Thursday, April 23, 2009

 

PhillyDeals: The strange portfolio of Acorn Capital

Acorn Capital Management L.L.C., the Kennett Square investment firm whose assets were frozen by the Securities and Exchange Commission on Tuesday, had a peculiar investment portfolio, according to its last quarterly SEC filing.

Acorn told the SEC it had invested $58 million in client funds in 82 stocks, from Abbott Labs to Zoll Medical. Not an unusual profile for a smallish firm.

Except that more than half the money was in a single stock - $31 million in Campbell Soup...

Philly: PhillyDeals: The strange portfolio of Acorn Capital

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