Richard Perry (Trades, Portfolio) co-founded private investment management firm Perry Capital LLC in 1988, which manages about $14 billion as of August 2008. The following are his largest deals during the first quarter:
The investor exited his stake in Williams Companies Inc. (WMB) with an impact of -10.02% on the portfolio.
It is an energy infrastructure company focused on connecting North America's hydrocarbon resource plays to growing markets for natural gas, NGLs and olefins. During the first quarter the company reported a 15% increase for adjusted EBITDA and 5% growth for WPZ fee-based revenues.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of -9.98% and ROA of -1.41% that are underperforming 84% of the companies in the Global Oil & Gas Midstream industry. Financial strength has a rating of 3 out of 10 with cash to debt 0.01 that is below the industry median of 0.06.
John Griffin (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 0.76% of outstanding shares followed by Daniel Loeb (Trades, Portfolio) with 0.27%, Joel Greenblatt (Trades, Portfolio) with 0.16%, Steven Cohen (Trades, Portfolio) with 0.06%, Stanley Druckenmiller (Trades, Portfolio) with 0.04% and Murray Stahl (Trades, Portfolio) with 0.04%.
The guru reduced his shares in Time Warner Inc. (TWX) by 67.40% with an impact of -6.21% on the portfolio.
It is a media and entertainment company. It operates its business in four segments which includes Turner, Home Box Office, Warner Bros. and Time Inc. First-quarter revenues grew 3% from the same quarter of a year before and adjusted operating income increased 11% from the same quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 17.07% and ROA of 6.46% that are outperforming 71% of the companies in the Global Media - Diversified industry. Financial strength has a rating of 4 out of 10 with cash to debt 0.07 that is below the industry median of 1.67.
The largest shareholder among the gurus is Dodge & Cox with 4.85% of outstanding shares followed by Manning & Napier Advisors, Inc with 0.81%, David Einhorn (Trades, Portfolio) with 0.74%, Pioneer Investments (Trades, Portfolio) with 0.49%, Spiros Segalas (Trades, Portfolio) with 0.49%, Mario Gabelli (Trades, Portfolio) with 0.35% and Cohen with 0.23%.
The investor increased his shares in AerCap Holdings NV. (AER) by 108.97% with an impact of 5.63% on the portfolio.
During the first quarter 131 aircraft transactions executed and the company repurchased 5.4 million shares. Adjusted net income was $301.6 million, compared with $302.1 million for the same period in 2015, and net income was $223.1 million, compared with $311.5 million for the same period of a year before.
The company provides aircraft leasing and aviation finance services. Its activities also include aircraft asset management, corporate services, remarketing of aircraft, collecting rental, maintenance payments and monitoring aircraft maintenance.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 13.38% that is outperforming and ROA of 2.49% that is underperforming 55% of the companies in the Global Airports & Air Services industry. Financial strength has a rating of 4 out of 10 with cash to debt 0.10 that is below the industry median of 0.37.
Einhorn is the company's largest shareholder among the gurus with 4.62% of outstanding shares followed by Donald Smith (Trades, Portfolio) with 4.58%, Perry with 3.02%, Leon Cooperman (Trades, Portfolio) with 2.5%, Louis Moore Bacon (Trades, Portfolio) with 0.44%, Jeremy Grantham (Trades, Portfolio) with 0.05% and Cohen with 0.01%.
The guru exited his stake in Community Health Systems Inc. (CYH) with an impact of -2.99% on the portfolio.
The company provides health care services through the hospitals that it owns and operates in nonurban and selected urban markets throughout the U.S.
Net operating revenues increased 1.8% from the same quarter of a year before and adjusted EBITDA decreased 11.5%. The company reported 68.2% decrease for EPS from continuing operations.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 2.21% and ROA of 0.34% that are underperforming 77% of the companies in the Global Medical Care industry. Financial strength has a rating of 4 out of 10 with cash to debt 0.01 that is below the industry median of 0.40.
The largest shareholder among the gurus is David Tepper (Trades, Portfolio) with 6.29% of outstanding shares followed by Richard Snow (Trades, Portfolio) with 3.09%, Einhorn with 0.99%, Jim Simons (Trades, Portfolio) with 0.9%, Samuel Isaly (Trades, Portfolio) with 0.3%, Jeff Auxier (Trades, Portfolio) with 0.03% and David Dreman (Trades, Portfolio) with 0.01%.
