FBR & Co.
Follow13F filer, CIK 1371446, ARLINGTON, VA
FBR & Co. reported $58,677,000 across 48 holdings for the quarter ended 2013-12-31, in a 13F-HR filed 2014-02-11. Its ten largest share positions make up 59.64% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001140361-14-005932
- Period
- 2013-12-31
- Reported value
- $58.7M
- Holdings
- 48
- Top 10 weight
- 59.64%
- New
- 21
- Sold out
- 19
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| NMIHnew | +313,870 | $4M |
| PVR PARTNERS L Pnew | +100,000 | $2.68M |
| HEALTH CARE REIT INC CONV 6…new | +50,000 | $2.56M |
| AMERICAN CAPITAL AGENCY CORPnew | +100,000 | $1.93M |
| COVANTA HOLDING CORPORATIONnew | +87,200 | $1.55M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| NBHCexited | -1,112,327 | -$22.8M |
| PAA NAT GAS STORAGE L Pexited | -60,000 | -$1.4M |
| AMERICAN RESIDENTIAL PROPER…reduced | -55,211 | -$947K |
| ARRAY BIOPHARMA INC COMexited | -113,500 | -$706K |
| ARKANSAS BEST CORPexited | -22,500 | -$578K |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Holdings, Q4 2013
Share positions as resolved from 13F-HR 0001140361-14-005932, largest first. % of portfolio is the value over $57,906,000, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| POWERSHARESPOWERSHARES | 198,800 | $4.91M | 8.47% | 0 | |||
| NMIHNMI HLDGS INC | 313,870 | $4M | 6.9% | new | Timeline | ||
| LIFE TECHNOLOGIES CORPLIFE TECHNOLOGIES CORP | 40,000 | $3.03M | 5.24% | 0 | |||
| PVR PARTNERS L PPVR PARTNERS L P | 100,000 | $2.68M | 4.63% | new | |||
| HEALTH CARE REIT INC CONV 6…HEALTH CARE REIT INC CONV 6.50 | 50,000 | $2.56M | 4.43% | new | |||
| AMERICAN RESIDENTIAL PROPER…AMERICAN RESIDENTIAL PROPERTIES I… | 123,316 | $2.12M | 3.65% | -55,211 | |||
| AMERICAN CAPITAL AGENCY CORPAMERICAN CAPITAL AGENCY CORP | 100,000 | $1.93M | 3.33% | new | |||
| COVANTA HOLDING CORPORATIONCOVANTA HOLDING CORPORATION | 87,200 | $1.55M | 2.67% | new | |||
| CAPITALSOURCE INCCAPITALSOURCE INC | 100,000 | $1.44M | 2.48% | -10,000 | |||
| SANCHEZ ENERGY CORPSANCHEZ ENERGY CORP | 52,241 | $1.28M | 2.21% | new | |||
| UNS ENERGY CORPUNS ENERGY CORP | 20,000 | $1.2M | 2.07% | new | |||
| STERLING FINL CORP WASHSTERLING FINL CORP WASH | 35,000 | $1.19M | 2.06% | -15,000 | |||
| AMERICAN RESIDENTIALAMERICAN RESIDENTIAL | 52,540 | $902K | 1.56% | new | |||
| STANDARD PAC CORP NEWSTANDARD PAC CORP NEW | 86,240 | $780K | 1.35% | new | |||
| EPR PPTYSEPR PPTYS | 35,000 | $716K | 1.24% | new | |||
| ACCESS MIDSTREAM PARTNERS LACCESS MIDSTREAM PARTNERS L | 7,100 | $402K | 0.69% | +1,000 | |||
| ENERGY TRANSFER PRTNRS L PENERGY TRANSFER PRTNRS L P | 6,800 | $389K | 0.67% | +1,000 | |||
| WILLIAMS PARTNERS L PWILLIAMS PARTNERS L P | 7,600 | $387K | 0.67% | +1,000 | |||
| KINDER MORGAN ENERGY PARTNERKINDER MORGAN ENERGY PARTNER | 4,700 | $379K | 0.65% | +1,000 | |||
| ONEOK PARTNERS LP LTD PARTNONEOK PARTNERS LP LTD PARTN | 6,500 | $342K | 0.59% | +1,100 | |||
| PAAPLAINS ALL AMERN PIPELINE L | 5,800 | $300K | 0.52% | +700 | Timeline | ||
| EQM MIDSTREAM PARTNERS LPEQM MIDSTREAM PARTNERS LP | 4,900 | $288K | 0.5% | 0 | |||
| BUCKEYE PARTNERS LP (BPL)BUCKEYE PARTNERS LP (BPL) | 4,000 | $284K | 0.49% | 0 | |||
| TESORO LOGISTICS LPTESORO LOGISTICS LP | 5,034 | $263K | 0.45% | +2,000 | |||
| DCP MIDSTREAM LPDCP MIDSTREAM LP | 5,205 | $262K | 0.45% | +1,680 | |||
| CQPCHENIERE ENERGY PARTNERS L P | 8,600 | $246K | 0.42% | +1,500 | Timeline | ||
| ATLAS ENERGY LPATLAS ENERGY LP | 5,100 | $239K | 0.41% | +1,000 | |||
| EV ENERGY PARTNERS LPEV ENERGY PARTNERS LP | 6,900 | $234K | 0.4% | +1,000 | |||
