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Arnold Van Den Berg Buys GVA, HSII, IRM, Sells DD, GIS, KFY, PEP, UNH, XLF

10qk

Arnold Van Den Berg’s CM Value I Composites was incepted in 1974, and returned an average of 13.37% net of fees per year through the end of 2009. This is the Q3 portfolio update of his fund.

Van Den Berg likes to buy high quality companies that are sold at their historical low price/sales ratios. Then he looks for the margin of safety: “Investments are then made at a significant discount, normally 40% to 65% below our determination of a company's current intrinsic value. This allows us to buy companies with a margin of safety, as we strongly believe that the price we pay for a company will ultimately determine our return.”

We have received the portfolio of the CM Value I Composites directly from the firm. This is the buys and sells during the first quarter. His portfolio is filled with familiar names and quality large caps.

Arnold Van Den Berg buys Granite Construction Inc., Iron Mountain Inc., Heidrick & Struggles International Inc., Frontier Commun Cp, sells Pepsico Inc., E.i. Du Pont De Nemours And Co., Unitedhealth Group Inc., General Mills Inc., Select Sector Spdrfinancial, Korn/ferry International during the 3-months ended 09/30/2010, according to the most recent filings of his investment company, Century Management. Arnold Van Den Berg owns 96 stocks with a total value of $1.2 billion. These are the details of the buys and sells.

For the details of Arnold Van Den Berg's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Arnold+Van+Den+Berg

This is the sector weightings of his portfolio:

Industrials 26.4%
Technology 20.5%
Consumer Services 19.4%
Consumer Goods 13.7%
Financials 7.6%
Oil & Gas 7.3%
Telecommunications 3.1%
Utilities 1.2%
Health Care 0.9%


These are the top 5 holdings of Arnold Van Den Berg

  1. Microsoft Corp. (MSFT) - 2,712,214 shares, 5.71% of the total portfolio. Shares reduced by 5.45%
  2. WalMart Stores Inc. (WMT) - 1,116,861 shares, 5.14% of the total portfolio. Shares reduced by 5.46%
  3. The CocaCola Company (KO) - 923,377 shares, 4.64% of the total portfolio. Shares reduced by 5.47%
  4. ColgatePalmolive Company (CL) - 526,583 shares, 3.48% of the total portfolio. Shares reduced by 5.51%
  5. Walgreen Company (WAG) - 1,145,374 shares, 3.3% of the total portfolio. Shares reduced by 5.62%


Added: Jacobs Engineering Group Inc. (JEC)

Arnold Van Den Berg added to his holdings in Jacobs Engineering Group Inc. by 1266.47%. His purchase prices were between $34.68 and $39.97, with an estimated average price of $36.69. The impact to his portfolio due to this purchase was 1.16%. His holdings were 375,780 shares as of 09/30/2010.

Jacobs Engineering Group Inc. is one of the largest professional service firms in the United States providing engineering, design and consulting services; construction and construction management services; and process plant maintenance services to a broad range of industrial, commercialand governmental clients. Jacobs Engineering Group Inc. has a market cap of $5.07 billion; its shares were traded at around $40.33 with a P/E ratio of 16.1 and P/S ratio of 0.4. Jacobs Engineering Group Inc. had an annual average earning growth of 18.5% over the past 10 years. GuruFocus rated Jacobs Engineering Group Inc. the business predictability rank of 3.5-star.

Added: Valero Energy Corp. (VLO)

Arnold Van Den Berg added to his holdings in Valero Energy Corp. by 75.03%. His purchase prices were between $15.65 and $18.31, with an estimated average price of $17.09. The impact to his portfolio due to this purchase was 0.92%. His holdings were 1,420,105 shares as of 09/30/2010.

Valero Energy Corporation owns and operates refineries in the United States and Canada with a combined throughput capacity of approximately two million BPD, making it one of the nation's top refiners of petroleum products. Valero Energy Corp. has a market cap of $9.88 billion; its shares were traded at around $17.44 with a P/E ratio of 193.8 and P/S ratio of 0.1. The dividend yield of Valero Energy Corp. stocks is 1.2%. Valero Energy Corp. had an annual average earning growth of 11.9% over the past 10 years.

Added: Harsco Corp. (HSC)

Arnold Van Den Berg added to his holdings in Harsco Corp. by 45.74%. His purchase prices were between $19.94 and $27.1, with an estimated average price of $23.58. The impact to his portfolio due to this purchase was 0.87%. His holdings were 1,316,185 shares as of 09/30/2010.

