Summary
Michael Price (Trades, Portfolio) legendary value investor hedge fund MFP Investors has submitted its 13-f filing with the SEC. MFP Investors for the fourth quarter equity portfolio had an market value of approximately $818 million. During the fourth quarter Michael Price (Trades, Portfolio)'s hedge fund acquired new positions in 17 companies including Anchor Bancorp (ANCB, Financial), First Security Group (FSGI, Financial), Continental Resources (CLR, Financial), Helmerich & Payne (HP, Financial)Â and News Corp (NWSA, Financial)Â (NWS, Financial). These five new companies added to MFP Investors portfolio are now major positions in its portfolio.
Michael Price (Trades, Portfolio) bullish banks
During the fourth quarter Michael price acquired stakes in both Anchor Bancorp and First Security Group. He acquired 424,000 shares of Anchor Bancorp for about $14.63 million. Anchor Bancorp last month reported that its net income was $8.8 million or $3.55 per share for the fourth quarter. During the previous years quarter Anchor Bancorp posted losses of $248,000 or $0.10 per share.
MFP Investors bought 6.08 million shares of First Security Group for around $13.74 million. First Security Group earlier this month reported net income of $922 thousands or $0.01 per share for the fourth quarter.
Oil and gas companies added
Michael Price (Trades, Portfolio) used the recent fall in crude oil prices to acquire stakes in Continental Resources and Helmerich & Payne. He bought 200,000 shares of Continental Resources for a prices of $7.6 million. Acquiring 100,000 shares of Helmerich & Payne for around $6.7 million. Over the past year Continental and Halmerich lost 14% and 21% of their stock value.
Media firm added
During the quarter the firm acquired 407,500 shares of News Corp at a cost of $6.3 million. New Corps reported in the fourth quarter better then expected earning of $0.26 per share on $2.24 billion in revenues. Recently News Corp disclosed that the U.S. Department of Justice will not file any charges in connection to the 2011 phone hacking scandal in Great Britain in 2011.
