Scott Black

Scott Black

Last Update: 11-13-2015

Number of Stocks: 101
Number of New Stocks: 11

Total Value: $637 Mil
Q/Q Turnover: 12%

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

Scott Black Watch

  • Stocks in the Spotlight

    Stocks ended down on Monday as they came under heavy pressure toward the end of the trading day. Stocks once again followed crude lower, which settled at $30 after finishing last week at $31.


    News is starting to get interesting for energy stocks as the reality of $30 starts to set in. For example, Halliburton presented "an enhanced set of proposed divestitures" to the U.S. Department of Justice earlier this month. Halliburton also laid off 4,000 workers last year in an effort to cut costs down. In Canada, where the cost to produce a barrel of crude is much higher, some producers are losing money on every barrel they sell. Companies operating in the Canadian Oil Sands include Canadian Natural Resources (NYSE:CNQ), Suncor Energy (NYSE:SU), to which Warren Buffett keeps adding, and Imperial Oil (IMO).

      


  • A Glance at Scott Black's 3rd-Quarter Divestitures

    A guru’s quarterly acquisitions always attract attention, and GuruFocus has examined Scott Black (Trades, Portfolio)’s acquisitions in the third quarter and his top picks for 2016, but there are lessons to be learned from an investor's divestitures. In the third quarter, Black sold 13 stakes.


    The most significant of Black’s third-quarter stakes sales was the divestiture of his 84,741-share stake in United Technologies Corp. (NYSE:UTX), a Hartford, Connecticut-based conglomerate, for an average price of $97.82 per share. The transaction had a -1.26% on Black’s portfolio.

      


  • 2 Stocks Super Investors Are Buying in Large Quantities

    GuruFocus provides tools and screens to look at 13-F filings in the aggregate and discover lots of information about the famous gurus of value investing. I used the aggregated portfolio tool to sort guru holdings on combined weighting percentage. Basically it shows us which stocks value investment gurus have allocated the most funds to.


    Since J. L. Kelly Jr. gave us the Kelly criterion in 1956, we know that means these are the highest conviction picks of these super investors. This is not quite true, however, because there are a few things messing up that logic. First, the U.S. tax code and long term capital gains tax and some stocks have multiple securities listed under different names.

      


  • Scott Black's 4 Stock Picks for 2016


    Guru Scott Black (Trades, Portfolio) of Delphi Management, Inc. just appeared on CNBC and talked about four of the fund's holdings. One: Apple (NASDAQ:AAPL) being a recent pick. Delphi Management pursues a proven, conservative investment strategy with a focus on fundamentals. It is rigorous with its quantitative analysis but also tries to buy into companies that are well managed. It considers itself a classic value investor of the Graham-Dodd ilk.

      


  • 'Tis the Season

    Clothing, both formal and casual, is always a popular choice for Christmas gift giving.


    If I didn’t know that before, I certainly learned it when I was with a sportswear trade magazine, and the staff put together Christmas-themed issues with photos of clothing being sold across the globe. The first time I worked on such an issue, I was constantly amazed by the variety of clothing that was available.

      


  • Microsemi to Acquire PMC-Sierra

    Recently Microsemi Corp. (MSCC) completed its acquisition of Vitesse Semiconductor Corp. (VTSS), which resulted in organic growth and secured record bookings. Microsemi also announced that it entered into another agreement to acquire PMC-Sierra. (PMCS). Last October PMC merged with Skyworks Solutions Inc. (SWKS) to which Skyworks would acquire all of the outstanding shares of PMC common stock for $11.60 per share in an all-cash transaction.


    Microsemi is a designer, manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The company's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals. The company delivered impressive fiscal third quarter results.

      


  • Scott Black Ups Stake in Goldman Sachs, Goodyear

    Scott Black is the chairman, president and CIO at Delphi Management Inc., which is an employee-owned investment manager that only takes long positions in U.S. equities. 


    Delphi offers two products: an All-Capitalization portfolio and a Small/Mid-Capitalization portfolio with an emphasis on companies with market capitalizations below the high end of the Russell 2500 Value Index.

      


  • Value Guru Scott Black Buys Boston Properties, Whirlpool, 3 More

    Scott Black (Trades, Portfolio), a financial manager widely followed for his staunch Graham-Dodd value strategy, invested in 11 new companies in the third quarter as he sold out of his positions in 13.


    Black purchases only U.S. companies that have good businesses when they sell at a cheap price, regardless of market conditions. His Boston-based Delphi Management uses proprietary research to find underpriced stocks and holds Berkshire Hathaway (NYSE:BRK.B) as their largest position.

      


  • Ken Fisher Cuts His Stake in Royal Bank, Buys Roche Holding

    Ken Fisher (Trades, Portfolio) is the chief executive officer and chief investment officer of Fisher Investments, which offers an array of educational resources to its 27,000-plus private clients —including quarterly reports, in-person seminars and regular phone communication. Fisher Investments extends these educational resources to the public through a series of investing guides, online videos and daily commentary at MarketMinder.com.


    Fisher manages a portfolio composed of 592 stocks with a total value of $49.932 billion and the following are the largest of about 500 trades he closed during the second quarter.

      


  • Scott Black Sells Stakes in 10 Companies

    Scott Black (Trades, Portfolio), Delphi Management’s chairman, president, chief investment officer and chief compliance officer, is a value investor, and he did buy some new stakes and add to existing ones in the second quarter – but he also sold some significant stakes in his portfolio.


    Black sold his 134,922-share stake in Baxter International Inc. (NYSE:BAX), an Illinois-based medical equipment company, for an average price of $37.38 per share. The sale had a -1.23% impact on Black’s portfolio.

