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Kass: What to Own and How Much

My short positions consist of companies that have challenged long-term business models and/or are expected to disappoint on the earnings front over the shorter term. I currently have limited short exposure, which includes American Express (AXP), Grand Canyon Education (LOPE), Henry Schein (HSIC), Morgan Stanley (MS) and Patterson Companies (PDCO) are my only individual short equity positions.

I remain short U.S. bonds and plan to expand this strategy if fixed-income yields drop further.
At the time of publication, Kass and/or his funds were long CL, CLX, DELL, DIS, ETFC, F, FCX, GM, IFF, K, KFN, LNC, MET, MTG, OZM, PEP, PG, PRU, SCHW and TROW common; long IFF, K and TBT calls; short AXP, LOPE, HSIC, MS and PDCO common; short MET, PRU and TROW calls; short LOPE and SPY puts.

Doug Kass is the president of Seabreeze Partners Management Inc. Under no circumstances does this information represent a recommendation to buy, sell or hold any security.
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DELL $0.00 0.00%
DIS $90.31 1.64%
F $11.17 -1.50%
GM $26.90 -2.92%
PG $79.90 -2.11%


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