David Swensen (Trades, Portfolio), chief investment officer at Yale University, made two new buys in the fourth quarter, one of which was large enough to become the top stake in his portfolio – his purchase of an 8,740,871-share stake in Antero Resources Corp. (AR, Financial).
Swensen bought the stake in Antero, a Denver-based oil and natural gas company, for an average price of $22.26 per share. The transaction had a 56% impact on Swensen’s portfolio.
The stake is 3.15% of Antero Resources’ outstanding shares and 56% of Swensen’s total assets. Seth Klarman (Trades, Portfolio) is Antero Resources’ leading shareholder among the gurus with a stake of 19,167,944 shares. The stake is 6.92% of Antero Resources’ outstanding shares and 7.63% of Klarman’s total assets.
Antero Resources has a P/E of 7, a forward P/E of 51.8, a P/B of 1.2 and a P/S of 1.7. GuruFocus gives Antero Resources a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.
Antero Resources sold for $24.12 per share Tuesday.
Swensen invested in a 93,709-share stake in Shore Bancshares Inc. (SHBI, Financial), a financial holding company headquartered in Easton, Maryland, for an average price of $10.17 per share. The deal had a 0.3% impact on Swensen’s portfolio.
The stake is 0.74% of Shore Bancshares’ outstanding shares and 0.3% of Swensen’s total assets. Jim Simons (Trades, Portfolio) is Shore Bancshares’ leading shareholder among the gurus with a stake of 113,922 shares. The stake is 0.9% of Shore Bancshares’ outstanding shares.
Shore Bancshares has a P/E of 21.5, a forward P/E of 14.2, a P/B of 1.1 and a P/S of 3.1. GuruFocus gives Shore Bancshares a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.
Shore Bancshares sold for $12.03 per share Tuesday.
Swensen sold nearly 99% of his stake in iShares FTSE/Xinhua China 25 Index Fund (FXI, Financial), selling 2,672,300 shares for an average price of $36.92 per share. The transaction had a -29.25% impact on Swensen’s portfolio.
The remaining stake of 31,400 shares is 0.33% of Swensen’s total assets. Jeremy Grantham (Trades, Portfolio) is the fund’s leading shareholder among the gurus with a stake of 509,800 shares. The stake is 0.06% of Grantham’s total assets.
The fund has a P/E of 7.
The fund sold for $32.7 per share Tuesday.
Swensen sold more than 79% of his stake in iShares Trust MSCI EAFE Index Fund (EFA, Financial). He sold 1,504,300 shares for an average price of $59.83 per share. The deal had a -26.6% impact on Swensen’s portfolio.
The remaining stake of 391,100 shares is 6.75% of Swensen’s total assets. Grantham is the fund’s leading shareholder among the gurus with a stake of 593,083 shares in his portfolio. The stake is 0.13% of Grantham’s total assets.
The fund has a P/E of 15.
The fund sold for $56.66 per share Tuesday.
Swensen raised his stake in Vanguard FTSE Emerging Markets ETF (VWO, Financial) by nearly 12%. Swensen purchased 400,300 shares for an average price of $34.28 per share. The acquisition had a 3.85% impact on Swensen’s portfolio.
Swensen’s stake, now 3,810,300 shares, is 36.63% of Swensen’s total assets. The ETF’s leading shareholder among the gurus is Ray Dalio (Trades, Portfolio) with a stake of 73,860,646 shares. The stake is 31.34% of Dalio’s total assets.
The ETF has a P/E of 12.
The ETF sold for $32.8 per share Tuesday.
Swensen sold his 33,927-share stake in Palo Alto Networks Inc. (PANW, Financial), a Santa Clara, California-based network security company, for an average price of $173.37 per share. The divestiture had a -1.8% impact on Swensen’s portfolio.
Palo Alto Networks’ leading shareholder among the gurus is Frank Sands (Trades, Portfolio) with a stake of 3,016,786 shares in his portfolio. The stake is 3.41% of Palo Alto Networks’ outstanding shares and 1.37% of Sands’ total assets.
Palo Alto Networks has a forward P/E of 56.8, a P/B of 22.8 and a P/S of 11.3. GuruFocus gives Palo Alto Networks a Financial Strength rating of 8/10 and a Profitability and Growth rating of 4/10.
Palo Alto Networks sold for $153.33 per share Tuesday.
Swensen sold his 9,260-share stake in Atara Biotherapeutics Inc. (ATRA, Financial), a San Francisco-based biotherapeutic company, for an average price of $30.28 per share. The transaction had a -0.09% impact on Swensen’s portfolio.
Atara Biotherapeutics’ leading shareholder among the gurus is Klarman with a stake of 5,359,632 shares in his portfolio. The stake is 18.68% of Atara Biotherapeutics’ outstanding shares and 2.58% of Klarman’s total assets.
Atara Biotherapeutics has a P/B of 1.4. GuruFocus gives Atara Biotherapeutics a Financial Strength rating of 6/10 and a Profitability and Growth rating of 2/10.
Atara Biotherapeutics sold for $15.75 per share Tuesday.
Swensen sold his 6,238-share stake in Tesaro Inc. (TSRO, Financial), a Waltham, Massachusetts-based oncology-focused biopharmaceutical company, for an average price of $47.98 per share. The deal had a -008% impact on Swensen’s portfolio.
Tesaro’s leading shareholder among the gurus is Steven Cohen (Trades, Portfolio) with a stake of 967,728 shares in his portfolio. The stake is 2.4% of Tesaro’s outstanding shares and 0.42% of Cohen’s total assets.
Tesaro has a P/B of 19.3 and a P/S of 5,162.6. GuruFocus gives Tesaro a Financial Strength rating of 8/10 and a Profitability and Growth rating of 4/10.
Tesaro sold for $41.55 per share Tuesday.
Swensen sold his 4,000-share stake in JPMorgan Chase & Co. (JPM, Financial), a New York-based banking and financial services company, for an average price of $65.22 per share. The deal had a -0.08% impact on Swensen’s portfolio.
JPMorgan Chase’s leading shareholder among the gurus is James Barrow with a stake of 31,244,912 shares in his portfolio. The stake is 0.85% of JPMorgan Chase’s outstanding shares and 3.07% of Barrow’s total assets.
JPMorgan Chase has a P/E of 9.9, a forward P/E of 9.2, a P/B of 1 and a P/S of 2.4. GuruFocus gives JPMorgan Chase a Financial Strength rating of 4/10 and a Profitability and Growth rating of 5/10.
JPMorgan Chase sold for $59.2 per share Tuesday.
Swensen sold his 22,334-share stake in Corcept Therapeutics Inc. (CORT, Financial), a pharmaceutical company, for an average price of $4.54 per share. The transaction had a -0.03% impact on Swensen’s portfolio.
Corcept Therapeutics’ leading shareholder among the gurus is Simons with a stake of 460,400 shares. The stake is 0.42% of Corcept Therapeutics’ outstanding shares.
Corcept Therapeutics has a P/B of 22.4 and a P/S of 8.2. GuruFocus gives Corcept Therapeutics a Financial Strength rating of 3/10 and a Profitability and Growth rating of 3/10.
Corcept Therapeutics sold for $3.87 per share Tuesday.
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