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Martin Whitman Buys Tellabs Inc., Sells Nabors Industries Ltd., Brookfield Asset Management

September 23, 2011 | About:
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gurufocus

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Legendary value investor Martin Whitman reported his third quarter portfolio. Marty Whitman uses a bottom-up, value oriented approach to analysis. He seems to buy “cheap and safe” companies. Marty Whitman also writes great shareholder letter. If you missed his latest letter, please read it here.

Marty Whitman’s Third Avenue Value Fund is now co-managed by himself and Ian Lapey. He bought more Tellabs Inc., reduced Nabors Industries Ltd. during the 3-months ended 07/31/2011, according to the most recent filings. As of 07/31/2011, Third Avenue Value Fund owns 42 stocks with a total value of $4 billion. These are the details of the buys and sells.

This is the sector weightings of his portfolio:

Not Assigned 70.4%
Financials 15.3%
Consumer Goods 7.9%
Oil & Gas 5.2%
Technology 1%
Basic Materials 0.3%


These are the top 5 holdings of Martin Whitman

  1. CHEUY.PK - 42,692,000 shares, 16.2% of the total portfolio.
  2. HNLGY.PK - 97,788,054 shares, 15.4% of the total portfolio.
  3. POSCO ADS (PKX) - 3,500,000 shares, 9.5% of the total portfolio.
  4. WHLKF.PK - 57,254,500 shares, 6.1% of the total portfolio. Shares reduced by 2.78%
  5. IVSBF.PK - 10,030,709 shares, 5.3% of the total portfolio. Shares reduced by 0.48%
Added: Tellabs Inc. (TLAB)

Martin Whitman added to his holdings in Tellabs Inc. by 30.92%. His purchase prices were between $4 and $4.78, with an estimated average price of $4.4. The impact to his portfolio due to this purchase was 0.16%. His holdings were 6,557,299 shares as of 07/31/2011.

Tellabs helps the world's communications service providers build tomorrow's converged networks of voice, data and video. Tellabs Inc. has a market cap of $1.56 billion; its shares were traded at around $4.28 with a P/E ratio of 42.8 and P/S ratio of 1. The dividend yield of Tellabs Inc. stocks is 1.8%.

Reduced: Nabors Industries Ltd. (NBR)

Martin Whitman reduced to his holdings in Nabors Industries Ltd. by 77.31%. The impact to his portfolio due to this sale was -5.01%. Martin Whitman still held 2,190,000 shares as of 07/31/2011.

Nabors Industries, Inc. is one of the largest land drilling contractors. Nabors Industries Ltd. has a market cap of $4.13 billion; its shares were traded at around $14.35 with a P/E ratio of 11.5 and P/S ratio of 0.9. Nabors Industries Ltd. had an annual average earnings growth of 7% over the past 10 years.

Reduced: Brookfield Asset Management (BAM)

Martin Whitman reduced to his holdings in Brookfield Asset Management by 8%. The impact to his portfolio due to this sale was -0.43%. Martin Whitman still held 6,649,109 shares as of 07/31/2011.

Brookfield Asset Management Inc. is an asset manager. Brookfield Asset Management has a market cap of $16.25 billion; its shares were traded at around $26.15 with a P/E ratio of 12.5 and P/S ratio of 1.2. The dividend yield of Brookfield Asset Management stocks is 2.1%. Brookfield Asset Management had an annual average earnings growth of 27% over the past 10 years.

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

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gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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