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Steven Romick of FPA Crescent Fund Buys BUD, WDC, MSFT, JNJ, WAG, RIG, KFT, CVS

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gurufocus

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Steven Romick of FPA Crescent Fund just released his third quarter portfolio. He is the only guru that reports his short positions. These are the details.

FPA Crescent Fund underperformed the market slightly this year. But over ht epast 10 years, it has gained 178% cumulatively, as the market lost 8.1%. As of Sept. 30, FPA Crescent Fund is 54.43% long, 4.38% short, 18% in cash.

The fund added into a lot of new positions. He especially likes WDC, and he wrote a long comment for WDC in the shareholder letter.

FPA Crescent Fund owns 74 stocks with a total value of $1.9 billion. These are the details of the buys and sells.

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

This is the sector weightings of his portfolio:

Oil & Gas 19.9%
Health Care 19.4%
Consumer Services 7%
Consumer Goods 5.7%
Technology 4.3%
Telecommunications 2.6%
Financials 2.4%
Industrials 2.3%
Basic Materials 1.8%


These are the top 5 holdings of Steven Romick

  1. ENSCO International Inc. (ESV) - 4,000,000 shares, 7.81% of the total portfolio. Shares added by 4.17%
  2. Aon (AON) - 3,960,000 shares, 6.76% of the total portfolio. Shares added by 41.94%
  3. Covidien Ltd. (COV) - 3,740,000 shares, 6.56% of the total portfolio. Shares added by 37.45%
  4. Occidental Petroleum Corp. (OXY) - 1,610,000 shares, 5.5% of the total portfolio. Shares added by 26.97%
  5. WalMart Stores Inc. (WMT) - 1,693,000 shares, 3.95% of the total portfolio. Shares added by 12.87%


Added: Aon (AON)

Steven Romick added to his holdings in Aon by 41.94%. His purchase prices were between $35.62 and $39.62, with an estimated average price of $37.49. The impact to his portfolio due to this purchase was 2%. His holdings were 3,960,000 shares as of 09/30/2010.

Aon Corporation is a holding company whose operating subsidiaries carry onbusiness in three distinct segments: insurance brokerage and other services; consulting; and insurance underwriting. Aon has a market cap of $11.43 billion; its shares were traded at around $42.26 with a P/E ratio of 13.2 and P/S ratio of 1.4. The dividend yield of Aon stocks is 1.5%. Aon had an annual average earning growth of 2.7% over the past 10 years.

Added: Covidien Ltd. (COV)

Steven Romick added to his holdings in Covidien Ltd. by 37.45%. His purchase prices were between $35.34 and $40.99, with an estimated average price of $38.52. The impact to his portfolio due to this purchase was 1.79%. His holdings were 3,740,000 shares as of 09/30/2010.

Covidien PLC, formerly Covidien Ltd, is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. Covidien Ltd. has a market cap of $21.59 billion; its shares were traded at around $43.04 with a P/E ratio of 12.5 and P/S ratio of 2. The dividend yield of Covidien Ltd. stocks is 1.9%.

Added: Occidental Petroleum Corp. (OXY)

Steven Romick added to his holdings in Occidental Petroleum Corp. by 26.97%. His purchase prices were between $72.23 and $82.92, with an estimated average price of $77.66. The impact to his portfolio due to this purchase was 1.17%. His holdings were 1,610,000 shares as of 09/30/2010.

Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental Petroleum Corp. has a market cap of $73.7 billion; its shares were traded at around $90.74 with a P/E ratio of 16.8 and P/S ratio of 4.8. The dividend yield of Occidental Petroleum Corp. stocks is 1.7%. Occidental Petroleum Corp. had an annual average earning growth of 13.6% over the past 10 years.

Added: Omnicare Inc. (OCR)

Steven Romick added to his holdings in Omnicare Inc. by 48.44%. His purchase prices were between $19.2 and $26.45, with an estimated average price of $22.38. The impact to his portfolio due to this purchase was 1.13%. His holdings were 3,325,000 shares as of 09/30/2010.

Omnicare, Inc., a Fortune five hundred company based in Covington, Kentucky, is a provider of pharmaceutical care for the elderly. Omnicare Inc. has a market cap of $2.74 billion; its shares were traded at around $23.22 with a P/E ratio of 10 and P/S ratio of 0.5. The dividend yield of Omnicare Inc. stocks is 0.6%. Omnicare Inc. had an annual average earning growth of 7.8% over the past 10 years.

Added: Walmart Stores Inc. (WMT)

Steven Romick added to his holdings in Walmart Stores Inc. by 12.87%. His purchase prices were between $48 and $54.08, with an estimated average price of $51.35. The impact to his portfolio due to this purchase was 0.45%. His holdings were 1,693,000 shares as of 09/30/2010.

Wal-Mart Stores, Inc. is the world's largest retailer. Walmart Stores Inc. has a market cap of $199.1 billion; its shares were traded at around $54.75 with a P/E ratio of 14 and P/S ratio of 0.5. The dividend yield of Walmart Stores Inc. stocks is 2.2%. Walmart Stores Inc. had an annual average earning growth of 11.1% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.

Added: Pfizer Inc (PFE)

Steven Romick added to his holdings in Pfizer Inc by 14.89%. His purchase prices were between $14.14 and $17.425, with an estimated average price of $15.94. The impact to his portfolio due to this purchase was 0.42%. His holdings were 4,320,000 shares as of 09/30/2010.

Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $134.16 billion; its shares were traded at around $16.69 with a P/E ratio of 7.5 and P/S ratio of 2.8. The dividend yield of Pfizer Inc stocks is 4.4%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.

Added: Vodafone Group Plc (VOD)

Steven Romick added to his holdings in Vodafone Group Plc by 11.46%. His purchase prices were between $20.97 and $25.77, with an estimated average price of $23.81. The impact to his portfolio due to this purchase was 0.4%. His holdings were 3,600,000 shares as of 09/30/2010.

Vodafone AirTouch Plc is the world's largest international mobile communications firm. Vodafone Group Plc has a market cap of $136.4 billion; its shares were traded at around $25.91 with and P/S ratio of 2. The dividend yield of Vodafone Group Plc stocks is 3.5%.

Added: Diamond Offshore Drilling Inc. (DO)

Steven Romick added to his holdings in Diamond Offshore Drilling Inc. by -9999%. His purchase prices were between $58.18 and $68.88, with an estimated average price of $62.57. The impact to his portfolio due to this purchase was -0.31%. His holdings were -105,000 shares as of 09/30/2010.

Diamond Offshore Drilling, Inc. engages principally in the contract drilling of offshore oil and gas wells. Diamond Offshore Drilling Inc. has a market cap of $9.28 billion; its shares were traded at around $66.75 with a P/E ratio of 9.4 and P/S ratio of 2.4. The dividend yield of Diamond Offshore Drilling Inc. stocks is 0.8%. Diamond Offshore Drilling Inc. had an annual average earning growth of 34.8% over the past 10 years.

Added: Ensco International Inc. (ESV)

Steven Romick added to his holdings in Ensco International Inc. by 4.17%. His purchase prices were between $40.2 and $46.64, with an estimated average price of $42.93. The impact to his portfolio due to this purchase was 0.31%. His holdings were 4,000,000 shares as of 09/30/2010.

Ensco International plc, formerly ENSCO International Incorporated, is a provider of offshore contract drilling services to the international oil and gas industry. Ensco International Inc. has a market cap of $7.03 billion; its shares were traded at around $49.21 with a P/E ratio of 12 and P/S ratio of 3.7. The dividend yield of Ensco International Inc. stocks is 1.6%. Ensco International Inc. had an annual average earning growth of 23.9% over the past 10 years. GuruFocus rated Ensco International Inc. the business predictability rank of 3.5-star.

Added: Apache Corp. (APA)

Steven Romick added to his holdings in Apache Corp. by 9.16%. His purchase prices were between $82.75 and $98.47, with an estimated average price of $91.95. The impact to his portfolio due to this purchase was 0.26%. His holdings were 715,000 shares as of 09/30/2010.

Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. Apache Corp. has a market cap of $41.67 billion; its shares were traded at around $114.38 with a P/E ratio of 13.2 and P/S ratio of 4.9. The dividend yield of Apache Corp. stocks is 0.6%. Apache Corp. had an annual average earning growth of 16.6% over the past 10 years. GuruFocus rated Apache Corp. the business predictability rank of 3-star.

Added: Treehouse Foods Inc. (THS)

Steven Romick added to his holdings in Treehouse Foods Inc. by 123.59%. His purchase prices were between $40.36 and $49.89, with an estimated average price of $44.77. The impact to his portfolio due to this purchase was -0.1%. His holdings were -91,000 shares as of 09/30/2010.

TreeHouse Foods is a food manufacturer servicing primarily the retail grocery and foodservice channels. Treehouse Foods Inc. has a market cap of $1.77 billion; its shares were traded at around $50.02 with a P/E ratio of 18.1 and P/S ratio of 1.2. Treehouse Foods Inc. had an annual average earning growth of 41.1% over the past 5 years.

