FPA Crescent Fund’s Steven Romick reported the fund’s second quarter portfolio. He buys CareFusion Corp, Oracle Corporation, Health Net Inc, Occidental Petroleum Corporation, ARRIS Group Inc, , sells Omnicare Inc, Travelers Companies, Inc., Ensco PLC, PetSmart Inc., Xerox Corporation, CIT Group Inc, Bank of New York Mellon Corp, Johnson & Johnson, , Lowe's Companies Inc., American Greetings Corporation during the 3-months ended 06/30/2013, according to the most recent filings of his investment company, FPA Crescent Fund.
Steven Romick is a deep value investor. His portfolio usually has some short positions, too. Over the past 10 years, he has averaged 9% a year, as the general market up by 7.3% a year. To learn more about Steven Romick, read GuruFocus Interview with him.
As of 06/30/2013, FPA Crescent Fund owns 57 stocks with a total value of $6.8 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Steven Romick
1. Microsoft Corporation (MSFT) - 11,715,000 shares, 5.9% of the total portfolio.
2. Aon plc (AON) - 6,249,200 shares, 5.9% of the total portfolio.
3. CVS Caremark Corp (CVS) - 6,805,000 shares, 5.7% of the total portfolio.
4. Thermo Fisher Scientific Inc (TMO) - 3,695,000 shares, 4.6% of the total portfolio.
5. Covidien PLC (COV) - 4,851,700 shares, 4.5% of the total portfolio.
Steven Romick initiated holdings in CareFusion Corp. His purchase prices were between $33.21 and $38.17, with an estimated average price of $35.35. The impact to his portfolio due to this purchase was 2.6%. His holdings were 4,794,400 shares as of 06/30/2013.
New Purchase: Health Net Inc (HNT, Financial)
Steven Romick initiated holdings in Health Net Inc. His purchase prices were between $26.95 and $32.77, with an estimated average price of $30.13. The impact to his portfolio due to this purchase was 0.92%. His holdings were 1,958,000 shares as of 06/30/2013.
Sold Out: Travelers Companies, Inc. (TRV)
Steven Romick sold out his holdings in Travelers Companies, Inc.. His sale prices were between $77.85 and $87.9, with an estimated average price of $84.05.
Sold Out: Ensco PLC (ESV)
Steven Romick sold out his holdings in Ensco PLC. His sale prices were between $51.73 and $64.02, with an estimated average price of $58.77.
Sold Out: PetSmart Inc. (PETM)
Steven Romick sold out his holdings in PetSmart Inc.. His sale prices were between $61.74 and $70.51, with an estimated average price of $67.36.
Added: Oracle Corporation (ORCL, Financial)
Steven Romick added to his holdings in Oracle Corporation by 43.24%. His purchase prices were between $29.96 and $35.1, with an estimated average price of $33.18. The impact to his portfolio due to this purchase was 1.21%. His holdings were 8,830,000 shares as of 06/30/2013.
Added: Occidental Petroleum Corporation (OXY, Financial)
Steven Romick added to his holdings in Occidental Petroleum Corporation by 32.04%. His purchase prices were between $78.95 and $94.75, with an estimated average price of $88.19. The impact to his portfolio due to this purchase was 0.85%. His holdings were 2,665,900 shares as of 06/30/2013.
Added: ARRIS Group Inc (ARRS, Financial)
Steven Romick added to his holdings in ARRIS Group Inc by 70.32%. His purchase prices were between $14.17 and $17.47, with an estimated average price of $15.82. The impact to his portfolio due to this purchase was 0.62%. His holdings were 7,098,800 shares as of 06/30/2013.
Added: Groupe Bruxelles Lambert (GBLB, Financial)
Steven Romick added to his holdings in Groupe Bruxelles Lambert by 22.68%. His purchase prices were between $56.86 and $62.58, with an estimated average price of $59.95. The impact to his portfolio due to this purchase was 0.43%. His holdings were 2,068,628 shares as of 06/30/2013.
