Brian Rogers

Brian Rogers

Last Update: 2014-04-15

Number of Stocks: 117
Number of New Stocks: 6

Total Value: $27,736 Mil
Q/Q Turnover: 2%

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

Brian Rogers Watch

  • Brian Rogers' T. Rowe Price Equity Income Fund First Quarter 2014 Commentary

    Most U.S. equities advanced during the first quarter in a volatile session characterized by a sell-off in emerging market currencies, increased geopolitical tensions, and the transition of leadership at the Federal Reserve. Economic data were mixed, influenced by unusually cold weather across the country. Investors grew concerned about potential deflation in Europe and a larger-than-expected slowdown in the Chinese economy. Sector performance was uneven, as some areas that provided leadership in 2013 pulled back while others rose. The utilities sector was strongest, with investors seeking income-producing stocks, while health care, information technology, and financials also did well. Consumer discretionary, energy, and industrials and business services shares were laggards.


    The Equity Income Fund returned 1.59% in the quarter compared with 1.81% for the S&P 500 Index and 2.04% for the Lipper Equity Income Funds Index. For the 12 months ended March 31, 2014, the fund returned 18.55% versus 21.86% for the S&P 500 Index and 18.76% for the Lipper Equity Income Funds Index. The fund's average annual total returns were 18.55%, 21.26%, and 7.52% for the 1-, 5-, and10-year periods, respectively, as of March 31, 2014. The fund's expense ratio was 0.68% as of its fiscal year ended December 31, 2012.

      


  • Brian Rogers' T. Rowe Price Equity Income Fund Annual Letter

    The equity market advanced sharply in 2013, providing excellent returns in both halves of the year with only minor setbacks along the way. Encouraging economic news, healthy gains in corporate earnings, and renewed investor interest in equities combined to create a favorable environment for stocks, with the S&P 500 Index generating a total return of 32.39%. Large-cap value stocks, with their relatively high dividend yields, participated fully in the rally. Investors seeking dividend income and appreciation fared far better than fixed income investors, who saw their investments struggle through most of the year. Concerns about likely changes in Federal Reserve policy triggered a rise in interest rates, which put pressure on longer-term Treasuries. The 10-year Treasury yield rose more than a full percentage point in 2013 and closed the year above 3%.


    In this environment, the Equity Income Fund returned 13.70% in the second half, trailing the 16.31% return of the S&P 500 Index and slightly outperforming the 13.50% return of the Lipper Equity Income Funds Index. For the year, the fund returned 29.75%, lagging the 32.39% of the S&P while surpassing the Lipper Equity Income Funds Index's 28.70% return. (Returns for the Advisor and R Class shares are also shown and reflect their different fee structures.)

      


  • T. Rowe Price CIO Brian Rogers Joins GuruFocus for Q&A – Ask an Investing Question

    GuruFocus welcomes Brian Rogers (Trades, Portfolio) to Q&A with our readers. Brian is chairman and chief investment officer of T. Rowe Price, a firm with $692.4 billion in assets as of Dec. 31, 2013. He is also fund manager of the T. Rowe Price Equity Income Fund (PRFDX), a portfolio with net assets of $28.5 billion, which seeks dividend income and long-term capital growth through investment in value-oriented stocks.


    To ask him your investing question, post it in the comments section below. 

      


  • GuruFocus Names Five Dividend Growers

    During the past week, GuruFocus recognized five companies as dividend growers. In order to be qualified for this list, the company had to:




  • Citadel Advisor - Among the Largest and Most Successful Hedge Funds in the World

    Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings filed by institutional investment managers with at least $100 million in equity assets under management, as required by the U.S. Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Citadel Advisor LLC from Kenneth C. Griffin, a Chicago-based investment firm.


    Recently the fund reported its equity portfolio, as at the end of last year. The total value of the portfolio amounted to $49.2 billion, up from $42.2 billion disclosed at the end of the previous quarter. Consequently, the fund's total return was 16.8% in the last quarter. The filing revealed that at the end of last year, the fund added 493 new positions to its equity portfolio, and sold out of 362 other companies. The top 10 portfolio holdings as of the end of the quarter represented 9.01%. The largest changes from previous 13-F filings are in the consumer discretionary sector (3%) followed by health care and technological stocks (around 0.4% each).

      


  • Coca-Cola, or the Profit Generator

    The Coca-Cola Company (KO) is without a doubt the world’s largest and most popular non-alcoholic beverage company. With core brands like Coca-Cola, Sprite, Powerade or Minute Maid as the backbone, this firm riels in several billion dollars a year in revenues, with 60% accounted for through international sales. And in addition to this, Coca-Cola’s deal with Coca-Cola Enterprises Inc. (CCE) gave the company ownership over 80% of its distribution in North America, increasing its pricing power.


    Despite some near-term headwinds regarding Mexico’s new soda taxes and a decline in diet-soda consumption in the domestic market, investors can expect the company to keep growing at solid rates due to its growing consumer base in emerging markets. Furthermore, management’s plan to reduce costs by $1 billion until 2016 will have a positive effect on the brand power, as these cost savings will be reinvested in media and marketing strategies.

      


  • Everyone Hates Emerging Markets. It’s Time to Buy Emerging Markets


    “The buy side hates emerging markets. The sell side hates emerging markets. Technicians and quants hate emerging markets. I think it’s great. Combine this bearish sentiment with what is, at worst, a neutral valuation case, and things start to look positive… Valuations are attractive, relative to developed markets.”

      


  • Brian Rogers' Roundtable Year-End Report Card

    Every year Barron’s gets its Roundtable team together and they discuss stock picks and the status of the economy in general.  Guru Brian Rogers (Trades, Portfolio) is a member of Barron’s Roundtable team, and the following stocks are his stock picks for 2013 and how they ended up doing for the year. 


    PNC Financial Services Group (PNC)

      


  • Brian Rogers T. Rowe Price Equity Income Fund Fourth Quarter Commentary

    The U.S. equity market continued to rally through the fourth quarter against a backdrop of stabilizing fiscal policy, positive economic data, improving investor sentiment, and the Federal Reserve's decision to taper its monthly asset purchases. A government budget deal provided some fiscal clarity for the first time in four years, while improving labor and housing data led to the Fed's decision to reduce asset purchases starting in January 2014. Positive sentiment seemed to build as cash flows into stocks accelerated into the end of the year.


    The Equity Income Fund returned 8.73% in the quarter compared with 10.51% for the S&P 500 Index and 8.97% for the Lipper Equity Income Funds Index. For the 12 months ended December 31, 2013, the fund returned 29.75% versus 32.39% for the S&P 500 Index and 28.70% for the Lipper Equity Income Funds Index. The fund's average annual total returns were 29.75%, 16.92%, and 7.56% for the 1-5-, and 10-year periods, respectively, as of December 31, 2013. The fund's expense ratio was 0.68% as of its fiscal year ended December 31, 2012.

      


  • A Diversified Financial Services Company – Brian Rogers Sold Out

    According to GuruFocus Real Time Picks, on Dec. 31 Brian Rogers (Trades, Portfolio) sold out his stake in Capital One Financial Corp. (COF). The Consumer Finance sector is dominated by three credit card companies: American Express (AXP), Discover Financial Services (DFS) and Capital One Financial. The business consists of charging small fees to consumer transactions. Although new legislation has arisen to protect consumers from credit card banks, I do not expect this to have a major impact on profitability. So what made Rogers cut back his position?


    Two Strategic Acquisitions

      


  • Brian Rogers' Top Five Fourth Quarter Holdings

    Brian Rogers of the T. Rowe Price Equity Income Fund recently released his fourth quarter portfolio updates which report that he has three new holdings, 14 increases, 14 reductions and six stocks that he sold out of.   The guru’s most recent portfolio holds 115 stocks valued at $27.65 billion.



