FPA Capital Fund is a Los Angeles-based institutional money management firm, employing a disciplined approach to value investing, prudently seeking superior long-term returns while maintaining a focus on capital preservation. During the second quarter the guru traded shares in the following stocks:
The investor reduced its shares in Western Digital Corp. (WDC) by 48.11% with an impact of -5.74% on the portfolio.
The company is the global leader in the hard disk drive market. It develops, manufactures and provides data storage solutions that enable consumers to create, manage, experience and preserve digital content. Its products include HDDs and SSDs.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The return on equity (ROE) of -2.34% and return on assets (ROA) of -0.92% are underperforming 75% of the companies in the Global Data Storage industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.43 is below the industry median of 1.52.
The largest shareholder among the gurus is Andreas Halvorsen (Trades, Portfolio) with 0.59% of outstanding shares followed by T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.56%, First Pacific Advisors (Trades, Portfolio) with 0.49%, David Tepper (Trades, Portfolio) with 0.45%, PRIMECAP Management (Trades, Portfolio) with 0.39% and Charles Brandes (Trades, Portfolio) with 0.35%.
The guru reduced its shares in Aaron's Inc. (AAN) by 51.71%. The transaction had an impact of -3.5% on the portfolio.
It is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. Its business segments are Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise and Manufacturing.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The ROE of 9.77% and ROA of 5.55% are outperforming 66% of the companies in the Global Rental and Leasing Services industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.76 is above the industry median of 0.69.
Diamond Hill Capital (Trades, Portfolio) is the largest shareholder among the gurus with 5.19% of outstanding shares followed by First Pacific Advisors with 3.17%, Mario Gabelli (Trades, Portfolio) with 1.31%, FPA Capital Fund with 0.78%, Brandes with 0.51% and Joel Greenblatt (Trades, Portfolio) with 0.49%.
The firm acquired 65,410 shares in Allegiant Travel Co. (ALGT) with an impact of 2.46% on the portfolio.
It is a leisure travel company. It is engaged in transporting travelers in small cities to leisure destinations. It provides air-related services and products along with air transportation.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 42.80% and ROA of 112.12% are outperforming 85% of the companies in the Global Airlines industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.44 is below the industry median of 0.51.
Jim Simons (Trades, Portfolio) is the largest shareholder among the gurus with 7.14% of outstanding shares followed by FPA Capital Fund with 0.39%, PRIMECAP Management with 0.25%, Ronald Muhlenkamp (Trades, Portfolio) with 0.09%, Chuck Royce (Trades, Portfolio) with 0.07% and Steven Cohen (Trades, Portfolio) with 0.07%.
With an impact of -2.43% on the portfolio, the guru reduced its holding in Dana Inc. (DAN) by 55.18%.
The company provides technology driveline, sealing and thermal-management products for vehicle manufacturers in the light vehicle, medium/heavy vehicle and off-highway markets.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 73.97% and ROA of 14.08% are outperforming 91% of the companies in the Global Auto Parts industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.25 is below the industry median of 0.59.
The largest shareholder among the gurus is Gabelli with 3.48% of outstanding shares followed by Richard Pzena (Trades, Portfolio) with 2.19%, First Pacific Advisors with 1.51%, