Jeff Auxier

Jeff Auxier

Last Update: 08-20-2015

Number of Stocks: 144
Number of New Stocks: 12

Total Value: $479 Mil
Q/Q Turnover: 51%

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

Jeff Auxier Watch

  • Pfizer Nears Completion of Hospira Acquisition

    On Aug. 24 Pfizer, Inc. (NYSE:PFE) received clearance from the Federal Trade Commission for its acquisition of Hospira, Inc. (NYSE:HSP). The acquisition process has been ongoing since Feb. 5 when Pfizer first announced it would be acquiring Hospira. Given the FTC clearance the acquisition will likely be completed in September.


    The Hospira acquisition will add low cost generic versions of biotech drugs to Pfizer’s product offerings, which are currently oriented around branded products. The Hospira business overall is primarily focused on generic injectable drug product offerings. The business is expected to be immediately accretive for Pfizer, bringing approximately $1.2 billion in quarterly revenue to the Pfizer business.

      


  • GuruFocus Interview: Jeff Auxier of Auxier Asset Management

    At 11 years old, Jeff Auxier (Trades, Portfolio) began mowing the lawn of Georgia Pacific’s then-CEO Bob Pamplin Sr., who led the company to be one of the top-performing NYSE stocks of the time. After graduating college with his degree in finance and starting his career in 1982, Auxier decided to cold call Warren Buffett (Trades, Portfolio) — and got an answer.


    Whether by luck or simply taking a chance, Auxier was influenced by value investors from an early age, and this is reflected in his firm, Auxier Asset Management. The firm is based far from Wall Street on the opposite coast in Portland, Oregon, where Auxier lives on a 108-acre hazelnut farm.

      


  • Jeff Auxier's Summer Market Commentary

    The stock market sputtered and stalled in the first half of 2015. Standard & Poor’s 500 index of large U.S. companies rose a scant 0.28% in the second quarter and 1.23% over the six months ended June 30. Auxier Focus Fund trailed the index, declining


    0.97% for the quarter and 0.29% for the first half of 2015. One reason is that the Fund is only 70% invested in American companies (the S&P 500 is 100%). The remainder: 17% in foreign stocks, 6% in cash and 7% in so-called work-outs such as corporate spinoffs. What’s more, our lower-risk allocation has handily beaten the benchmark over time. Since inception in 1999, with an average 75%-95% equity exposure, a $10,000 investment in the Fund grew to $30,760 as of June 30, vs. $19,880 for the S&P 500.

      


  • The Stocks Jeff Auxier Keeps Buying

    Jeff Auxier (Trades, Portfolio) of Auxier Asset Management currently owns 133 positions in his $237 million portfolio. Auxier has a low quarter over quarter turnover rate of 1%. Over the past quarters, Auxier has continued to purchase shares in three positions, which include Aetna Inc (NYSE:AET), Royal Dutch Shell PLC (NYSE:RDS.A) and Unum Group (NYSE:UNM).


    Aetna Inc (NYSE:AET)

      


  • Ask Your Investment Questions to Jeff Auxier of Auxier Asset Management

    Jeff Auxier (Trades, Portfolio) of Auxier Asset Management has agreed to participate in an exclusive Q&A with GuruFocus. Please submit your questions below in the comment box and we will pick the top 20 to ask the investor.


    Auxier was first introduced to the world of investing when he mowed Robert Pamplin's lawn. The Georgia Pacific CEO taught Auxier about remaining ethical. Pamplin's ideas about how a business should be transparent and shareholders should come first were later adopted and applied to Auxier's firm.

      


  • Jeff Auxier Reduces More Than 100 Stakes in First Quarter

    As manager of Auxier Focus Fund, Jeff Auxier (Trades, Portfolio) racked up an impressive record in the first decade of the 21st century, gaining more than 75% in value compared to the S&P500’s 10% loss during the same period.


    In the first quarter of 2015, Auxier’s emphasis was on selling holdings rather than buying them. Auxier reduced more than 100 of his stakes in the first quarter, including each of his 20 most valuable stakes.

      


  • Jeff Auxier Adds DISCA to His Portfolio During 1Q2015

    Jeff Auxier (Trades, Portfolio) of Ausier Asset Management added Discovery Communications Inc (NASDAQ:DISCA) to his portfolio, according to GuruFocus Real Time Picks.


    Auxier purchased 59,149 shares of DISCA at an average price of $31.37 a share.

