Westport Fund has outperformed the market in eleven out of the last twelve years. Their 10 year cumulative return is 108%, while the market gained just 16.4%. This is the portfolio update for the first quarter of Westport.
Westport Asset Management looks for companies selling at a substantial discount to their intrinsic value. Their investment process begins with the identification of change in a company’s products, operations, and management. Once change is identified, the portfolio managers evaluate the company from a number of perspectives including what the market is willing to pay for stock of comparable companies or what a strategic buyer would pay for the entire company. They may sell a stock sell a position if a negative change in the company's fundamentals has occurred since or was missed in its initial analysis. They also reanalyze the opportunity when a stock reaches a pre-determined price objective. This may indicate a sale of the stock is appropriate.
Westport Asset Management buys Check Point Software Technologies Ltd., Msc Industrial Direct Co., Ross Stores Inc., Laboratory Corp. Of Amer., Willis Group Holdings Ltd., Forrest Oil Corp., Mastercard Inc., Synopsys Inc., W.w. Grainger Inc., Parametric Technology New, Varian Medical Systems Inc., Fmc Corp., Orientexpress Hotels Ltd during the 3-months ended 03/31/2011, according to the most recent filings of his investment company, Westport Asset Management. As of 03/31/2011, Westport Asset Management owns 65 stocks with a total value of $1.2 billion.
This is the portfolio chart of Westport Asset Management. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Westport Asset Management
New Purchase: Msc Industrial Direct Co. (MSM, Financial)
Westport Asset Management initiated holdings in Msc Industrial Direct Co.. His purchase prices were between $58.57 and $67.16, with an estimated average price of $62.55. The impact to his portfolio due to this purchase was 0.85%. His holdings were 152,500 shares as of 03/31/2011.
MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. Msc Industrial Direct Co. has a market cap of $4.49 billion; its shares were traded at around $70.62 with a P/E ratio of 24.02 and P/S ratio of 2.66. The dividend yield of Msc Industrial Direct Co. stocks is 1.25%. Msc Industrial Direct Co. had an annual average earnings growth of 19.2% over the past 10 years. GuruFocus rated Msc Industrial Direct Co. the business predictability rank of 3.5-star.
New Purchase: Ross Stores Inc. (ROST, Financial)
Westport Asset Management initiated holdings in Ross Stores Inc.. His purchase prices were between $62.2 and $72.41, with an estimated average price of $68.25. The impact to his portfolio due to this purchase was 0.66%. His holdings were 115,000 shares as of 03/31/2011.
Ross Stores, Inc. operates a chain of off-price retail apparel and home accessories stores, which target value conscious men and women between the ages of 25 and 54 in middle-to-upper middle income households. Ross Stores Inc. has a market cap of $9.19 billion; its shares were traded at around $78.19 with a P/E ratio of 16.92 and P/S ratio of 1.17. The dividend yield of Ross Stores Inc. stocks is 1.13%. Ross Stores Inc. had an annual average earnings growth of 15% over the past 10 years. GuruFocus rated Ross Stores Inc. the business predictability rank of 3-star.
New Purchase: Mastercard Inc. (MA, Financial)
Westport Asset Management initiated holdings in Mastercard Inc.. His purchase prices were between $220.85 and $254.96, with an estimated average price of $242.76. The impact to his portfolio due to this purchase was 0.31%. His holdings were 15,000 shares as of 03/31/2011.
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 $35.82 billion; its shares were traded at around $274.25 with a P/E ratio of 18.43 and P/S ratio of 6.47. The dividend yield of Mastercard Inc. stocks is 0.22%.
Added: Check Point Software Technologies Ltd. (CHKP, Financial)
Westport Asset Management added to his holdings in Check Point Software Technologies Ltd. by 874.11%. His purchase prices were between $44.55 and $51.6, with an estimated average price of $47.86. The impact to his portfolio due to this purchase was 0.91%. His holdings were 243,528 shares as of 03/31/2011.