Reduced: Douglas Emmett, Inc. (DEI, Financial)
Steven Romick reduced to his holdings in Douglas Emmett, Inc. by vered. His sale prices were between $23.74 and $28.18, with an estimated average price of $25.78. The impact to his portfolio due to this sale was 0.16%. Steven Romick still held 0 shares as of 06/30/2013.
Reduced: Omnicare Inc (OCR, Financial)
Steven Romick reduced to his holdings in Omnicare Inc by 26.87%. His sale prices were between $40.82 and $47.97, with an estimated average price of $44.74. The impact to his portfolio due to this sale was -1.02%. Steven Romick still held 4,275,000 shares as of 06/30/2013.
Reduced: Xerox Corporation (XRX, Financial)
Steven Romick reduced to his holdings in Xerox Corporation by 25.45%. His sale prices were between $8.33 and $9.49, with an estimated average price of $8.87. The impact to his portfolio due to this sale was -0.33%. Steven Romick still held 6,883,300 shares as of 06/30/2013.
Reduced: CIT Group Inc (CIT, Financial)
Steven Romick reduced to his holdings in CIT Group Inc by 13.86%. His sale prices were between $40.88 and $47.56, with an estimated average price of $44.21. The impact to his portfolio due to this sale was -0.26%. Steven Romick still held 2,365,000 shares as of 06/30/2013.
Reduced: Johnson & Johnson (JNJ, Financial)
Steven Romick reduced to his holdings in Johnson & Johnson by 7.22%. His sale prices were between $81.11 and $88.59, with an estimated average price of $84.86. The impact to his portfolio due to this sale was -0.17%. Steven Romick still held 1,735,000 shares as of 06/30/2013.
Reduced: Bank of New York Mellon Corp (BK, Financial)
Steven Romick reduced to his holdings in Bank of New York Mellon Corp by 8.57%. His sale prices were between $26.7 and $30.55, with an estimated average price of $28.72. The impact to his portfolio due to this sale was -0.17%. Steven Romick still held 4,106,700 shares as of 06/30/2013.
Reduced: Unilever NV (UNA)
Steven Romick reduced to his holdings in Unilever NV by 6.16%. His sale prices were between $28.815 and $32.89, with an estimated average price of $31.53. The impact to his portfolio due to this sale was -0.12%. Steven Romick still held 2,790,000 shares as of 06/30/2013.
Reduced: Lowe's Companies Inc. (LOW)
Steven Romick reduced to his holdings in Lowe's Companies Inc. by 6.09%. His sale prices were between $37.32 and $43.23, with an estimated average price of $40.25. The impact to his portfolio due to this sale was -0.12%. Steven Romick still held 2,930,000 shares as of 06/30/2013.
Reduced: American Greetings Corporation (AM)
Steven Romick reduced to his holdings in American Greetings Corporation by 44.5%. His sale prices were between $18.05 and $18.48, with an estimated average price of $18.34. The impact to his portfolio due to this sale was -0.05%. Steven Romick still held -233,000 shares as of 06/30/2013.
Reduced: Crescent Point Energy Corp (CPG)
Steven Romick reduced to his holdings in Crescent Point Energy Corp by rt. His sale prices were between $35.01 and $38.78, with an estimated average price of $37.11. The impact to his portfolio due to this sale was -0.08%. Steven Romick still held -150,000 shares as of 06/30/2013.
Reduced: Baytex Energy Corp (BTE)
Steven Romick reduced to his holdings in Baytex Energy Corp by rt. His sale prices were between $36.64 and $42.62, with an estimated average price of $39.29. The impact to his portfolio due to this sale was -0.06%. Steven Romick still held -113,500 shares as of 06/30/2013
Here is the complete portfolio of Steven Romick. Also check out:
1. Steven Romick's Undervalued Stocks
2. Steven Romick's Top Growth Companies, and
3. Steven Romick's High Yield stocks
4. Stocks that Steven Romick keeps buying
Steven Romick is a deep value investor. His portfolio usually has some short positions, too. Over the past 10 years, he has averaged 9% a year, as the general market up by 7.3% a year. To learn more about Steven Romick, read GuruFocus Interview with him.
