Conservative Scott Black’s Delphi Management - Five New Buys

As of July 12, 2013, the updated portfolio of Boston-based Delphi Management Inc., led by the firm’s founder and president Scott M. Black, lists 121 stocks, 12 of them new, with a total value of $839 million and a quarter-over-quarter turnover of 19%. According to GuruFocus research, Delphi Management was very busy buying and selling in the second quarter of 2013. Here are the highlights of the conservative investor Guru Scott Black’s new buys as of June 30, 2013.

BUY: Curtiss-Wright Corporation (CW) – Aerospace & Defense

Delphi Management Inc. bought 32,391 CW shares at an average price of $34.71 for a 12.4% gain.

Up 15% since January, Curtiss-Wright Corporation (CW) has a market cap of $1.84 billion and trades with a P/E of 19.80 and a P/B of 1.30.

The current share price is $39.03, with a change from average up 12%.

This trade impacts the Delphi portfolio by 0.14%.

Here’s a look at historical pricing:



Curtiss-Wright Corporation (CW) designs and manufactures engineered, advanced technologies that perform critical functions in the defense, energy, commercial aerospace, and general industrial markets, where performance and reliability are essential. The company's core competence is providing advanced technologies for customers operating in harsh environments and demanding conditions.

BUY: HollyFrontier Corp. (HFC) – Oil and Gas Refining and Marketing

Delphi Management bought 4,900 HFC shares at an average price of $47.75 for a loss of 9.9%.

Down 8% since January, HollyFrontier Corp. (HFC) has a market cap of $8.6 billion and trades with a P/E of 5.00 and a P/B of 1.30.

The current share price is $43.02, with a change from average down 10%.

This trade impacts the Delphi portfolio by 0.03%.

Here’s a look at historical pricing:



HollyFrontier Corp. is an independent petroleum refiner operating two refineries in Artesia and Lovington, New Mexico and Woods Cross, Utah. Its refinery operations serve the Mid-Continent, Southwest and Rocky Mountain regions of the U.S. The company owns and operates five complex refineries with an aggregate crude capacity of 443,000 barrels per day.

BUY: Agrium Inc. (AGU) – Agricultural Inputs

After selling out more than 80,000 shares in the fourth quarter of 2012 at a 9.7% loss, Delphi Management bought 109,647 AGU shares at an average price of $91.22 for a 0.5% gain.

Down 11% since January, Agrium Inc. (AGU) has a market cap of $13.95 billion and trades with a P/E of 9.80 and a P/B of 1.90.

The current share price is $91.68, with a change from average at 0%.

This trade impacts the Delphi portfolio by 1.1%.

Here’s a look at historical pricing:



A global producer and marketer of agricultural nutrients and industrial products, Agrium Inc. (AGU) is a major supplier of agricultural products and services in North America and South America. Agrium makes and markets three primary groups of nutrients: nitrogen, phosphate and potash as well as controlled-release fertilizers and micronutrients.

BUY: SanDisk Corp. (SNDK) – Data Storage

Delphi Management bought 149,426 SNDK shares at an average price of $57.05 for a 6.7% gain.

Up 36% since January, SanDisk Corp. (SNDK) has a market cap of $14.79 billion and trades with a P/E of 31.90 and a P/B of 2.00.

The current share price is $60.90, with a change from average up 7%.

This trade impacts the Delphi portfolio by 1.1%.

Here’s a look at historical pricing:



SanDisk Corp. (SNDK) designs, develops and manufactures data storage solutions using its flash memory, proprietary controller and firmware technologies. The company provides simple, reliable and affordable storage for consumer use in portable devices.

BUY: Lam Research Corporation (LRCX) – Semiconductor Equipment & Materials

After selling out more than 87,000 shares in the fourth quarter of 2011 for a gain of 23.4%, Delphi Management bought 79,361 LRCX shares at an average price of $45.21 for a gain of 11.4%.

Up 30% since January, Lam Research Corporation (LRCX) has a market cap of $8.13 billion and trades with a P/E of 166.10 and a P/B of 1.60.

The current share price is $50.36, with a change from average up 11%.

This trade impacts the Delphi portfolio by 0.42%.

Here’s a look at historical pricing:



Lam Research Corporation (LRCX) designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company has customers and a network of field service personnel throughout the United States, Europe, Japan, Korea and Asia Pacific.



More Second Quarter 2013 Activity

Investor Guru Scott Myles Black is the chairman, president, chief investment officer, and chief compliance officer at Delphi Management Inc. Study his second quarter 2013 add and sell details for Delphi Management Inc. here.



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