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Columbia Value and Restructuring Fund Q3 Portfolio Update

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gurufocus

349 followers
Columbia Value and Restructuring Fund is run by value investor David Williams. The fund has unperformed in recent years, like many other value investors. But Mr. Williams thinks that the market is poised for a significant rebound to more realistic and fair valuations should macroeconomic concerns be laid to rest. His fund is nearly 25% cheaper than market indices, despite much improved quality and growth characteristics.

David Williams buys Murphy Oil Corp., Hasbro Inc., Harris Corp., sells Pnc Financial Services Group Inc., Schnitzer Steel Industries Inc., United Technologies Corp., Citigroup Inc., Dole Food Company, Petrohawk Energy Corp., The Goldman Sachs Group Inc., Apache Corp., Visa, Molycorp Inc. Mand Conv Pfd Series A during the 3-months ended 09/30/2011, according to the most recent filings of his investment company, Columbia Value and Restructuring Fund. As of 09/30/2011, Columbia Value and Restructuring Fund owns 60 stocks with a total value of $4.5 billion. These are the details of the buys and sells.

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

This is the sector weightings of his portfolio:

Not Assigned 20.9%
Oil & Gas 16.6%
Industrials 13.7%
Technology 9.9%
Financials 9.8%
Consumer Goods 8.6%
Basic Materials 8.3%
Consumer Services 7.4%
Health Care 3.4%
Telecom 0.7%


These are the top 5 holdings of David Williams

  1. Lorillard (LO) - 2,600,000 shares, 6.46% of the total portfolio. Shares reduced by 13.33%
  2. Union Pacific Corp. (UNP) - 2,681,875 shares, 4.92% of the total portfolio. Shares reduced by 10.6%
  3. International Business Machines Corp (IBM) - 1,200,000 shares, 4.71% of the total portfolio. Shares reduced by 14.29%
  4. ACE Ltd. (ACE) - 3,087,500 shares, 4.2% of the total portfolio. Shares reduced by 0.4%
  5. America Movil S.A.B. De C.V. (AMOV) - 7,863,750 shares, 3.9% of the total portfolio. Shares reduced by 12.63%


Added: Murphy Oil Corp. (MUR)

David Williams added to his holdings in Murphy Oil Corp. by 22.22%. His purchase prices were between $44.05 and $69.71, with an estimated average price of $56.02. The impact to his portfolio due to this purchase was 0.2%. His holdings were 1,100,000 shares as of 09/30/2011.

Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom and crude oil transportation and trading operations in Canada. Murphy Oil Corp. has a market cap of $10.26 billion; its shares were traded at around $53.01 with a P/E ratio of 10.8 and P/S ratio of 0.4. The dividend yield of Murphy Oil Corp. stocks is 2%. Murphy Oil Corp. had an annual average earnings growth of 19.3% over the past 10 years. GuruFocus rated Murphy Oil Corp. the business predictability rank of 4-star.

Added: Hasbro Inc. (HAS)

David Williams added to his holdings in Hasbro Inc. by 70.09%. His purchase prices were between $34.03 and $46, with an estimated average price of $38.15. The impact to his portfolio due to this purchase was 0.18%. His holdings were 587,500 shares as of 09/30/2011.

Hasbro Inc. is a worldwide leader in children's and family leisure time andentertainment products and services, including the design, manufacture andmarketing of games and toys ranging from traditional to high-tech. Hasbro Inc. has a market cap of $4.6 billion; its shares were traded at around $34.23 with a P/E ratio of 13 and P/S ratio of 1.2. The dividend yield of Hasbro Inc. stocks is 3.5%. Hasbro Inc. had an annual average earnings growth of 6.9% over the past 10 years.

Added: Harris Corp. (HRS)

David Williams added to his holdings in Harris Corp. by 3.75%. His purchase prices were between $34.52 and $44.9, with an estimated average price of $39.45. The impact to his portfolio due to this purchase was 0.11%. His holdings were 4,150,000 shares as of 09/30/2011.

Harris Corporation is an international company focused on communicationsequipment for voice, data and video applications. Harris Corp. has a market cap of $4.33 billion; its shares were traded at around $36.51 with a P/E ratio of 7.5 and P/S ratio of 0.7. The dividend yield of Harris Corp. stocks is 3%. Harris Corp. had an annual average earnings growth of 32.9% over the past 10 years. GuruFocus rated Harris Corp. the business predictability rank of 4.5-star.

Reduced: United Technologies Corp. (UTX)

David Williams reduced to his holdings in United Technologies Corp. by 31.4%. His sale prices were between $67.44 and $91.39, with an estimated average price of $77.63. The impact to his portfolio due to this sale was -0.7%. David Williams still held 1,131,875 shares as of 09/30/2011.

