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Dreman Value Management Q1 Portfolio Update

gurufocus

Dreman Value Management was founded by legendary contrarian investor David Dreman. Dreman's investment philosophy is based on low P/E approach to stock selection. The philosophy at Dreman Value Management: "We invest in undervalued companies that exhibit strong fundamentals, above-market dividend yields and historic earnings growth, which our analysis indicates will persist. Our strategy is to own strong, fundamentally sound companies and to avoid speculative stocks or potential bankruptcies." They believe that the markets are not perfectly efficient, and that behavioral psychology influences investor actions and reactions.

This is the Q1 portfolio update of Dreman Value Management. As of 03/31/2011, Dreman Value Management owns 277 stocks with a total value of $5.3 billion. These are the details of the buys and sells that have the impact to portfolio of more than 0.1%.

This is the portfolio chart of David Dreman. 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.



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

This is the sector weightings of his portfolio:

Financials 20.7%
Industrials 17.1%
Technology 12%
Oil & Gas 11.6%
Consumer Goods 10.8%
Health Care 8.4%
Consumer Services 6.4%
Basic Materials 5.5%
Utilities 3.2%
Telecommunications 0.2%


These are the top 5 holdings of David Dreman

  1. ANADARKO PETROLEUM CORP. (APC) - 668,326 shares, 1.03% of the total portfolio. Shares reduced by 2.49%
  2. SUPERIOR ENERGY SERVICES INC. (SPN) - 1,278,875 shares, 0.99% of the total portfolio. Shares added by 2.17%
  3. HEALTHSPRING INC. (HS) - 1,393,703 shares, 0.98% of the total portfolio. Shares reduced by 0.76%
  4. W&T OFFSHORE INC. (WTI) - 2,206,613 shares, 0.95% of the total portfolio. Shares reduced by 13.45%
  5. DEVON ENERGY Corp. (DVN) - 551,145 shares, 0.95% of the total portfolio. Shares reduced by 2.4%


Added: Portland General Electric Company (POR)

David Dreman added to his holdings in Portland General Electric Company by 1121.86%. His purchase prices were between $21.7 and $23.94, with an estimated average price of $22.81. The impact to his portfolio due to this purchase was 0.75%. His holdings were 1,837,070 shares as of 03/31/2011.

Added: Jda Software Group Inc. (JDAS)

David Dreman added to his holdings in Jda Software Group Inc. by 931.77%. His purchase prices were between $27.11 and $30.91, with an estimated average price of $29.1. The impact to his portfolio due to this purchase was 0.66%. His holdings were 1,290,580 shares as of 03/31/2011.

Added: Omega Healthcare Investors Inc. (OHI)

David Dreman added to his holdings in Omega Healthcare Investors Inc. by 195.87%. His purchase prices were between $21.64 and $23.97, with an estimated average price of $22.43. The impact to his portfolio due to this purchase was 0.48%. His holdings were 1,731,220 shares as of 03/31/2011.

Added: Ncr Corp. (NCR)

David Dreman added to his holdings in Ncr Corp. by 81.23%. His purchase prices were between $15.37 and $19.81, with an estimated average price of $17.98. The impact to his portfolio due to this purchase was 0.39%. His holdings were 2,457,907 shares as of 03/31/2011.

Added: Cooper Tire & Rubber Co. (CTB)

David Dreman added to his holdings in Cooper Tire & Rubber Co. by 74.64%. His purchase prices were between $21.95 and $25.99, with an estimated average price of $23.84. The impact to his portfolio due to this purchase was 0.35%. His holdings were 1,707,218 shares as of 03/31/2011.

Added: Best Buy Company Inc. (BBY)

David Dreman added to his holdings in Best Buy Company Inc. by 724.81%. His purchase prices were between $29.08 and $35.91, with an estimated average price of $33.21. The impact to his portfolio due to this purchase was 0.35%. His holdings were 739,878 shares as of 03/31/2011.

Added: Briggs & Stratton Corp. (BGG)

David Dreman added to his holdings in Briggs & Stratton Corp. by 64.01%. His purchase prices were between $19.34 and $22.06, with an estimated average price of $20.37. The impact to his portfolio due to this purchase was 0.3%. His holdings were 1,783,214 shares as of 03/31/2011.

Added: Bancorpsouth Inc. (BXS)

David Dreman added to his holdings in Bancorpsouth Inc. by 64.03%. His purchase prices were between $14.84 and $16.67, with an estimated average price of $15.64. The impact to his portfolio due to this purchase was 0.27%. His holdings were 2,409,973 shares as of 03/31/2011.

Added: Minefinders Corp. Ltd. (MFN)

David Dreman added to his holdings in Minefinders Corp. Ltd. by 64.84%. His purchase prices were between $9.61 and $12.91, with an estimated average price of $10.82. The impact to his portfolio due to this purchase was 0.22%. His holdings were 2,248,193 shares as of 03/31/2011.

