Spiros Segalas (Trades, Portfolio) invests primarily in equity securities, principally common and preferred stocks of U.S. companies with market capitalizations of at least $1 billion at the time of purchase and that the subadviser considers to have above-average prospects for growth. During the first quarter the fund sold shares of the following stocks:
The firm closed its stake in Chipotle Mexican Grill Inc.Ă‚ (CMG) with an impact of -1.16% on the portfolio.
The company operates Chipotle Mexican Grill restaurants, which serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads, made using fresh ingredients.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 15.61% and ROA of 12.25% that are outperforming 72% of the companies in the Global Restaurants industry. Financial strength has a rating of 9 out of 10 with no debt.
The largest shareholder among the gurus is Frank Sands (Trades, Portfolio) with 5.33% of outstanding shares followed by Jeremy Grantham (Trades, Portfolio) with 2.28%, Ruane Cunniff (Trades, Portfolio) with 0.32%, Jim Simons (Trades, Portfolio) with 0.1%, Pioneer Investments (Trades, Portfolio) with 0.05% and Louis Moore Bacon (Trades, Portfolio) with 0.02%.
The fund closed its stake in Bank of America Corporation (BAC) with an impact of -0.91% on the portfolio.
It is a bank holding and a financial holding company. Through its subsidiaries, it provides banking and nonbanking financial services and products throughout the U.S. and in selected international markets. Deposits increased 6% from the first quarter of 2015 and noninterest expense declined $1.0 billion, or 6%. The company reported net income of 21 cents per diluted common share.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of 5.45% and ROA of 0.72% that are underperforming 71% of the companies in the Global Banks - Global industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.70 that is below the industry median of 3.02.
Dodge & Cox is the company's largest shareholder among the gurus with 2.1% of outstanding shares followed by Barrow, Hanley, Mewhinney & Strauss with 0.83%, HOTCHKIS & WILEY with 0.58%, Ken Fisher (Trades, Portfolio) with 0.42%, Bill Nygren (Trades, Portfolio) with 0.34%, Richard Pzena (Trades, Portfolio) with 0.29%, First Pacific Advisors (Trades, Portfolio) with 0.26% and Steven Romick (Trades, Portfolio) with 0.23%.
The firm exited its stake in Sherwin-Williams Co. (SHW) with an impact of -0.57% on the portfolio.
The company develops, manufactures, distributes and sells paint, coatings and related products to professional, industrial, commercial and retail customers. During the last quarter consolidated net sales increased 5.1%, and diluted net income per common share increased 31.2% from the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 131.05% and ROA of 17.87% that are outperforming 94% of the companies in the Global Specialty Chemicals industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.04 that is below the industry median of 0.80.
The largest shareholder among the gurus is Eric Mindich (Trades, Portfolio) with 0.86% of outstanding shares followed by Steven Cohen (Trades, Portfolio) with 0.38%, Simons with 0.14%, Pioneer Investments (Trades, Portfolio) with 0.06%, Meridian Funds (Trades, Portfolio) with 0.06% and Chris Davis (Trades, Portfolio) with 0.03%.
The fund closed its stake in Dollar General Corp. (DG) with an impact of -0.52% on the portfolio.
The company is a discount retailer in the U.S. that offers a selection of merchandise including consumables, seasonal, home products and apparel. First quarter net sales grew 7%, and same-store sales increased 2.2%. The company reported growth of 23% for diluted earnings per shares.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 22.42% and ROA of 10.77% that are outperforming 89% of the companies in the Global Discount Stores industry. Financial strength has a rating of 7 out of 10 with cash to debt of 0.06 that is below the industry median of 0.53.
Pioneer Investments (Trades, Portfolio) is the company's largest shareholder among the gurus with 0.78% of outstanding shares followed by RS Investment Management (Trades, Portfolio) with 0.22%, Simons with 0.14%, Grantham with 0.08%, Mario Cibelli (Trades, Portfolio) with 0.05%, Manning & Napier Advisors Inc. with 0.05% and Joel Greenblatt (Trades, Portfolio) with 0.03%.
The firm reduced its stake in Morgan Stanley (MS) by 47.29% with an impact of -0.42% on the portfolio.
The company through its subsidiaries and affiliates provides financial products and services to a diversified group of clients and customers including corporations, governments, financial institutions and individuals.
First quarter net revenues were $7.8 billion compared with $9.9 billion a year ago and net income was 55 cents per diluted share compared to $1.18 per diluted share for the same period a year ago.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of 5.87% that is outperforming and ROA of 0.6% that is underperforming 62% of the companies in the Global Capital Markets industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.33.
The largest shareholder among the gurus is Pzena with 0.65% of outstanding shares followed by Diamond Hill Capital (Trades, Portfolio) with 0.61%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.53%, HOTCHKIS & WILEY with 0.37%, Ken Heebner (Trades, Portfolio) with 0.21% and Mario Gabelli with 0.09%.
The fund reduced its stake in The Priceline Group Inc. (PCLN) by 17.54% with an impact of -0.34% on the portfolio.
The company offers consumers accommodation reservations through its Booking.com, priceline.com and agoda.com brands. Priceline's gross profit increased 21% from the prior year, and international operations contributed gross profit had a 23% increase versus a year ago.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROE of 29.76% and ROA of 15.03% that are outperforming 94% of the companies in the Global Leisure industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.54 that is below the industry median of 0.70.
Sands is the company's largest shareholder among the gurus with 1.98% of outstanding shares followed by Steve Mandel (Trades, Portfolio) with 1.59%, Dodge & Cox with 1.37%, Chase Coleman (Trades, Portfolio) with 1.11%, Manning & Napier Advisors with 0.65%, David Rolfe (Trades, Portfolio) with 0.57% and Lee Ainslie (Trades, Portfolio) with 0.53%.
The firm reduced its stake in MasterCard Inc.Ă‚ (MA) by 7.60% with an impact of -0.26% on the portfolio.
It is a technology company in the payments industry that connects consumers, financial institutions, merchants, governments and businesses, enabling them to use electronic forms of payment instead of cash and checks.
First quarter net income decreased 6%, and earnings per share decreased 3%. The company reported an increase of 10% for net revenue.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 61.47% and ROA of 24.42% that are outperforming 98% of the companies in the Global Credit Services industry. Financial strength has a rating of 7 out of 10 with cash to debt of 1.86.
The largest shareholder among the gurus is Tom Russo (Trades, Portfolio) with 0.88% of outstanding shares followed by Segalas with 0.8%, Ruane Cunniff (Trades, Portfolio) with 0.47%, Mandel with 0.46%, Warren Buffett (Trades, Portfolio) with 0.45% and Chuck Akre (Trades, Portfolio) with 0.43%.
The fund reduced its stake in Amazon.com Inc. (AMZN) by 4.73% with an impact of -0.24% on the portfolio.
The company sells its products through the website, providing services such as advertising services and co-branded credit card agreements. It also offers electronic devices like Kindle ereaders and Fire tablets.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 9.22% that is outperforming and ROA of 2.04% that is underperforming 60% of the companies in the Global Specialty Retail industry. Financial strength has a rating of 7 out of 10 with cash to debt of 1.93 that is above the industry median of 0.95.
Andreas Halvorsen (Trades, Portfolio) is the company's largest shareholder among the gurus with 0.73% of outstanding shares followed by Davis with 0.56%, Fisher with 0.53%, Sands with 0.49%, Mandel with 0.42%, Grantham with 0.27% and Chase Coleman (Trades, Portfolio) with 0.22%.
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