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FPA Capital Update - High-Impact Reductions in Third Quarter

October 16, 2013 | About:
Sally Jones

Sally Jones

49 followers
The third quarter portfolio of FPA Capital lists 27 stocks with one of them new. The fund’s total value is $799 million, with a quarter-over-quarter turnover is 2%. The portfolio is currently weighted with top three sectors: energy at 39.7%, consumer defensive at 8.8% and technology at 8.2%. FPA Capital has averaged a return of 18.5% over 12 months.

In the third quarter of 2013, FPA Capital reduced 11 positions and sold out one. Here’s a review of their four highest-impact reductions, as of the quarter ending Sept. 30, 2013:

Arrow Electronics Inc. (ARW): Reduced

Impacts Portfolio: -3%

Up 40% over 12 months, Arrow Electronics Inc. has a market cap of $4.87 billion; its shares were traded at around $48.65 with a P/E of 11.80.

Guru Action: As of Sept. 30, 2013, FPA Capital reduced its position by 28.53%, unloading 605,100 shares at an average price of $45.83, gaining 6.4%.

Across a five-year history, the firm has averaged a 165% gain on 845,200 shares bought at an average price of $18.38 per share. Selling 1,214,700 shares at an average price of $37.39 per share, he has gained 30%.

Track historical pricing, revenue and net income:

1381956143403.png



Avnet Inc. (AVT): Reduced

Impacts Portfolio: -2.35%

Up 50% over 12 months, Avnet Inc., an electronics distribution company, has a market cap of $5.77 billion; its shares were traded at around $42.04 with a P/E of 13.20. The dividend is 0.40%.

Guru Action: As of Sept. 30, 2013, FPA Capital reduced its position by 24%, selling 559,600 shares at an average price of $38.62, gaining 8.9% on the holding.

Across a five-year history, the firm has averaged a 24% gain on 46,400 shares bought at an average price of $33.98 per share. Selling 1,426,600 shares at an average price of $32.75 per share, FPA Capital has gained 28%.

Track historical pricing, revenue and net income:

1381957313840.png



Oshkosh Corporation (OSK): Reduced

Impacts Portfolio: -1.72%

Up 70% over 12 months, Oshkosh Corporation, a truck manufacturer, has a market cap of $4.43 billion; its shares were traded at around $50.92 with a P/E of 12.80.

Guru Action: As of Sept. 30, 2013, FPA Capital reduced its position by 33.67%, unloading 364,200 shares at an average price of $44.50, gaining 14.4%.

Holding for 5 gaining quarters, FPA Capital made double-digit or triple-digit gains in every quarter. Gains peaked at 153.3% in the fourth quarter of 2011 when they bought 21,874 shares at an average price of $20.10 per share.

Track historical pricing, revenue and net income:

1381957476612.png

Western Digital Corporation (WDC): Reduced

Impacts Portfolio: -1.69%

Up 91% over 12 months, Western Digital Corporation, a data storage company, has a market cap of $16.35 billion; its shares were traded at around $69.32 with a P/E of 17.80. The dividend is 1.50%.

Guru Action: As of Sept. 30, 2013, FPA Capital reduced his position by 21.62%, unloading 218,300 shares at an average price of $65.31, for a gain of 6.1%.

Over a five-year history, FPA Capital has averaged a 168% gain on 2,031,000 shares bought at an average price of $25.82 per share. Selling 1,531,500 shares at an average price of $50.14 per share, FPA Capital has gained 38%.

Track historical pricing, revenue and net income:

1381957866713.png

FPA Capital's trading summary:



Check out all of FPA Capital's trades and history.

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.

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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: 3.4/5 (7 votes)

Comments

Tannor
Tannor premium member - 1 year ago
Thanks for the article Sally,

If you missed it First Pacific Advisors was featured in the "Value Investor Insight" July Issue. Well worth the read if you haven't already.

(Robert Rodriguez and Dennis Bryan of FPA Capital) http://stks.co/gpZL
vgm
Vgm - 1 year ago
Thanks Sally.

And thanks Tannor - great link!
Sally Jones
Sally Jones - 1 year ago
Most appreciated. Thank you so much!

Please leave your comment:


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