| ROSE ROCK MIDSTREAM LPROSE ROCK MIDSTREAM LP | 6,000 | $232K | 0.4% | 0 | |||
| MARKWEST ENERGY PARTNERS L PMARKWEST ENERGY PARTNERS L P | 3,500 | $231K | 0.4% | +2,000 | |||
| Targa Resources Partners, LPTarga Resources Partners, LP | 3,300 | $173K | 0.3% | 0 | |||
| ALAIR LEASE CORP | 5,005 | $156K | 0.27% | 0 | Timeline | ||
| Crestwood Mid Lp NewCrestwood Mid Lp New | 6,007 | $150K | 0.26% | new | |||
| EL PASO PIPELINE PARTNERSEL PASO PIPELINE PARTNERS | 3,700 | $133K | 0.23% | 0 | |||
| WESTERN GAS PARTNERS LPWESTERN GAS PARTNERS LP | 2,000 | $123K | 0.21% | 0 |
Options
Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| DISH NETWORK CORP-ADISH NETWORK CORP-A COM | call | 83,200 | $503K | new |
| CALL DISH 03/22/14 60CALL DISH 03/22/14 60 CALL | call | 67,100 | $245K | new |
| NTELOS HLDGS CORPNTELOS HLDGS CORP PUT | put | 30,000 | $16K | +29,800 |
| ABERCROMBIE & FITCH COABERCROMBIE & FITCH CO CALL | call | 35,000 | $7K | new |
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| AK STL CORPAK STL CORP NOTE 5.000%11/1 | principal | 4,066,000 | $6.56M | +3,051,000 |
| XPO LOGISTICS INCXPO LOGISTICS INC NOTE | principal | 1,940,000 | $3.25M | new |
| Starwood Property Trust, In…Starwood Property Trust, Inc. CONV | principal | 2,500,000 | $2.77M | +387,000 |
| Albany Molecular Research C…Albany Molecular Research Conv CONV | principal | 2,880,000 | $2.66M | new |
| RTI INTL METALS INCRTI INTL METALS INC NOTE 1.625%10/1 | principal | 1,707,000 | $1.79M | new |
| WEB COM GROUP INCWEB COM GROUP INC NOTE 1.000% 8/1 | principal | 1,500,000 | $1.68M | new |
| ALTRA HOLDINGS INCALTRA HOLDINGS INC NOTE 2.750% 3/0 | principal | 1,000,000 | $1.37M | new |
| DEALERTRACK TECHNOLOGIES INCDEALERTRACK TECHNOLOGIES INC NOTE 1.500% 3/1 | principal | 935,000 | $1.29M | new |
| MERRIMACK PHARMACEUTICALS INMERRIMACK PHARMACEUTICALS IN NOTE 4.500% 7/1 | principal | 1,000,000 | $1.03M | new |
Sold out in Q4 2013
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| NBHCNATIONAL BK HLDGS CORP | 1,112,327 | $22.8M | shares |
| EXTERRAN HLDGS INC 4.250EXTERRAN HLDGS INC 4.250 | 2,318,000 | $2.89M | principal |
| NEWPARK RES INC 4.000NEWPARK RES INC 4.000 | 1,800,000 | $2.49M | principal |
| CORSICANTO LTD SR CONV NT C…CORSICANTO LTD SR CONV NT CONV DT… | 2,150,000 | $2.34M | principal |
| FORESTAR GROUP INCFORESTAR GROUP INC | 1,822,000 | $2.11M | principal |
| RTI INTL METALS INC 3.000RTI INTL METALS INC 3.000 | 1,846,000 | $2.1M | principal |
| ACCURAY INCACCURAY INC | 1,000,000 | $1.5M | principal |
| PAA NAT GAS STORAGE L PPAA NAT GAS STORAGE L P | 60,000 | $1.4M | shares |
| DDR CORPDDR CORP | 1,000,000 | $1.13M | principal |
| WALTER INVESTMENT MANAGEMENTWALTER INVESTMENT MANAGEMENT | 1,000,000 | $1.05M | principal |
| ENPRO INDS INCENPRO INDS INC | 561,000 | $1.03M | principal |
| EXPAND ENERGY CORPEXPAND ENERGY CORP | 982,000 | $965K | principal |
| STANDARD PAC CORP NEWSTANDARD PAC CORP NEW | 90,600 | $717K | put |
| ARRAY BIOPHARMA INC COMARRAY BIOPHARMA INC COM | 113,500 | $706K | shares |
| EPR PPTYSEPR PPTYS | 30,400 | $648K | principal |
| ARKANSAS BEST CORPARKANSAS BEST CORP | 22,500 | $578K | shares |
| HUDSON CITY BANCORPHUDSON CITY BANCORP | 50,000 | $452K | shares |
| HORSEHEAD HLDG CORPHORSEHEAD HLDG CORP | 40,000 | $43K | principal |
| ARKANSAS BEST CORPARKANSAS BEST CORP | 225 | $16K | put |
How Q4 2013 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001140361-14-005932 | base | 2014-02-11 | acceptance time not in the bulk data set |