RS Investment Management

RS Investment Management

Last Update: 08-18-2015

Number of Stocks: 352
Number of New Stocks: 55

Total Value: $11,671 Mil
Q/Q Turnover: 16%

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

RS Investment Management Watch

  • GMT Capital Corp Starts to Invest in Leisure Industry

    At the end of the second quarter of 2015, the hedge fund GMT Capital Corp reported a total value of its portfolio of $3,826,630,000 with a decrease of 7.36% since the previous quarter.


    During the Q2 2015, the hedge fund bought 26 new stocks and increased 21 stakes. The following are the most heavily weighted buys of U.S. companies the hedge fund has done during that quarter, and two of them are from the Global Leisure Industry.

      


  • Top insider buys of the week: Navistar and Fibrocell

    The All-In-One Guru Screener can be used to find insider buys over the last week by clicking on the Insiders tab and changing the settings for All Insider Buying from “$500,000+” and Duration to "July 2015."


    According to the above filters, the following are the recent buys from company insiders over the past week:

      


  • RS Investment Trades In Its 10 Most Valuable Stakes

    RS Investment Management (Trades, Portfolio), a San Francisco-based investment firm, provides services for pension and profit sharing plans, pooled investment vehicles, corporations and banks. It invests in public equity and fixed income markets across the world and has a pretty good track record. Although it was in negative territory in 2014, it returned 42.15% the year before and 19.39% the year before that.


    In the first quarter of 2015, it added to or reduced each of its 10 most valuable stakes.

      


  • RS Investment Management increases its position in Navistar

    RS Investment Management (Trades, Portfolio) is a privately held San Francisco-based investment firm providing services for pension and profit-sharing plans, pooled investment vehicles, corporations and banks. Matthew H. Scanlon, a graduate of Northwestern’s Kellog School of Management, is the firm’s CEO. RS Investment’s total assets are almost $27 billion.


    RS Investment Management invests in public equity and fixed income markets across the world, as well as both growth and value stocks. Last quarter, RS Investment Management increased its stake in Navistar (NYSE:NAV) buying 146,247 shares of the company. As of March 31, 2015, he was holding 2,957,664 shares of the company. The following chart shows his holding history in the company.

      


  • RS Investment Management Buys Knight Transportation in Q1

    RS Investment Management (Trades, Portfolio) is a privately held San Francisco-based investment firm providing services for pension and profit sharing plans, pooled investment vehicles, corporations, and banks. Matthew H. Scanlon, a graduate of Northwestern’s Kellog School of Management, is the firm’s CEO. RS Investment’s total assets are almost $27 billion.


    RS Investment Management invests in public equity and fixed income markets across the world, as well as both growth and value stocks. Last quarter, RS Investment Management initiated a position in Knight Transportation (NYSE:KNX) by buying 760,310 shares of the company. Here’s a look at the company in detail.

      


  • Lee Ainslie's Undervalued Stocks With Growing Earnings

    Lee Ainslie (Trades, Portfolio) is founder and CEO of Dallas-based Maverick Capital. He started Maverick Capital back in 1993 with $38 million. During the last quarter he bought 90 new stocks reaching a total of 119 stock and a total value of $6,214 Mil.


    According to the overall rank of GuruFocus All-In-One Screeners, Allstate Corp (ALL), AmTrust Financial Services Inc (AFSI) and Alleghany Corp (Y) are the most undervalued companies with the most growing EPS during the last 5 years

      


  • RS Investment Management Trims Position in 2 Stocks

    RS Investment Management (Trades, Portfolio) trimmed its positions in two holdings — eHealth (NASDAQ:EHTH) and FTD Companies (NASDAQ:FTD) — on April 9, according to GuruFocus Real Time Picks.


    The firm was founded in 1986 and is headquartered in San Francisco. As of March 31, the firm had $20 billion in assets under management.

      


  • Oracle Boosts Quarterly Dividends

    In this article, let's take a look at Oracle Corporation (NYSE:ORCL), a $188.26 billion market cap company that develops, manufactures, markets, hosts and supports database and middleware software, application software, cloud infrastructure, hardware systems, and related services worldwide.


    Dividend hike

      


  • Weekly Guru Bargains Highlights: PKX, CM, PXD, BNS, BBL

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


    POSCO (NYSE:PKX): Down 24% since RS Investment Management (Trades, Portfolio) bought in the quarter ended on 2014-09-30

      


  • Tupperware: A Different Bet on Emerging Markets

    For many of us, the name Tupperware is as American as apple pie on the 4th of July. Yet, this iconic brand now does far more business outside of the U.S.A. than within it. Last year, 2013, it derived 90% of its revenue from international markets, and taking the analysis one step deeper, received 65% of revenue from emerging markets.


    Now officially named Tupperware Brands Corporation (NYSE:TUP), this iconic company continues to sell directly to consumers at the home and office parties that helped make it a household name. Today, the company hosts another party roughly every second and a half, and continues the tradition of independent, commissioned hosts, or sales persons.

      


  • Recent Real-Time Picks From The Investing Gurus

    Here are some of the most recent Real-Time Picks from the investing gurus:


    TW Telecom Inc (TWTC)

      


  • John Rogers and RS Investments Top Guru Real Time Trades of the Week

    The following information is a highlight of the real-time guru activity we saw this week. To view more information on these gurus, check out their guru portfolios. The “Real Time Picks” reports the stock purchases and sells that Gurus have made within the prior two weeks. If a Guru makes a purchase or sell of a company in which they own a greater-than 5% stake, SEC regulations require them to report their transaction within two days. This week we saw notable increases and buys in Real Time activity from John Rogers (Trades, Portfolio) and RS Investment Management (Trades, Portfolio).

    John Rogers (Trades, Portfolio)  


  • RS Investment Management’s Exploration & Production Pick

    Growing global economic recovery continues to place oil and gas explorers and explorers under pressure. Although recovery across the globe is unequal, energy demand rises steadily. While the most dramatic change in indicators has been recorder for North America, Europe struggles to find its north. Meanwhile, the Chinese economy returns to normal growth indicators. In addition to the pressure from developed economies over energy supplies, the Middle East and Africa fall prey to political uncertainty, scaring away foreign investors. The so called Arab Spring, and continued attacks to assets located in Africa, left many energy producing countries out of the business momentarily. Hence, others regions became more attractive as the proper equipment became available. For example, shale reserves in the US or Argentina. And, even the Chinese government took interest in the exploration of unconventional reserves. One company with important presence in North America is Cabot Oil and Gas (NYSE:COG).


    Growing Reserves and Performance

      


  • Novartis' 'Cliffy' Business

    Novartis AG (NYSE:NVS) is a company committed to providing healthcare solutions to improve the health and well-being of patients and societies worldwide through the research, development, manufacturing and marketing of healthcare products and pharmaceuticals. The firm generally sells its prescription drugs, mainly to wholesale and retail drug distributors, hospitals, clinics, government agencies and managed healthcare providers. Its portfolio includes innovative medicines, preventive vaccines and diagnostic tools, generic pharmaceuticals and consumer health products. Last quarter was a rough one for this company. Its reported net income was $2.1 billion, and fell short from the $2.4 billion estimate. There's some worry that, as generic competition continues to increase, the company's growth does otherwise. Is there any chance it doesn't?


      


  • Groups of Gurus Trade Ten-Year Low P/B Stocks - CLH, IMO and TEVA

    According to the GuruFocus Value Screen that shows value strategies of stocks traded at historical low P/B ratios, Teva Pharmaceutical Industries Ltd. (NYSE:TEVA), Imperial Oil Ltd (IMO) and Clean Harbors Inc. (NYSE:CLH) are held by numerous gurus and trading near their 10-year low. Here are the company updates and trading highlights as of the third quarter of 2013.


    Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

      


  • NQ Mobile – The Fog Factor

    NQ Mobile is a China-based provider of mobile Internet services that markets itself with concern for user protection. But what about shareholder protection? According to Forbes, NQ is in trouble. When research firm Muddy Waters blew the whistle on its largest client back in October, calling the company a “fraud,” NQ Mobile’s market cap fell almost instantly by $500 million. The stock price also plummeted from $24.62 on Oct. 21, 2013, to $8.80 on Oct. 28. NQ Mobile denies allegations, according to Forbes and Bloomberg.

    Three times in the last week Businesswire reported on NQ Mobile’s legal issues regarding a class action lawsuit filed on behalf of purchasers of NQ Mobile Inc. securities between May 5, 2011 and October 24, 2013. According to Businesswire press releases for Glancy Binkow & Goldberg, Brower Piven and the Law Offices of Howard G. Smith, NQ Mobile is accused of overstating and exaggerating its financial performance based on the October 24, 2013 Muddy Waters Research Group report that also alleged the following:  


  • Weekly Guru Bargains Highlights: ABV, BBD, ITUB, 7775, HDB

    According to GuruFocus updates , these stocks have declined the most since Gurus have bought.
    [b]
    Companhia de Bebidas das Americas Ambev (NYSE:ABV): Down 21% Since RS Investment Management Bought In the Quarter Ended on 2013-03-31  


  • RS Investment Management Sells in Second Quarter

    The privately owned investment manager, RS Investment Management, is led by CEO Matthew H. Scanlan and based in San Francisco. The company’s portfolio currently lists 310 stocks, with 56 new stocks, a total value of $13.78 billion, and a quarter over quarter turnover of 17%. After second quarter trading, the portfolio’s top four sectors are weighted as: energy at 20.9%, basic materials at 16.8% and financial services and industrials both at 13.2%.

