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Jeremy Grantham's Largest Q2 Portfolio Increases

August 14, 2013 | About:
Monica Wolfe

Monica Wolfe

119 followers
Jeremy Grantham is the chairman of the board of Grantham, Mayo, Van Otterloo & Co. (GMO), a Boston-based asset management firm. Grantham is considered to be a highly knowledgeable investor in various stock, bond and commodity markets. The guru has built much of his investing reputation by correctly identifying speculative market “bubbles” as they were happening and steering clients’ assets away from impending crashes.

According to GMO’s recent filings, the fund bought 94 new stocks and holds 647 stocks valued at over $38 billion as of the close of the second quarter.



The following companies represent the largest stock increases Grantham made during the second quarter of 2013.

Berry Petroleum (BRY)

Over the duration of the second quarter, Grantham made his largest increase of the quarter in Berry Petroleum. The guru upped his stake in Berry Petroleum 17502.1% by adding a total of 805,097 shares to his holdings. The guru bought shares at an estimated average price of $45.45 per share. Since this increase, the price per share has dropped -11.2% from the average price.

Grantham now holds on to a total of 809,697 shares of Berry Petroleum, representing 1.49% of the company’s shares outstanding and 0.089% of the guru’s total portfolio.

Grantham’s holding history as of the close of the second quarter:

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Berry Petroleum is an independent energy company engaged in the production, development, acquisition, exploitation of and exploration for, crude oil and natural gas.

Berry Petroleum’s historical revenue and earnings growth:

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The Peter Lynch Chart suggests that Berry Petroleum is currently undervalued:

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Berry Petroleum has a market cap of $2.19 billion. Its shares are currently trading at around $40.34 with a P/E ratio of 13.10, a P/S ratio of 2.20 and a P/B ratio of 2.10.

Life Technologies (LIFE)

Grantham also made a notable increase in his position in Life Technologies. The guru increased his position 2251.35% by purchasing a total of 416,500 shares of the company’s stock. The guru bought these shares at an estimated average price of $72.6%; the share price has increased 3% from this price.

Grantham now owns a total of 435,000 shares of Life Technologies, representing 0.26% of the company’s shares outstanding and 0.084% of his total portfolio.

Jeremy Grantham’s holding history of LIFE as of the second quarter:

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Life Technologies’ systems, consumables and services enable researchers and commercial markets to accelerate scientific exploration, to discoveries and developments that better the quality of human life.

Life Technologies’ historical revenue and net income:

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The Peter Lynch Chart suggests that the company is currently overvalued:

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Life Technologies has a market cap of $12.91 billion. Its shares are currently trading at around $74.76 with a P/E ratio of 31.00, a P/S ratio of 3.40 and a P/B ratio of 2.70. The company had an annual average earnings growth of 25.9% over the past 10 years.

Hudson City Bancorp (HCBK)

Grantham increased his position in Hudson City Bancorp by 1801.61% over the duration of the second quarter. The guru bought a total of 2,329,480 shares when the stock was trading at an estimated average price of $8.47. Since this buy the price per share has increased approximately 12.5% from the average price.

The guru now owns 2,458,780 shares of Hudson City Bancorp, representing 0.47% of the company’s shares outstanding and 0.059% of his total portfolio.

Grantham’s holding history of HCBK as of the second quarter:

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The principal asset of Hudson City Bancorp is its investment in Hudson City Savings Bank. The bank conducts its operations out of its corporate offices in Paramus in Bergen County, N.J., and through 135 branches in the New York metropolitan area.

Hudson City Bancorp’s historical revenue and earnings:

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The Peter Lynch Chart suggests that Hudson City Bancorp is overvalued:

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Hudson City Bancorp has a market cap of $5.04 billion. Its shares are currently trading at around $9.53 with a P/E ratio of 23.60, a P/S ratio of 6.40 and a P/B ratio of 1.10. The company also currently offers a dividend yield of 2.50%.

ICICI Bank Ltd. (IBN)

During the second quarter Grantham upped his position in ICICI Bank by 1363.34%. The guru purchased a total of 210,500 shares which were trading at an estimated average price of $43.54 per share. The price has since then dropped 24.8%.

Grantham currently holds on to 225,940 shares of ICICI Bank, representing 0.04% of the company’s shares outstanding and 0.023% of his total portfolio.

Grantham’s holding history as of the second quarter:

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ICICI Bank is a regional bank in Asia that offers a wide range of banking products and services to corporate and retail customers through a variety of delivery channels.

ICICI Bank’s historical revenue and net income:

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The Peter Lynch Chart suggests that ICIC Bank is currently undervalued:

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ICICI Bank has a market cap of $18.9 billion. Its shares are currently trading at around $32.76 with a P/E ratio of 11.30, a P/S ratio of 2.30 and a P/B ratio of 1.70. The company had an annual average earnings growth of 36.1% over the past 10 years.

Mobile Telesystems OJSC (MBT)

During the second quarter Grantham upped his stake in Mobile Telesystems by 698.73%. The guru bought a total of 2,210,092 shares when the price was trading at an estimated average price of $19.54 per share. The price per share is up 4.5% from the average purchase price.

Grantham now owns 2,526,392 shares of Mobile Telesystems, representing 0.25% of the company’s shares outstanding and 0.12% of his total portfolio.

Grantham’s holding history of Mobile Telesystems as of the second quarter:

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Mobile Telesystems is the provider of mobile cellular communications services in Russia, Uzbekistan, Turkmenistan, Armenia and Ukraine. In addition to standard voice services, it offers its subscribers value added services, including voice mail, text messaging, general packet radio service and many other services.

Mobile Telesystems’ historical revenue and net income:

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The Peter Lynch Chart shows that Mobil Telesystems currently appears to be overvalued:

1376507876006.png

Mobile Telesystems has a market cap of $20.25 billion. Its shares are currently trading at around $20.36 with a P/E ratio of 20.10, a P/S ratio of 1.60 and a P/B ratio of 5.80. The company had an annual average earnings growth of 14% over the past 10 years.

Check out Jeremy Grantham’s second quarter portfolio here.

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