Harsco Corporation is a services and engineered products company. Harsco Corp. has a market cap of $2 billion; its shares were traded at around $24.81 with a P/E ratio of 16.1 and P/S ratio of 0.6. The dividend yield of Harsco Corp. stocks is 3.3%. Harsco Corp. had an annual average earning growth of 8.3% over the past 10 years. GuruFocus rated Harsco Corp. the business predictability rank of 2.5-star.

Added: Thermo Fisher Scientific Inc. (TMO)

Arnold Van Den Berg added to his holdings in Thermo Fisher Scientific Inc. by 675.23%. His purchase prices were between $42.12 and $51.09, with an estimated average price of $46.48. The impact to his portfolio due to this purchase was 0.85%. His holdings were 237,725 shares as of 09/30/2010.

Thermo Fisher Scientific is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. Thermo Fisher Scientific Inc. has a market cap of $19.52 billion; its shares were traded at around $47.92 with a P/E ratio of 14.3 and P/S ratio of 1.9. Thermo Fisher Scientific Inc. had an annual average earning growth of 10.8% over the past 10 years.

Added: Staples Inc. (SPLS)

Arnold Van Den Berg added to his holdings in Staples Inc. by 3710.33%. His purchase prices were between $17.64 and $20.87, with an estimated average price of $19.51. The impact to his portfolio due to this purchase was 0.72%. His holdings were 413,040 shares as of 09/30/2010.

Staples.com is creating a business-to-business electronic marketplace offering a comprehensive solution for all of the officeneeds of business customers. Staples Inc. has a market cap of $15.28 billion; its shares were traded at around $20.93 with a P/E ratio of 16.8 and P/S ratio of 0.6. The dividend yield of Staples Inc. stocks is 1.7%. Staples Inc. had an annual average earning growth of 13.9% over the past 10 years. GuruFocus rated Staples Inc. the business predictability rank of 3.5-star.

Added: Toll Brothers Inc. (TOL)

Arnold Van Den Berg added to his holdings in Toll Brothers Inc. by 113.61%. His purchase prices were between $16.02 and $19.09, with an estimated average price of $17.43. The impact to his portfolio due to this purchase was 0.43%. His holdings were 496,000 shares as of 09/30/2010.

TOLL BROTHERS INC. designs, builds, markets and arranges financing for single-family detached and attached homes in middle and high income residential communities in thirteen staes and five regions around the country. Toll Brothers Inc. has a market cap of $3.09 billion; its shares were traded at around $18.69 with and P/S ratio of 1.8.

Added: Intel Corp. (INTC)

Arnold Van Den Berg added to his holdings in Intel Corp. by 16.32%. His purchase prices were between $17.665 and $21.78, with an estimated average price of $19.67. The impact to his portfolio due to this purchase was 0.31%. His holdings were 1,344,715 shares as of 09/30/2010.

Intel Corporation, one of the world's largest semiconductor chip maker, supplies the computing and communications industries with chips, boards, and systems building blocks that are integral to computers, servers, and networking and communications products. Intel Corp. has a market cap of $107.52 billion; its shares were traded at around $19.31 with a P/E ratio of 11.6 and P/S ratio of 3. The dividend yield of Intel Corp. stocks is 3.3%. Intel Corp. had an annual average earning growth of 2.5% over the past 10 years.

Added: M.d.c. Holdings Inc. (MDC)

Arnold Van Den Berg added to his holdings in M.d.c. Holdings Inc. by 13.64%. His purchase prices were between $25.91 and $30.25, with an estimated average price of $27.92. The impact to his portfolio due to this purchase was 0.28%. His holdings were 935,361 shares as of 09/30/2010.

M.D.C. HOLDINGS, INC. is engaged in the construction, sale and related financing of residential housing and the acquisition and development of land for use in its homebuilding activities and sale to others, in the Denver, Phoenix, Maryland, Virginia, mid Atlantic region, Las Vegas, Dallas, California metropolitan areas. M.d.c. Holdings Inc. has a market cap of $1.33 billion; its shares were traded at around $28.29 with and P/S ratio of 1.5. The dividend yield of M.d.c. Holdings Inc. stocks is 3.5%.