Added: American Greetings Corp. (AM)

Steven Romick added to his holdings in American Greetings Corp. by 41.42%. His purchase prices were between $18.43 and $21.16, with an estimated average price of $19.92. The impact to his portfolio due to this purchase was -0.09%. His holdings were -379,000 shares as of 09/30/2010.

American Greetings Corporation is the world's largest publicly held creator, manufacturer and distributor of greeting cards and social expression products. American Greetings Corp. has a market cap of $854.8 million; its shares were traded at around $21.33 with a P/E ratio of 8.8 and P/S ratio of 0.5. The dividend yield of American Greetings Corp. stocks is 2.6%. American Greetings Corp. had an annual average earning growth of 8.3% over the past 5 years.

Added: Frontier Commun Cp (FTR)

Steven Romick added to his holdings in Frontier Commun Cp by -9999%. 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 -0.07%. His holdings were -188,431 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 $9.31 billion; its shares were traded at around $9.39 with a P/E ratio of 16.2 and P/S ratio of 4.4. The dividend yield of Frontier Commun Cp stocks is 7.9%. Frontier Commun Cp had an annual average earning growth of 2.9% over the past 10 years.

New Purchase: Anheuserbusch Inbev (BUD)

Steven Romick initiated holdings in Anheuserbusch Inbev. His purchase prices were between $48.86 and $59.48, with an estimated average price of $53.89. The impact to his portfolio due to this purchase was 3.49%. His holdings were 1,360,000 shares as of 09/30/2010.

Anheuser-Busch Companies is the holding company parent of Anheuser-BuschIncorporated and to a number of subsidiaries that conduct variousother business operations. Anheuserbusch Inbev has a market cap of $92.76 billion; its shares were traded at around $57.8 with a P/E ratio of 19.6 and P/S ratio of 2.6. The dividend yield of Anheuserbusch Inbev stocks is 0.7%.

New Purchase: Microsoft Corp. (MSFT)

Steven Romick initiated holdings in Microsoft Corp.. His purchase prices were between $23.27 and $26.33, with an estimated average price of $24.82. The impact to his portfolio due to this purchase was 2.17%. His holdings were 2,030,000 shares as of 09/30/2010.

Microsoft develops, manufactures, licenses, and supports a wide range of software products for a multitude of computing devices. Microsoft Corp. has a market cap of $232.69 billion; its shares were traded at around $26.89 with a P/E ratio of 11.6 and P/S ratio of 3.7. The dividend yield of Microsoft Corp. stocks is 2.3%. Microsoft Corp. had an annual average earning growth of 12.6% over the past 10 years. GuruFocus rated Microsoft Corp. the business predictability rank of 3-star.

New Purchase: Western Digital Corp. (WDC)

Steven Romick initiated holdings in Western Digital Corp.. His purchase prices were between $23.62 and $32.73, with an estimated average price of $27.32. The impact to his portfolio due to this purchase was 2.17%. His holdings were 1,750,000 shares as of 09/30/2010.

Western Digital Corp. designs, develops, manufactures and markets a broad line of hard drives featuring leading-edge technology. Western Digital Corp. has a market cap of $7.95 billion; its shares were traded at around $34.65 with a P/E ratio of 6.2 and P/S ratio of 0.8. Western Digital Corp. had an annual average earning growth of 40.2% over the past 5 years.

New Purchase: Johnson & Johnson (JNJ)

Steven Romick initiated holdings in Johnson & Johnson. His purchase prices were between $57.02 and $62.43, with an estimated average price of $59.49. The impact to his portfolio due to this purchase was 1.82%. His holdings were 673,000 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 $172.43 billion; its shares were traded at around $62.6 with a P/E ratio of 13.1 and P/S ratio of 2.8. The dividend yield of Johnson & Johnson stocks is 3.5%. 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.

New Purchase: Walgreen Company (WAG)

Steven Romick initiated holdings in Walgreen Company. His purchase prices were between $26.36 and $33.81, with an estimated average price of $28.76. The impact to his portfolio due to this purchase was 1.63%. His holdings were 1,114,500 shares as of 09/30/2010.

Walgreen Co. is a national retail pharmacy chain and considered the leader in innovative drugstore retailing. Walgreen Company has a market cap of $33.43 billion; its shares were traded at around $36.11 with a P/E ratio of 16.9 and P/S ratio of 0.5. The dividend yield of Walgreen Company stocks is 2%. Walgreen Company had an annual average earning growth of 11.7% over the past 10 years. GuruFocus rated Walgreen Company the business predictability rank of 4.5-star.

