According to data released today, John Burbank (Trades, Portfolio), $3.4 billion global investment firm Passport Capital’s founder, introduced 58 new stocks into his portfolio in the fourth quarter, for a total of 141 positions. This portfolio is valued at $2.94 billion, having quarter-over-quarter turnover of 30%.
Passport’s investing strategy consists of a mix of macroeconomic analysis, fundamental research and quantitative tools.
The Largest New Buys
Gaming and Leisure Properties Inc. (GLPI, Financial)
Burbank purchased 2,213,948 shares of Gaming and Leisure Properties Inc. in a position absorbing 3.8% of the portfolio. The shares’ price averaged $47 in quarter four.
Gaming and Leisure Properties spun off of Penn National Gaming Inc. on Nov. 1, 2013, and became the first gaming-focused real estate investment trust in January of this year. GLPI Inc. has a market cap of $3.46 billion; its shares were traded at around $38.80.
Burbank purchased 1,635,500 shares of 58.com Inc., reflecting 2.1% of the portfolio. The fourth quarter’s average price for the stock was $32.
58.com Inc. is China’s largest online marketplace. It has a market cap of $2.79 billion, and its shares were traded at around $35.08 with a P/E ratio of 337.00 and P/S ratio of 22.30.
Valero Energy Corp. (VLO, Financial)
Burbank acquired 949,885 Valero Energy shares in a position worth 1.6% of the portfolio’s size. The stock’s price averaged $42 in quarter four.
Valero Energy Corp. was incorporated in Delaware in 1981 under the name Valero Refining and Marketing Company. Valero Energy Corp. has a market cap of $26.44 billion; its shares were traded at around $49.01 with a P/E ratio of 11.20 and P/S ratio of 0.20. The dividend yield of Valero Energy Corp. stocks is 1.90%. Valero Energy Corp. had an annual average earnings growth of 1.40% over the past 10 years.
Plains GP Holdings LP (PAGP, Financial)
Burbank purchased 1,292,107 Plains GP Holdings shares in a holding reflecting 1.2% of the portfolio. Its fourth quarter share price averaged $24.
Plains GP Holdings LP has a market cap of $3.61 billion; its shares were traded at around $27.28 with and P/S ratio of 0.10. The dividend yield of Plains GP Holdings LP stocks is 0.50%.
Twitter Inc. (TWTR, Financial)
Burbank purchased 599,175 shares of Twitter in a position worth 1.2% of the portfolio. Twitter’s fourth quarter share price was around $50 on average in quarter four.
Twitter is a public, real-time conversation platform with around 240 million active users. Twitter Inc. has a market cap of $30.76 billion; its shares were traded at around $56.47 with and P/S ratio of 57.40.
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