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FPA Capital Fund Q3 Portfolio: Buys AGP, FII, VECO, OSK, NFX,

October 12, 2011 | About:
gurufocus

gurufocus

350 followers
The third quarter portfolio of FPA Capital Fund is out. The fund bought into three new positions and added to two existing ones. Before the market crash of 2008-2009, the fund had a buy freeze and did not buy any new stocks. Now it seems that they are seeing a lot of opportunities.

The fund has been managed by Robert Rodriguez, who now takes a back seat. It buys Amerigroup Corp., Federated Investors Inc., Oshkosh, Newfield Exploration Co., Veeco Instruments Inc., sells Baker Hughes Inc. during the 3-months ended 09/30/2011, according to the most recent filings of his investment company, FPA Capital. As of 09/30/2011, FPA Capital owns 20 stocks with a total value of $714 million. These are the details of the buys and sells.

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

This is the sector weightings of his portfolio:

Oil & Gas 48.3%
Industrials 27.9%
Consumer Services 10%
Technology 8.4%
Health Care 2.4%
Financials 1.7%
Basic Materials 1.3%


These are the top 5 holdings of Robert Rodriguez

  1. Rowan Cos. Inc. (RDC) - 2,634,000 shares, 11.1348% of the total portfolio.
  2. Ensco PLC (ESV) - 1,900,800 shares, 10.7608% of the total portfolio.
  3. Avnet Inc. (AVT) - 2,454,700 shares, 8.9641% of the total portfolio.
  4. Arrow Electronics Inc. (ARW) - 2,232,200 shares, 8.683% of the total portfolio.
  5. Rosetta Resources Inc. (ROSE) - 1,712,300 shares, 8.2047% of the total portfolio. Shares reduced by 5.87%


Added: Oshkosh (OSK)

Robert Rodriguez added to his holdings in Oshkosh by 116.15%. His purchase prices were between $16.01 and $32.59, with an estimated average price of $22.44. The impact to his portfolio due to this purchase was 1.47%. His holdings were 1,245,026 shares as of 09/30/2011.

Oshkosh Corporation is a designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh has a market cap of $1.69 billion; its shares were traded at around $18.52 with a P/E ratio of 4.6 and P/S ratio of 0.2.

Added: Newfield Exploration Co. (NFX)

Robert Rodriguez added to his holdings in Newfield Exploration Co. by 32.21%. His purchase prices were between $40.32 and $72.91, with an estimated average price of $56.15. The impact to his portfolio due to this purchase was 0.86%. His holdings were 633,300 shares as of 09/30/2011.

Newfield Exploration Company explores, develops and acquires oil and natural gas properties primarily in the Gulf of Mexico. Newfield Exploration Co. has a market cap of $5.71 billion; its shares were traded at around $42.42 with a P/E ratio of 9.9 and P/S ratio of 3. Newfield Exploration Co. had an annual average earnings growth of 5.4% over the past 10 years.

New Purchase: Amerigroup Corp. (AGP)

Robert Rodriguez initiated holdings in Amerigroup Corp.. His purchase prices were between $40.1 and $74.87, with an estimated average price of $53.54. The impact to his portfolio due to this purchase was 2.42%. His holdings were 443,100 shares as of 09/30/2011.

Amerigroup Corporation is a multi-state managed healthcare company focused on serving people who receive healthcare benefits through state-sponsored programs, including Medicaid, Children's Health Insurance Program, or CHIP, and Family Care. Amerigroup Corp. has a market cap of $2.14 billion; its shares were traded at around $43.12 with a P/E ratio of 7.9 and P/S ratio of 0.4. Amerigroup Corp. had an annual average earnings growth of 16.5% over the past 10 years. GuruFocus rated Amerigroup Corp. the business predictability rank of 4-star.

New Purchase: Federated Investors Inc. (FII)

Robert Rodriguez initiated holdings in Federated Investors Inc.. His purchase prices were between $16.36 and $24.53, with an estimated average price of $19.31. The impact to his portfolio due to this purchase was 1.67%. His holdings were 678,600 shares as of 09/30/2011.

Federated Investors, Inc. is a provider of investment management and related financial services. Federated Investors Inc. has a market cap of $1.87 billion; its shares were traded at around $17.93 with a P/E ratio of 10.4 and P/S ratio of 2. The dividend yield of Federated Investors Inc. stocks is 5.3%. Federated Investors Inc. had an annual average earnings growth of 1% over the past 10 years.

New Purchase: Veeco Instruments Inc. (VECO)

Robert Rodriguez initiated holdings in Veeco Instruments Inc.. His purchase prices were between $26.94 and $47.21, with an estimated average price of $36.1. The impact to his portfolio due to this purchase was 0.77%. His holdings were 225,700 shares as of 09/30/2011.

VEECO INSTRUMENTS INC. (DE) designs, manufactures, markets and services a broad line of precision beam etching and surface measurement systems used in the manufacture of microelectronic products. Veeco Instruments Inc. has a market cap of $1.11 billion; its shares were traded at around $27.03 with a P/E ratio of 4.9 and P/S ratio of 1.2.

Reduced: Baker Hughes Inc. (BHI)

Robert Rodriguez reduced to his holdings in Baker Hughes Inc. by 14.5%. His sale prices were between $48.59 and $79.94, with an estimated average price of $64.51. The impact to his portfolio due to this sale was -0.56%. Robert Rodriguez still held 428,772 shares as of 09/30/2011.

Baker Hughes Inc. is engaged in the oilfield and process industries. Baker Hughes Inc. has a market cap of $23.33 billion; its shares were traded at around $53.48 with a P/E ratio of 16.8 and P/S ratio of 1.6. The dividend yield of Baker Hughes Inc. stocks is 1.2%. Baker Hughes Inc. had an annual average earnings growth of 11% over the past 10 years.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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