New Purchase: Transocean Inc. (RIG)

Steven Romick initiated holdings in Transocean Inc.. His purchase prices were between $45.26 and $65.13, with an estimated average price of $53.68. The impact to his portfolio due to this purchase was 1.55%. His holdings were 552,000 shares as of 09/30/2010.

Transocean LTD., formerly Transocean Inc., is an international provider of offshore contract drilling services for oil and gas wells. Transocean Inc. has a market cap of $22.63 billion; its shares were traded at around $70.93 with a P/E ratio of 9.8 and P/S ratio of 2. Transocean Inc. had an annual average earning growth of 23.2% over the past 10 years. GuruFocus rated Transocean Inc. the business predictability rank of 2-star.

New Purchase: Kraft Foods Inc. (KFT)

Steven Romick initiated holdings in Kraft Foods Inc.. His purchase prices were between $27.82 and $31.95, with an estimated average price of $29.94. The impact to his portfolio due to this purchase was 1.29%. His holdings were 955,000 shares as of 09/30/2010.

Kraft Foods, Inc. is the largest branded food and beverage company headquartered in the U. Kraft Foods Inc. has a market cap of $53.07 billion; its shares were traded at around $30.43 with a P/E ratio of 15 and P/S ratio of 1.3. The dividend yield of Kraft Foods Inc. stocks is 3.8%. Kraft Foods Inc. had an annual average earning growth of 1.7% over the past 5 years.

New Purchase: Cvs Caremark Corp. (CVS)

Steven Romick initiated holdings in Cvs Caremark Corp.. His purchase prices were between $26.98 and $31.54, with an estimated average price of $29.55. The impact to his portfolio due to this purchase was 0.83%. His holdings were 605,000 shares as of 09/30/2010.

CVS/Caremark is the nation's premier integrated pharmacy services provider, combining one of the nation's pharmaceutical services companies with the country's largest pharmacy chain. Cvs Caremark Corp. has a market cap of $43.36 billion; its shares were traded at around $31.98 with a P/E ratio of 11.8 and P/S ratio of 0.4. The dividend yield of Cvs Caremark Corp. stocks is 1.1%. Cvs Caremark Corp. had an annual average earning growth of 12.4% over the past 10 years. GuruFocus rated Cvs Caremark Corp. the business predictability rank of 4.5-star.

Reduced: Popular Inc. (BPOP)

Steven Romick reduced to his holdings in Popular Inc. by vered. His sale prices were between $2.45 and $2.95, with an estimated average price of $2.71. The impact to his portfolio due to this sale was less than 0.01%. Steven Romick still held 0 shares as of 09/30/2010.

Popular, Inc. is a diversified, publicly owned bank holding company. Popular Inc. has a market cap of $3.08 billion; its shares were traded at around $3.01 with and P/S ratio of 1.1.

Reduced: West Marine Inc. (WMAR)

Steven Romick reduced to his holdings in West Marine Inc. by vered. His sale prices were between $8.42 and $11.48, with an estimated average price of $10.06. The impact to his portfolio due to this sale was less than 0.01%. Steven Romick still held 0 shares as of 09/30/2010.

West Marine, Inc. is the largest specialty retailer of recreational and commercial boating supplies and apparel in the United States. West Marine Inc. has a market cap of $222.8 million; its shares were traded at around $9.9 with a P/E ratio of 10.8 and P/S ratio of 0.4.

Reduced: Guess ? Inc. (GES)

Steven Romick reduced to his holdings in Guess ? Inc. by vered. His sale prices were between $31.42 and $40.45, with an estimated average price of $36.17. The impact to his portfolio due to this sale was less than 0.01%. Steven Romick still held 0 shares as of 09/30/2010.

Guess, Inc. designs, markets, distributes and licenses one of the world's lifestyle collections of casual apparel, accessories and related consumer products. Guess ? Inc. has a market cap of $4.44 billion; its shares were traded at around $48.39 with a P/E ratio of 16.3 and P/S ratio of 2. The dividend yield of Guess ? Inc. stocks is 1.3%. Guess ? Inc. had an annual average earning growth of 44.4% over the past 5 years.

Reduced: Apollo Investment Corp. (AINV)

Steven Romick reduced to his holdings in Apollo Investment Corp. by vered. His sale prices were between $9.18 and $10.65, with an estimated average price of $9.93. The impact to his portfolio due to this sale was less than 0.01%. Steven Romick still held 0 shares as of 09/30/2010.

Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Apollo Investment Corp. has a market cap of $2.16 billion; its shares were traded at around $11.16 with a P/E ratio of 10.7 and P/S ratio of 6.4. The dividend yield of Apollo Investment Corp. stocks is 10.1%. Apollo Investment Corp. had an annual average earning growth of 21.7% over the past 5 years.

Reduced: Sally Beauty Holdings Inc. (SBH)

Steven Romick reduced to his holdings in Sally Beauty Holdings Inc. by vered. His sale prices were between $8.14 and $11.7, with an estimated average price of $9.45. The impact to his portfolio due to this sale was less than 0.01%. Steven Romick still held 0 shares as of 09/30/2010.

SALLY BEAUTY HOLDING INC is an international specialty retailer and distributor of professional beauty supplies with revenues of more than $2. Sally Beauty Holdings Inc. has a market cap of $2.5 billion; its shares were traded at around $13.69 with a P/E ratio of 17.6 and P/S ratio of 0.9. Sally Beauty Holdings Inc. had an annual average earning growth of 12% over the past 5 years.

Reduced: Vistaprint Ltd. (VPRT)

Steven Romick reduced to his holdings in Vistaprint Ltd. by vered. His sale prices were between $28.08 and $51.21, with an estimated average price of $38.01. The impact to his portfolio due to this sale was less than 0.01%. Steven Romick still held 0 shares as of 09/30/2010.

Vistaprint N.V. is an online provider of coordinated portfolios of marketing products and services to small businesses globally. Vistaprint Ltd. has a market cap of $1.85 billion; its shares were traded at around $42.06 with a P/E ratio of 29.2 and P/S ratio of 2.9. Vistaprint Ltd. had an annual average earning growth of 41.6% over the past 5 years.

Reduced: Lowe's Companies Inc. (LOW)

Steven Romick reduced to his holdings in Lowe's Companies Inc. by 39.52%. His sale prices were between $19.7 and $22.48, with an estimated average price of $20.9. The impact to his portfolio due to this sale was -0.25%. Steven Romick still held 396,400 shares as of 09/30/2010.

Lowe's Companies Inc. is a retailer of home improvement products in the world, with specific emphasis on retail do-it-yourself and commercial business customers. Lowe's Companies Inc. has a market cap of $34.97 billion; its shares were traded at around $24.92 with a P/E ratio of 18.2 and P/S ratio of 0.7. The dividend yield of Lowe's Companies Inc. stocks is 1.8%. Lowe's Companies Inc. had an annual average earning growth of 11.8% over the past 10 years.

Reduced: Apollo Group Inc. (APOL)

Steven Romick reduced to his holdings in Apollo Group Inc. by 50%. His sale prices were between $38.94 and $51.66, with an estimated average price of $45.25. The impact to his portfolio due to this sale was 0.03%. Steven Romick still held -11,800 shares as of 09/30/2010.

Apollo Group, Inc. has been providing higher education to working adults for over 25 years. Apollo Group Inc. has a market cap of $5.21 billion; its shares were traded at around $35.35 with a P/E ratio of 6.6 and P/S ratio of 1. Apollo Group Inc. had an annual average earning growth of 23.8% over the past 10 years. GuruFocus rated Apollo Group Inc. the business predictability rank of 4-star.

Sold Out: Cymer Inc. (CYMI)

Steven Romick sold out his holdings in Cymer Inc.. His sale prices were between $28.93 and $36.9, with an estimated average price of $32.26.

Cymer Inc. is one of the world's suppliers of excimer laser illumination sources, the essential light source for deep ultraviolet photolithography systems used in the manufacture of semiconductors. Cymer Inc. has a market cap of $1.2 billion; its shares were traded at around $40.57 with a P/E ratio of 17.3 and P/S ratio of 3.9.

Sold Out: Ares Capital Corp. (ARCC)

Steven Romick sold out his holdings in Ares Capital Corp.. His sale prices were between $12.44 and $15.89, with an estimated average price of $14.5.

ARES CAPITAL CORPORATION is a specialty finance company that is a closed-end, non-diversified management investment company. Ares Capital Corp. has a market cap of $3.25 billion; its shares were traded at around $16.9 with a P/E ratio of 13.2 and P/S ratio of 13.2. The dividend yield of Ares Capital Corp. stocks is 8.3%. Ares Capital Corp. had an annual average earning growth of 11.4% over the past 5 years.

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gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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