List of Special Situation/Post Re-Org Equities Traded on the Distressed Desks

Over the long weekend, I went through my dealer and broker runs to come up with a equities that are either:

  1. Post Re-Org Equities
  2. Equities trading at distressed levels
  3. Companies currently in bankruptcy
  4. Equities that used to trade at distressed levels and are still held by a number of distressed funds.
You will notice on the list below that if the issuer stock is not traded publicly, I have marked it as "Privately Traded on Desks." These situations require investors to sign a confi agreement to receive information on the company. They are usually very illiquid (Delphi being a very good exception) and more often than not, if a desk is telling you to buy these securities, it means they have a large seller on the other end. Fortunes are made in these securities in bull markets, but when things go south, you will see them quoted down to unheard of levels. And because they are so rarely traded, you have to rely on the marks given to you by the desks. Yes you can fight them on it, but its rarely a worthwhile effort. They are sometimes called "hedge fund hotels" and "roach motels" (at least when you can't get out of the security).

Of the listed equities below, they would make excellent application ideas on the Distressed Debt Investors Club. There are 40 spots left of the 250 member limit. We currently have over 3,000 buy side and sell side guests. If you are interested in applying, please contact me. Without further ado, here is the list of special sit stocks traded off the distressed desks:

ABH - AbitibiBowater
ABVT - AboveNet Inc
ACW - Accuride
[Privately Traded on Desks- S1 Filed] - Aleris Inc
[Privately Traded on Desks- S1 Filed] - Ally Financial
ALLY 8.125 - GMAC Capital Trust Preferred
ALLY 8.5 - Ally Financial Perps
ARHN - Archon Corp
ACAS - American Capital
[Privately Traded on Desks] - American Media, Inc
[Privately Traded on Desks] - Angiotech Pharmaceuticals
[Privately Traded on Desks] - Anvil Holdings
[Privately Traded on Desks] - Ashmore Energy
AVRW - Aventine Renewable Energy
AUMN - Golden Minerals
BKEP - Blueknight Energy Partners
BLC - Belo Corp
[Privately Traded on Desks] - Building Materials Holdings Corp
[BLLY or Privately Traded on Desks] - Bally Total Fitness
BGPIQ - Borders Group
[Privately Traded on Desks - 144A] - Broder Brothers
BUFR - Buffets Restaurants
[Privately Traded on Desks] - CDX Gas Inc
CHTR - Charter Communications
CCHJW - Charter Warrents
CCMMW - Charter Warrents
CHHP - C&D Technologies
CCMO - CC Media Holdings
[CEMJQ - Privately Traded on Desks] - Chemtura Stubs
CHMT - Chemtura Equity
CNB 7.875 - Colonial CAP Trust Preferred
CNB 8.875 - Colonial BancGroup Preferreds
CIT - CIT Group
CDELA - Citadel Broadcasting Class A
CDELB - Citadel Broadcasting Class B
CDDGW - Citadel Broadcasting Warrents
CMLS - Cumulus Media
CODE - Spansion Inc
COSH - Cooper-Standard
[Privately Traded on Desks] - Crescent Resources
DAN - Dana Holding
[Privately Traded on Desks] - Deep Ocean Group (f/k/a Trico Marine)
DEXO - Dex One Corp
DIMEQ - Wamu/Dime Bancorp Warrant
DRL - Doral Financial
DPH - DPH Holdings (Delphi)
[Privately Traded on Desks] - ECI
[Privately Traded on Desks] - Education Media & Publishing
[Privately Traded on Desks] - Elkhorn Mining
EPL - Energy Partners
[Privately Traded on Desks] - Express Energy Services
FCSC - Fibrocell Science
FDML - Federal-Mogul
FMCC - Freddie Mac & All Flavors of Preferreds
FNMA - Fannie Mae & All Flavors of Preferreds
FRP - Fairpoint Communications
FSNN - Fusion Telecommunications
FTWR - FiberTower
[Privately Traded on Desks] - Freedom Communications
GGP - General Growth Properties
GLBC - Global Crossing
GLBS - Globus Maritime
GLPW - Global Power Equipment Group
GM - General Motors
GM 4.75 - General Motors Convertible Preferreds
GM/WS/A - General Motors A Warrants
GM/WS/B - General Motors B Warrants
GRA - WR Grace
GSAT - Globalstar
GRKT - Greektown Superholdings
GSIG - GSI Group
GCVRZ - Sanofi Adr
[Privately Traded on Desks] - Haights Cross Communications
HAWKQ - Seahawk Drilling
[Privately Traded on Desks] - Hayes Lemmerz
[Privately Traded on Desks] - Hellas Telecommunications
HWLT - Hawaiian Telecom
[Privately Traded on Desks] - Hawkeye Renewables
[Privately Traded on Desks] - Affinity (fka Herbst Gaming)
HHC - Howard Hughes
ICOG - ICO Global
[Privately Traded on Desks] - ION Media
[Privately Traded on Desks] - Insight Health
ITWG - Internationational Wire Group
[Privately Traded on Desks] - Journal Register
[Privately Traded on Desks] - KGen LLC
LEA - Lear Corp
LYB - LyondellBasell
LALWF - LyondellBasell Warrents
[Privately Traded on Desks] - Mark IV Industries
[Privately Traded on Desks] - Marsico Capital
MASWF - Masonite Worldwide
[Privately Traded on Desks] - MediaNews
MERC - Mercer International
[Privately Traded on Desks] - Merisant Worldwide
[Privately Traded on Desks] - Mesa Air Claim
[Privately Traded on Desks] - MGM Studios
MMPIQ- Meruelo Maddux
MTOR - Meritor Inc
[Privately Traded on Desks] - MXEnergy Holdings
MX - Magnachip Semiconductors
[Privately Traded on Desks] - North Atlantic Drilling
NNHE - Neenah Enterprises
[Privately Traded on Desks] - Newark Group
[Privately Traded on Desks] - Newhall Land Development
NRTLQ - Nortel Networks
NTKS - Nortek
NVIGF - Navigator Holdings
NOF NO - Northern Offshore
[Privately Traded on Desks] - Oriental Trading
[Privately Traded on Desks] - Pacific Ethanol LLC Units
[Privately Traded on Desks] - Penton Media
[Privately Traded on Desks] - Philadelphia News
ORMT - Ormet
PBSOQ - Point Black Solutions
PHOS - Phosphate Holdings
PPC - Pilgrim's Pride
PNC/A - Postmedia Network Canada
PTGI - Primus Telecom
QLTY - Quality Distribution
QUAD - Quad/Graphics
[Privately Traded on Desks] - Readers Digest
ROIAK - Radio One
[Privately Traded on Desks] - RHI Entertainment
RMYI - Remy International
[Privately Traded on Desks] - Satelites Mexicanos (SATMEX)
SALM - Salem Communications
SBGI - Sinclair Broadcast
SEAOF - SeaCo Ltd
SEMG - SemGroup
SIX - Six Flags
SFI - iStar Financial
SGGH - Signature Group Holdings
SGU - Star Gas Partners
SOA - Solutia Inc
SPB - Spectrum Brands
[Privately Traded on Desks] - Stallion Oil
[Privately Traded on Desks] - Star Tribune
SPMD - SuperMedia
TMB CN - Tembec Inc
TSTRQ - TerreStar
TPCG - TPC Group In
TRMAQ - Trico Marine Prepetition Equity
TROX - Tronox Inc
[Privately Traded on Desks] - Trump Entertainment
TPCA - Tropicana Entertainment
[Privately Traded on Desks] - Tropicana Las Vegas
USCR - US Concrete
[Privately Traded on Desks] - US Power Gen
[Privately Traded on Desks] - US Shipping
VRML - Vermillion
VC - Visteon Corp
VTSS - Vitesse Semiconductor
WALK - Walking Co Holdings
WAVE - Nextwave Wireless
WM 5.375 - Wamu Trust Convertible Preferred
WAMUQ - Wamu Preptition Equity
[Privately Traded on Desks] - WCI Communitities
[Privately Traded on Desks] - Wolverine Tube Reorg Equity
XOHO - XO Holdings
XRM - Xerium Technologies
VKSC - Viskase Cos
[Privately Traded on Desks] - Vitruvian Exploration
[Privately Traded on Desks] - Young Broadcasting


eclecticvalue,  7/06/2011  

Thank you hunter for an amazing compiled list. If you don't mind There is one that is missing and it is MMPIQ- Meruelo Maddux properties. Currently in bancruptcy but the effective date will be in July.


hunter [at] distressed-debt-investing [dot] com

About Me

I have spent the majority of my career as a value investor. For the past 8 years, I have worked on the buy side as a distressed debt and high yield investor.