      


  • Jeff Auxier Spring 2015 Market Commentary

    In first quarter 2015, the economy was subdued by record low temperatures in the Northeast, a West Coast port strike, a rapidly appreciating U.S. dollar (undermining exports), and a dramatic cutback in energy capital spending. Auxier Focus Fund returned 0.68% for the first quarter 2015. The equity portion gained over 0.92%. By comparison, Standard & Poor’s 500 stock index returned 0.95%, while the Dow Jones industrials added an anemic 0.33%. At quarter end, the Fund was comprised of 9% cash and “work-outs,” 76% U.S. stocks and the balance in foreign equities. An example of a "work-out" is Hospira, a healthcare company we purchased at a distressed price of $28.21 in December 2011. Drugmaker Pfizer has offered $90 cash to acquire Hospira in the second half of 2015, resulting in its shares recently fetching a discounted $87. The implicit $3 per share gain to closing represents over a 4% annual return, so we use that as a cash substitute. As stock market levels rise we tend to have more of these "work-outs" and similar event-driven investments that are "market agnostic," meaning they are less dependent on the overall supply and demand in the markets for their returns.

      


  • Some Reasons to Reduce Holdings in Avon

    In this article, let's take a look at Avon Products Inc. (NYSE:AVP), a $3.43 billion market cap company, which is the world's leading direct marketer of cosmetics, toiletries, fashion jewelry and fragrances, with about 6 million sales representatives worldwide.


    Largest Shareholders

      


  • Jeff Auxier: Year End 2014 Commentary and 2015 Outlook

    As of December 31, 2014, Auxier Focus Fund was comprised of 77.73% U.S. equities, 13.87% foreign stocks, 0.2% fixed income, and 8.2% cash. The Fund returned 4.40% in the fourth quarter of 2014. The Fund’s stock portfolio had a corresponding 5.17% gain, versus 4.93% for Standard & Poor’s 500 Stock Index. For the year, the Fund returned 7.34% (stocks up 10%), versus the S&P 500’s 13.69%. By comparison, the Dow Jones Industrial Average rose 5.2% for the quarter and 10% for the year. Foreign stocks in developed countries generally declined 4.5% in 2014 (MSCI EAFE Index). The Thomson Reuters CRB Index showed commodities continued to correct, losing over 16%.

      


  • Auxier Asset Management - 'Hazelnuts, Cows… and Stocks'

    As of 9/30/14 the Stock Portion of the Investor Class, AUXFX, is Up 360% Since Inception, Growth of $10,000 to $29,500 Since Inception;


    Auxier Continues Eating His Own Cooking and Preaching the Power of Compounding

      


  • Jeff Auxier Buys Berkshire Hathaway in Third Quarter

    Jeff Auxier (Trades, Portfolio) founded Auxier Asset Management and has managed the Auxier Focus Fund since its inception in 1999. Since inception, the fund has had returns 114.67 percentage points higher than the S&P 500.


    In an interview with GuruFocus in 2012, Auxier told a story of when he cold-called Warren Buffett (Trades, Portfolio) in 1982, and actually received career advice from the most successful investor himself.

      


  • Jeff Auxier Fall 2014 Market Commentary

    We have been anticipating a market correction to wring out mounting excesses of margin debt, overpriced initial public offerings and widespread security issuance in the energy sector. Indeed, during the third quarter, many of the 1500 companies we follow each year began to correct. Smaller stocks as measured by the Russell 2000 index declined 7.36%. Larger companies fared better with the Standard and Poor’s 500-stock index up 1.13%. Auxier Focus Fund ended the quarter down 1.35% with our foreign stock holdings a drag in the face of a strong U.S. dollar. Generally, severe and prolonged market declines are preceded by periods of rising interest rates and/or recession. So far fundamentals and reported earnings don’t point to either in the near term.


    Welcome Return of Market Volatility

      


  • Acquisition Strategy Will Benefit ConAgra Foods

    In this article, let's take a look at ConAgra Foods, Inc. (NYSE:CAG), a $14.41 billion market cap company that is one of the larger U.S. food companies, with a number of widely known brands.


    Acquisition and divestiture strategy

      


  • Some Drivers of the World's Largest Automaker

    In this article, let's take a look at Toyota Motor Corporation (NYSE:TM), a $182.43 billion market cap company that is one of the world's largest automobile producers.


    Quality and more

      


  • Anadarko is a Strong Player with an Interesting Mix Composition

    In this article, let's take a look at Anadarko Petroleum Corporation (NYSE:APC), a $56.08 billion market cap company, one of the largest independent exploration and production companies in the world.