As of 06/30/2013, FPA Crescent Fund owns 57 stocks with a total value of $6.8 billion. These are the details of the buys and sells.
- New Purchases: CFN, HNT,
- Added Positions: ORCL, OXY, ARRS, GBLB,
- Reduced Positions: OCR, XRX, CIT, BK, JNJ, LOW, UNA, AM,
- Sold Out: TRV, ESV, PETM,
This is the sector weightings of his portfolio:
| Technology | 22% |
| Healthcare | 20.2% |
| Financial Services | 18.5% |
| Consumer Defensive | 16.3% |
| Consumer Cyclical | 11.8% |
| Energy | 6.4% |
| Industrials | 4.3% |
These are the top 5 holdings of Steven Romick
1. Microsoft Corporation (MSFT) - 11,715,000 shares, 5.9% of the total portfolio.
2. Aon plc (AON) - 6,249,200 shares, 5.9% of the total portfolio.
3. CVS Caremark Corp (CVS) - 6,805,000 shares, 5.7% of the total portfolio.
4. Thermo Fisher Scientific Inc (TMO) - 3,695,000 shares, 4.6% of the total portfolio.
5. Covidien PLC (COV) - 4,851,700 shares, 4.5% of the total portfolio.
New Purchase: CareFusion Corp (CFN, Financial)
Steven Romick initiated holdings in CareFusion Corp. His purchase prices were between $33.21 and $38.17, with an estimated average price of $35.35. The impact to his portfolio due to this purchase was 2.6%. His holdings were 4,794,400 shares as of 06/30/2013.New Purchase: Health Net Inc (HNT, Financial)
Steven Romick initiated holdings in Health Net Inc. His purchase prices were between $26.95 and $32.77, with an estimated average price of $30.13. The impact to his portfolio due to this purchase was 0.92%. His holdings were 1,958,000 shares as of 06/30/2013.
Sold Out: Travelers Companies, Inc. (TRV)
Steven Romick sold out his holdings in Travelers Companies, Inc.. His sale prices were between $77.85 and $87.9, with an estimated average price of $84.05.
Sold Out: Ensco PLC (ESV)
Steven Romick sold out his holdings in Ensco PLC. His sale prices were between $51.73 and $64.02, with an estimated average price of $58.77.
Sold Out: PetSmart Inc. (PETM)
Steven Romick sold out his holdings in PetSmart Inc.. His sale prices were between $61.74 and $70.51, with an estimated average price of $67.36.
Added: Oracle Corporation (ORCL, Financial)
Steven Romick added to his holdings in Oracle Corporation by 43.24%. His purchase prices were between $29.96 and $35.1, with an estimated average price of $33.18. The impact to his portfolio due to this purchase was 1.21%. His holdings were 8,830,000 shares as of 06/30/2013.
Added: Occidental Petroleum Corporation (OXY, Financial)
Steven Romick added to his holdings in Occidental Petroleum Corporation by 32.04%. His purchase prices were between $78.95 and $94.75, with an estimated average price of $88.19. The impact to his portfolio due to this purchase was 0.85%. His holdings were 2,665,900 shares as of 06/30/2013.
Added: ARRIS Group Inc (ARRS, Financial)
Steven Romick added to his holdings in ARRIS Group Inc by 70.32%. His purchase prices were between $14.17 and $17.47, with an estimated average price of $15.82. The impact to his portfolio due to this purchase was 0.62%. His holdings were 7,098,800 shares as of 06/30/2013.
Added: Groupe Bruxelles Lambert (GBLB, Financial)
Steven Romick added to his holdings in Groupe Bruxelles Lambert by 22.68%. His purchase prices were between $56.86 and $62.58, with an estimated average price of $59.95. The impact to his portfolio due to this purchase was 0.43%. His holdings were 2,068,628 shares as of 06/30/2013.
