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Prem Watsa Buys 7 New Stocks

Holly LaFon

Holly LaFon

255 followers
Prem Watsa is an enormously successful investor in the model of Warren Buffett, who invests the float of his insurance conglomerate, Fairfax Financial. In the second quarter, he opened six new positions: Resolute Forest Products (RFP), IntegraMed America (INMD), GigOptix (GIG), Provident New York Bancorp (PBNY), Taiwan Fund Inc. (TWN) and JAKKS Pacific (JAKK). Resolute Forest Products (RFP)

Watsa bought 18,460,790 shares of Resolute Forest Products in the second quarter of 2012. The new position comprises 11.2% of his portfolio.

Resolute Forest Products Inc. manufactures a diverse range of forest products including newsprint, commercial printing papers, market pulp and wood products. It has a P/E ratio of 9.98 and P/S ratio of 0.26.

IntegraMed America (INMD)

Watsa’s second-largest purchase comprises 0.024% of his portfolio. He bought 33,000 shares of IntegraMed America at an average price of $13 in the second quarter.

IntegraMed America Inc. is a physician practice management company which provides comprehensive management support services to a network of medical providers of women's health care services. Integramed America has a market cap of $166.9 million; its shares were traded at around $13.97 with a P/E ratio of 26.8 and P/S ratio of 0.6. Integramed America had an annual average earnings growth of 11.6% over the past 10 years. GuruFocus rated Integramed America the business predictability rank of 3.5-star.

GigOptix (GIG)

GigOptix bought 84,748 shares of GigOptix in the second quarter.

GigOptix, a fabless semiconductor manufacturer, provides electronic engines for the optically connected digital world.

Provident New York Bancorp (PBNY)

Watsa bought 25,000 shares of Provident New York Bancorp at an average price of $8 in the second quarter of 2012.

Provident New York Bancorp is a full-service independent community bank that helps families and businesses make the most of life's opportunities. Provident New York Bancorp has a market cap of $312.7 million; its shares were traded at around $8.29 with a P/E ratio of 16.5 and P/S ratio of 2.2. The dividend yield of Provident New York Bancorp stocks is 2.9%. Provident New York Bancorp had an annual average earnings growth of 9.3% over the past 10 years.

Taiwan Fund Inc. (TWN)

Watsa bought 11,438 shares of Taiwan Fund at an average price of $16 in the second quarter of 2012.

Taiwan Fund Inc. is a closed-end, diversified management investment company with an investment objective of long-term capital appreciation through investment primarily in equity securities listed on the Taiwan Stock Exchange. Taiwan Fund Inc. has a market cap of $287.9 million; its shares were traded at around $15.57.

JAKKS Pacific (JAKK)

Watsa bought 10,301 shares at an average price of $18 in the second quarter of 2012.

JAKKS Pacific is a multi-line, multi-brand toy company that designs, develops, produces and markets toys and related products. JAKKS Pacific has a market cap of $417.3 million; its shares were traded at around $16.4 with and P/S ratio of 0.6. The dividend yield of JAKKS Pacific stocks is 2.5%.

Watsa also sold several stocks:

Watsa sold out of his position in Primero Mining Corp. (PPP) in the second quarter. Primero Mining Corp. is engaged in exploration, acquisition and development of mineral resource properties. Primero Mining Corp. New Common Shares (Canada) has a market cap of $342.5 million; its shares were traded at around $3.98 with a P/E ratio of 8.3 and P/S ratio of 2.2.

Watsa also left his position in Motorola Mobility Holdings, which he owned 15,000 shares of, at an average price of $39. He bought the position in the third quarter of 2011 at an average price of $31. Motorola Mobility Holdings operates as a provider of technologies products and services for handset and television set-top box units.

Google acquired Motorola in May for $12.5 billion.

See Prem Watsa’s portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Prem Watsa.


Rating: 3.1/5 (8 votes)

Comments

kfh227
Kfh227 premium member - 2 years ago
rfp is not a new position. it is the new ticker for abh. same company, new name, new ticker.

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