Check Point Software Technologies Ltd. is a provider of policy-based enterprise security and traffic management solutions. Check Point Software Technologies Ltd. has a market cap of $11.44 billion; its shares were traded at around $54.89 with a P/E ratio of 22.78 and P/S ratio of 10.42. Check Point Software Technologies Ltd. had an annual average earnings growth of 8% over the past 10 years.
Added: Laboratory Corp. Of Amer. (LH, Financial)
Westport Asset Management added to his holdings in Laboratory Corp. Of Amer. by 62.5%. His purchase prices were between $86.74 and $92.55, with an estimated average price of $89.65. The impact to his portfolio due to this purchase was 0.37%. His holdings were 130,000 shares as of 03/31/2011.
Laboratory Corporation of America Holdings, is one of the largest independent clinical laboratory company's in the United States. Laboratory Corp. Of Amer. has a market cap of $9.76 billion; its shares were traded at around $97.59 with a P/E ratio of 16.29 and P/S ratio of 1.95. Laboratory Corp. Of Amer. had an annual average earnings growth of 15.8% over the past 10 years. GuruFocus rated Laboratory Corp. Of Amer. the business predictability rank of 5-star.
Added: Willis Group Holdings Ltd. (WSH, Financial)
Westport Asset Management added to his holdings in Willis Group Holdings Ltd. by 6.62%. His purchase prices were between $34.57 and $39.98, with an estimated average price of $37.66. The impact to his portfolio due to this purchase was 0.33%. His holdings were 1,610,900 shares as of 03/31/2011.
Willis Group is a global insurance broker providing specialized risk management, advisory, and other services to a broad range of corporate andinstitutional clients, with particular expertise in the construction, aerospace, marine and energy industries. Willis Group Holdings Ltd. has a market cap of $6.97 billion; its shares were traded at around $40.68 with a P/E ratio of 14.74 and P/S ratio of 2.09. The dividend yield of Willis Group Holdings Ltd. stocks is 2.56%. Willis Group Holdings Ltd. had an annual average earnings growth of 8.3% over the past 10 years. GuruFocus rated Willis Group Holdings Ltd. the business predictability rank of 4-star.
Added: Forrest Oil Corp. (FST, Financial)
Westport Asset Management added to his holdings in Forrest Oil Corp. by 9.73%. His purchase prices were between $33.32 and $39.71, with an estimated average price of $36.83. The impact to his portfolio due to this purchase was 0.31%. His holdings were 1,128,058 shares as of 03/31/2011.
Forest Oil Corporation is engaged in the acquisition, exploration, development, production and marketing of natural gas and crude oil in North America. Forrest Oil Corp. has a market cap of $3.43 billion; its shares were traded at around $30.22 with a P/E ratio of 18.54 and P/S ratio of 4.02.
Added: Synopsys Inc. (SNPS)
Westport Asset Management added to his holdings in Synopsys Inc. by 7.53%. His purchase prices were between $26.23 and $29.03, with an estimated average price of $27.38. The impact to his portfolio due to this purchase was 0.25%. His holdings were 1,606,392 shares as of 03/31/2011.
Synopsys, Inc. is one of the suppliers of electronic design automation software to the global electronics industry. Synopsys Inc. has a market cap of $4.05 billion; its shares were traded at around $26.84 with a P/E ratio of 21.47 and P/S ratio of 2.93. Synopsys Inc. had an annual average earnings growth of 15.1% over the past 10 years. GuruFocus rated Synopsys Inc. the business predictability rank of 2-star.
Added: W.w. Grainger Inc. (GWW)
Westport Asset Management added to his holdings in W.w. Grainger Inc. by 48.16%. His purchase prices were between $130.07 and $139.54, with an estimated average price of $134.9. The impact to his portfolio due to this purchase was 0.23%. His holdings were 65,000 shares as of 03/31/2011.
Grainger offers a breadth of MRO solutions by combining products, services, and information. W.w. Grainger Inc. has a market cap of $10.27 billion; its shares were traded at around $147.91 with a P/E ratio of 19.44 and P/S ratio of 1.43. The dividend yield of W.w. Grainger Inc. stocks is 1.78%. W.w. Grainger Inc. had an annual average earnings growth of 13.9% over the past 10 years. GuruFocus rated W.w. Grainger Inc. the business predictability rank of 3.5-star.
