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Chris Davis' Top Second Quarter Portfolio Changes

August 08, 2013 | About:
Monica Wolfe

Monica Wolfe

133 followers
Chris Davis of Davis Funds, and even more specifically, the New York Venture Fund added eight stocks during the second quarter bring the total stocks owned to 193 stocks. This portfolio is currently valued at over $39 billion. According to the fund’s Investment Discipline they invest only in companies that have proven management, durable and financially strong business models and sustainable competitive advantages. The following companies represent the largest changes Chris Davis made to his portfolio during the second quarter

Increases

CH Robinson Worldwide (CHRW)

During the second quarter, Chris Davis upped his holdings by 1741.38%. The guru purchased a total of 113,364 shares at an average price of $57.65 per share. Since this addition, the price per share has dropped approximately -2.5%.

Davis now owns a total of 119,874 shares of CH Robinson, representing a miniscule 0.07% of the company’s shares outstanding and 0.017% of his total portfolio. Davis’ holding history as of the second quarter:



CH Robinson Worldwide is a third party logistics company. The company provides freight transportation services and logistics solutions to companies of all sizes and in a variety of industries.

CH Robinson’s historical price, revenue and net income:

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The company’s second quarter financials reported:

· EPS of $0.70, down 1.4% from last year.

· Revenue escalated 11.3% to $3.29 billion.

· Operating expenses rose 20.6% to $290.1 million.

CH Robinson Worldwide has a market cap of $9.02 billion. Its shares are currently trading at around $56.21 with a P/E ratio of 15.30, a P/S ratio of 0.80 and a P/B ratio of 6.40. The company had an annual average earnings growth of 16.5% over the past 10 years.

GuruFocus rated CH Robinson the business predictability rank of 3-star.

There are currently 15 gurus that hold a position in CH Robinson.

Taubman Centers (TCO)

During the second quarter Davis upped his position in Taubman Centers by 163.33%. The guru purchased 168,446 shares at $81.58 per share. Since this buy, the share price has dropped approximately -12.3%.

Davis initiated his position in fourth quarter 2006 and sold out in third quarter 2011. The guru bought back in during the second quarter of 2012 and has been steadily increasing his position since then. Davis now holds on to 271,578 shares of Taubman Centers, representing 0.43% of the company’s shares outstanding and 0.052% of his total portfolio.

Davis’ holding history as of the second quarter:



Taubman is a REIT engaged in the ownership, management and/or leasing of 27 regional shopping centers in the U.S. and Asia.

Taubman’s historical price, revenue and net income:

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The company’s second quarter financials report:

· EPS per diluted share of $0.28, up from $0.27 in the second quarter 2012.

· Funds from Operations per diluted share of $0.75, up 2.7% from last year.

· Net operating income up 3.9%.

· Saks announced that they would anchor the Taubman’s International Market Place in Hawaii.

Taubman Centers has a market cap of $4.57 billion. Its shares are currently trading at around $71.51 with a P/E ratio of 46.90 and a P/S ratio of 5.90. The company had an annual average earnings growth of 34.8% over the past five years.

There are currently five gurus that maintain a position in Taubman Centers.

UnitedHealth Group (UNH)

During the second quarter Chris Davis also made a notable increase in his holdings in UnitedHealth Group. The guru increased his position 80.72% by purchasing 6,588,559 shares. Davis bought these shares at an average price of $62.22, and since that buy the share price has increased approximately 17.6%.

Davis now owns a total of 14,750,586 shares of UnitedHealth Group, representing 1.44% of the company’s shares outstanding. Davis’ holding history of UNH:



UnitedHealth Group’s historical price, revenue and net income:

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The company is a health and wellness company that helps people live healthier lives and helps make health care work better through its primary subsidiary, UnitedHealthcare. UnitedHealthcare serves the health benefits needs of individuals across life's stages through three businesses.

The company’s second quarter results highlighted:

· Quarterly revenues exceed $30 billion, increasing 12% from last year.

· The company increased customers by adding an additional 3 million, currently serves over 45 million.

· Optum revenues of $8.8 billion grew 21%.

· UnitedHealth Group net earnings of $1.40 per share increased 10% from last year.

United Health has a market cap of $74.21 billion. Its shares are currently trading at around $72.99 with a P/E ratio of 13.90, a P/S ratio of 0.60 and a P/B ratio of 2.30. The company had an annual average earnings growth of 14.2% over the past ten years.

GuruFocus rated UnitedHealth the business predictability rank of 4-star.

There are currently 27 gurus that maintain a position in UnitedHealth.

Decreases

Unilever NV (UN)

During the second quarter, Davis dropped nearly all of his shares of Unilever NV. The guru reduced his position -95.06% by selling 718,580 shares. Davis sold these shares at an average price of $41.15 per share. Since his sell, the price per share has dropped approximately -3.6%.

Davis now holds 37,332 shares of Unilever, representing a very minor 0.0037% of his portfolio. Davis’ holding history of Unilever:



Unilever is one of the world's largest consumer products companies. They produce and market a wide range of foods, home and personal care products. Their leading brands include Dove, Lipton, Magnum, Omo and Rama.

Unilever’s historical price, revenue and net income:

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Unilever has a market cap of $119.4 billion. Its shares are currently trading at around $39.65 with a P/E ratio of 18.20, a P/S ratio of 1.70 and a P/B ratio of 5.70. The company has seen an annual average earnings growth of 2% over the past 10 years.

Devon Energy (DVN)

During the second quarter, Davis dropped 80.17% of his shares of Devon Energy. The guru sold a total of 4,270,468 shares at $55.70 per share. Since his sell, the share price has increased approximately 5.1%. Davis still holds on to 1,056,575 shares of Devon, representing 0.26% of the company’s shares outstanding and 0.14% of his total portfolio.

Davis’ holding history of Devon Energy:



Devon Energy is an independent energy company engaged mainly in the exploration, development and production of oil, natural gas and NGLs. The Company's operations are concentrated in various North American onshore areas in the U.S. and Canada.

Devon’s historical price, revenue and net income:

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Devon Energy has a market cap of $23.76 billion. Its shares are currently trading at around $58.53 with a P/E ratio of 34.20, a P/S ratio of 2.60 and a P/B ratio of 1.20.

Alexandria Real Estate Equities (ARE)

Chris Davis cut his position in Alexandria Real Estate Equities by -68.03% during the second quarter. Davis sold a total of 922,575 shares of company stock at an average price of $70.68 per share. The price per share has decreased approximately -4.1% from his average sell price.

Davis now holds 433,630 shares of Alexandria, representing the first time he’s held under a million shares in the company since 2006. The guru’s holdings make up 0.68% of the company’s shares outstanding and 0.072% of his total portfolio.

Davis’ holding history of ARE:



Alexandria is engaged in the ownership, operation, management, acquisition and selective redevelopment and development of high quality, strategically located properties containing office/laboratory space designed and improved for lease mainly to institutional, pharmaceutical, biotechnology, life science product, service, biodefense and translational research entities, as well as government agencies.

Alexandria’s historical price, revenue and net income:

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Alexandria Real Estate Equities has a market cap of $4.84 billion. Its shares are currently trading at $67.79 with a P/E ratio of 57.80, a P/S ratio of 8.00 and a P/B ratio of 1.50. The company also currently offers a 3.40% dividend yield.

Check out Chris Davis’ second quarter portfolio here.

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