Ruane Cunniff

Ruane Cunniff

Last Update: 2014-08-14

Number of Stocks: 150
Number of New Stocks: 11

Total Value: $18,749 Mil
Q/Q Turnover: 2%

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

Ruane Cunniff Watch

  • Diageo: Why It’s the Perfect Time to Invest

    What do Johnnie Walker scotch, Smirnoff Vodka, Bailey’s Irish Cream and Crown Royal Canadian Whiskey have in common? They’re all No. 1 brands in their respective categories, and they all belong to Diageo Plc ADR (DEO). As the world’s leading producer of branded premium spirits, wine and beer (Guinness Stout), this company has built an $80 billion market capital empire leading the alcoholic beverage industry. In addition to the aforementioned brands, this firm also owns 34% of the premium champagne and cognac maker Moet Hennessy. Since investment gurus Ruane Cunniff (Trades, Portfolio) and Steven Cohen (Trades, Portfolio) bought this company’s shares last quarter, I decided to take a look at its profitable business model.


    A Well-Rounded Business Model

      


  • Gurus Floored on Mohawk - Ruane Cunniff Reduces MHK

    In the third quarter of 2013, Ruane, Cunniff & Goldfarb Inc. reduced its Mohawk Industries Inc. (MHK) position by 18.98%, with current shares remaining at over 3 million or 4.25% of shares outstanding. Because four gurus sold out their MHK in the second quarter and four increased, here’s a company update to sort out why the billionaire investors are so divided on this well-known flooring company.

    Guru: Ruane, Cunniff & Goldfarb Inc.  


  • Sell-out Update from Ruane, Cunniff & Goldfarb

    Managed by Ruane, Cunniff & Goldfarb Inc., the Sequoia Fund's investment objective is long-term capital growth. To that end, the fund focuses on undervalued common stocks that have growth potential. The recently updated portfolio of Ruane, Cunniff & Goldfarb Inc. lists 143 stocks, five of them new, with a total value of $15.18 billion and a quarter-over-quarter turnover of 1%. The portfolio’s top sectors are weighted as healthcare at 24.8%, consumer cyclical at 23.4% and financial services at 21.5%.

    According to GuruFocus research, Ruane & Cunniff & Goldfarb sold out holdings in four companies in the first quarter of 2013. Here are the details of the sell-out trades, as of March 31, 2013.  


  • Sequoia Fund - Ruane, Cunniff & Goldfarb Investor Day St. Regis Hotel, May 18, 2012, New York City

    Dear Shareholder: Sequoia Fund's results for the second quarter of 2012 are shown below with comparable results for the S&P 500 Index:

    The performance shown above represents past performance and does not guarantee future results. The table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance information shown.  


  • Sequoia Fund Investor Day Notes

    The Sequoia team goes through much of their portfolio during a question and answer session with investors. Companies discussed include:

    - Valeant (VRX)  


  • Low P/E Stocks in Ruane, Cunniff's Portfolio - Are They Cheap?

    William Ruane was the founder of Ruane, Cunniff & Goldfarb Inc., a privately owned investment manager. Ruane passed away in 2005 but the firm continues operating. Apart from investment managing, the firm provides advisory services to its clients. Its customer database includes individuals as well as investments companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations and corporations. It manages mutual funds for its clients.

    The company was formerly known as Ruane, Cunniff & Co. Inc.  


  • Sequoia Fund Managers Buy Waters Corp., Berkshire Hathaway, Chesapeake Energy, Sell McGrawhill, W.R. Berkley, Aon Corp.

    Sequoia Fund was founded by the late Bill Ruane. Who died in 2005. Currently, the Fund’s investment committee consists of Richard T. Cunniff, Robert Goldfarb, and David Poppe. $10,000 invested in the fund in 1970 at inception would become $2,208573 through Dec. 31, 2010, dividend and distribution re-invested.

    Ruane Cunniff buys Waters Corp., Berkshire Hathaway B, Chesapeake Energy Corp., Trimble Navigation Ltd., Google Inc., Corning Inc., Manpowergroup, Iivi Inc., Praxair Inc., Emcor Group Inc., Linear Technology Corp., West Pharmaceutical Services Inc., Yahoo! Inc., Ultra Petroleum Corp., Akamai Technologies Inc., Vanceinfo Technologies Inc., Sirona Dental Systems Inc., Washington Post, Everest Re Group Ltd., Directv, Shengkai Innovations Inc., Capella Education Company, Bed Bath & Beyond Inc., Microsoft Corp., sells McGrawhill Cos., W.r. Berkley Corp., Aon Corp., Eog Resources Inc., CVS Caremark, Pepsico Inc., Yum! Brands Inc., JP Morgan Chase during the 3-months ended 09/30/2011, according to the most recent filings of his investment company, Ruane & Cunniff & Goldfarb. As of 09/30/2011, Ruane & Cunniff & Goldfarb owns 129 stocks with a total value of $9.7 billion. These are the details of the buys and sells.  


  • Ruane Cunniff’s Success Formula

    In my last article, we dissected Bill Ruane's “meek-lamb mentality” for investment success. Here we’ll explore his secrets of building a successful money management firm.

    “Start your own business. It’s a hell of a lot of fun.”  


  • Ruane, Cunniff & Goldfarb Investor Day May 2011

    Sequoia fund had their recent Investor Presentation day, where the fund managers field questions about the Fund's investments. All of the fund managers are spectacular, but I wanted to focus on Greg Alexander. Greg Alexander keeps a very low profile, but Warren Buffett stated that Greg is one of the three best investors today. The other two that Buffett mentioned were, Seth Klarman and Li Lu. Sequoia has a huge stake in Berkshire Hathaway. I included a section where some of the managers talk about the succession plans at Berkshire (note: this conversation took place far before the announcement of Ted Weschler as an investment manager).

    Question:  


  • Value Shop Sequoia Fund Reports Q1 Portfolio

    Sequoia Fund was founded by legendary investor Bill Ruane, who died in Oct. 2005The current investment committee is directed by Richard T. Cunniff. William Ruane is a Graham-and-Doddsville superinvestor recognized by Warren Buffett. As of 03/31/2011, Ruane & Cunniff & Goldfarb Inc owns 149 stocks with a total value of $10.5 billion. These are the details of the buys and sells.

    This is the portfolio chart of Ruane Cunniff. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.  


  • Sequoia Fund 2010 Annual Shareholder Letter

    The annual shareholder letter for Sequoia Fund was released several days ago. Sequoia's co-managers, Robert Goldfarb and David Poppe were named by Morningstar as the domestic equity managers of the year (2010).

    Below is some commentary about the firm's large (but decreasing) stake in Berkshire Hathaway, followed by the full document in scribd.  


  • Ruane Cunniff Buys VRX, EOG, APOL, CNQ, INT, VALV, Sells CHK, JNJ, APEI, PGR, LBTYA, JOBS, CACC

    Sequoia Fund Managers at Ruane & Cunniff & Goldfarb Inc reported their Q4 portfolio. As of 12/31/2010, Ruane & Cunniff & Goldfarb Inc owns 152 stocks with a total value of $9.5 billion. These are the details of the buys and sells.

    The Sequoia Fund was founded in 1970 by William Ruane, who died in Oct. 2005. Currently, the Fund’s investment committee consists of Richard T. Cunniff, Robert Goldfarb, and David Poppe. $10,000 invested in the fund in 1970 at inception would become $2,208573 through Dec. 31, 2010, dividend and distribution re-invested. Talk about fortune making!  


  • Sequoia's Bob Goldfarb: We're Still Very Comfortable with Berkshire Hathaway

    Warren Buffett and Sequoia Fund went back many years. When Buffett closed his partnership in later 60’s, he recommended his investors take their money to Sequoia Fund. Evidently, the later has been a huge admirer for Buffett’s stock Berkshire Hathaway for it has held the stock in the fund for over 20 years.

    Recently, Sequoia’s fund manager David Poppe and Bob Goldfarb won the honor of Fund Manager for the Year 2010. Goldfarb explains why they fell in love with the stock:  


  • David Poppe Explains Why Squoia Likes Google Inc.

