AllianceBernstein Adds to Wellpoint, Cuts Genworth in QuarterKen Kohn
AllianceBernstein LP boosted holdings in WellPoint Inc. and reduced its stake in Genworth Financial Inc. during the third quarter.
The New York-based investment adviser added 3.39 million shares of WellPoint, according to a quarterly filing with the Securities and Exchange Commission. The value of AllianceBernstein’s stake increased by 281 percent to $572.2 million as of Sept. 30, the second-biggest jump in the firm’s U.S. stock holdings during the quarter. Wellpoint is the company’s 38th-largest U.S. stock holding.
AllianceBernstein cut its investment in Genworth by 17.4 million shares. The value of its stake declined by 96 percent to $13 million, the biggest decrease. It also reduced stakes in Valero Energy Corp. and United Technologies Corp.
AllianceBernstein’s U.S. equity holdings were little changed at about $117 billion. It owned shares in 3,385 companies at the end of the quarter and 131 of them were new, according to the filing. New investments were led by Mobileye NV, Alibaba Group Holding Ltd. and Otonomy Inc.
Money managers who oversee more than $100 million in equities in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.