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Michael Dell’s Hedge Fund MSD Capital Reports Q1 Portfolio

Many people don’t know that Dell also has a hedge fund, MSD Capital, which was set up in 1998 to manage the money of Dell and his family. MSD Capital’s track record has been exceptional, and GuruFocus has listed him as a guru because of the hedge fund. While Michael Dell is not involved in the day-to-day operations of the hedge fund, clearly he approves of the philosophy and approach of the managers. As of 03/31/2011, MSD Capital owns 14 stocks with a total value of $905 million. These are the details of the buys and sells.

This is the portfolio chart of Michael Dell. 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 Michael Dell's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Michael+Dell

This is the sector weightings of his portfolio:

Consumer Services 35%
Industrials 23.1%
Technology 16.5%
Oil & Gas 15.3%
Utilities 5.5%
Financials 4.5%


These are the top 5 holdings of Michael Dell

  1. DINEEQUITY INC. (DIN) - 2,512,356 shares, 15.25% of the total portfolio.
  2. EchoStar Corp. (SATS) - 2,730,929 shares, 11.42% of the total portfolio. Shares reduced by 25.61%
  3. DOMINO'S PIZZA INC. (DPZ) - 4,743,829 shares, 9.66% of the total portfolio.
  4. WRIGHT EXPRESS Corp. (WXS) - 1,634,927 shares, 9.36% of the total portfolio. Shares reduced by 5.89%
  5. MACQUARIE INFRASTRUCTURE COMPANY LLC (MIC) - 3,531,800 shares, 9.31% of the total portfolio.


Added: Journal Communications Inc. (JRN)

Michael Dell added to his holdings in Journal Communications Inc. by 4.18%. His purchase prices were between $4.75 and $6.15, with an estimated average price of $5.34. The impact to his portfolio due to this purchase was 0.1%. His holdings were 3,929,409 shares as of 03/31/2011.

Journal Communications is a diversified media and communications company with operations in newspaper publishing, radio and television broadcasting, telecommunications and printing services. Journal Communications Inc. has a market cap of $268.1 million; its shares were traded at around $4.85 with a P/E ratio of 8.8 and P/S ratio of 0.7.

New Purchase: Atlas Pipeline Partners (APL)

Michael Dell initiated holdings in Atlas Pipeline Partners. His purchase prices were between $23.76 and $34.12, with an estimated average price of $27.97. The impact to his portfolio due to this purchase was 3.81%. His holdings were 1,000,000 shares as of 03/31/2011.

Atlas Pipeline Partners, L.P. and its subsidiaries engage in the transmission, gathering, and processing of natural gas in the Mid-Continent United States and the Appalachian Basin. Atlas Pipeline Partners has a market cap of $1.83 billion; its shares were traded at around $34.34 with a P/E ratio of 42.4 and P/S ratio of 1.9. The dividend yield of Atlas Pipeline Partners stocks is 4.7%.

New Purchase: Buckeye Partners L.p. (BPL)

Michael Dell initiated holdings in Buckeye Partners L.p.. His purchase prices were between $62.47 and $68.52, with an estimated average price of $65.34. The impact to his portfolio due to this purchase was 3.42%. His holdings were 486,847 shares as of 03/31/2011.

Buckeye Partners, L.P. conducts all its operations through subsidiary entities including Buckeye Pipe Line Company, L. Buckeye Partners L.p. has a market cap of $4.87 billion; its shares were traded at around $60.64 with a P/E ratio of 19.2 and P/S ratio of 1.6. The dividend yield of Buckeye Partners L.p. stocks is 6.6%. Buckeye Partners L.p. had an annual average earnings growth of 4.3% over the past 10 years. GuruFocus rated Buckeye Partners L.p. the business predictability rank of 2.5-star.

Reduced: Energy Xxi Ltd. (EXXI)

Michael Dell reduced to his holdings in Energy Xxi Ltd. by 56.76%. His sale prices were between $26.62 and $34.48, with an estimated average price of $30.72. The impact to his portfolio due to this sale was -10.63%. Michael Dell still held 2,150,428 shares as of 03/31/2011.

Energy Xxi Ltd. has a market cap of $2.41 billion; its shares were traded at around $32.48 with a P/E ratio of 50.8 and P/S ratio of 4.8.

Reduced: Echostar Corp. (SATS)

Michael Dell reduced to his holdings in Echostar Corp. by 25.61%. His sale prices were between $24.97 and $37.5, with an estimated average price of $31.29. The impact to his portfolio due to this sale was -3.93%. Michael Dell still held 2,730,929 shares as of 03/31/2011.

ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses, a digital set-top box business and a fixed satellite services business. Echostar Corp. has a market cap of $2.79 billion; its shares were traded at around $32.41 with and P/S ratio of 1.2.

Reduced: Tyler Technologies Inc. (TYL)

Michael Dell reduced to his holdings in Tyler Technologies Inc. by 22.85%. His sale prices were between $20.33 and $23.65, with an estimated average price of $21.67. The impact to his portfolio due to this sale was -1.51%. Michael Dell still held 1,950,000 shares as of 03/31/2011.

Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. Tyler Technologies Inc. has a market cap of $774 million; its shares were traded at around $24.2 with a P/E ratio of 32.7 and P/S ratio of 2.7. Tyler Technologies Inc. had an annual average earnings growth of 22.3% over the past 10 years. GuruFocus rated Tyler Technologies Inc. the business predictability rank of 4.5-star.

Sold Out: Transatlantic Petroleum Ltd. (TAT)

Michael Dell sold out his holdings in Transatlantic Petroleum Ltd.. His sale prices were between $2.85 and $3.45, with an estimated average price of $3.13.

TransAtlantic Petroleum Ltd. is a vertically integrated, international oil and gas company. Transatlantic Petroleum Ltd. has a market cap of $719.7 million; its shares were traded at around $2.14 with and P/S ratio of 24.6.


Rating: 2.9/5 (14 votes)

Comments

ElmerJFudd
ElmerJFudd - 3 years ago
Added two pipeline companies and reduced an energy company. I wonder if that means anything?

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