Q1/2010 Report for Denali Advisors LLC Reveals 70 New Positions

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Denali Advisors LLC, according to their web site, is a "majority employee-owned, quantitative-based institutional investment management firm" that was founded in 2001.

According to their recently filed 13F-HR for Q1/2010, Denali Advisors LLC had about 400 positions that combined for around $1.47 billion in total market value at the end of the first quarter.

Denali's five biggest positions as of 03/31/2010 were:

Exxon Mobil (XOM) - 730,029 shares, $48,897,000
Verizon Communications, Inc (VZ) - 1,507,725 shares, $46,770,000
Bank of America Corp (BAC) - 2,457,522 shares, $43,867,000
Wells Fargo & Co (WFC) - 1,376,672 shares, $42,842,000
Chevron Corp (CVX) - 559,354 shares, $42,416,000

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As of the end of the first quarter, Denali Advisors LLC had opened 70 new positions compared to 12/31/09. Here are the top five in terms of total market value:

Goodrich Petroleum Corporation (GDP) - 665,900 shares, $10,415,000
Valero Energy Corporation (VLO) - 523,700 shares, $10,317,000
Tesoro Corporation (TSO) - 555,400 shares, $7,720,000
Global Payments Inc. (GPN) - 134,400 shares, $6,122,000
AeroVironment, Inc. (AVAV) - 164,100 shares, $4,285,000

Denali Advisors also closed 78 positions during the first quarter of 2010. Here are the top five by market value:

AMEDISYS Inc (AMED) - 243,800 shares, $11,849,000
Manitowoc Company, Inc. (MTW) - 751,500 shares, $7,492,000
McMoRan Exploration Co. (MMR) - 648,100 shares, $5,198,000
Forest Oil Corporation (FST) - 134,700 shares, $2,997,000
NVIDIA Corporation (NVDA) - 158,700 shares, $2,965,000

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Denali added to 105 of their existing positions during the first quarter. Here are the five positions that they added to the most:

+1,674,200 shares, Windstream Corporation (WIN)
+1,150,500 shares, AMR Corporation (AMR)
+1,148,500 shares, Dean Foods Co (DF)
+714,600 shares, SUPERVALU, Inc. (SVU)
+636,900 shares, SLM Corporation (SLM)

Denali also reduced 136 of their positions in size during the first quarter. Here are the five positions that they reduced the most (in terms of total shares):

-1,492,300 shares, Gannett Co. Inc. (GCI)
-1,254,900 shares, UAL Corporation (UAUA)
-532,900 shares, Stone Energy Corporation (SGY)
-400,006 shares, Fluor Corp (FLR)
-327,400 shares, ArvinMeritor Inc (ARM)