Added: Seabright Insurance Holdings Inc (SBX)

Arnold Van Den Berg added to his holdings in Seabright Insurance Holdings Inc by 31.7%. His purchase prices were between $6.54 and $9.89, with an estimated average price of $8.26. The impact to his portfolio due to this purchase was 0.24%. His holdings were 1,429,376 shares as of 09/30/2010.

Seabright Insurance Holdings, Inc. is an insurance holding company whose wholly owned subsidiary, SeaBright Insurance Company, operates as a specialty provider of multi-jurisdictional workers' compensation insurance. Seabright Insurance Holdings Inc has a market cap of $174.2 million; its shares were traded at around $7.91 with and P/S ratio of 0.6. The dividend yield of Seabright Insurance Holdings Inc stocks is 2.6%.

Added: Lydall Inc. (LDL)

Arnold Van Den Berg added to his holdings in Lydall Inc. by 57.14%. His purchase prices were between $6.62 and $8.17, with an estimated average price of $7.36. The impact to his portfolio due to this purchase was 0.23%. His holdings were 987,087 shares as of 09/30/2010.

Lydall, Inc. and its subsidiaries are manufacturers of engineered products for demanding specialty applications. Lydall Inc. has a market cap of $127.2 million; its shares were traded at around $7.45 with and P/S ratio of 0.5.

Added: At&t Inc. (T)

Arnold Van Den Berg added to his holdings in At&t Inc. by 11.01%. His purchase prices were between $24.29 and $28.92, with an estimated average price of $26.67. The impact to his portfolio due to this purchase was 0.1%. His holdings were 398,060 shares as of 09/30/2010.

AT&T Inc. is a premier communications holding company. At&t Inc. has a market cap of $169.12 billion; its shares were traded at around $28.62 with a P/E ratio of 12.8 and P/S ratio of 1.4. The dividend yield of At&t Inc. stocks is 5.8%. At&t Inc. had an annual average earning growth of 2.8% over the past 10 years.

Added: Powell Industries Inc. (POWL)

Arnold Van Den Berg added to his holdings in Powell Industries Inc. by 197.51%. His purchase prices were between $26.54 and $36.07, with an estimated average price of $30.48. The impact to his portfolio due to this purchase was 0.04%. His holdings were 22,135 shares as of 09/30/2010.

Powell Industries, Inc. sells, designs, develops, manufactures, packages and services systems and equipment for the distribution, control and management of electrical energy and other dynamic processes. Powell Industries Inc. has a market cap of $350.9 million; its shares were traded at around $30.07 with a P/E ratio of 8.9 and P/S ratio of 0.5. Powell Industries Inc. had an annual average earning growth of 8.9% over the past 10 years.

Added: Rudolph Technologies Inc. (RTEC)

Arnold Van Den Berg added to his holdings in Rudolph Technologies Inc. by 38.97%. His purchase prices were between $7.25 and $9.51, with an estimated average price of $8.27. The impact to his portfolio due to this purchase was 0.01%. His holdings were 41,370 shares as of 09/30/2010.

Rudolph Technologies is a worldwide leader in the design, development, manufacture and support of high-performance process control metrology, defect inspection and data analysis systems used by semiconductor device manufacturers. Rudolph Technologies Inc. has a market cap of $258.5 million; its shares were traded at around $8.25 with a P/E ratio of 39.2 and P/S ratio of 3.4.

Added: Molex Inc. (MOLX)

Arnold Van Den Berg added to his holdings in Molex Inc. by 42.86%. His purchase prices were between $17.65 and $21.1, with an estimated average price of $19.21. The impact to his portfolio due to this purchase was 0.01%. His holdings were 15,450 shares as of 09/30/2010.

Molex is one of the manufacturers of electronic, electrical and fiber optic interconnection products and systems; switches; value-added assemblies; and application tooling. Molex Inc. has a market cap of $3.74 billion; its shares were traded at around $21.47 with a P/E ratio of 19.9 and P/S ratio of 1.2. The dividend yield of Molex Inc. stocks is 2.8%.

Added: The L.s. Starrett Company (SCX)

Arnold Van Den Berg added to his holdings in The L.s. Starrett Company by 24.51%. His purchase prices were between $8.65 and $10.8, with an estimated average price of $9.4. The impact to his portfolio due to this purchase was 0.01%. His holdings were 41,848 shares as of 09/30/2010.