    Brian Rogers has been the portfolio manager of T. Rowe Price Equity Income Fund since its inception in 1985. Rogers looks for common stocks of established firms that are expected to pay above-average dividends. The following five companies are the five stocks that Rogers holds the largest stake in.

      


  • Value Investor Brian Rogers - Nothing Is Cheap, Pockets of Craziness Exist

    A lot has changed from five years ago when everything was cheap.




      


  • DGX, STO, LSE:DOM - Gurus Hold Stocks Traded at 10-Year Low P/B

    According to the GuruFocus Value Screen that shows value strategies of stocks traded at historical low P/B ratios, Quest Diagnostics Inc. (DGX), Statoil ASA (STO) and Domino’s Pizza Group PLC (LSE:DOM) are stocks owned by gurus and traded at or near their 10-year historical low P/B ratios. Check out these company updates and trade highlights as of the third quarter of 2013.

    Quest Diagnostics Inc. (DGX)  


  • Brian Rogers Changes His Mind on Apple at Lower Valuation

    Back in March 2012, when many firms were cashing in on Apple (AAPL)’s astronomical growth, Bloomberg noted that the stock was “conspicuously absent” from Brian Rogers’ portfolio. Rogers, the chairman and chief investment officer overseeing $500 billion at T. Rowe Price, responded at the time that Apple was not right for his firm’s value funds. A little while later, he did an about-face on the stock, taking a large position and adding shares as recently as the third quarter.

    2012  


  • Brian Rogers' T. Rowe Price Equity Income Fund Semi-Annual Report 2013

    Fellow Shareholders The first half of 2013 was rewarding for equity investors, lackluster for money market investors, and troubling for fixed income investors. U.S. stock prices rose despite weakness in June, as corporate earnings advanced, sentiment improved, and investors slowly reallocated assets to the equity market. Money market fund returns hovered in barely positive territory, while fixed income securities sold off as concerns mounted about changes in Federal Reserve policy, resulting in sharp losses for bond investors.

      


  • Gurus and Insiders on Alcoa, CTL and WPX

    Here are the third quarter updates for Alcoa Inc. (AA), WPX Energy (WPX) and CenturyLink Inc. (CTL), all near the bottom of the S&P500, all with active insiders and all broadly held by billionaire investors.

    Alcoa Inc. is up 1% year to date. Yesterday in Cleveland, Alcoa’s CEO Klaus Kleinfeld dispelled worries that aluminum is unavailable, calling the claim “a total myth,” according to Bloomberg. Down 22% year to date, CenturyLink Inc. reported adding 33,000 broadband customers and almost 17,000 Prism TV customers in third quarter. WPX Energy (WPX) is up 23% since January but reported a net loss of $212 million over the first nine months of 2013.  


  • Brian Rogers Update - T. Rowe Price High-Impact Sells

    The third quarter portfolio update of Brian Rogers, portfolio manager of the T. Rowe Price Equity Income Fund, shows 118 stocks, four of them new. The fund’s total value is $25.9 billion, with a quarter-over-quarter turnover of 2%. The portfolio is currently weighted with top three sectors: financial services at 19.9%, industrials at 15.2% and energy at 15.1%. Guru Brian Rogers has averaged a return of 10.62% over 12 months.

    In the third quarter of 2013, Brian Rogers sold out six holdings and reduced five positions. Here’s a look at four of his highest-impact sells, as of the quarter ending Sept. 30, 2013:  


  • Brian Rogers' Equity Income Fund Q3 Letter

    U.S. stocks rose in the third quarter, extending this year's impressive rally, despite moderating corporate fundamentals. The market also overcame an increase in long-term interest rates, which was driven by expectations that the Federal Reserve would begin reducing its asset purchases after its September monetary policy meeting. The central bank surprised investors by deciding to delay the taper until it receives "more evidence" that the economic recovery "will be sustained." Although several major stock market indexes reached multiyear or all-time highs in mid-September, shares sagged as the quarter ended amid concerns about the underlying strength of the economy and the growing probability of a federal government shutdown and debt ceiling showdown in October.

