Key Energy Services, Inc. (KEG), Baker Hughes Incorporated (BHI) And Marathon Petroleum Corp (MPC): Blackthorn Investment Group LLC’s Top 3 Fresh Buys

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In the filing of its trades and holdings during the second quarter 2015, Blackthorn Investment Group LLC has revealed several tweaks implemented in its equity portfolio.

The value of the fund’s equity portfolio jumped to $33.7 million at the end of the second quarter, compared to $24.1 million at the end of the first quarter 2015.

During the latest quarter, Blackthorn Investment Group LLC initiated 46 fresh positions and sold out of another 37 stocks. Additionally, the fund acquired more shares in some 12 stocks it already owns while narrowing exposure to another 13 stocks.

Blackthorn Investment Group LLC’s equity portfolio is predominately Finance, accounting for 76% of the portfolio. The fund also has exposure to Energy, Real Estate and Materials industries.

Here is a brief look at Blackthorn Investment Group LLC’s most prominent fresh acquisitions based on dollar value: Key Energy Services, Inc. (NYSE:KEG), Baker Hughes Incorporated (NYSE:BHI) and Marathon Petroleum Corp (NYSE:MPC).

These stocks also make the list of the fund’s Top 3 equity picks overall:

Top 3 fresh buys

Stake in Key Energy Services (KEG) valued at $1.77 million

Blackthorn Investment Group LLC initiated a fresh position of 3 million shares in Key Energy Services, Inc.(NYSE:KEG) during the second quarter. The financial value of the investment stood at $1.77 million as of the latest filing.

Blackthorn takes up 20,000 shares in Baker Hughes (BHI)

Blackthorn Investment Group LLC made a fresh move in Baker Hughes Incorporated(NYSE:BHI), taking up 20,000 shares in the company during the second quarter. The dollar value of the investment in BHI was $1.23 million at the end of the latest quarter.

Stake in Marathon Petroleum (MPC) worth over $1 million

Blackthorn Investment Group LLC showed confidence in the direction that the management is leading Marathon Petroleum Corp (NYSE:MPC). The fund made a fresh move in the stock, acquiring 20,000 shares. The position was valued at more than $1 million at the end of the second quarter.

Discarded positions

In other moves, Blackthorn Investment Group LLC sold out of Five Oaks Investment Corp (NYSE:OAKS). The fund offloaded all the 119,050 shares, valued at $1.3 million, that it held in the company at the end of the first quarter 2015.

CYS Investments Inc (NYSE:CYS) is another stock affected by the clean up inside Blackthorn Investment Group LLC’s equity portfolio. The fund sold all the 105,000 shares owned in CYS Investments at the end of the first quarter, a position that was worth $936,000 at the end of the previous quarter.

Blackthorn Investment Group LLC sold all the 40,000 shares held in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) at the end of the first quarter. The stake was valued at $751,000 in the previous filing.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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