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Second Quarter Update - Delphi Increases Positions

GuruFocus recently updated the portfolio of Delphi Management Inc., located in Boston. The firm’s founder and president Scott Black lists 121 stocks, 12 of them new, with a total value of $839 million and a quarter-over-quarter turnover of 19%. Here are the adds made by investor Guru Scott Black as of June 30, 2013.

ADD: Helmerich & Payne (HP) – Oil & Gas Drilling

Delphi Management Inc. increased its HP position by 11.34%, buying 16,098 shares at an average price of $61.57 for a 6.2% gain.

Up 52% over 12 months, Helmerich & Payne (HP) has a market cap of $6.88 billion and trades with a P/E of 11.40 and a P/B of 1.70.

The current share price is $65.48, with a change from average up 6%.

This trade impacts the Delphi portfolio by 0.12%.

Here’s a look at historical pricing:

1373918412987.png

Helmerich & Payne Inc. (HP) is a contract oil and gas drilling business composed of three segments: U.S. Land, Offshore and International Land. Its 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 of 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).



ADD: FedEx Corporation (FDX) – Integrated Shipping & Logistics

Delphi Management Inc. increased its FDX position by 20.55%, buying 19,556 shares at an average price of $97.08 for a 6.7% gain.

Up 10% since January, FedEx Corporation (FDX) has a market cap of $33.49 billion and trades with a P/E of 21.10 and a P/B of 1.90.

The current share price is $102.29, with a change from average up 5%.

This trade impacts the Delphi portfolio by 0.22%.

Here’s a look at historical pricing:

1373919081074.png

FedEx Corporation is a holding company that provides strategic direction to the FedEx portfolio of shipping, transportation, e-commerce and business companies.



ADD: Culp Inc. (CFI) – Textile Manufacturing

Delphi Management Inc. increased its CFI position by 117.3%, buying 46,814 shares at an average price of $16.60 for a 10.9% gain.

Up 82% over 12 months, Culp Inc. (CFI) has a market cap of $227.7 million and trades with a P/E of 12.80 and a P/B of 2.20.

The current share price is $18.28, with a change from average up 10%.

This trade impacts the Delphi portfolio by 0.1%.

Here’s a look at historical pricing:

1373920024317.png

Culp Inc. (CFI) manufactures, sources, and markets fabric mattress ticking used for covering mattresses and box springs, and upholstery fabrics mainly for use in production of upholstered furniture, both residential and commercial.

ADD: Berkshire Hathaway Inc. (BRK.B) – Insurance - Diversified

Delphi Management Inc. increased its BRK.B position by 15.36%, buying 28,292 shares at an average price of $110.02 for a gain of 6.4%.

Up 39% over 12 months, Berkshire Hathaway has a market cap of $273.35 billion and trades with a P/E of 16.90 and a P/B of 1.40.

The current share price is $117.12, with a change from average up 6%.

This trade impacts the Delphi portfolio by 0.37%.

Here’s a look at historical pricing:

1373920371488.png

Berkshire Hathaway Inc. is a holding company with subsidiaries engaged in diverse business activities, including property and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, service and retailing. The company's insurance and reinsurance business activities are conducted through numerous domestic and foreign-based insurance entities.

ADD: Whiting Petroleum Corporation (WLL) – Oil & Gas E&P

Delphi Management Inc. increased its WLL position by 29.52%, buying 623 shares at an average price of $44.42 for a gain of 8.9%.

Up 21% over 12 months, Whiting Petroleum Corporation has a market cap of $5.75 billion and trades with a P/E of 14.50 and a P/B of 1.50.

The current share price is $48.36, with a change from average up 4%.

This trade impacts the Delphi portfolio by 0.27%.

Here’s a look at historical pricing:

1373921898901.png

Whiting Petroleum Corporation (WLL) is an independent oil and natural gas company engaged in exploitation, acquisition, exploration and production activities mainly in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States.

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[b]Read two more stories for full details about Delphi Management’s buys and sells.




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