Added: Parametric Technology New (PMTC)
Westport Asset Management added to his holdings in Parametric Technology New by 10.18%. His purchase prices were between $21.06 and $24.42, with an estimated average price of $22.97. The impact to his portfolio due to this purchase was 0.16%. His holdings were 920,304 shares as of 03/31/2011.
Parametric Technology Corporation develops, markets and supports collaborative product commerce software solutions that help companies manage the product development process in order to better shape innovation and achieve sustained competitive advantage. Parametric Technology New has a market cap of $2.68 billion; its shares were traded at around $22.73 with a P/E ratio of 33.43 and P/S ratio of 2.66.
Added: Varian Medical Systems Inc. (VAR)
Westport Asset Management added to his holdings in Varian Medical Systems Inc. by 14.29%. His purchase prices were between $64.6 and $71.96, with an estimated average price of $68.65. The impact to his portfolio due to this purchase was 0.14%. His holdings were 200,000 shares as of 03/31/2011.
Varian Medical Systems, Inc., of Palo Alto, California is the world's supplier of equipment and software for treating cancer. Varian Medical Systems Inc. has a market cap of $8.43 billion; its shares were traded at around $70.24 with a P/E ratio of 21.48 and P/S ratio of 3.58. Varian Medical Systems Inc. had an annual average earnings growth of 19.5% over the past 10 years. GuruFocus rated Varian Medical Systems Inc. the business predictability rank of 4.5-star.
Added: Fmc Corp. (FMC)
Westport Asset Management added to his holdings in Fmc Corp. by 11.51%. His purchase prices were between $75.01 and $84.69, with an estimated average price of $78.53. The impact to his portfolio due to this purchase was 0.13%. His holdings were 180,000 shares as of 03/31/2011.
FMC Corporation is one of the world's producers of machinery and chemicals for industry and agriculture. Fmc Corp. has a market cap of $6.06 billion; its shares were traded at around $84.71 with a P/E ratio of 17.01 and P/S ratio of 1.95. The dividend yield of Fmc Corp. stocks is 0.71%. Fmc Corp. had an annual average earnings growth of 9.5% over the past 10 years.
Added: Orientexpress Hotels Ltd. (OEH)
Westport Asset Management added to his holdings in Orientexpress Hotels Ltd. by 21.59%. His purchase prices were between $11.82 and $14.06, with an estimated average price of $12.76. The impact to his portfolio due to this purchase was 0.12%. His holdings were 704,100 shares as of 03/31/2011.
Orient-Express Hotels is a hotel and leisure group focused on the luxury end of the leisure market. Orientexpress Hotels Ltd. has a market cap of $1.21 billion; its shares were traded at around $11.82 with and P/S ratio of 2.1.
Reduced: Devry Inc. (DV, Financial)
Westport Asset Management reduced to his holdings in Devry Inc. by 6.27%. The impact to his portfolio due to this sale was -0.36%. Westport Asset Management still held 1,195,000 shares as of 03/31/2011.
DeVry Inc. owns and operates DeVry Institutes of Technology, DenverTechnical College, Keller Graduate School of Management and Becker Conviser CPA Review. Devry Inc. has a market cap of $3.6 billion; its shares were traded at around $51.99 with a P/E ratio of 11.33 and P/S ratio of 1.88. The dividend yield of Devry Inc. stocks is 0.46%. Devry Inc. had an annual average earnings growth of 13.9% over the past 10 years.
Westport Asset Management looks for companies selling at a substantial discount to their intrinsic value. Their investment process begins with the identification of change in a company’s products, operations, and management. Once change is identified, the portfolio managers evaluate the company from a number of perspectives including what the market is willing to pay for stock of comparable companies or what a strategic buyer would pay for the entire company. They may sell a stock sell a position if a negative change in the company's fundamentals has occurred since or was missed in its initial analysis. They also reanalyze the opportunity when a stock reaches a pre-determined price objective. This may indicate a sale of the stock is appropriate.
