLNY). It owns more than 9.97 million share worth over $223 million in the company. EJF Capital increased its exposure to the stock of Colony Financial Inc (NYSE:CLNY) by nearly 1 million shares in the third quarter. John Paulson’s Paulson & Co is another hedge fund that held 25 million shares of Colony Financial Inc (NYSE:CLNY) at the end of the second quarter of 2014.
Starwood Property Trust, Inc. (NYSE:STWD) closes EJF Capital’s top three best picks. The fund acquired more shares of the stock in the third quarter that it ended the quarter with 9.9 million shares worth more than $217 million. Its holding in the company was about 8 million shares at the end of the second quarter of 2014.
Starwood Property Trust, Inc. (NYSE:STWD) is also a large equity position in the portfolio of Wesley Capital Management, which is managed by Arthur Wrubel. The fund held 515,000 shares of the company at the end of the second quarter of 2014. Insiders are also bullish on the stock of Starwood Property Trust, Inc. (NYSE:STWD). The company’s President, F. Jeffrey Dimodica, last week acquired 3,000 shares in the stock.
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