Deltec Asset Management LLC is an investment firm based in New York City and fully registered with the Securities and Exchange Commission. The company manages commingled funds and separate accounts for individuals, families, funds, trusts, and institutions. Currently, the company manages approximately $900 million in assets. According to the firm’s SEC 13F Filings submitted on November 4, 2014, for the quarter ended September 30, 2014, its top three holdings are American Airlines Group Inc (NASDAQ:AAL), Depomed Inc (NASDAQ:DEPO), and General Motors Company (NYSE:GM).
American Airlines Group Inc (NASDAQ:AAL) was the topmost investment of Deltec Asset Management LLC with an investment worth $37.9 million. American Airlines Group Inc (NASDAQ:AAL) is a U.S. Airline that operates both local and international flight services. The company’s top three shareholders are T. Rowe Price Associates, Inc., Capital World Investors, and Fidelity Management and Research Company. The subsidiaries through which American Airlines Group Inc (NASDAQ:AAL) offers some of its services are Envoy Air, Trans World Airlines, Executive Airlines, and AMR Eagle Holding Corporation.
Depomed Inc (NASDAQ:DEPO) came out the second biggest investment of the firm with investment worth $32.8 million. Depomed Inc (NASDAQ:DEPO) is a specialty pharmaceutical company that develops and commercializes central nervous system conditions and pain medications. The company’s third quarter net income was $6.45 million on total revenue of $51.49. These figures are above the projections of analysts who expected the company to register a $0.04 loss per share on revenue of $41.47 million. The top shareholders of Depomed Inc (NASDAQ:DEPO) are BlackRock Fund Advisors, Rima Senvest Management LLC, and SSgA Funds Management, Inc.
General Motors Company (NYSE:GM) emerged the third biggest investment of Deltec Asset Management LLC with total investment value of $28.96 million. General Motors Company (NYSE:GM) is a company that designs, manufactures, and sells motor vehicles and parts globally. The company also manufactures cars for those with special needs. The company is set to lay off 510 workers in two of its plants in Michigan in a bid to align its production to the market demands. The company has this year been faced with challenges emanating from faulty parts of its vehicles, something that has let to record recalls this year.
This article has been written by Victor Ochieng.