David J. Winters, manager of the Wintergreen Fund (Trades, Portfolio), was formerly the CEO and CIO of Franklin Mutual Advisers. Winters resigned from the fund in order to form Wintergreen, and the following are his most heavily weighted trades during the third quarter.
Winters increased his stake in Reynolds American Inc. (RAI) by 89.74%, and the deal had an impact of 12.01% on the portfolio.
The company manufactures cigarettes and other tobacco products in the U.S. The company reported an increase of 4.5% for third quarter EPS and a 17% increase for adjusted EPS.
The stock is trading with a P/E ratio of 17.36, and the price has been as high as $49.56 and as low as $31.35 in the past year. It is currently 6.68% below its 52-week high and 47.53% above its 52-week low.
James Barrow (Trades, Portfolio) is the largest guru shareholder of the company with 0.65% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.44% and Winters with 0.19%.
His largest holding decrease was in Franklin Resources Inc. (BEN). Winters reduced his stake by 13.30% with an impact of 2.21% on the portfolio.
The company offers investment services under Franklin, Templeton, Mutual Series, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 brand names. During the last quarter, operating revenues grew by 6% year over year. Operating income grew by 7% from the second quarter and by 6% year over year.
The stock is trading with a P/E ratio of 12.71, and the price has been as high as $59.43 and as low as $36.10 in the past year. It is currently 29.46% below its 52-week high and 16.12% above its 52-week low.
The largest shareholder among the gurus is Richard Pzena (Trades, Portfolio) with 1.28% of outstanding shares, followed by Diamond Hill Capital (Trades, Portfolio) with 0.93% and Bill Nygren (Trades, Portfolio) with 0.89%. David Winters (Trades, Portfolio) holds 0.26% of outstanding shares.
Winters also reduced his stake in Canadian Natural Resources Ltd. (CNQ) by 4.51% with an impact of 0.66% on the portfolio.
The stock is trading with a P/E ratio of 79.95, and the price has been as high as $35.29 and as low as $18.94 in the past year. It is currently 31.43% below its 52-week high and 27.77% above its 52-week low.
First Eagle Investment (Trades, Portfolio) is the largest guru shareholder with 2.15% of outstanding shares, followed by Bruce Berkowitz (Trades, Portfolio) with 0.89% and T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.66%. Winters holds 0.25% of outstanding shares.
Winters also trimmed his stake in Coca-Cola Co. (KO) by 10.42% with an impact of 0.61% on the portfolio.
Coca-Cola owns or licences and markets more than 500 non-alcoholic beverage brands, mainly sparkling beverages, but also a variety of still beverages such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
The stock is trading with a P/E ratio of 27.27, and the price has been as high as $44.77 and as low as $36.56 in the past year. It is currently 4.80% below its 52-week high and 16.58% above its 52-week low.
Coca-Cola's largest shareholder among the gurus is Warren Buffett (Trades, Portfolio) with 9.2% of outstanding shares, followed by Donald Yacktman (Trades, Portfolio) with 0.57% and Jeremy Grantham (Trades, Portfolio) with 0.33%. Winters holds 0.02% of outstanding shares.
Baker Hughes Inc. (BHI) was Winters' new buy during the quarter. He has bought 30,334 shares with an impact of 0.33% on the portfolio.
The company is a supplier of oilfield services, products, technology and systems to the oil and natural gas industry. It also provides industrial and other products and services to the downstream refining, and the process and pipeline industries.Â
The stock is trading with a forward P/E ratio of 285.71, and the price has been as high as $70.45 and as low as $44.11 in the past year. It is currently 23.25% below its 52-week high and 22.58% above its 52-week low.
Dodge & Cox is the largest guru shareholder with 7.74% of outstanding shares, followed by Jeff Ubben (Trades, Portfolio) with 5.33% and Richard Pzena (Trades, Portfolio) with 0.62%. Winters holds 0.01% of outstanding shares.
Winters also reduced his stake in Altria Group Inc. (MO) by 0.09% with an impact of 0.01% on the portfolio.
The company manufactures and sells cigarettes and certain smokeless tobacco products in the U.S. During the third quarter, diluted EPS increased by 9.9% year over year.
The stock is trading with a P/E ratio of 21.64, and the price has been as high as $61.74 and as low as $47.31 in the past year. It is currently 6.71% below its 52-week high and 21.75% above its 52-week low.
The largest shareholder among the gurus is James Barrow (Trades, Portfolio) with 1.14% of outstanding shares, followed by Tom Russo (Trades, Portfolio) with 0.33% and Sarah Ketterer (Trades, Portfolio) with 0.09%. Winters holds 0.06% of outstanding shares.
Winters also reduced his stake in CSX Corp. (CSX) by 0.21%.
The company provides rail-based transportation services, including traditional rail service and the transport of intermodal containers and trailers.
The stock is trading with a P/E ratio of 14.04, and the price has been as high as $37.67 and as low as $24.47 in the past year. It is currently 24.53% below its 52-week high and 16.18% above its 52-week low.
The firm PRIMECAP Management (Trades, Portfolio) is the largest guru shareholder with 0.45% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 0.3% and Jim Simons (Trades, Portfolio) with 0.12%. Winters holds 0.03% of outstanding shares.