Westport Asset Management buys Check Point Software Technologies Ltd., Msc Industrial Direct Co., Ross Stores Inc., Laboratory Corp. Of Amer., Willis Group Holdings Ltd., Forrest Oil Corp., Mastercard Inc., Synopsys Inc., W.w. Grainger Inc., Parametric Technology New, Varian Medical Systems Inc., Fmc Corp., Orientexpress Hotels Ltd during the 3-months ended 03/31/2011, according to the most recent filings of his investment company, Westport Asset Management. As of 03/31/2011, Westport Asset Management owns 65 stocks with a total value of $1.2 billion.
This is the portfolio chart of Westport Asset Management. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.
- New Purchases: MSM, ROST, MA,
- Added Positions: CHKP, LH, WSH, FST, SNPS, GWW, PMTC, VAR, FMC, OEH,
- Reduced Positions: DV,
This is the sector weightings of his portfolio:
| Industrials | 23.1% |
| Consumer Services | 23.1% |
| Health Care | 15.3% |
| Technology | 12.1% |
| Oil & Gas | 10.7% |
| Financials | 8.8% |
| Basic Materials | 4.1% |
| Consumer Goods | 2.3% |
| Utilities | 0.5% |
These are the top 5 holdings of Westport Asset Management
- PRECISION CASTPARTS CORP. (PCP) - 716,134 shares, 8.53% of the total portfolio. Shares reduced by 4.02%
- UNIVERSAL HEALTH SERVICES INC. (UHS) - 1,963,100 shares, 7.85% of the total portfolio. Shares reduced by 4.08%
- DEVRY INC. (DV) - 1,195,000 shares, 5.33% of the total portfolio. Shares reduced by 6.27%
- WILLIS GROUP HOLDINGS Ltd. (WSH) - 1,610,900 shares, 5.26% of the total portfolio. Shares added by 6.62%
- BIG LOTS INC. (BIG) - 1,313,056 shares, 4.62% of the total portfolio.
New Purchase: Msc Industrial Direct Co. (MSM, Financial)
Westport Asset Management initiated holdings in Msc Industrial Direct Co.. His purchase prices were between $58.57 and $67.16, with an estimated average price of $62.55. The impact to his portfolio due to this purchase was 0.85%. His holdings were 152,500 shares as of 03/31/2011.
MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. Msc Industrial Direct Co. has a market cap of $4.49 billion; its shares were traded at around $70.62 with a P/E ratio of 24.02 and P/S ratio of 2.66. The dividend yield of Msc Industrial Direct Co. stocks is 1.25%. Msc Industrial Direct Co. had an annual average earnings growth of 19.2% over the past 10 years. GuruFocus rated Msc Industrial Direct Co. the business predictability rank of 3.5-star.
New Purchase: Ross Stores Inc. (ROST, Financial)
Westport Asset Management initiated holdings in Ross Stores Inc.. His purchase prices were between $62.2 and $72.41, with an estimated average price of $68.25. The impact to his portfolio due to this purchase was 0.66%. His holdings were 115,000 shares as of 03/31/2011.
Ross Stores, Inc. operates a chain of off-price retail apparel and home accessories stores, which target value conscious men and women between the ages of 25 and 54 in middle-to-upper middle income households. Ross Stores Inc. has a market cap of $9.19 billion; its shares were traded at around $78.19 with a P/E ratio of 16.92 and P/S ratio of 1.17. The dividend yield of Ross Stores Inc. stocks is 1.13%. Ross Stores Inc. had an annual average earnings growth of 15% over the past 10 years. GuruFocus rated Ross Stores Inc. the business predictability rank of 3-star.
New Purchase: Mastercard Inc. (MA, Financial)
Westport Asset Management initiated holdings in Mastercard Inc.. His purchase prices were between $220.85 and $254.96, with an estimated average price of $242.76. The impact to his portfolio due to this purchase was 0.31%. His holdings were 15,000 shares as of 03/31/2011.
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 $35.82 billion; its shares were traded at around $274.25 with a P/E ratio of 18.43 and P/S ratio of 6.47. The dividend yield of Mastercard Inc. stocks is 0.22%.
