Francisco Garcia Parames started Cobas Asset Management and began investing on Jan 1. Before that, he worked at Bestinver in Spain. He bought 53 stocks in the first quarter for the Cobas Seleccion Fund.
Parames described the stocks in his first-quarter commentary: “As indicated in the welcome letter, the portfolio has some very attractive characteristics: ROCE of 30%, PER of 8.4x and a revaluation potential of 70%. In the last five years, and with the exception of some commodities in 2015, it has not been possible to form a portfolio with such a similar combination of quality and potential.”
The largest positions in the Cobas Seleccion Fund are: Aryzta AG (XSWX:ARYN, Financial), Israel Chemicals Ltd. (ICL, Financial), Teekay Corp. (TK, Financial), Teekay LNG Partners LP (TGP, Financial) and Hyundai Motor Co. (XKRX:005387, Financial).
Aryzta AG (XSWX:ARYN, Financial)
Cobas purchased 1,384,820 shares in the first quarter. Its position is roughly 8.39% of the stocks it owns.
Aryzta AG has a market cap of $3.15 billion; its shares traded around $35.50 with a P/E ratio of 82.56 and P/S ratio of 0.75. The trailing 12-month dividend yield of Aryzta AG stocks is 1.64%. The forward dividend yield of Aryzta AG stocks is 1.64%.
Israel Chemicals Ltd. (ICL, Financial)
Cobas purchased 7,746,995 shares in the first quarter. Its position is roughly 6.22% of the stocks it owns.
Israel Chemicals Ltd. has a market cap of $5.58 billion; its shares were traded around $4.34 with and P/S ratio of 1.05. The trailing 12-month dividend yield of Israel Chemicals Ltd stocks is 3.82%. The forward dividend yield of Israel Chemicals Ltd stocks is 3.85%.
Cobas purchased 2,838,888 shares of Teekay Corp. Its position is roughly 4.89% of the stocks it owns.
Teekay Corp has a market cap of $559.1 million; its shares were traded around $6.49 with and P/S ratio of 0.21. The trailing 12-month dividend yield of Teekay Corp stocks is 3.40%. The forward dividend yield of Teekay Corp stocks is 3.29%. Teekay Corp had an annual average earnings growth of 6.30% over the past 10 years.
Teekay LNG Partners LP (TGP, Financial)
Teekay Lng Partners Lp has a market cap of $1.28 billion; its shares were traded around $16.05 with a P/E ratio of 9.38 and P/S ratio of 3.19. The trailing 12-month dividend yield of Teekay Lng Partners Lp stocks is 3.48%. The forward dividend yield of Teekay Lng Partners Lp stocks is 3.48%.
Hyundai Motor Co. (XKRX:005387, Financial)
Cobas purchased 249,373 shares of Hyundai Motor. Its position is roughly 4.33% of the stocks in its portfolio.
Hyundai Motor Co has a market cap of $47821.49 billion; its shares were traded around $113000.00 with a P/E ratio of 8.95 and P/S ratio of 0.51. The trailing 12-month dividend yield of Hyundai Motor Co stocks is 3.71%. The forward dividend yield of Hyundai Motor Co stocks is 6.52%. Hyundai Motor Co had an annual average earnings growth of 4.10% over the past 10 years.
His stock portfolio is on this web page if you are interested in it.