The L.S. Starrett Company is engaged in the business of manufacturing industrial, professional, and consumer products. The L.s. Starrett Company has a market cap of $71.1 million; its shares were traded at around $10.65 with and P/S ratio of 0.4. The dividend yield of The L.s. Starrett Company stocks is 2.2%.

New Purchase: Granite Construction Inc. (GVA)

Arnold Van Den Berg initiated holdings in Granite Construction Inc.. His purchase prices were between $21.44 and $24.79, with an estimated average price of $23.13. The impact to his portfolio due to this purchase was 0.88%. His holdings were 451,890 shares as of 09/30/2010.

Granite Construction, Inc. is a diversified heavy civil constractor and construction materials producer. Granite Construction Inc. has a market cap of $910.1 million; its shares were traded at around $23.47 with a P/E ratio of 167.7 and P/S ratio of 0.4. The dividend yield of Granite Construction Inc. stocks is 2.2%. Granite Construction Inc. had an annual average earning growth of 11.7% over the past 10 years.

New Purchase: Iron Mountain Inc. (IRM)

Arnold Van Den Berg initiated holdings in Iron Mountain Inc.. His purchase prices were between $20.25 and $25.58, with an estimated average price of $22.34. The impact to his portfolio due to this purchase was 0.45%. His holdings were 236,955 shares as of 09/30/2010.

Iron Mountain Incorporated is one of the world's largest records and information management services company. Iron Mountain Inc. has a market cap of $4.12 billion; its shares were traded at around $20.43 with a P/E ratio of 20 and P/S ratio of 1.4. The dividend yield of Iron Mountain Inc. stocks is 1.2%. Iron Mountain Inc. had an annual average earning growth of 13.5% over the past 10 years. GuruFocus rated Iron Mountain Inc. the business predictability rank of 4-star.

New Purchase: Heidrick & Struggles International Inc. (HSII)

Arnold Van Den Berg initiated holdings in Heidrick & Struggles International Inc.. His purchase prices were between $16.55 and $22.35, with an estimated average price of $19.23. The impact to his portfolio due to this purchase was 0.23%. His holdings were 135,525 shares as of 09/30/2010.

Heidrick & Struggles International is one of the global executive search firms. Heidrick & Struggles International Inc. has a market cap of $339.2 million; its shares were traded at around $19.36 with a P/E ratio of 18.8 and P/S ratio of 0.8. The dividend yield of Heidrick & Struggles International Inc. stocks is 2.7%.

New Purchase: Frontier Commun Cp (FTR)

Arnold Van Den Berg initiated holdings in Frontier Commun Cp. His purchase prices were between $7.03 and $8.24, with an estimated average price of $7.67. The impact to his portfolio due to this purchase was 0.12%. His holdings were 167,671 shares as of 09/30/2010.

FRONTIER COMMUNICATIONS CORPORATION, formerly Citizens Communications Company, is a full-service communications provider and one of the largest rural local exchange telephone companies in the country. Frontier Commun Cp has a market cap of $8.33 billion; its shares were traded at around $8.4 with a P/E ratio of 12.3 and P/S ratio of 3.9. The dividend yield of Frontier Commun Cp stocks is 9%. Frontier Commun Cp had an annual average earning growth of 2.9% over the past 10 years.

Reduced: Johnson & Johnson (JNJ)

Arnold Van Den Berg reduced to his holdings in Johnson & Johnson by 30.66%. His sale prices were between $57.02 and $62.43, with an estimated average price of $59.49. The impact to his portfolio due to this sale was -0.01%. Arnold Van Den Berg still held 7,248 shares as of 09/30/2010.

Johnson & Johnson is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world. Johnson & Johnson has a market cap of $174.11 billion; its shares were traded at around $63.21 with a P/E ratio of 13.4 and P/S ratio of 2.7. The dividend yield of Johnson & Johnson stocks is 3.4%. Johnson & Johnson had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Johnson & Johnson the business predictability rank of 4.5-star.

Reduced: Learning Tree International Inc. (LTRE)

Arnold Van Den Berg reduced to his holdings in Learning Tree International Inc. by 83.73%. His sale prices were between $8.41 and $12.63, with an estimated average price of $10.52. The impact to his portfolio due to this sale was -0.02%. Arnold Van Den Berg still held 23,048 shares as of 09/30/2010.

Learning Tree International, Inc., is a worldwide provider of education and training to information technology professionals in business and government organizations. Learning Tree International Inc. has a market cap of $135.8 million; its shares were traded at around $9.99 with a P/E ratio of 23.8 and P/S ratio of 1.