    [b]Performance  


  • Brian Rogers' Third Quarter Top Five Holdings

    Brian Rogers of the T. Rowe Price Equity Income Fund recently released his third quarter portfolio updates which report that he has four new holdings, eight increases, 16 reductions and six stocks that he sold out of.

    Brian Rogers has been the portfolio manager of T. Rowe Price Equity Income Fund since its inception in 1985. Rogers looks for common stocks of established firms that are expected to pay above-average dividends. The following five companies are the five stocks that Rogers holds the largest stake in.  


  • Brian Rogers' T. Rowe Price Equity Income Fund Second Quarter 2013 Commentary

    U.S. stocks gained in the second quarter but gave up some ground in June after climbing for seven straight months, the longest winning streak since 2009. Federal Reserve Chairman Ben Bernanke unnerved markets when he commented that the Fed might scale back its monthly asset purchases later this year and possibly end them in mid-2014. The program has helped keep interest rates low and sustain the momentum propelling stocks. In addition, first-quarter U.S. economic growth was revised downward from earlier estimates, which also weighed on share prices.

    The Equity Income Fund returned 2.63% in the quarter compared with 2.91% for the S&P 500 Index and 2.53% for the Lipper Equity Income Funds Index. For the 12 months ended June 30, 2013, the fund returned 23.66% versus 20.60% for the S&P 500 Index and 20.52% for the Lipper Equity Income Funds Index. The fund's average annual total returns were 23.66%, 7.37%, and 7.64% for the 1-, 5-, and10-year periods, respectively, as of June 30, 2013. The fund's expense ratio was 0.68% as of its fiscal year ended December 31, 2012.  


Add Notes, Comments or Ask Questions

User Comments

Mpdowd
ReplyMpdowd - 1 month ago
how can you be so bullish on financials after 2008 financial crisis ? what's to prevent another situation
where contacts were not honored ? In the 70's financials made up 8% of the S&P today it's closer to 29%
with derivatives Wouldn't it make more sense to be long more electric utilities which have underperformed for a long time and shouldn't there be a reversion back to the mean? I've always thought that in order to outperform one has to be right on the "macro picture" first then drill down and buy the best companies or the ones that put the greatest amount of their sales dollars back into R & D.
When you compete on price it's a race to zero. Do you really think that the banks are actually marking their real estate to the market ? After Janet Yellen's comets today don't you think that she's telling the world that we can't stop the buying back treasuries and the taper will continue at 8o Billion plus a month for a long time. You can't win at poker when the rest of the world can see your cards.
Helicopter been left a mess. Janet Yellin has no choice but to continue to print, print, print
while the GLD and CEF continue to print more certificates that actual Gold held in reserve.
Does anyone even think of these things. When Paulson at Goldman holds up the U.S. for a 700 Billion dollar bailout while Blankefeld tells people he's doing God's work while GS is putting together baskets of overpriced mortgage backs and allowing the other side of GS to cherry pick which baskets their preferred clients are allowed to Short ?? How is GS allowed to get away with this deceptive behavior ?
What a mockery of markets. Who was the firm that allowed Greece to to deceive it's creditors with
GS to structure deceptive mortgage backed baskets that were truly weapons of mass destructions.
To be 19 % long financials you're trying to catch a falling knife ? Has that ever worked for you in the past ? Be different think for your self. I thought you were a smart guy. You're just following the herd.
Think outside the box and for yourself. Just because previous metrics tell you something is cheap don't mean it is.. Just like all the fools who took down the muni offering in Puerto Rico this past week.
We need to get people back to work and you should only be looking at things to invest in where there is pricing power. So to be so blunt but I'm surprised you're listening to the majority of talking heads.
Sincerely Yours
Michael D.



Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Hide