Reduced: Douglas Emmett, Inc. (DEI, Financial)
Steven Romick reduced to his holdings in Douglas Emmett, Inc. by vered. His sale prices were between $23.74 and $28.18, with an estimated average price of $25.78. The impact to his portfolio due to this sale was 0.16%. Steven Romick still held 0 shares as of 06/30/2013.
Reduced: Omnicare Inc (OCR, Financial)
Steven Romick reduced to his holdings in Omnicare Inc by 26.87%. His sale prices were between $40.82 and $47.97, with an estimated average price of $44.74. The impact to his portfolio due to this sale was -1.02%. Steven Romick still held 4,275,000 shares as of 06/30/2013.
Reduced: Xerox Corporation (XRX, Financial)
Steven Romick reduced to his holdings in Xerox Corporation by 25.45%. His sale prices were between $8.33 and $9.49, with an estimated average price of $8.87. The impact to his portfolio due to this sale was -0.33%. Steven Romick still held 6,883,300 shares as of 06/30/2013.
Reduced: CIT Group Inc (CIT, Financial)
Steven Romick reduced to his holdings in CIT Group Inc by 13.86%. His sale prices were between $40.88 and $47.56, with an estimated average price of $44.21. The impact to his portfolio due to this sale was -0.26%. Steven Romick still held 2,365,000 shares as of 06/30/2013.
Reduced: Johnson & Johnson (JNJ, Financial)
Steven Romick reduced to his holdings in Johnson & Johnson by 7.22%. His sale prices were between $81.11 and $88.59, with an estimated average price of $84.86. The impact to his portfolio due to this sale was -0.17%. Steven Romick still held 1,735,000 shares as of 06/30/2013.
Reduced: Bank of New York Mellon Corp (BK, Financial)
Steven Romick reduced to his holdings in Bank of New York Mellon Corp by 8.57%. His sale prices were between $26.7 and $30.55, with an estimated average price of $28.72. The impact to his portfolio due to this sale was -0.17%. Steven Romick still held 4,106,700 shares as of 06/30/2013.
Reduced: Unilever NV (UNA)
Steven Romick reduced to his holdings in Unilever NV by 6.16%. His sale prices were between $28.815 and $32.89, with an estimated average price of $31.53. The impact to his portfolio due to this sale was -0.12%. Steven Romick still held 2,790,000 shares as of 06/30/2013.
Reduced: Lowe's Companies Inc. (LOW)
Steven Romick reduced to his holdings in Lowe's Companies Inc. by 6.09%. His sale prices were between $37.32 and $43.23, with an estimated average price of $40.25. The impact to his portfolio due to this sale was -0.12%. Steven Romick still held 2,930,000 shares as of 06/30/2013.
Reduced: American Greetings Corporation (AM)
Steven Romick reduced to his holdings in American Greetings Corporation by 44.5%. His sale prices were between $18.05 and $18.48, with an estimated average price of $18.34. The impact to his portfolio due to this sale was -0.05%. Steven Romick still held -233,000 shares as of 06/30/2013.
Reduced: Crescent Point Energy Corp (CPG)
Steven Romick reduced to his holdings in Crescent Point Energy Corp by rt. His sale prices were between $35.01 and $38.78, with an estimated average price of $37.11. The impact to his portfolio due to this sale was -0.08%. Steven Romick still held -150,000 shares as of 06/30/2013.
Reduced: Baytex Energy Corp (BTE)
Steven Romick reduced to his holdings in Baytex Energy Corp by rt. His sale prices were between $36.64 and $42.62, with an estimated average price of $39.29. The impact to his portfolio due to this sale was -0.06%. Steven Romick still held -113,500 shares as of 06/30/2013
Here is the complete portfolio of Steven Romick. Also check out:
1. Steven Romick's Undervalued Stocks
2. Steven Romick's Top Growth Companies, and
3. Steven Romick's High Yield stocks
4. Stocks that Steven Romick keeps buying