      


  • Precision Castparts: Buffett's Biggest Deal

    The oracle of Omaha said that Berkshire will pay $235 per share in cash for Precision Castparts Corp. (NYSE:PCP)´s outstanding stock. The deal is valued at about $37.2 billion, including debt.


    GuruFocus DCF Calculator gives a fair value of $249.46 per share, with 138.9 million shares outstanding, the total value of the Precision Castparts is $34.6 billion, which is very close to the deal price. Shares of the company surged more than 19%, or $37, to $230.85 in early trading today.

      


  • Despite Industry's Risk, I would bet on Tyson Foods

    In this article, let's take a look at Tyson Foods, Inc. (NYSE:TSN), a $17.6 billion market cap company, which is one of the world's largest suppliers of beef, chicken, pork and prepared foods. The firm operates in the food industry, which is highly competitive and is dominated by HJ Heinz (HJH), Kraft Foods (KRFT), General Mills (NYSE:GIS), and Kellogg (NYSE:K).


    Fund´s positions

      


  • Scott Black's Most Heavily Weighted Trades In Q1 2015

    Mr. Scott M. Black is the Chairman, President, Chief Investment Officer, and Chief Compliance Officer at Delphi Management, Inc. In 1978, he had joined William O'Neil Company, before managing equities for Sunkist Growers in 1979. Prior to that, Mr. Black worked at Merrill Lynch, initially in the market planning department and then rose to the Head of Corporate Development, where he was responsible for the holding company's diversification activities.


      



  • Scott Black Adds 12 New Positions During 1QFY15 To His Portfolio

    Scott Black (Trades, Portfolio) of Delphi Management, Inc added twelve new positions to his portfolio, according to GuruFocus Real Time Picks. His portfolio, which is valued at $753 million, now has 101 stocks and an 11% quarter over quarter turnover rate.


    The most heavily weighted sector in Black's portfolio is the consumer cyclical sector, which conists of 23.8% if his portfolio. The second most weighted sector is technology, which makes upo 17% of his portfolio and the third is financial services, which is 15.9%.

      


  • ARLP is below Peter Lynch Earning Line

    From my watch list, let’s have a short view on Alliance Resource Partners LP (ARLP), that looks undervalued based on the Peter Lynch Earnings Line.


    Alliance Resource Partners LP

      


  • Scott Black's Top 5 New Holdings in Q4

    In 1980, value investor Scott Black (Trades, Portfolio) founded Delphi Management, which takes only long positions in U.S.-listed companies. According to the firm’s website, Delphi’s team believes investments should exhibit absolute value, and personally contacts the management of every company before making an investment.


    The firm’s two products are the All-Capitalization portfolio, which invests in business that meet Delphi’s criteria regardless of market capitalization. The Small/Mid-Capitalization portfolio focuses on companies below the high-end of the Russell 2500 Value Index.

      


  • Should You Invest In a Diversified Manufacturer?

    In this article, let's take a look at Honeywell International Inc. (NYSE:HON), a $79.59 billion market cap company that is the world's largest maker of avionics, small jet engines and climate and process control equipment.


    Diversified revenue base

      


  • Weekly CEO Buys Highlight: SFXE, JMP, JONE, TEP, BCEI

    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:


    SFX Entertainment Inc (SFXE): CEO and Chairman of the Board, 10% Owner Robert F X Sillerman bought 1,774,382 shares

      


  • I think Zimmer Will Outperform S&P 500 Performance

    In this article, let's take a look at Zimmer Holdings, Inc. (ZMH), a $19.38 billion market cap company, spun off by Bristol-Myers Squibb (NYSE:BMY) in August 2001; and manufactures orthopedic reconstructive implants, fracture management products, and dental implants.


    Leader position

      


  • Scott Black's Top 5 Holdings in the Third Quarter

    Scott Black (Trades, Portfolio) founded Delphi Management in 1980, a conservative value investing firm with a portfolio worth $702 million in the quarter ended Sept. 30.


    The firm is a disciple of the Graham-Dodd school of thought and contacts the management of each company before investing its client’s funds. Its two products are the all-capitalization portfolio, and the small/mid-capitalization portfolio, which has an emphasis on companies with market caps below the high end of the Russell 2500 Value Index.

      


  • Scott Black's Top Second Quarter Stock Buys

    Founder and president of Delphi Management Inc. Scott Black (Trades, Portfolio) is a Graham-Dodd value investor who focuses in particular on management, contacting the heads of every company in which he invests. Black’s company also takes only long positions and holds only U.S.-based stocks.  


  • Guru Scott Black Prefers Small Caps in His Barron's Midyear Roundtable Stock Picks

    Every year Barron’s gets its Roundtable team together and they discuss stock picks and the status of the economy in general. Guru Scott Black (Trades, Portfolio) is another member of Barron’s Roundtable team, and the following stocks are his Midyear Roundtable stock picks and updates from January’s Roundtable picks. For this midyear’s roundtable, Black chose two small cap stocks as his picks despite the fact that he currently believes that “small- and mid-cap stocks, as an asset class, are overpriced.”

    Scott Black (Trades, Portfolio) is the Chairman, President, CIO and CCO at Delphi Management. According to the fund’s website, Scott Black (Trades, Portfolio) and Delphi Management follow a conservative investment strategy that emphasizes the fundamental performance of underlying companies rather than making bets on the short-term market movements. Their investment strategy also states that they only invest in equity securities of US-listed companies and only takes long positions.  


  • Value Investor Scott Black Discusses Berkshire Hathaway, Other Cheap Stocks



  • Stocks Scott Black Likes - Flextronics, PDC Energy



  • Delphi's Scott Black - Bullish on U.S.



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