    The newly minted Fund Manager of the Year 2010, Sequoia’s David Poppe has this to say about the high-tech company Google Inc. (GOOG) in a Morningstar interview:

      


  • Morningstar Names Domestic-Equity Managers of the Year: Robert Goldfarb and David Poppe of Sequoia Fund

    The good folks at Morningstar has selected their Managers of the Year for 2010. The honor for The Domestic Equity Fund category goes to Robert Goldfarb and David Poppe of Sequoia Fund. Here is the Morningstar’s writing up on the fund:
    Domestic-Equity Managers of the Year Robert Goldfarb and David Poppe of Sequoia Fund

    You can't point to one savvy move or big bet that clinched the award for Goldfarb and Poppe. Sequoia is rooted in decades of deep individual-company research and deft execution of a winning, time-tested investment formula. The managers look for companies with enduring competitive advantages, strong balance sheets, and quality management. They buy when valuations look compelling and hold for the long term. The fund's turnover regularly clocks in below 15%. Sound like a strategy from Warren Buffett's playbook? It is. Buffett has played a role in the fund's success by not only inspiring management's investment philosophy from the very beginning, but also by running Berkshire Hathaway (BRK.A), one of Sequoia's largest holdings since 1990. Anyone could have bought Berkshire 20 years ago and held on, but very few have. It's far easier for scores of investors to play lip service and point to Buffett as a guiding light, but it has proven very difficult to emulate him with true investment success. The Sequoia team has done it.  


  • Sequoia Fund’s Top Sells: WAG, WRB, LBTYA, JNJ, IRS


  • Sequoia Fund Showed Us Where to Look For Value: VRX, GOOG, PRGO, APOL, EDMC

    The Sequoia Fund was founded in 1970 by William Ruane, who died in Oct. 2005. Currently, the Fund ‘s investment committee consists of Richard T. Cunniff, Robert Goldfarb, and David Poppe. $10,000 invested in the fund in 1970 at inception would become $1,922,460 through June 30, 2010, dividend and distribution re-invested. Talk about fortune making!

    Morningstar has recently an article on the fund entitled Sequoia Dials Down Its Concentration. It is an interesting article. You should check it out if you own the fund or are thinking about owning the fund. The article mentioned that the Fund seeks to invest in companies long-term. Typically they are looking for companies that have rock-solid balance sheet and an ability to compound capital.  


  • Sequoia Fund is Still Rather Concentrated; Top Holdings: BRK.A, VRX, TJX, IDXX, FAST, MHK

    The Sequoia Fund was founded in 1970 by William Ruane, who died in Oct. 2005. Currently, the Fund ‘s investment committee consists of Richard T. Cunniff, Robert Goldfarb, and David Poppe.

    William Ruane was a Graham-and-Doddsville superinvestor recognized by Warren Buffett. He is a student of Benjamin Graham, and attended his class during the same time as Warren Buffett did. $10,000 invested in the fund in 1970 at inception would become $1,922,460 through June 30, 2010, dividend and distribution re-invested. Talk about fortune making!  


  • Morningstar on The Sequoia Fund; Top Holdings: BRK.A, IDXX, TJX,FAST, VRX

    Recently, mutual fund rating company Morningstar put some nice words for Sequoia Fund, managed by Ruane, Cunniff & Goldfarb.
    Benz: So, let's talk about a couple of your fund ideas. One is kind of a tried-and-true quality-oriented pick, let's talk about that one.

    Dorsey: Well, Sequoia Fund. I mean this is a fund that's sort of well known to those inside the industry, because it's ... the firm Ruane, Cunniff... where Warren Buffett told folks who had invested in his partnership that dissolved in the late '60s, he said, well, I think these guys are pretty respectable, you should put your money over there if you still want someone to run it, and that sort of morphed into the Sequoia Fund over time, which was closed for a long, long time. There was actually a secondary market in the shares, if I'm not mistaken. And I think about three years ago, it reopened. And so, this is a fund that's in the top decile of performance over one, three, five, 10, 15 years; charges you are whopping 100 basis points; and is one of the most shareholder-friendly cultures I have ever found, and in the vein of "Keep It Simple Stupid," I mean, what more do you want.  


  • Ruane, Cunniff & Goldfarb Investor Day

    When Warren Buffett shut his partnership in the early 1970s he recommended one fund to his investors. That fund is the Sequoia Fund which is still in operation today.  


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