Added: Regis Corp. (RGS)

David Dreman added to his holdings in Regis Corp. by 29.79%. His purchase prices were between $16.52 and $18.26, with an estimated average price of $17.43. The impact to his portfolio due to this purchase was 0.18%. His holdings were 2,366,901 shares as of 03/31/2011.

Added: Washington Federal Inc. (WFSL)

David Dreman added to his holdings in Washington Federal Inc. by 29.74%. His purchase prices were between $16.69 and $18.515, with an estimated average price of $17.41. The impact to his portfolio due to this purchase was 0.16%. His holdings were 2,168,771 shares as of 03/31/2011.

Added: Diana Shipping Inc. (DSX)

David Dreman added to his holdings in Diana Shipping Inc. by 27.96%. His purchase prices were between $11.5 and $12.61, with an estimated average price of $12.14. The impact to his portfolio due to this purchase was 0.15%. His holdings were 3,067,647 shares as of 03/31/2011.

Added: Zimmer Holdings Inc. (ZMH)

David Dreman added to his holdings in Zimmer Holdings Inc. by 45.17%. His purchase prices were between $52.59 and $63.73, with an estimated average price of $59.21. The impact to his portfolio due to this purchase was 0.13%. His holdings were 379,407 shares as of 03/31/2011.

New Purchase: Pmc Sierra Inc. (PMCS)

David Dreman initiated holdings in Pmc Sierra Inc.. His purchase prices were between $7.36 and $9.16, with an estimated average price of $8.18. The impact to his portfolio due to this purchase was 0.75%. His holdings were 5,278,026 shares as of 03/31/2011.

New Purchase: Qlogic Corp. (QLGC)

David Dreman initiated holdings in Qlogic Corp.. His purchase prices were between $16.74 and $18.54, with an estimated average price of $17.66. The impact to his portfolio due to this purchase was 0.72%. His holdings were 2,053,756 shares as of 03/31/2011.

New Purchase: Brandywine Realty Trust (BDN)

David Dreman initiated holdings in Brandywine Realty Trust. His purchase prices were between $11.16 and $12.32, with an estimated average price of $11.82. The impact to his portfolio due to this purchase was 0.72%. His holdings were 3,152,143 shares as of 03/31/2011.

New Purchase: Aircastle Ltd. (AYR)

David Dreman initiated holdings in Aircastle Ltd.. His purchase prices were between $10.36 and $12.97, with an estimated average price of $11.49. The impact to his portfolio due to this purchase was 0.72%. His holdings were 3,168,258 shares as of 03/31/2011.

New Purchase: Curtisswright Corp. (CW)

David Dreman initiated holdings in Curtisswright Corp.. His purchase prices were between $32.75 and $38.26, with an estimated average price of $35.36. The impact to his portfolio due to this purchase was 0.7%. His holdings were 1,052,602 shares as of 03/31/2011.

New Purchase: American Axle & Manufact. (AXL)

David Dreman initiated holdings in American Axle & Manufact.. His purchase prices were between $12.38 and $16.15, with an estimated average price of $13.97. The impact to his portfolio due to this purchase was 0.67%. His holdings were 2,829,979 shares as of 03/31/2011.

New Purchase: Amkor Technology Inc. (AMKR)

David Dreman initiated holdings in Amkor Technology Inc.. His purchase prices were between $6.39 and $8.37, with an estimated average price of $7.47. The impact to his portfolio due to this purchase was 0.64%. His holdings were 5,061,023 shares as of 03/31/2011.

New Purchase: Wintrust Financial Corp. (WTFC)

David Dreman initiated holdings in Wintrust Financial Corp.. His purchase prices were between $31.67 and $36.87, with an estimated average price of $33.61. The impact to his portfolio due to this purchase was 0.59%. His holdings were 848,635 shares as of 03/31/2011.

New Purchase: Hancock Holding Company (HBHC)

David Dreman initiated holdings in Hancock Holding Company. His purchase prices were between $30.95 and $35.38, with an estimated average price of $33.23. The impact to his portfolio due to this purchase was 0.52%. His holdings were 849,602 shares as of 03/31/2011.

New Purchase: Cisco Systems Inc. (CSCO)

David Dreman initiated holdings in Cisco Systems Inc.. His purchase prices were between $17 and $22.05, with an estimated average price of $19.5. The impact to his portfolio due to this purchase was 0.27%. His holdings were 852,675 shares as of 03/31/2011.

New Purchase: Ultra Petroleum Corp. (UPL)

David Dreman initiated holdings in Ultra Petroleum Corp.. His purchase prices were between $42.42 and $49.92, with an estimated average price of $46.46. The impact to his portfolio due to this purchase was 0.14%. His holdings were 148,628 shares as of 03/31/2011.

New Purchase: Chiquita Brands International (CQB)

David Dreman initiated holdings in Chiquita Brands International. His purchase prices were between $13.71 and $17.19, with an estimated average price of $15.35. The impact to his portfolio due to this purchase was 0.14%. His holdings were 500,124 shares as of 03/31/2011.

