Robert Bruce

Robert Bruce

Last Update: 2014-08-14

Number of Stocks: 54
Number of New Stocks: 2

Total Value: $434 Mil
Q/Q Turnover: 3%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Robert Bruce' s Profile & Performance

Profile

Robert Bruce is Founder of the Bruce Fund (BRUFX) run by Robert and son, Jeff. From 2000 through 2006, the Bruce Fund returned annualized 29.7%. Bruce's previous returns and more recent returns have been lower.

Web Page:http://www.thebrucefund.com/

Investing Philosophy

Bruce invests in stocks -- mostly small- and mid-cap plus the occasional large-cap -- and convertible and distressed bonds. The Bruce's tend to hold their stocks for the long-term.

Total Holding History

Performance of Bruce Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201318.9531.55-12.6
20127.8615.4-7.5
20117.242.085.2
3-Year Cumulative37.6 (11.2%/year)55 (15.7%/year)-17.4 (-4.5%/year)
201023.9615.068.9
200932.2626.465.8
5-Year Cumulative125.6 (17.7%/year)125.5 (17.7%/year)0.1 (0%/year)
2008-27.27-379.7
2007-5.135.61-10.7
200617.7215.791.9
20057.694.912.8
200457.191245.2
10-Year Cumulative210.2 (12%/year)104.1 (7.4%/year)106.1 (4.6%/year)
200366.8228.738.1
20029.23-22.131.3
200122.48-11.934.4
200038.64-9.147.7
1999-19.7821-40.8
15-Year Cumulative669.9 (14.6%/year)98.3 (4.7%/year)571.6 (9.9%/year)
1998-6.0228.6-34.6
199730.2433.4-3.2
1996-2.3223-25.3
199564.7737.627.2
1994-16.081.3-17.4
20-Year Cumulative1172.7 (13.6%/year)483.2 (9.2%/year)689.5 (4.4%/year)
199319.4410.19.3
199210.637.63.0
19911.4230.5-29.1
1990-1.07-3.12.0
198915.6631.7-16.0
25-Year Cumulative1851.6 (12.6%/year)1050.7 (10.3%/year)800.9 (2.3%/year)
198812.8916.6-3.7
1987-18.095.1-23.2
198629.6318.611.0
198538.7231.67.1
19846.236.10.1
30-Year Cumulative3347.3 (12.5%/year)2235.1 (11.1%/year)1112.2 (1.4%/year)

Top Ranked Articles

Robert Bruce Top Holdings: American Italian Pasta Company, America Service Group Inc., Amerco, Arena Resources Inc., Kinross Gold Corp., ATP Oil & Gas Corp. Robert Bruce: Balanced, Patient and Concentrated Approach
(GuruFocus, February 11, 2010) Investment Guru Robert Bruce manages a very small fund – the Bruce Fund. The 2009 annual report discloses that the fund has $185 million total assets. The Fund manager manages money quietly. He does not grant media interview, nor does he write column articles for newspaper or magazines. Read more...
Buffett Ratio Guru Portfolio Analysis - The Portfolio of Robert Bruce Analyzed
The following is an analysis of the most current portfolio of Robert Bruce. This analysis will use a system that I designed that is based on the ratio that Warren Buffet released to the public in 1986, which he coined “Owner Earnings.” For those new to this type of analysis, I would recommend reading an introduction to my system here. Read more...
Robert Bruce Top Holdings: American Italian Pasta Company, America Service Group Inc., Kinross Gold Corp., Amerco , Arena Resources Inc. , GAINSCO INC Small-Cap Guru: Robert Bruce
(GuruFocus, October 2, 2009) Bruce Berkowitz of Fairholme Fund is always very candid when asked about his investment approach and he does not mind commenting on his individual holdings. He runs a concentrated portfolio and the room for error is pretty thin, so by opening himself to the public, he better be familiar to the story behind stocks and ready to defend them. Recently, Berkowitz defended his allocating 41% of his assets on Health Care sector in the midst of a national Health Care reform and the uncertainties coming with the debate. Read more...
Electrifying Stocks and Bright Ideas - Utilities on a 52-Week Low
After thousands of attempts, prolific inventor Thomas Edison made his first public demonstration of the incandescent light bulb in 1879. He is quoted as saying, “We will make electricity so cheap that only the rich will burn candles.” Edison’s company, Edison Electric Light Company, was formed in 1878, with a financial boost from the investor gurus of his century, including J.P. Morgan and the Vanderbilts. Read more...
Weekly CEO Buys Highlight: CTAS, VRX, TAT, AGEN, MRK
Last week’s top five stocks that were bought by their CEOs were CTAS, VRX, TAT, AGEN, and MRK. According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

