PRIMECAP Management

PRIMECAP Management

Last Update: 05-14-2015

Number of Stocks: 258
Number of New Stocks: 7

Total Value: $102,400 Mil
Q/Q Turnover: 3%

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

PRIMECAP Management Watch

  • PRIMECAP Sells Portions of Its Top Two Stakes

    Pasadena, California-based PRIMECAP Management (Trades, Portfolio) was founded in September 1983 as an independent investment management company. It evaluates securities based on their outlook over three to five years, longer if warranted. The Vanguard PRIMECAP Fund, one of the funds it manages, logged a return of 18.72% in 2014.


    PRIMECAP sold portions of its top two stakes – Biogen Inc (BIIB) and Amgen Inc (AMGN) – in the first quarter.

      


  • Primecap Management increases its stake in Yahoo!

    Primecap Management Company (Trades, Portfolio) was founded in September 1983 in Pasadena, California. It manages Vanguard Primecap Fund, Vanguard Capital Opportunity Fund, and Vanguard Primecap Core Fund.. Primecap was founded by Chairman and Chief Investment Officer Howard B. Schow, Vice Chairman Mitchell J. Milias, and President Theo A. Kololotrones.


    Primecap team evaluates securities based on their outlook over a three to five year time horizon, with the intention of holding them considerably longer if their fundamentals warrant it. They believe successful investment decisions rests in correctly appraising the relationship between the fundamental value of a company and the market price of its stock. A company may be valuable because of its free cash flow, its assets, or both; however, a company will be a superior investment only if it is purchased at the right price. Primecap only invests in their highest conviction ideas.

      


  • Primecap Management Increases Stake in CarMax

    Primecap Management Company (Trades, Portfolio) was founded in September 1983 in Pasadena, California. It manages Vanguard Primecap Fund, Vanguard Capital Opportunity Fund, and Vanguard Primecap Core Fund.. Primecap was founded by Chairman and Chief Investment Officer Howard B. Schow, Vice Chairman Mitchell J. Milias, and President Theo A. Kololotrones.


    Primecap's team evaluates securities based on their outlook over a three to five-year time horizon, with the intention of holding them considerably longer if their fundamentals warrant it. They believe successful investment decisions rests in correctly appraising the relationship between the fundamental value of a company and the market price of its stock. A company may be valuable because of its free cash flow, its assets, or both; however, a company will be a superior investment only if it is purchased at the right price. Primecap only invests in their highest conviction ideas.

      


  • Primecap Management Increases Position in Aecom

    Primecap Management Company (Trades, Portfolio) was founded in September 1983 in Pasadena, California. It manages Vanguard Primecap Fund, Vanguard Capital Opportunity Fund, and Vanguard Primecap Core Fund.. Primecap was founded by Chairman and Chief Investment Officer Howard B. Schow, Vice Chairman Mitchell J. Milias, and President Theo A. Kololotrones.


    Primecap team evaluates securities based on their outlook over a three to five year time horizon, with the intention of holding them considerably longer if their fundamentals warrant it. They believe successful investment decisions rests in correctly appraising the relationship between the fundamental value of a company and the market price of its stock. A company may be valuable because of its free cash flow, its assets, or both; however, a company will be a superior investment only if it is purchased at the right price. Primecap only invests in their highest conviction ideas.

      


  • John Griffin Acquires Stake in Mobileye

    Mobileye (MBLY), a technology company that is based in the Netherlands with a research and development center in Jerusalem, is something of an enigma for investors.


    Mobileye specializes in cutting-edge automotive technology. Its products are designed to help prevent auto collisions or lessen their severity when they can’t be avoided. The nature of the business means the products it chooses to promote tend to be big hits or big misses. Sometimes they pay off. Sometimes they don’t. The stock price fluctuates – it is up one quarter, down the next.

      


  • Growing and Undervalued: NeuStar Inc.

    From my watch list, today another growing and undervalued company. Let’s have a short view of NeuStar Inc. (NSR); that looks undervalued based on the Peter Lynch Price Value and the Discounted Cash Flow Model.


    NeuStar Inc. (NSR)

      


  • Gurus and Insiders Continue to Buy Energy Stocks

    With oil currently priced under $50 a barrel, gurus and insiders at eight energy companies are taking advantage of plunging stock prices to buy company shares, according to GuruFocus’ Double Buys page.


    Certain sectors within the energy industry can be safer to invest in, like companies that service oil wells, according to Chuck Royce (Trades, Portfolio) of Royce Funds.

      


  • Primecap Management's Annual Shareholder Letter 2014

    Dear Fellow Shareholders,


    For the fiscal year ended October 31, 2014, the PRIMECAP Odyssey Stock Fund, PRIMECAP Odyssey Growth Fund, and PRIMECAP Odyssey Aggressive Growth Fund produced total returns of +16.45%, +15.82%, and +17.71%, respectively. The PRIMECAP Odyssey Aggressive Growth Fund exceeded the +17.27% total return of the unmanaged S&P 500 Index, while the PRIMECAP Odyssey Stock Fund and the PRIMECAP Odyssey Growth Fund lagged the S&P 500 over the period.

      


  • David Einhorn's Most Weighted Low PE Stocks

    David Einhorn (Trades, Portfolio) is president of Greenlight Capital (a value-oriented investment advisor). Through August 2006, Einhorn had achieved annual returns of 29% since starting Greenlight in May 1996.


    Einhorn believes an investment approach emphasizing intrinsic value will achieve consistent absolute investment returns and safeguard capital regardless of market conditions. He is a noted activist investor, taking positions in companies, and then pushing management to implement changes.

