In an SEC filing on Wednesday, Horizon Asset Management disclosed it owned 22,642,832 shares of Leucadia (LUK). The holdings amount to 10% of the outstanding shares.
Horizon, “focuses on a security selection approach which emphasizes the purchase of equities selling at discounts to their intrinsic value and debt instruments selling below our assessment of their inherent worth. It is noteworthy to point out that today there is a value investor bias so permeating the professional investor population that it is by far the dominant investment school of thought. Thus one needs to be all the more contrarian in a value focused world. We believe this new environment requires an additional research focus on unique, ‘future potential’ situations which classically would be called growth stocks. A more thorough analysis becomes particularly important in the assessment of “
Disclosure (“none” means no position):None