Cintas Corp. (CTAS): CEO, 10% Owner Scott D Farmer Bought 650,000 Shares

CEO, 10% Owner of Cintas Corp. (CTAS) Scott D Farmer bought 650,000 shares on 08/11/2011 at an average price of $28.44. Cintas Corp. provides a specialized service to businesses of all types - from small service and manufacturing companies to major corporations. Cintas Corp. has a market cap of $3.8 billion; its shares were traded at around $28.44 with a P/E ratio of 17.2 and P/S ratio of 1. The dividend yield of Cintas Corp. stocks is 1.7%. Cintas Corp. had an annual average earnings growth of 2.4% over the past 10 years.

CTAS recently reported results for its fourth quarter ended May 31, 2011. Revenue was $1,012.1 million, representing an 11.3% increase compared to last year’s fourth quarter. Organic growth, which adjusts for the impact of acquisitions, was 8.0%. Net income increased 27.6% to $70.8 million as compared to $55.5 million in last year’s fourth quarter. Earnings per diluted share for the fourth quarter were $0.49, a 36.1% increase over the $0.36 earnings per diluted share reported in last year’s fourth quarter. Last year’s fourth quarter results included a restructuring item which increased net income by $1.9 million and earnings per diluted share by $0.01.

Richard Aster Jr owns 455,000 shares as of 06/30/2011, an increase of 45% from the previous quarter. This position accounts for 0.4415% of the $3.4 billion portfolio of Meridian Fund. Jean-Marie Eveillard owns 16,276,792 shares as of 06/30/2011, which accounts for 2.4884% of the $21.61 billion portfolio of First Eagle Investment Management, LLC. Arnold Van Den Berg owns 281,576 shares as of 06/30/2011, which accounts for 0.8794% of the $1.06 billion portfolio of Century Management. Tweedy Browne owns 502,947 shares as of 06/30/2011, which accounts for 0.548% of the $3.03 billion portfolio of Tweedy Browne CO LLC. Robert Olstein owns 154,000 shares as of 06/30/2011, a decrease of 44% of from the previous quarter. This position accounts for 0.8973% of the $567 million portfolio of Olstein Financial Alert Fund.

10% Owner Hill Partners, Lllp Summer bought 650,000 shares of CTAS stock on 08/11/2011 at the average price of 27.46. Hill Partners, Lllp Summer owns at least 17,386,387 shares after this. The price of the stock has increased by 3.57% since.

Valeant Pharmaceuticals International Inc. (VRX): CEO J. Michael Pearson Bought 155,642 Shares

CEO of Valeant Pharmaceuticals International Inc. (VRX) J. Michael Pearson bought 155,642 shares on 08/11/2011 at an average price of $39.66. Valeant Pharmaceuticals International, Inc. is a pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. Valeant Pharmaceuticals International Inc. has a market cap of $12.31 billion; its shares were traded at around $39.66 with a P/E ratio of 29.7 and P/S ratio of 10.4.

Valeant Pharmaceuticals recently reported its second quarter 2011 results. The Company reported net income of $56.4 million for the second quarter of 2011, or $0.17 per diluted share. On a Cash EPS basis, income was $240.2 million, or $0.73 per diluted share.

Chris Davis bought 309,349 shares in the quarter that ended on 06/30/2011, which is 0.0289% of the $55.69 billion portfolio of Davis Selected Advisers. George Soros bought 15,000 shares in the quarter that ended on 06/30/2011, which is 0.011% of the $7.11 billion portfolio of Soros Fund Management LLC. Glenn Greenberg owns 3,533,654 shares as of 06/30/2011, an increase of 47.77% from the previous quarter. This position accounts for 16.0429% of the $1.14 billion portfolio of Brave Warrior Capital.

EVP, Interim CFO Philip Walden Loberg Jr bought 7,500 shares of VRX stock on 06/09/2011 at the average price of 52.82. Philip Walden Loberg Jr owns at least 137,565 shares after this. The price of the stock has decreased by 24.91% since. Other insiders have also increased their positions in the company.

TransAtlantic Petroleum Ltd. (TAT): CEO, 10% Owner Noah Malone Mitchell Iii Bought 1,235,750 Shares

CEO, 10% Owner of TransAtlantic Petroleum Ltd. (TAT) Noah Malone Mitchell Iii bought 1,235,750 shares during the past week at an average price of $1.05. TransAtlantic Petroleum Ltd. is a vertically integrated, international oil and gas company. Transatlantic Petroleum Ltd. has a market cap of $356.5 million; its shares were traded at around $1.05 with and P/S ratio of 12.1.

