Yahoo Finance Distressed Investor Wilbur Ross Buys 2 New Stocks in Fourth Quarter
Wilbur Ross (Trades, Portfolio) is the founder of WL Ross & Co. LLC, an investment firm that turns around distressed assets. Founded in 2000 with $440 million in startup funds, it now has over $7 billion in assets under management. Ross' current investment themes are: energy, financial services, health care, heavy materials and transportation.
Ross' stock portfolio contains nine stocks with a value of $866 million. The preponderance of it is invested in a single stock, Navigator Holdings (NVGS), at 53.2%. He also expressed interest in European opportunities last week and became vice chairman of Bank of Cyprus (BOC.AT) in November.
In the fourth quarter, Ross sold out of two positions and replaced them with two others, from the U.S. and Canada: Xenon Pharmaceuticals Inc. (XENE) and Inphi Corp (IPHI).
Xenon Pharmaceuticals Inc. (XENE)
Ross purchased 444,655 shares of Xenon Pharmaceuticals Inc., representing 1% of the portfolio. The fourth quarter's average price per share was $15.
Xenon Pharmaceuticals Inc. was incorporated in the Province of British Columbia on Nov. 5, 1996. Xenon Pharmaceuticals Inc. has a market cap of $280.9 million; its shares were traded at around $19.80 with a P/E ratio of 16.6 and P/S ratio of 7.0.
Inphi Corp (IPHI)
Ross bought 71,424 shares of Inphi Corp, a 0.15% portfolio position. The company's share price averaged $15 in the quarter.
Inphi Corp was incorporated in Delaware in November 2000 as TCom Communications Inc. Inphi Corp has a market cap of $684.4 million; its shares were traded at around $18.45 with and P/S ratio of 4.40.
See more Wilbur Ross (Trades, Portfolio) stocks at his portfolio here. Not a Premium Member of GuruFocus? Try it free for 7 days here.
This article first appeared on GuruFocus.