United Technologies Corporation provides a broad range of high technology products and services to the building systems and aerospace industries. United Technologies Corp. has a market cap of $67.35 billion; its shares were traded at around $74.12 with a P/E ratio of 14 and P/S ratio of 1.2. The dividend yield of United Technologies Corp. stocks is 2.6%. United Technologies Corp. had an annual average earnings growth of 10.4% over the past 10 years. GuruFocus rated United Technologies Corp. the business predictability rank of 5-star.

Reduced: Dole Food Company (DOLE)

David Williams reduced to his holdings in Dole Food Company by 73.91%. His sale prices were between $9.5 and $14.5, with an estimated average price of $11.76. The impact to his portfolio due to this sale was -0.5%. David Williams still held 900,000 shares as of 09/30/2011.

Dole Food Company's worldwide team of growers, packers, processors, shippers and employees is committed to consistently providing safe, high-quality fresh fruit, vegetables, and food products, while protecting the environment in which its products are grown and processed. Dole Food Company has a market cap of $887.8 million; its shares were traded at around $10.02 with a P/E ratio of 7 and P/S ratio of 0.1.

Reduced: Apache Corp. (APA)

David Williams reduced to his holdings in Apache Corp. by 35.01%. His sale prices were between $82.57 and $128.47, with an estimated average price of $107.13. The impact to his portfolio due to this sale was -0.32%. David Williams still held 422,465 shares as of 09/30/2011.

Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. Apache Corp. has a market cap of $34.71 billion; its shares were traded at around $90.41 with a P/E ratio of 8.6 and P/S ratio of 2.9. The dividend yield of Apache Corp. stocks is 0.7%. Apache Corp. had an annual average earnings growth of 15.2% over the past 10 years. GuruFocus rated Apache Corp. the business predictability rank of 2.5-star.

Sold Out: Pnc Financial Services Group Inc. (PNC)

David Williams sold out his holdings in Pnc Financial Services Group Inc.. His sale prices were between $43.12 and $60.59, with an estimated average price of $51.36.

The PNC Financial Services Group, Inc. is one of the nation's largest diversified financial services organizations, providing regional banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund services. Pnc Financial Services Group Inc. has a market cap of $26.95 billion; its shares were traded at around $51.22 with a P/E ratio of 8 and P/S ratio of 1.6. The dividend yield of Pnc Financial Services Group Inc. stocks is 2.8%. Pnc Financial Services Group Inc. had an annual average earnings growth of 5.9% over the past 10 years.

Sold Out: Schnitzer Steel Industries Inc. (SCHN)

David Williams sold out his holdings in Schnitzer Steel Industries Inc.. His sale prices were between $35.84 and $58.57, with an estimated average price of $46.39.

Schnitzer Steel Industries, Inc. collects, processes and recycles metals by operating one of the largest metals recycling businesses in the United States. Schnitzer Steel Industries Inc. has a market cap of $1.09 billion; its shares were traded at around $39.63 with a P/E ratio of 11.3 and P/S ratio of 0.5. The dividend yield of Schnitzer Steel Industries Inc. stocks is 0.2%.

Sold Out: Citigroup Inc. (C)

David Williams sold out his holdings in Citigroup Inc.. His sale prices were between $23.96 and $42.63, with an estimated average price of $32.61.

Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $87.19 billion; its shares were traded at around $29.88 with a P/E ratio of 9.1 and P/S ratio of 1.

Sold Out: The Goldman Sachs Group Inc. (GS)

David Williams sold out his holdings in The Goldman Sachs Group Inc.. His sale prices were between $93.98 and $137.6, with an estimated average price of $117.77.

Goldman Sachs is a global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments, and high net worth individuals. The Goldman Sachs Group Inc. has a market cap of $51.72 billion; its shares were traded at around $102.25 with a P/E ratio of 10 and P/S ratio of 1.4. The dividend yield of The Goldman Sachs Group Inc. stocks is 1.3%. The Goldman Sachs Group Inc. had an annual average earnings growth of 9.8% over the past 10 years.

Sold Out: Visa (V)

David Williams sold out his holdings in Visa. His sale prices were between $79.24 and $92.84, with an estimated average price of $87.24.

VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. Visa has a market cap of $76.72 billion; its shares were traded at around $93.91 with a P/E ratio of 20.1 and P/S ratio of 9.5. The dividend yield of Visa stocks is 0.7%

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 2.9/5 (14 votes)

Comments

superguru
Superguru - 2 years ago
He is selling out financials near the what many consider bottom!!!!

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