Whitney Tilson owns 650,000 shares as of 06/30/2011, an increase of 18.18% from the previous quarter. This position accounts for 0.3128% of the $353 million portfolio of T2 Partners Management, LP.

Agenus Inc. (AGEN): Chairman & CEO Garo H Armen Bought 2,150,976 Shares

Chairman & CEO of Agenus Inc. (AGEN) Garo H Armen bought 2,150,976 shares on 08/16/2011 at an average price of $0.5. Agenus Inc., formerly known as Antigenics Inc., is engaged in the discovery, development and commercialization of immunotherapeutics for the treatment of life threatening and chronic medical conditions. Agenus Inc. has a market cap of $54.7 million; its shares were traded at around $0.5 with and P/S ratio of 16.2.

Agenus Inc. recently reported its results for the quarter and six months ended June 30, 2011. The company reported a net loss attributable to common stockholders of $6.0 million, or $0.05 per share, basic and diluted, for the second quarter of 2011, compared with a net loss attributable to common stockholders in the second quarter of 2010 of $5.2 million, or $0.05 per share, basic and diluted.

Robert Bruce owns 1,401,099 shares as of 06/30/2011, which accounts for 0.5309% of the $206 million portfolio of Bruce & Co..

Merck & Co. Inc. (MRK): President & CEO Kenneth C Frazier Bought 32,000 Shares

President & CEO of Merck & Co. Inc. (MRK) Kenneth C Frazier bought 32,000 shares on 08/15/2011 at an average price of $31.26. Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Merck & Co. Inc. has a market cap of $96.92 billion; its shares were traded at around $31.26 with a P/E ratio of 8.7 and P/S ratio of 2.1. The dividend yield of Merck & Co. Inc. stocks is 4.8%.

Worldwide sales were $12.2 billion for the second quarter of 2011, the highest quarterly sales total for the combined company and an increase of 7 percent compared with the second quarter of 2010. Foreign exchange for the quarter favorably affected global sales performance by 4 percent. The revenue increase largely reflects strong sales of several drugs. Pharmaceutical sales from emerging markets accounted for 18 percent of sales in the quarter.

Joel Greenblatt owns 89,085 shares as of 06/30/2011, an increase of 376.87% from the previous quarter. This position accounts for 0.4395% of the $715 million portfolio of Gotham Capital. Robert Bruce owns 136,000 shares as of 06/30/2011, an increase of 102.99% from the previous quarter. This position accounts for 2.333% of the $206 million portfolio of Bruce & Co.. Bill Nygren owns 2,071,535 shares as of 03/31/2011, an increase of 31.82% from the previous quarter. This position accounts for 1.78% of the $3.85 billion portfolio of Oak Mark Fund. Mark Hillman owns 44,544 shares as of 06/30/2011, an increase of 18.96% from the previous quarter. This position accounts for 0.386% of the $407 million portfolio of Hillman Capital Management.

Exe V-P & CFO Peter N Kellogg bought 15,800 shares of MRK stock on 08/12/2011 at the average price of 31.8. Peter N Kellogg owns at least 53,999 shares after this. The price of the stock has decreased by 1.7% since. Read more...
» More Robert Bruce Articles

Commentaries and Stories

  • Currently 3.50/5

Rating: 3.5/5 (4 votes)

Electrifying Stocks and Bright Ideas - Utilities on a 52-Week Low Mario Gabelli,Robert Bruce - Electrifying Stocks And Bright Ideas - Utilities On A 52-Week Low
After thousands of attempts, prolific inventor Thomas Edison made his first public demonstration of the incandescent light bulb in 1879. He is quoted as saying, “We will make electricity so cheap that only the rich will burn candles.” Edison’s company, Edison Electric Light Company, was formed in 1878, with a financial boost from the investor gurus of his century, including J.P. Morgan and the Vanderbilts. More...

UTILITIES – DIVERSIFIED, UTILITIES – REGULATED ELECTRIC


  • Currently 3.38/5

Rating: 3.4/5 (13 votes)

Buffett Ratio Guru Portfolio Analysis - The Portfolio of Robert Bruce Analyzed
The following is an analysis of the most current portfolio of Robert Bruce. This analysis will use a system that I designed that is based on the ratio that Warren Buffet released to the public in 1986, which he coined “Owner Earnings.” For those new to this type of analysis, I would recommend reading an introduction to my system here. More...