      


  • Weekly Guru Bargains Highlights: PBR.A, S, E, NOV, EC

    According to GuruFocus updates, these stocks have declined the most since Gurus have bought.


    Petroleo Brasileiro SA Petrobras (PBR.A): Down 37% since Charles Brandes (Trades, Portfolio) bought in the quarter ended on 2014-12-31

      


  • Weekly 3-Year Low Highlights: NSR, ELRC, PLPC, SNTA

    According to GuruFocus list of 3-year lows, NeuStar Inc, Electro Rent Corp, Preformed Line Products Co, and Synta Pharmaceuticals Inc. have all reached their 3-year lows.


    NeuStar Inc (NSR) Reached $24.61

      


  • PRIMECAP Management's New Positions

    PRIMECAP Management (Trades, Portfolio), founded by Chairman and Chief Investment Officer Howard B. Schow, recently added new positions to its portfolio of 260 stocks, valued at ~$98.7 billion with a quarter over quarter turnover rate of 3% during the fourth quarter of 2014.


    30.7% of the firm's portfolio consists of stocks in the heathcare sector and 16.4% are in the technology sector.

      


  • 5-year lows: Rex Energy Corp, Liquidity Service Inc, Petroquest Energy Inc, MVC Capital Inc.

    According to GuruFocus' list of 5-year lows, these Guru stocks have reached their 5-year lows: Rex Energy Corp, Liquidity Service Inc, Petroquest Energy Inc, MVC Capital Inc.


    Rex Energy Corp (REXX) Reached $4.73

      


  • Weekly CEO Buys Highlight: SONS, OPK, AKS, ARAY, ENH

    According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below:


    Sonus Networks Inc (SONS): CEO and President Raymond P Dolan Bought 1,000,000 Shares

      


  • Weekly CEO Buys Highlight: JMP, SONS, OPK, ARAY, CBNJ

    According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below:


    JMP Group Inc (JMP): CEO, 10% Owner Joseph A Jolson Bought 569,504 Shares

      


  • Altera Benefits from Favorable Industry Trends

    In this article, let's take a look at Altera Corp. (ALTR), a $10.41 billion market cap company, which is one of the largest makers of high-performance, high-density programmable logic devices (PLDs) and associated computer-aided engineering logic development tools.


    Industry overview

      


  • Guru-Held Stocks Near Historical Low P/S

    Buying stocks based on historical low price-to-sales (P/S) ratios has been shown to be an effective investment strategy. At GuruFocus, our “Top 25 Historical Low P/S Ratio Companies” portfolio has outperformed the S&P 500 by 23.38 percent since its inception in 2010. Our portfolio is rebalanced once a year and can be viewed at GuruFocus.com. Below is the latest list of stocks that are trading near historical low P/S ratios and are widely held by the investing gurus we follow:


    Qualcomm Inc (QCOM) is trading at a low P/S ratio of 4.80, near its 10-year low of 4.48. The company continues to lead the development and commercialization of a digital communication technology called CDMA, and owns significant intellectual property applicable to products that implement any version of CDMA including patents, patent applications and trade secrets. Its technology is most commonly known as being used in Sprint, Verizon, and U.S Cellular phones. The 10-year median P/S ratio for Qualcomm is 7.06. The stock would be priced at $107.67 if trading at a similar ratio today. The stock is underpriced since revenue per share for the past 12 months has grown 15.2 percent, similar to its 10-year annualized rate of 17.6 percent. Margins have also been steady. The stock is held by 29 gurus we follow with PRIMECAP Management (Trades, Portfolio) holding the largest position of 18.8 million shares, representing 1.12 percent of the shares outstanding.

      


  • Widely Held Guru Stocks Trading In Europe

    As pointed out by Warren Buffett (Trades, Portfolio), the percentage of total market cap relative to the U.S. GNP is “probably the best single measure of where valuations stand at any given moment.” GuruFocus has taken this comment a step further and applied it to the global markets. Twenty different global markets were analyzed, including the U.S. More information the valuations can be found at the following link: Global Market Valuations. An interesting aspect of the global valuations is that the U.S. markets have the lowest projected annual returns over the next eight years, with an implied annual return of 0.9 percent, including dividends.


    With this information, I scanned the global markets in the search for better value. Using the investing gurus for guidance, I used the GuruFocus All-In-One Screener to find the most widely held stocks by the gurus on the global exchanges. Access to data from stocks trading on the global exchanges is available through a Global Membership at GuruFocus. A 7-day free trial is available for new and existing subscribers to GuruFocus. While screening for international stocks, I searched for stocks on both the European and Asian exchanges. A separate article with the widely Asian stocks will be available soon. Here are the results for the most widely held stocks by the gurus trading on the European exchanges:

      


  • Guru Stocks at 52-Week Lows: PFE, GSK, VOD, EC, MFG

    According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows.


    Pfizer Inc (PFE) Reached the 52-Week Low of $28.64

      


  • PRIMECAP Odyssey Funds Letter to Shareholders from 2014 Semiannual Report

    Dear Fellow Shareholders,


    For the six months ended April 30, 2014, the PRIMECAP Odyssey Stock Fund, PRIMECAP Odyssey Growth Fund, and PRIMECAP Odyssey Aggressive Growth Fund produced total returns of +7.47%, +4.79%, and +4.59%, respectively, in each case below the +8.36% return of the unmanaged S&P 500 Index.

      


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