1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Grass Hopper
Grass Hopper
Articles (550)  | Author's Website |

Sequoia Fund Comments on Valeant Pharmaceuticals, Advance Auto Parts, Berkshire Hathaway, and Precision Castparts

March 07, 2014 | About:

Sequoia benefited greatly from two transformative acquisitions announced in 2013: Valeant’s purchase of Bausch & Lomb and Advance Auto Parts’ purchase of General Parts International. Both deals were game changers which will significantly increase these two companies’ earnings beginning in 2014. While we’ve long been partial to companies that can grow organically, Sequoia’s returns have been boosted considerably by companies that may have limited organic growth opportunities but have done smart serial acquisitions, such as Valeant Pharmaceuticals and Berkshire Hathaway. Precision Castparts has been another serial acquirer that has created great value for shareholders.

We take considerable pride in our ownership of a fine collection of businesses and are pleased to report that of our top 10 holdings at year-end, eight outperformed the S&P Index and seven delivered a total shareholder return of at least 42%. Our top performing stock for the year was also our largest holding, Valeant Pharmaceuticals. It nearly doubled in 2013, rising 96%. At year-end, Valeant constituted 16.5% of the value of the Fund.

Source: Sequoia Fund 2013 Annual Shareholder Letter

About the author:


Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


GuruFocus has detected 2 Warning Signs with Valeant Pharmaceuticals International Inc $VRX.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

User Generated Screeners


sbeccuegfSearch for safety
retired1InsiderGuruOwnership
vikas_salgiaSHAREHOLDER RETURN
CogitoGerman, Profitable and Cheap
pbarker46Search for safety & value
peromastiffLarge Cap/Low Vol
andrewgu999A
rbar_164ASX High ROC Screen
aheffernanINSIDERS
aheffernanHIGH DIVIDEND STOCKS
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)
FEEDBACK