TURNAROUND, GROWTH, MUTUAL FUNDS, OWNER EARNINGS, PERFORMANCE, WARREN BUFFETT


  • Currently 2.36/5

Rating: 2.4/5 (11 votes)

Weekly CEO Buys Highlight: CTAS, VRX, TAT, AGEN, MRK
Last week’s top five stocks that were bought by their CEOs were CTAS, VRX, TAT, AGEN, and MRK. According to GuruFocus Insider Data, these are the largest CEO buys during the past week. Cintas Corp. (CTAS): CEO, 10% Owner Scott D Farmer Bought 650,000 Shares CEO, 10% Owner of Cintas Corp. (CTAS) Scott D Farmer bought 650,000 shares on 08/11/2011 at an average price of $28.44. Cintas Corp. provides a specialized service to businesses of all types - from small service and manufacturing companies to major corporations. Cintas Corp. has a market cap of $3.8 billion; its shares were traded at around $28.44 with a P/E ratio of 17.2 and P/S ratio of 1. The dividend yield of Cintas Corp. stocks is 1.7%. Cintas Corp. had an annual average earnings growth of 2.4% over the past 10 years. CTAS recently reported results for its fourth quarter ended May 31, 2011. Revenue was $1,012.1 million, representing an 11.3% increase compared to last year’s fourth quarter. Organic growth, which adjusts for the impact of acquisitions, was 8.0%. Net income increased 27.6% to $70.8 million as compared to $55.5 million in last year’s fourth quarter. Earnings per diluted share for the fourth quarter were $0.49, a 36.1% increase over the $0.36 earnings per diluted share reported in last year’s fourth quarter. Last year’s fourth quarter results included a restructuring item which increased net income by $1.9 million and earnings per diluted share by $0.01. Richard Aster Jr owns 455,000 shares as of 06/30/2011, an increase of 45% from the previous quarter. This position accounts for 0.4415% of the $3.4 billion portfolio of Meridian Fund. Jean-Marie Eveillard owns 16,276,792 shares as of 06/30/2011, which accounts for 2.4884% of the $21.61 billion portfolio of First Eagle Investment Management, LLC. Arnold Van Den Berg owns 281,576 shares as of 06/30/2011, which accounts for 0.8794% of the $1.06 billion portfolio of Century Management. Tweedy Browne owns 502,947 shares as of 06/30/2011, which accounts for 0.548% of the $3.03 billion portfolio of Tweedy Browne CO LLC. Robert Olstein owns 154,000 shares as of 06/30/2011, a decrease of 44% of from the previous quarter. This position accounts for 0.8973% of the $567 million portfolio of Olstein Financial Alert Fund. 10% Owner Hill Partners, Lllp Summer bought 650,000 shares of CTAS stock on 08/11/2011 at the average price of 27.46. Hill Partners, Lllp Summer owns at least 17,386,387 shares after this. The price of the stock has increased by 3.57% since. Valeant Pharmaceuticals International Inc. (VRX): CEO J. Michael Pearson Bought 155,642 Shares CEO of Valeant Pharmaceuticals International Inc. (VRX) J. Michael Pearson bought 155,642 shares on 08/11/2011 at an average price of $39.66. Valeant Pharmaceuticals International, Inc. is a pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. Valeant Pharmaceuticals International Inc. has a market cap of $12.31 billion; its shares were traded at around $39.66 with a P/E ratio of 29.7 and P/S ratio of 10.4. Valeant Pharmaceuticals recently reported its second quarter 2011 results. The Company reported net income of $56.4 million for the second quarter of 2011, or $0.17 per diluted share. On a Cash EPS basis, income was $240.2 million, or $0.73 per diluted share. Chris Davis bought 309,349 shares in the quarter that ended on 06/30/2011, which is 0.0289% of the $55.69 billion portfolio of Davis Selected Advisers. George Soros bought 15,000 shares in the quarter that ended on 06/30/2011, which is 0.011% of the $7.11 billion portfolio of Soros Fund Management LLC. Glenn Greenberg owns 3,533,654 shares as of 06/30/2011, an increase of 47.77% from the previous quarter. This position accounts for 16.0429% of the $1.14 billion portfolio of Brave Warrior Capital. EVP, Interim CFO Philip Walden Loberg Jr bought 7,500 shares of VRX stock on 06/09/2011 at the average price of 52.82. Philip Walden Loberg Jr owns at least 137,565 shares after this. The price of the stock has decreased by 24.91% since. Other insiders have also increased their positions in the company. TransAtlantic Petroleum Ltd. (TAT): CEO, 10% Owner Noah Malone Mitchell Iii Bought 1,235,750 Shares CEO, 10% Owner of TransAtlantic Petroleum Ltd. (TAT) Noah Malone Mitchell Iii bought 1,235,750 shares during the past week at an average price of $1.05. TransAtlantic Petroleum Ltd. is a vertically integrated, international oil and gas company. Transatlantic Petroleum Ltd. has a market cap of $356.5 million; its shares were traded at around $1.05 with and P/S ratio of 12.1. Whitney Tilson owns 650,000 shares as of 06/30/2011, an increase of 18.18% from the previous quarter. This position accounts for 0.3128% of the $353 million portfolio of T2 Partners Management, LP. Agenus Inc. (AGEN): Chairman & CEO Garo H Armen Bought 2,150,976 Shares Chairman & CEO of Agenus Inc. (AGEN) Garo H Armen bought 2,150,976 shares on 08/16/2011 at an average price of $0.5. Agenus Inc., formerly known as Antigenics Inc., is engaged in the discovery, development and commercialization of immunotherapeutics for the treatment of life threatening and chronic medical conditions. Agenus Inc. has a market cap of $54.7 million; its shares were traded at around $0.5 with and P/S ratio of 16.2. Agenus Inc. recently reported its results for the quarter and six months ended June 30, 2011. The company reported a net loss attributable to common stockholders of $6.0 million, or $0.05 per share, basic and diluted, for the second quarter of 2011, compared with a net loss attributable to common stockholders in the second quarter of 2010 of $5.2 million, or $0.05 per share, basic and diluted. Robert Bruce owns 1,401,099 shares as of 06/30/2011, which accounts for 0.5309% of the $206 million portfolio of Bruce & Co.. Merck & Co. Inc. (MRK): President & CEO Kenneth C Frazier Bought 32,000 Shares President & CEO of Merck & Co. Inc. (MRK) Kenneth C Frazier bought 32,000 shares on 08/15/2011 at an average price of $31.26. Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Merck & Co. Inc. has a market cap of $96.92 billion; its shares were traded at around $31.26 with a P/E ratio of 8.7 and P/S ratio of 2.1. The dividend yield of Merck & Co. Inc. stocks is 4.8%. Worldwide sales were $12.2 billion for the second quarter of 2011, the highest quarterly sales total for the combined company and an increase of 7 percent compared with the second quarter of 2010. Foreign exchange for the quarter favorably affected global sales performance by 4 percent. The revenue increase largely reflects strong sales of several drugs. Pharmaceutical sales from emerging markets accounted for 18 percent of sales in the quarter. Joel Greenblatt owns 89,085 shares as of 06/30/2011, an increase of 376.87% from the previous quarter. This position accounts for 0.4395% of the $715 million portfolio of Gotham Capital. Robert Bruce owns 136,000 shares as of 06/30/2011, an increase of 102.99% from the previous quarter. This position accounts for 2.333% of the $206 million portfolio of Bruce & Co.. Bill Nygren owns 2,071,535 shares as of 03/31/2011, an increase of 31.82% from the previous quarter. This position accounts for 1.78% of the $3.85 billion portfolio of Oak Mark Fund. Mark Hillman owns 44,544 shares as of 06/30/2011, an increase of 18.96% from the previous quarter. This position accounts for 0.386% of the $407 million portfolio of Hillman Capital Management. Exe V-P & CFO Peter N Kellogg bought 15,800 shares of MRK stock on 08/12/2011 at the average price of 31.8. Peter N Kellogg owns at least 53,999 shares after this. The price of the stock has decreased by 1.7% since. More...

