Colony Financial Inc (CLNY), Hess Corp. (HES) and DaVita HealthCare Partners Inc (DVA): Swift Run Capital Management’s Top 3 Picks

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Swift Run Capital Management, managed by Tim Mullen, is a hedge fund famous for its diversified investment outlook. The fund unveiled its top three equity positions in the latest 13F report, which also saw the fund’s equity portfolio declining to slightly over $193 million in the third quarter of 2014. That compared with total equity portfolio value of about $229 million in the second quarter of 2014. The fund’s top three equity positions feature Colony Financial Inc (NYSE:CLNY), Hess Corp. (NYSE:HES) and DaVita HealthCare Partners Inc (NYSE:DVA).

Hess Corp

The fund increased its exposure to the equity of Colony Financial Inc (NYSE:CLNY) in the third quarter of 2014, making it its largest equity position at the end of the quarter. Swift Run Capital Management held 998,157 shares of the REIT in the latest filing, compared with 718,007 shares at the end of the second quarter of 2014. The fund’s new position in Colony Financial Inc (NYSE:CLNY) has an estimated value of $22 million.

Colony Financial Inc (NYSE:CLNY) has not seen any insider purchase this year, but several insiders have offloaded the stock this year.

Swift Run Capital Management’s second largest equity position at the end of the third quarter of 2014 was Hess Corp. (NYSE:HES). The fund reduced its stake in the company such that it closed the quarter with 143,629 shares in Hess Corp. (NYSE:HES), down from 288,837 shares at the end of the second quarter of 2014. Its new position in the company was valued at nearly $14 million.  Hess Corp. (NYSE:HES) is a $26 billion global energy company.

Hess Corp. (NYSE:HES) occupies a significant equity position in the portfolio of Elliott Management, led by Paul Singer. The fund owned 17.3 million shares of the company at the end of the second quarter of 2014.

Closing Swift Run Capital Management’s top three equity stakes at the end of the third quarter of 2014 was DaVita HealthCare Partners Inc (NYSE:DVA). The fund increased its position in the $16 billion provider of dialysis solutions such that it owned 178,453 shares in the company in the latest filing. That was up from 176,423 shares in the previous filing. Swift Run Capital Management’s new position in DaVita HealthCare Partners Inc (NYSE:DVA) carried an estimated value of slightly over $13 million.

Foundation Asset Management, run by David Charney and Sky Wilber, also has a large position in DaVita HealthCare Partners Inc (NYSE:DVA). Its holding in the stock was 551,308 shares at the end of the second quarter of 2014.

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