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Mutual Fund Gurus: Who Is Buying? Who Is Selling?
Posted by: gurufocus (IP Logged)
Date: May 23, 2012 03:31PM
In a previous article, we reported the mood of the hedge fund gurus – who was buying and who was selling. This article summarizes the portfolio trend of the mutual fund gurus.
In general, mutual fund gurus have lower turnover, and their net buy/sell is more driven by fund inflow/outflow. The table below illustrates the summary of the trades of mutual fund Gurus in the first quarter. “Buy Impact” is defined as the impact of the trades for the stocks they have either added or bought into. “Sell Impact” is the impact for the stocks that they have sold out or reduced. “Net Buy” is the difference between “Buy Impact” and “Sell Impact.” Apparently those with higher “Net Buy” were more bullish. Those with higher negative “Net Buy” were bearish.
We can see that compared with hedge fund Gurus, mutual fund Gurus have much smaller net buys and sells. The top buyers in the first quarter are Chuck Akre, David Winters and Donald Yacktman. Both Chuck Akre and Don Yacktman have built strong long term track records. They have seen good inflows in their funds. Chuck Akre bought into Moody’s (MCO), Mastercard (MA) and Visa (V). MasterCard and Visa are his favorite positions.
Donald Yacktman loves large-cap consumer staples Procter & Gamble (PG), Sysco (SYY), Clorox (CLX) and Pepsi (PEP).
The largest sellers are John Hussman and Mark Hillman. Hussman has been very bearish. It is not surprising to see him selling.
To see the consensus buys and sells, please go to the aggregated holdings of Gurus, or try our new All-in-One Screener. Guru Sector Trend will tell you which industry they are buying into.
Guru Discussed: Chuck Akre: Current Portfolio, Stock Picks
Donald Yacktman: Current Portfolio, Stock Picks
Stocks Discussed: MCO, MA, V, PG, SYS, CLX, PEP,