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Michael Dell’s Hedge Fund Reports Second Quarter Portfolio: JRN, FF, BKEP, BPL, TYL, DIN, DPZ, SATS, MIC, WXS

gurufocus

gurufocus

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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.

According to Fortune magazine, since started in 1998, "MSD has a great track record". As of Oct. 2010, the firm has $12 billion under management.

Michael Dell buys Futurefuel Corp., Blueknight Energy Partners L.p. Common Units, Journal Communications Inc. Cl A, sells Buckeye Partners L.p., Tyler Technologies Inc. during the 3-months ended 06/30/2011, according to the most recent filings of his investment company, MSD Capital. As of 06/30/2011, MSD Capital owns 16 stocks with a total value of $974 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.



  • New Purchases: FF, BKEP,
  • Added Positions: JRN,
  • Reduced Positions: BPL, TYL,
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 34.6%
Industrials 22.9%
Technology 14%
Oil & Gas 12.5%
Not Assigned 7.4%
Utilities 5.3%
Financials 3.4%


These are the top 5 holdings of Michael Dell

  1. DineEquity (DIN) - 2,512,356 shares, 13.4864% of the total portfolio.
  2. Dominos Pizza Inc. (DPZ) - 4,528,329 shares, 11.7379% of the total portfolio. Shares reduced by 4.54%
  3. EchoStar Corp. (SATS) - 2,730,929 shares, 10.2172% of the total portfolio.
  4. Macquarie Infrastructure Co. Trust (MIC) - 3,531,800 shares, 10.0108% of the total portfolio.
  5. Wright Express Corp. (WXS) - 1,634,927 shares, 8.7428% of the total portfolio.


Added: Journal Communications Inc. Cl A (JRN)

Michael Dell added to his holdings in Journal Communications Inc. Cl A by 11.36%. His purchase prices were between $4.78 and $6, with an estimated average price of $5.21. The impact to his portfolio due to this purchase was 0.24%. His holdings were 4,375,609 shares as of 06/30/2011.

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. Cl A has a market cap of $209 million; its shares were traded at around $4.02 with a P/E ratio of 7.8 and P/S ratio of 0.6.

New Purchase: Futurefuel Corp. (FF)

Michael Dell initiated holdings in Futurefuel Corp.. His purchase prices were between $11 and $13.69, with an estimated average price of $12.67. The impact to his portfolio due to this purchase was 4.48%. His holdings were 3,600,000 shares as of 06/30/2011.

FutureFuel Chemical Company manufacturers diversified chemical products and biobased products comprised of biofuels and biobased specialty chemical products. Futurefuel Corp. has a market cap of $443.9 million; its shares were traded at around $10.62 . The dividend yield of Futurefuel Corp. stocks is 3.6%.

New Purchase: Blueknight Energy Partners L.p. Common Units (BKEP)

Michael Dell initiated holdings in Blueknight Energy Partners L.p. Common Units. His purchase prices were between $7.12 and $8.09, with an estimated average price of $7.68. The impact to his portfolio due to this purchase was 2.96%. His holdings were 3,576,944 shares as of 06/30/2011.

Blueknight Energy Partners, L.P., based in Tulsa, Oklahoma, owns and operates a diversified portfolio of complementary midstream energy assets. Blueknight Energy Partners L.p. Common Units has a market cap of $167.4 million; its shares were traded at around $8.04 with and P/S ratio of 1.1.

Reduced: Buckeye Partners L.p. (BPL)

Michael Dell reduced to his holdings in Buckeye Partners L.p. by 46.12%. His sale prices were between $60.35 and $65.06, with an estimated average price of $62.9. The impact to his portfolio due to this sale was -1.58%. Michael Dell still held 262,320 shares as of 06/30/2011.

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 $5.37 billion; its shares were traded at around $61.94 with a P/E ratio of 20.8 and P/S ratio of 1.7. The dividend yield of Buckeye Partners L.p. stocks is 6.5%. 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: Tyler Technologies Inc. (TYL)

Michael Dell reduced to his holdings in Tyler Technologies Inc. by 30.47%. His sale prices were between $23.26 and $27.01, with an estimated average price of $24.52. The impact to his portfolio due to this sale was -1.56%. Michael Dell still held 1,355,800 shares as of 06/30/2011.

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 $811.9 million; its shares were traded at around $24.66 with a P/E ratio of 34.3 and P/S ratio of 2.9. 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.

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gurufocus
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