  • Currently 3.12/5

Rating: 3.1/5 (17 votes)

Robert Bruce Top Holdings: American Italian Pasta Company, America Service Group Inc., Amerco, Arena Resources Inc., Kinross Gold Corp., ATP Oil & Gas Corp. Robert Bruce: Balanced, Patient and Concentrated Approach
(GuruFocus, February 11, 2010) Investment Guru Robert Bruce manages a very small fund – the Bruce Fund. The 2009 annual report discloses that the fund has $185 million total assets. The Fund manager manages money quietly. He does not grant media interview, nor does he write column articles for newspaper or magazines. More...

  • Currently 3.45/5

Rating: 3.5/5 (11 votes)

Robert Bruce Top Holdings: American Italian Pasta Company, America Service Group Inc., Kinross Gold Corp., Amerco , Arena Resources Inc. , GAINSCO INC Small-Cap Guru: Robert Bruce
(GuruFocus, October 2, 2009) Bruce Berkowitz of Fairholme Fund is always very candid when asked about his investment approach and he does not mind commenting on his individual holdings. He runs a concentrated portfolio and the room for error is pretty thin, so by opening himself to the public, he better be familiar to the story behind stocks and ready to defend them. Recently, Berkowitz defended his allocating 41% of his assets on Health Care sector in the midst of a national Health Care reform and the uncertainties coming with the debate. More...

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