Added: Check Point Software Technologies Ltd. (CHKP, Financial)
Westport Asset Management added to his holdings in Check Point Software Technologies Ltd. by 874.11%. His purchase prices were between $44.55 and $51.6, with an estimated average price of $47.86. The impact to his portfolio due to this purchase was 0.91%. His holdings were 243,528 shares as of 03/31/2011.
Check Point Software Technologies Ltd. is a provider of policy-based enterprise security and traffic management solutions. Check Point Software Technologies Ltd. has a market cap of $11.44 billion; its shares were traded at around $54.89 with a P/E ratio of 22.78 and P/S ratio of 10.42. Check Point Software Technologies Ltd. had an annual average earnings growth of 8% over the past 10 years.
Added: Laboratory Corp. Of Amer. (LH, Financial)
Westport Asset Management added to his holdings in Laboratory Corp. Of Amer. by 62.5%. His purchase prices were between $86.74 and $92.55, with an estimated average price of $89.65. The impact to his portfolio due to this purchase was 0.37%. His holdings were 130,000 shares as of 03/31/2011.
Laboratory Corporation of America Holdings, is one of the largest independent clinical laboratory company's in the United States. Laboratory Corp. Of Amer. has a market cap of $9.76 billion; its shares were traded at around $97.59 with a P/E ratio of 16.29 and P/S ratio of 1.95. Laboratory Corp. Of Amer. had an annual average earnings growth of 15.8% over the past 10 years. GuruFocus rated Laboratory Corp. Of Amer. the business predictability rank of 5-star.
Added: Willis Group Holdings Ltd. (WSH, Financial)
Westport Asset Management added to his holdings in Willis Group Holdings Ltd. by 6.62%. His purchase prices were between $34.57 and $39.98, with an estimated average price of $37.66. The impact to his portfolio due to this purchase was 0.33%. His holdings were 1,610,900 shares as of 03/31/2011.
Willis Group is a global insurance broker providing specialized risk management, advisory, and other services to a broad range of corporate andinstitutional clients, with particular expertise in the construction, aerospace, marine and energy industries. Willis Group Holdings Ltd. has a market cap of $6.97 billion; its shares were traded at around $40.68 with a P/E ratio of 14.74 and P/S ratio of 2.09. The dividend yield of Willis Group Holdings Ltd. stocks is 2.56%. Willis Group Holdings Ltd. had an annual average earnings growth of 8.3% over the past 10 years. GuruFocus rated Willis Group Holdings Ltd. the business predictability rank of 4-star.
Added: Forrest Oil Corp. (FST, Financial)
Westport Asset Management added to his holdings in Forrest Oil Corp. by 9.73%. His purchase prices were between $33.32 and $39.71, with an estimated average price of $36.83. The impact to his portfolio due to this purchase was 0.31%. His holdings were 1,128,058 shares as of 03/31/2011.
Forest Oil Corporation is engaged in the acquisition, exploration, development, production and marketing of natural gas and crude oil in North America. Forrest Oil Corp. has a market cap of $3.43 billion; its shares were traded at around $30.22 with a P/E ratio of 18.54 and P/S ratio of 4.02.
Added: Synopsys Inc. (SNPS)
Westport Asset Management added to his holdings in Synopsys Inc. by 7.53%. His purchase prices were between $26.23 and $29.03, with an estimated average price of $27.38. The impact to his portfolio due to this purchase was 0.25%. His holdings were 1,606,392 shares as of 03/31/2011.
Synopsys, Inc. is one of the suppliers of electronic design automation software to the global electronics industry. Synopsys Inc. has a market cap of $4.05 billion; its shares were traded at around $26.84 with a P/E ratio of 21.47 and P/S ratio of 2.93. Synopsys Inc. had an annual average earnings growth of 15.1% over the past 10 years. GuruFocus rated Synopsys Inc. the business predictability rank of 2-star.
Added: W.w. Grainger Inc. (GWW)
Westport Asset Management added to his holdings in W.w. Grainger Inc. by 48.16%. His purchase prices were between $130.07 and $139.54, with an estimated average price of $134.9. The impact to his portfolio due to this purchase was 0.23%. His holdings were 65,000 shares as of 03/31/2011.
Grainger offers a breadth of MRO solutions by combining products, services, and information. W.w. Grainger Inc. has a market cap of $10.27 billion; its shares were traded at around $147.91 with a P/E ratio of 19.44 and P/S ratio of 1.43. The dividend yield of W.w. Grainger Inc. stocks is 1.78%. W.w. Grainger Inc. had an annual average earnings growth of 13.9% over the past 10 years. GuruFocus rated W.w. Grainger Inc. the business predictability rank of 3.5-star.
Added: Parametric Technology New (PMTC)
Westport Asset Management added to his holdings in Parametric Technology New by 10.18%. His purchase prices were between $21.06 and $24.42, with an estimated average price of $22.97. The impact to his portfolio due to this purchase was 0.16%. His holdings were 920,304 shares as of 03/31/2011.
Parametric Technology Corporation develops, markets and supports collaborative product commerce software solutions that help companies manage the product development process in order to better shape innovation and achieve sustained competitive advantage. Parametric Technology New has a market cap of $2.68 billion; its shares were traded at around $22.73 with a P/E ratio of 33.43 and P/S ratio of 2.66.
Added: Varian Medical Systems Inc. (VAR)
Westport Asset Management added to his holdings in Varian Medical Systems Inc. by 14.29%. His purchase prices were between $64.6 and $71.96, with an estimated average price of $68.65. The impact to his portfolio due to this purchase was 0.14%. His holdings were 200,000 shares as of 03/31/2011.
Varian Medical Systems, Inc., of Palo Alto, California is the world's supplier of equipment and software for treating cancer. Varian Medical Systems Inc. has a market cap of $8.43 billion; its shares were traded at around $70.24 with a P/E ratio of 21.48 and P/S ratio of 3.58. Varian Medical Systems Inc. had an annual average earnings growth of 19.5% over the past 10 years. GuruFocus rated Varian Medical Systems Inc. the business predictability rank of 4.5-star.
Added: Fmc Corp. (FMC)
Westport Asset Management added to his holdings in Fmc Corp. by 11.51%. His purchase prices were between $75.01 and $84.69, with an estimated average price of $78.53. The impact to his portfolio due to this purchase was 0.13%. His holdings were 180,000 shares as of 03/31/2011.
FMC Corporation is one of the world's producers of machinery and chemicals for industry and agriculture. Fmc Corp. has a market cap of $6.06 billion; its shares were traded at around $84.71 with a P/E ratio of 17.01 and P/S ratio of 1.95. The dividend yield of Fmc Corp. stocks is 0.71%. Fmc Corp. had an annual average earnings growth of 9.5% over the past 10 years.
Added: Orientexpress Hotels Ltd. (OEH)
Westport Asset Management added to his holdings in Orientexpress Hotels Ltd. by 21.59%. His purchase prices were between $11.82 and $14.06, with an estimated average price of $12.76. The impact to his portfolio due to this purchase was 0.12%. His holdings were 704,100 shares as of 03/31/2011.
Orient-Express Hotels is a hotel and leisure group focused on the luxury end of the leisure market. Orientexpress Hotels Ltd. has a market cap of $1.21 billion; its shares were traded at around $11.82 with and P/S ratio of 2.1.
Reduced: Devry Inc. (DV, Financial)
Westport Asset Management reduced to his holdings in Devry Inc. by 6.27%. The impact to his portfolio due to this sale was -0.36%. Westport Asset Management still held 1,195,000 shares as of 03/31/2011.
DeVry Inc. owns and operates DeVry Institutes of Technology, DenverTechnical College, Keller Graduate School of Management and Becker Conviser CPA Review. Devry Inc. has a market cap of $3.6 billion; its shares were traded at around $51.99 with a P/E ratio of 11.33 and P/S ratio of 1.88. The dividend yield of Devry Inc. stocks is 0.46%. Devry Inc. had an annual average earnings growth of 13.9% over the past 10 years.
