GuruFocus starts to track the stock portfolio of Todd Combs, the investment manager newly picked by Warren Buffett to manage a significant portion of Berkshire Hathaway’s portfolio.
At his current firm Castle Point Capital, Combs manages about $400 million. He takes long and short positions. At least as far as the long positions are concerned, they are mostly financial stocks. He is not required to disclose his short positions. Combs’s appointment is quite a surprise to some us. Aside from the smaller size of the portfolio under management and young age (Mr. Combs is 39 years old), Mr. Combs’s investment style seems to differ slightly from the current buy-and-hold style that Berkshire Hathaway currently employs.
For example, at the end of the second quarter of this year, Combs had 27 long positions. Among them, a third of them, eight are new positions. And that is just for one quarter.
One thing Combs does as what Buffet does is to take concentrated positions. As an illustration, here are his top five holdings as of June 30, 2010:
Curious what other stocks Combs holds? Click here
At his current firm Castle Point Capital, Combs manages about $400 million. He takes long and short positions. At least as far as the long positions are concerned, they are mostly financial stocks. He is not required to disclose his short positions. Combs’s appointment is quite a surprise to some us. Aside from the smaller size of the portfolio under management and young age (Mr. Combs is 39 years old), Mr. Combs’s investment style seems to differ slightly from the current buy-and-hold style that Berkshire Hathaway currently employs.
For example, at the end of the second quarter of this year, Combs had 27 long positions. Among them, a third of them, eight are new positions. And that is just for one quarter.
One thing Combs does as what Buffet does is to take concentrated positions. As an illustration, here are his top five holdings as of June 30, 2010:
No. 1: U.S. Bancorp (USB), Weightings: 8.15% - 1,020,000 Shares
U.S. Bancorp is a financial services holding company. U.s. Bancorp has a market cap of $45 billion; its shares were traded at around $23.47 with a P/E ratio of 15.2 and P/S ratio of 2.3. The dividend yield of U.s. Bancorp stocks is 0.9%. U.s. Bancorp had an annual average earning growth of 2.1% over the past 10 years.No. 2: MasterCard Inc. (MA), Weightings: 7.28% - 102,000 Shares
MASTERCARD INCORPORATED advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. Mastercard Inc. has a market cap of $32.08 billion; its shares were traded at around $245.15 with a P/E ratio of 19.1 and P/S ratio of 6.3. The dividend yield of Mastercard Inc. stocks is 0.2%.No. 3: State Street Corp. (STT), Weightings: 6.78% - 561,000 Shares
State Street Corporation is the world's specialist in providing sophisticated global investors with investment servicing, investment management, investment research and trading services. State Street Corp. has a market cap of $20.21 billion; its shares were traded at around $40.26 with a P/E ratio of 11.4 and P/S ratio of 2.2. The dividend yield of State Street Corp. stocks is 0.1%. State Street Corp. had an annual average earning growth of 3.4% over the past 10 years.No. 4: The Western Union Company (WU), Weightings: 6.52% - 1,224,000 Shares
The Western Union Company is a provider of global money-transfer services. The Western Union Company has a market cap of $11.95 billion; its shares were traded at around $18.11 with a P/E ratio of 13.8 and P/S ratio of 2.3. The dividend yield of The Western Union Company stocks is 1.3%. The Western Union Company had an annual average earning growth of 3.2% over the past 5 years.No. 5: CME GROUP INC CL A (CME), Weightings: 5.13% - 51,000 Shares
Chicago Mercantile Exchange Holdings is the parent company of Chicago Mercantile Exchange Inc, the largest futures exchange in the United States based on notional value, trading volume and open interest. CME Group Inc Cl A has a market cap of $19.02 billion; its shares were traded at around $282.98 with a P/E ratio of 19.2 and P/S ratio of 7.3. The dividend yield of Cme Group Inc Cl A stocks is 1.6%. CME Group Inc Cl A had an annual average earning growth of 14.6% over the past 5 years.Curious what other stocks Combs holds? Click here