Reduced: Raymond James Financial Inc. (RJF)

David Dreman reduced to his holdings in Raymond James Financial Inc. by 91.43%. His sale prices were between $32.37 and $39.46, with an estimated average price of $36.42. The impact to his portfolio due to this sale was -0.85%. David Dreman still held 104,600 shares as of 03/31/2011.

Reduced: Eaton Corp. (ETN)

David Dreman reduced to his holdings in Eaton Corp. by 51.57%. His sale prices were between $50.3 and $110.78, with an estimated average price of $54.13. The impact to his portfolio due to this sale was -0.76%. David Dreman still held 676,760 shares as of 03/31/2011.

Reduced: Jabil Circuit Inc. (JBL)

David Dreman reduced to his holdings in Jabil Circuit Inc. by 92.27%. His sale prices were between $18.59 and $22.98, with an estimated average price of $20.88. The impact to his portfolio due to this sale was -0.72%. David Dreman still held 165,475 shares as of 03/31/2011.

Reduced: Rpm International Inc. (RPM)

David Dreman reduced to his holdings in Rpm International Inc. by 87.24%. His sale prices were between $21.77 and $24.1, with an estimated average price of $22.97. The impact to his portfolio due to this sale was -0.62%. David Dreman still held 203,834 shares as of 03/31/2011.

Reduced: Tesoro Corp. (TSO)

David Dreman reduced to his holdings in Tesoro Corp. by 32.24%. His sale prices were between $17.98 and $27.76, with an estimated average price of $22.14. The impact to his portfolio due to this sale was -0.39%. David Dreman still held 1,606,622 shares as of 03/31/2011.

Reduced: The Jones Group Inc. (JNY)

David Dreman reduced to his holdings in The Jones Group Inc. by 37.37%. His sale prices were between $12.26 and $15.94, with an estimated average price of $13.38. The impact to his portfolio due to this sale was -0.26%. David Dreman still held 1,693,270 shares as of 03/31/2011.

Reduced: Hanesbrands Inc. (HBI)

David Dreman reduced to his holdings in Hanesbrands Inc. by 29.93%. His sale prices were between $22.46 and $27.49, with an estimated average price of $25.03. The impact to his portfolio due to this sale was -0.21%. David Dreman still held 945,733 shares as of 03/31/2011.

Reduced: Argo Group International Holdings Ltd. (AGII)

David Dreman reduced to his holdings in Argo Group International Holdings Ltd. by 28.29%. His sale prices were between $31.58 and $39, with an estimated average price of $35.59. The impact to his portfolio due to this sale was -0.18%. David Dreman still held 738,176 shares as of 03/31/2011.

Reduced: Net 1 Ueps Technologies Inc. (UEPS)

David Dreman reduced to his holdings in Net 1 Ueps Technologies Inc. by 59.03%. His sale prices were between $8.59 and $12.26, with an estimated average price of $10.54. The impact to his portfolio due to this sale was -0.16%. David Dreman still held 652,583 shares as of 03/31/2011.

Sold Out: Anixter International Inc (AXE)

David Dreman sold out his holdings in Anixter International Inc. His sale prices were between $59.73 and $73.24, with an estimated average price of $66.94.

Sold Out: Graftech International Ltd. (GTI)

David Dreman sold out his holdings in Graftech International Ltd.. His sale prices were between $19.4 and $23.69, with an estimated average price of $20.85.

Sold Out: Jack Henry & Associates Inc. (JKHY)

David Dreman sold out his holdings in Jack Henry & Associates Inc.. His sale prices were between $29.15 and $33.74, with an estimated average price of $31.07.

Sold Out: Frontline Ltd. (FRO)

David Dreman sold out his holdings in Frontline Ltd.. His sale prices were between $24.33 and $27.51, with an estimated average price of $25.92.

Sold Out: Endurance Specialty Holdings Ltd. (ENH)

David Dreman sold out his holdings in Endurance Specialty Holdings Ltd.. His sale prices were between $44.99 and $50.43, with an estimated average price of $47.15.

Sold Out: Vector Group Ltd. (VGR)

David Dreman sold out his holdings in Vector Group Ltd.. His sale prices were between $15.88 and $17.71, with an estimated average price of $16.78.

Sold Out: Verizon Communications Inc. (VZ)

David Dreman sold out his holdings in Verizon Communications Inc.. His sale prices were between $34.3 and $38.46, with an estimated average price of $36.17.

Sold Out: Walt Disney Company (DIS)

David Dreman sold out his holdings in Walt Disney Company. His sale prices were between $37.51 and $44.07, with an estimated average price of $41.35.

Sold Out: Joy Global Inc. (JOYG)

David Dreman sold out his holdings in Joy Global Inc.. His sale prices were between $85.09 and $100.03, with an estimated average price of $91.69.

Sold Out: Cash America International Inc. (CSH)

David Dreman sold out his holdings in Cash America International Inc.. His sale prices were between $36.93 and $45.76, with an estimated average price of $41.12.


Rating: 2.8/5 (13 votes)

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