As of June 30, 2013, the updated portfolio of First Pacific Advisors (FPA) Capital Fund, managed by Dennis Bryan and Rikard Ekstrand, lists 27 stocks, none of them new, with a total value of $803 million and a quarter-over-quarter turnover of 3%. According to GuruFocus research, FPA Capital added or reduced the following holdings as of the second quarter of 2013. Here are the details of the trades, as of June 30, 2013.
ADD: Apollo Group Inc. (APOL) – Education and Training Services
FPA Capital increased its new position with Apollo Group Inc. (APOL) by 32.57%.
Down 12% since January, Apollo Group Inc. (APOL) has a market cap of $2.14 billion and trades with a P/E of 6.90 and a P/B of 1.90.
The current share price is $18.54, with a change from average down 3%.
FPA Capital now owns 1,673,700 shares after the trade. This trade impacts the portfolio by 0.91%.
Apollo Group offers educational programs and services both online and on-campus at the undergraduate, master's and doctoral levels through the wholly-owned subsidiaries, including The University of Phoenix, Inc., Institute for Professional Development (IPD) and The College for Financial Planning Institutes Corporation (CFFP). The company also owns a publishing company, Carnegie Learning Inc.
ADD: ARRIS Group Inc. (ARRS) – Communication Equipment
FPA Capital increased its position with ARRIS Group Inc. (ARRS) by 52.31%.
Up 1% since January, Apollo Group Inc. (APOL) has a market cap of $2.12 billion and trades with a P/E of 56.40 and a P/B of 1.80.
The current share price is $15.51, with a change from average down 2%.
FPA Capital now owns 918,100 shares after the trade. This trade impacts the portfolio by 0.55%.
ARRIS Group Inc. (ARRS) is a global communications technology company specializing in the design and engineering of broadband network solutions.
ADD: Helmerich & Payne Inc. (HP) – Oil and Gas Drilling
FPA Capital increased its position with Helmerich & Payne Inc. (HP) by 22.23%
Up 15% since January, Helmerich & Payne Inc. (HP has a market cap of $6.89 billion and trades with a P/E of 11.50 and a P/B of 1.70.
The current HP share price is $65.48, with a change from average up 6%.
FPA Capital now owns 197,400 shares after the trade. This trade impacts the portfolio by 0.27%.
Helmerich & Payne Inc. (HP) is a contract oil and gas drilling business, with three reportable business segments: U.S. Land, Offshore and International Land. HP’s U.S. Land operations drill mainly in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Pennsylvania, Ohio, Utah, Arkansas, New Mexico, Montana, North Dakota and West Virginia. Offshore operations are conducted in the Gulf of Mexico, and offshore California, Trinidad and Equatorial Guinea. The company's International Land segment operates in six international locations: Ecuador, Colombia, Argentina, Tunisia, Bahrain and United Arab Emirates (UAE).
Second Quarter 2013 Reductions
In the second quarter of 2013, FPA Capital also reduced positions with data storage company Western Digital Corporation (WDC) by 31.26%, oil and gas driller Rowan Companies PLC (RDC) by 13.3%, truck maker Oshkosh Corporation (OSK) by 14.61%, and semiconductor company Veeco Instruments Inc. (VECO) by 10.01%.
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