    International operations

      


  • Toyota Stock Drops Following Announcement of Recalls

    Japanese automaker Toyota (NYSE:TM) – rated the world’s largest automobile manufacturer (by production) in 2012 by the Paris-based International Organization of Motor Vehicle Manufacturers (OICA) – issued three recalls last week, affecting more than 1.7 million vehicles worldwide.


    The largest of the recalls, which primarily affects vehicles sold in Japan, is intended to fix a problem with the brake systems in three models. The second-largest recall addresses an issue with the fuel delivery pipes that could cause fires. The smallest of the recalls affects vehicles that could have fuel leaks.

      


  • A High Dividend Yield, But Other Sell Recommendation

    In a recent article from MarketWatch titled “10 S&P 1500 dividend stocks with yields up to 9.14%,” it was analyzed the highest-yielding companies that have declared dividends for at least the past five full calendar years and not discontinue them in the last four years.


    So, in this article, let´s consider one of that list – AT&T, Inc. (NYSE:T) – and we will take a look at a model which is applicable to stable, mature, dividend-paying firms and try to find the intrinsic value of the stock. Although the model has a number of characteristics that make it useful and appropriate for many applications, it is by no means the be-all and end-all for valuation. The purpose is to force investors to evaluate different assumptions about growth and future prospects.

      


  • Should You Stay Away From Avon?

    In this article, let's take a look at Avon Products Inc. (NYSE:AVP), a $5.47 billion market cap company, which is the world's leading direct marketer of cosmetics, toiletries, fashion jewelry and fragrances, with about 6 million sales representatives worldwide.


    New Management

      


  • I Feel Bullish on Costco Due to its Business Model

    In this article, let's take a look at Costco Wholesale Corporation (NASDAQ:COST), a $55.22 billion market cap company, which operates about 650 membership warehouses in the U.S., and other countries such as Puerto Rico, Canada, the U.K., Taiwan, Japan, Korea, Mexico and Australia.


    Costs reduction

      


  • General Electric is Overvalued Based on DDM Analysis

    In this article, let´s consider General Electric Company (NYSE:GE), a $265 billion market cap, which has a trailing P/E ratio that indicates that the stock is relatively undervalued (PE 20.7x vs Industry Median 23.2x).


    So in this article, let's take a look at a model that is applicable to stable, mature, dividend-paying firms and try to find the intrinsic value of the stock. Although the model has a number of characteristics that make it useful and appropriate for many applications, it is by no means the be-all and end-all for valuation. The purpose is to force investors to evaluate different assumptions about growth and future prospects.

      


  • Good Outlook for ConAgra Foods

    In this article, let's take a look at ConAgra Foods, Inc. (NYSE:CAG), a $13.47 billion market cap company, which is one of the larger U.S. food companies with a number of widely known brands.


    Main risk

      


  • General Motors: A High-Yielding Stock

    In this article, let's take a look at General Motors Company (NYSE:GM), a $54.61 billion market cap company, which is the world's second-largest producer of cars and trucks.


    A market leader

      


  • Jeff Auxier Second Quarter Shareholder Letter

    Summer 2014 Market Commentary


    Auxier Focus Fund returned 3.96% for the second quarter. The Fund’s stockholdings gained 5.46%, outpacing the corresponding returns of 5.23% for Standard and Poor’s 500 Stock Index and 2.83% for the Dow Jones Industrial Average. Foreign stocks comprised about 18% of the Fund portfolio. Note that since inception in 1999, Auxier Focus’ stock exposure has averaged 72%, a much lower risk stance than the S&P 500 and Dow Jones Industrial Average (both 100% invested in stocks). Yet we nonetheless outperformed both indices for the period. A hypothetical $10,000 investment in the Fund on July 9, 1999 through June 30, 2014 would have grown to $29,954. That’s 61% more than the S&P 500’s $18,507 and 39% better than the Dow’s $21,484 for a similar investment. 

      


  • Auxier Asset Management's Auxier Report - First Quarter 2014


    Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. As stated in the current prospectus, the Fund’s Investor Class Share’s annual operating expense ratio (gross) is 1.28%. The Fund’s adviser has contractually agreed to waive a portion of its fee and/or reimburse Fund expenses to limit total annual operating expenses at 1.25%, which is in effect until October 31, 2015. Other share classes may vary. The Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. For the most recent month-end performance, please call (877)328-9437 or visit the Advisor’s website at www.auxierasset.com. The recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future.

      


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