The investor closed his stake in Columbia Pipeline Group Inc. (CPGX) with an impact of -2.54% on the portfolio.
The company operates 15,000 miles of strategically located interstate natural gas pipelines, integrated with the underground storage systems in North America. Net operating earnings from continuing operations was $91.3 million for the first quarter compared with $90.0 million for the prior-year period and adjusted EBITDA (non-GAAP) was $223.8 million compared with $198.1 million for the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of 7.21% and ROA of 2.63% that are outperforming 50% of the companies in the Global Oil & Gas Midstream industry. Financial strength has a rating of 5 out of 10 with cash to debt 0.23 that is above the industry median of 0.06.
T Rowe Price Equity Income Fund (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 1.5% of outstanding shares followed by Paul Tudor Jones (Trades, Portfolio) with 0.15%, Gabelli with 0.09% and Grantham with 0.07%.
The guru closed his stake in Energy Transfer Equity LP. (ETE) with an impact of -2.32% on the portfolio.
The company through its subsidiaries owns and operates natural gas gathering systems, natural gas intrastate pipeline systems and gas processing plants. Adjusted EBITDA in the first quarter had an increase of $46 million compared to the same period last year and distributable cash flow attributable to the partners of ETP had a decrease of $51 million compared to the same period last year.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROA of 1.74% and ROC of 5.38% that are underperforming 63% of the companies in the Global Oil & Gas Midstream industry. Financial strength has a rating of 3 out of 10 with cash to debt 0.02 that is below the industry median of 0.06.
The largest shareholder among the gurus is Simons with 0.19% of outstanding shares followed by Ron Baron (Trades, Portfolio) with 0.03% and Gabelli with 0.01%.
The investor reduced his shares in American International Group Inc. (AIG) by 9.62% and with an impact of -1.66% on the portfolio.
The company through its subsidiaries provides insurance and related services in the U.S. and abroad. Normalized ROE increased by 110 basis points to 8.9% from the first quarter of 2015, and the company returned $4.0 billion to shareholders.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10 with ROE of -0.56% and ROA of -0.09% that are underperforming 85% of the companies in the Global Insurance - Diversified industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.05.
Carl Icahn (Trades, Portfolio) is the company's largest shareholder of the company among the gurus, with 3.97% of outstanding shares followed by HOTCHKIS & WILEY with 1.5%, John Paulson (Trades, Portfolio) with 1%, First Pacific Advisors (Trades, Portfolio) with 0.98%, Steven Romick (Trades, Portfolio) with 0.84%, First Eagle Investment (Trades, Portfolio) with 0.74%, Bill Nygren (Trades, Portfolio) with 0.64% and Richard Pzena (Trades, Portfolio) with 0.59%.
The guru bought 3,063,000 shares in HCA Holdings Inc. (HCA) with an impact of 10.01% on the portfolio.
It is a health care services company. It operates general acute care hospitals, psychiatric hospitals; and rehabilitation hospitals. It also operates freestanding surgery centers.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROA of 6.96% and ROE of 31.00% that are outperforming 65% of the companies in the Global Medical Care industry. Financial strength has a rating of 4 out of 10 with cash to debt 0.03 that is below the industry median of 0.40.
The largest shareholder among the gurus is Larry Robbins (Trades, Portfolio) with 3.75% of outstanding shares followed by Vanguard Health Care Fund (Trades, Portfolio) with 2.99%, Tepper with 0.81%, Perry with 0.71%, Isaly with 0.28%, Greenblatt with 0.16% and Lee Ainslie (Trades, Portfolio) with 0.09%.
The investor reduced his shares in Spectra Energy Corp. (SE) by 7.83% with an impact of -0.37% on the portfolio.
The company through its subsidiaries and equity affiliates owns and operates a portfolio of complementary natural gas-related energy assets. It also owns and operates a crude oil pipeline system.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 2.25% and ROA of 0.49% that are underperforming 67% of the companies in the Global Oil & Gas Midstream industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.02 that is below the industry median of 0.06.
Perry is the compay's largest shareholder among the gurus with 20.54% of outstanding shares followed by Simons with 0.11%, Ray Dalio (Trades, Portfolio) with 0.03%, Pioneer Investments (Trades, Portfolio) with 0.01% and Gabelli with 0.01%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