Reduced: Pacific Sunwear Of California Inc. (PSUN)

Arnold Van Den Berg reduced to his holdings in Pacific Sunwear Of California Inc. by 41.45%. His sale prices were between $2.98 and $5.54, with an estimated average price of $4.06. The impact to his portfolio due to this sale was -0.1%. Arnold Van Den Berg still held 531,580 shares as of 09/30/2010.

Pacific Sunwear of CA, Inc. and its wholly-owned subsidiaries is a specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. Pacific Sunwear Of California Inc. has a market cap of $365 million; its shares were traded at around $5.54 with and P/S ratio of 0.3.

Sold Out: Unitedhealth Group Inc. (UNH)

Arnold Van Den Berg sold out his holdings in Unitedhealth Group Inc.. His sale prices were between $28.3 and $35.73, with an estimated average price of $32.34.

UnitedHealth Group Inc. offers health care coverage and related services to help people achieve improved health and well-being through all stages of life. Unitedhealth Group Inc. has a market cap of $38.17 billion; its shares were traded at around $33.95 with a P/E ratio of 9.1 and P/S ratio of 0.4. The dividend yield of Unitedhealth Group Inc. stocks is 1.4%. Unitedhealth Group Inc. had an annual average earning growth of 22.1% over the past 10 years. GuruFocus rated Unitedhealth Group Inc. the business predictability rank of 3.5-star.

Sold Out: Select Sector Spdrfinancial (XLF)

Arnold Van Den Berg sold out his holdings in Select Sector Spdrfinancial. His sale prices were between $13.44 and $15.08, with an estimated average price of $14.36.

Select Sector Spdrfinancial has a market cap of $5.89 billion; its shares were traded at around $14.72 . The dividend yield of Select Sector Spdrfinancial stocks is 0.9%.

Sold Out: General Mills Inc. (GIS)

Arnold Van Den Berg sold out his holdings in General Mills Inc.. His sale prices were between $33.57 and $37.24, with an estimated average price of $35.64.

General Mills, Inc. is one of the producers of packaged consumer foods and markets its products primarily through its own sales organizations, supported by advertising and other promotional activities. General Mills Inc. has a market cap of $23.95 billion; its shares were traded at around $37.3 with a P/E ratio of 16.1 and P/S ratio of 1.6. The dividend yield of General Mills Inc. stocks is 3%. General Mills Inc. had an annual average earning growth of 7.7% over the past 10 years.

Sold Out: Pepsico Inc. (PEP)

Arnold Van Den Berg sold out his holdings in Pepsico Inc.. His sale prices were between $61.53 and $66.89, with an estimated average price of $65.01.

PepsiCo, Inc. consists of: Frito-Lay Company, Pepsi-Cola Company, and Tropicana Products. Pepsico Inc. has a market cap of $108.36 billion; its shares were traded at around $68.11 with a P/E ratio of 17.7 and P/S ratio of 2.5. The dividend yield of Pepsico Inc. stocks is 2.9%. Pepsico Inc. had an annual average earning growth of 8.9% over the past 10 years. GuruFocus rated Pepsico Inc. the business predictability rank of 4-star.

Sold Out: E.i. Du Pont De Nemours And Co. (DD)

Arnold Van Den Berg sold out his holdings in E.i. Du Pont De Nemours And Co.. His sale prices were between $34.05 and $45.67, with an estimated average price of $40.64.

E.I. DuPont de Nemours is involved in science and technology in a range of disciplines including high-performance materials, specialty chemicals, pharmaceuticals and biotechnology. E.i. Du Pont De Nemours And Co. has a market cap of $41.58 billion; its shares were traded at around $45.87 with a P/E ratio of 13.9 and P/S ratio of 1.5. The dividend yield of E.i. Du Pont De Nemours And Co. stocks is 3.6%.

Sold Out: Korn/ferry International (KFY)

Arnold Van Den Berg sold out his holdings in Korn/ferry International. His sale prices were between $12.95 and $16.67, with an estimated average price of $14.55.

Korn/Ferry International is the world's and largestexecutive recruitment firm with the broadest global presence in the executive recruitment industry. Korn/ferry International has a market cap of $746.7 million; its shares were traded at around $16.43 with a P/E ratio of 26.1 and P/S ratio of 1.3.


Rating: 2.8/5 (6 votes)

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