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Sally Jones
Sally Jones
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Steven Romick’s FPA Crescent Sells Three

July 15, 2013 | About:

In the recently updated portfolio of Steven Romick, FPA Crescent Fund (FPACX) lists 57 stocks, four of them new, with a total value of $6.8 billion and a quarter-over-quarter turnover of 2%. Here’s the latest report on FPA Crescent Fund’s sell outs as of the second quarter 2013. Read moreabout Steven Romick’s second quarter increases and two new stocks here.

Sold Out: Travelers Companies Inc. (NYSE:TRV) – Insurance – Property & Casualty

After twelve quarters of gains, FPA Crescent Fund sold out its TRV position, unloading 695,000 shares at an average price of $84.05 for a gain of 0.2%.

Up 16% since January, Travelers Companies Inc. (NYSE:TRV) has a market cap of $31.13 billion and trades at a P/E of 12.90 and a P/B of 1.20.

The current share price is $84.18 with a change from average at 0%.

Historical share prices:

1373834831607.png



Sold Out: PetSmart Inc. (NASDAQ:PETM) – Specialty Retail

FPA Crescent Fund also sold out its PETM position, unloading 423,000 shares at an average price of $67.36 for a gain of 6.9%. Romick’s trading history shows eight quarters of gains on buying and selling.

Up 4% since January, PetSmart Inc. (NASDAQ:PETM) has a market cap of $7.41 billion and trades at a P/E of 19.30 and a P/B of 6.80.

The current share price is $72 with a change from average up 7%.

Historical share prices:

1373835005220.png

Sold Out: Ensco PLC (NYSE:ESV) – Oil & Gas Drilling

FPA Crescent Fund also sold out its Ensco PLC (NYSE:ESV) position, unloading 470,000 shares at an average price of $58.77 for a gain of 2.5%. Romick’s trading history shows only one losing quarter, first quarter of 2013, with a loss of 1.4%, in an otherwise long and lucrative ride.

Down 2% since January, Ensco PLC (NYSE:ESV) has a market cap of $13.88 billion and trades at a P/E of 11.50 and a P/B of 1.10.

The current share price is $60.25 with a change from average up 2%.

Historical share prices:

1373835376404.png

Well-known for lucid letter writing, Guru Steven Romick has been the portfolio manager of the FPA Crescent Fund since 1996. Delivering more than 11% a year in average over the past 10 years, Romick manages $11.3 billion in assets in the FPA Crescent Fund (FPACX).



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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

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