    These top reductions and sells made the highest impact on the RS Investment Management portfolio, as of the second quarter of 2013.  


  • RS Investment Management Comments on Crown Holdings

    Crown Holdings (CCK) manufactures steel and aluminum cans for the food and beverage industry. We were first attracted to Crown as an investment because of the stable end-demand for its products given that, even in recessions, purchases of canned goods do not materially change. In addition, the can industry has become increasingly consolidated in the more developed markets, resulting in disciplined behavior around both pricing and volumes. The result has been steady returns on capital and a business that produces a consistent and healthy stream of free cash flow.

    Crown historically has returned its excess cash flow to shareholders through share repurchases. However, growth in emerging markets, particularly Asia and South America, provided Crown with the opportunity to recently deploy some of its excess capital into new projects with high returns. As such, Crown provides us with an opportunity to own a business with both very attractive underlying characteristics and additional growth opportunities. While the pace of growth has slowed and there are fewer potentially attractive new capital projects since we first purchased the stock, the company now has more free cash flow to allocate to share repurchases.  


  • RS Investment Management Comments on Life Technologies

    Life Technologies (LIFE) is a global life sciences company that manufactures and sells instruments, consumables, and services used in life science research as well as in commercial applications. The Company sells a broad range of products including cell cultures, sample preparations, DNA analysis and forensic products. Life has more than 75,000 customers in 160 countries and provides integrated and complete solutions that address researchers' workflow. End markets for Life's products are academic/government organizations (~45% of revenue), pharmaceuticals and biotech (~30%), and applied markets (~25%), which include forensics, diagnostics, and water and food safety. Importantly, 80% of Life's revenue is recurring (i.e., consumables and services) with the other 20% related to instrument sales.

    We saw a compelling entry point to purchase the stock during the summer of 2011 as investors became increasingly concerned about potential National Institutes of Health ("NIH") funding cuts. In our opinion, these concerns were overstated given that a potential 8% cut to NIH funding would only translate to about a 1% headwind to Life's overall business, given that NIH funding only accounted for ~15% of Life's revenue. Importantly, NIH funding has doubled over the past 12 years to $30 billion and has historically received broad bipartisan support. Moreover, we felt that a reasonable cut to NIH funding would be more than offset by the increasing growth prospects from the emerging markets. At the time of our investment, emerging markets made up just 10% of Life's revenue but were growing at an annual rate of 25%. China alone was a $180 million revenue business growing at 25%, partially in response to the Chinese government's announcement that it was determined to invest $125 billion in health care and science over the coming years. Other growth opportunities that we felt were under-appreciated by the Street included sequencing product launches that exceeded expectations as well as applied markets in bio-production and forensics.  


  • RS Value Fund First Quarter 2013 Mutual Fund Commentary

    Philosophy and Process

    We believe that company-specific value creation is frequently mispriced in the public markets. As a result, the RS Value Team employs an investment process that is driven by fundamental business analysis. Specifically, we are interested in understanding how companies create value, which by definition means dissecting businesses into their component parts to gain insights into how and where capital is being allocated, and the cash flows and returns associated with these capital decisions. When we have identified situations where there is a visible path toward future value creation, and a management team is in place that we believe is capable of executing the business plan, a company qualifies for our Recommended List. However, as value investors, we know that risk is not defined as share price volatility, but rather the permanent impairment of our clients' capital. As a result, Recommended List names only come into the portfolio when a) we can clearly quantify a downside or safety net value, b) the market provides us with an opportunity to purchase an interest in the company close to or, preferably, below that safety net price, and c) the investment augments the existing positions in the portfolio from both a risk and return perspective. While we expect, over time, that excess returns will be driven by superior stock selection, it is critical that we construct "all weather" portfolios—concentrated around our very best investment opportunities, but broadly diversified across the economy. We acknowledge that over short periods of time we may underperform our benchmark, but believe that our team structure, philosophy, and process will continue to provide us with the opportunity to generate excess risk-adjusted returns over a reasonable investment horizon.  


  • RS Investments Comments on AAP

    From RS Investments Value Fund's second-quarter commentary:

    Advance Auto Parts (NYSE:AAP) is the second largest auto parts retailer in the U.S. operating over 3,600 stores in 39 states. The company sells primarily non-discretionary automotive parts such as car batteries, brake pads, spark plugs, and mufflers to both do-it-yourself customers as well as commercial garages via its parts-delivery truck service. Our investment in Advanced Auto Parts was predicated on the following thesis: (1) solid industry fundamentals with acyclical demand drivers, defensible competitive positioning, and reasonable reinvestments opportunities; (2) a companyspecific opportunity to meaningfully improve the Company's financial performance as measured by sales productivity, operating margins, asset turns, and overall Return on Invested Capital (ROIC) relative to its two primary competitors (AutoZone and O'Reilly); and (3) a new leadership team with a solid business plan for narrowing this performance gap.  


  • RS Investments Comments on Willis Group Holdings

    From RS Investments Value Fund's second-quarter commentary:

    Willis Group Holdings (NYSE:WSH) is the world's third largest insurance broker, in an industry where 78% of the market share is held by the top six players. The company operates as an intermediary in placing both insurance and reinsurance coverage. Approximately 70% of company revenues are generated through commissions and over 93% is recurring. Willis Group's is the world's largest reinsurance broker and more than half of its cash flows are generated outside the US. The company holds minority interests in Gras Savoye (31%), a French brokerage firm, and Al-Futtain (49%), a Dubai brokerage firm. CEO Joe Plumeri was the primary architect responsible for transforming the company after it was acquired by KKR Holdings in the late 1990s.  


  • RS Investments Value Fund Second-Quarter Commentary

    Philosophy and Process: We believe that company-specific value creation is often mispriced in the public equity markets. As such, the RS Value Team employs an investment process that is largely predicated on business analysis, with the assumption that stock prices will track economic value creation over time. We are, therefore, interested in understanding how companies create value, which by definition means dissecting businesses into their component parts to gain insights into how and where capital is being allocated, and the cash flows and returns associated with these capital decisions. When we have identified situations where there is a visible path towards future value creation, and a management team is in place that we believe is capable of executing the business plan, a company qualifies for our "farm team." However, as value investors, we know that risk is not defined as share price volatility, but rather the permanent impairment of capital. As a result, farm team names only come into the portfolio when we can: a) clearly quantify a downside or safety net value, and b) the market provides us with an opportunity to purchase an interest in the company close to or, preferably, below that safety net price. We acknowledge that over short periods of time we may underperform a benchmark, but believe that our team structure, philosophy, and process will continue to provide us with the opportunity to generate solid risk-adjusted returns over a reasonable investment horizon.

    Returns and Attribution Detail   


  • RS Investments Second-Quarter Commentary

    Philosophy and Process: We believe that company-specific value creation is often mispriced in the public equity markets. As such, the RS Value Team employs an investment process that is largely predicated on business analysis, with the assumption that stock prices will track economic value creation over time. We are, therefore, interested in understanding how companies create value, which by definition means dissecting businesses into their component parts to gain insights into how and where capital is being allocated, and the cash flows and returns associated with these capital decisions. When we have identified situations where there is a visible path towards future value creation, and a management team is in place that we believe is capable of executing the business plan, a company qualifies for our "farm team." However, as value investors, we know that risk is not defined as share price volatility, but rather the permanent impairment of capital. As a result, farm team names only come into the portfolio when we can: a) clearly quantify a downside or safety net value, and b) the market provides us with an opportunity to purchase an interest in the company close to or, preferably, below that safety net price. We acknowledge that over short periods of time we may underperform a benchmark, but believe that our team structure, philosophy, and process will continue to provide us with the opportunity to generate solid risk-adjusted returns over a reasonable investment horizon.

    Returns and Attribution Detail   


  • RS Investments' Value Fund First Quarter 2012 Mutual Fund Commentary

    RS Investment Management Co. LLC is a privately owned investment manager handling separate client-focused equity and fixed income portfolios and mutual funds for its clients. This is its first-quarter commentary from its Value Funds:

    RS Value Fund  


  • Low PE Stocks from RS Investment Management

    RS Investment Management Co. LLC is a privately owned investment manager handling separate client-focused equity and fixed income portfolios and mutual funds for its clients.

    Some of the firm’s operations deal with pension and profit sharing plans, investment companies, pooled investment vehicles, endowments, foundations, high net worth individuals, corporations, and banks. The firm invests in public equity and fixed income markets across the globe. It invests in growth and value stocks for small-cap, mid-cap and large-cap companies. To create its portfolio, the firm carries out fundamental analysis. It conducts in-house research.  


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