GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Global for Resilience – Columbia Management Selling Update

Sally Jones

Sally Jones

49 followers
One of the largest management firms in the U.S., Columbia Management Investment Advisers currently has $305 billion in assets under management. The updated portfolio lists 310 stocks, 24 of them new, a total value at $22.8 billion, with a quarter-over-quarter turnover of 5%. The portfolio is weighted with top three sectors: industrials at 25.9%, technology at 18% and consumer cyclical at 14.5%.

In Columbia’s most recent newsletter, Jeffrey Knight commented on the value of global investments for portfolio resilience:

“Having a broad awareness of the global investment environment is important for investors because it allows them to expand their investment opportunities. Stocks, bonds and real estate among developed countries are still a few of the most common investment types and some of the easiest to analyze. However, investors can also investigate less developed countries and benefit through diversifying their portfolios in emerging markets — often times even focusing geographically on specific regions. As developing countries have become more transparent and understood, investors have put even more effort toward such in-depth research. By thinking globally, it’s clear that investors can expand their potential basket of investments and benefit through greater diversification.”


Columbia made numerous trades in the second quarter. Here are the highest impact reductions and sells:

Ryman Hospitality Properties Inc. (RHP): Reduced

Impacts Portfolio: -0.18%

Current Shares: 3,436,000

Down 17% over 12 months, Ryman Hospitality Properties Inc., the Nashville entertainment and hospitality company, has a market cap of $1.68 billion; its shares were traded at around $33.42 with a P/E ratio of 346.90 and a P/B of 2.30.

Guru Action: As of July 31, 2013, Columbia reduced its position by 25.96%, selling shares at around $37.25. This came after the firm’s reduction as of June 30, 2013, decreasing its position by 40.31%, selling 3,133,795 shares at an average price of $40.86 for a loss of 18.5%.

As of the end of second quarter, the firm has averaged a loss of 14% on 8,160,410 shares bought at an average price of $38.60 per share. On shares sold, the firm averaged a loss of 19% on 3,519,844 shares sold at an average price of $41.08 per share.

Track historical pricing, revenue and net income:

1377797247137.png

Lululemon Athletica (LULU): Reduced

Impacts Portfolio: -0.35%

Current Shares: 2,090,643

Up 7% over 12 months, Lululemon Athletica has a market cap of $7.86 billion; its shares were traded at around $71.73 with a P/E ratio of 37.60.

Guru Action: As of June 30, 2013, Columbia reduced its position by 38.18%, selling 1,291,385 shares at an average price of $72.51 for a loss of 4.5%.

The firm has averaged a gain of 642% on 12,479,434 shares bought at an average price of $9.33 per share. On shares sold, the firm averaged a gain of 19% on 10,388,791 shares sold at an average price of $58.09 per share.

This trading history shows remarkable gains:

1377794964758.png

Track historical pricing, revenue and net income:

1377797427288.png

ON Semiconductor Corporation (ONNN): Reduced

Impacts Portfolio: -0.26%

Current Shares: 3,161,000

Up 17% over 12 months, ON Semiconductor Corporation has a market cap of $3.24 billion; its shares were traded at around $7.32 with a P/B ratio of 2.30.

Guru Action: As of June 30, 2013, Columbia reduced its position by 69.51%, selling 7,206,500 shares at an average price of $8.02 for a loss of 10.1%.

The firm has averaged a loss of 16% on 7,039,231 shares bought at an average price of $8.57 per share. On shares sold, the firm averaged a loss of 7% on 9,770,381 shares sold at an average price of $7.72 per share.

Track historical pricing, revenue and net income:

1377797616435.png

Abercrombie & Fitch Company (ANF): Reduced

Impacts Portfolio: -0.25%

Current Shares: 2,259,543

Up 1% over 12 months, Abercrombie & Fitch Company has a market cap of $2.83 billion; its shares were traded at around $35.90 with a P/E ratio of 12.90.

Guru Action: As of June 30, 2013, Columbia reduced its position by 35.7%, selling 1,254,457 shares at an average price of $49.25 for a loss of 26.6%.

The firm has averaged a loss of 1% on 5,266,422 shares bought at an average price of $36.41 per share. On shares sold, the firm averaged a loss of 15% on 9,173,879 shares sold at an average price of $42.37 per share.

Track historical pricing, revenue and net income:

1377797758953.png

DENTSPLY International Inc. (XRAY): Sold Out

Impacts Portfolio: -0.38%

Up 16% over 12 months, DENTSPLY International Inc. has a market cap of $5.99 billion; its shares were traded at around $42.09 with a P/E ratio of 17.90.

Guru Action: As of June 30, 2013, Columbia sold out its position, selling 2,090,500 shares at an average price of $41.69, for a gain of 1%. The trading history shows the firm held for four quarters, topping out in the first quarter of 2012 for a gain of 10.3% on 1,202,500 shares bought at an average price of $38.19.

Track historical pricing, revenue and net income:

1377797923008.png

Microsemi Corp. (MSCC): Sold Out

Impacts Portfolio: -0.37%

Up 31% over 12 months, Microsemi Corp. has a market cap of $2.41 billion; its shares were traded at around $26.06 with a P/E ratio of 55.80.

Guru Action: As of June 30, 2013, Columbia sold out its position, selling 3,704,000 shares at an average price of $21.36, for a gain of 21.2%.

This remarkable trading history shows five years of gains only.

1377796348198.png

Track historical pricing, revenue and net income:

1377798055563.png

Here is the complete portfolio of Columbia Wanger.



1. Columbia Wanger's Undervalued Stocks

2. Columbia Wanger's Top Growth Companies

3. Columbia Wanger's High Yield stocks

4. Stocks that Columbia Wanger keeps buying

Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.

GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.

If you are not a Premium Member, we invite you for a 7-day Free Trial.

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."

Rating: 1.0/5 (2 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide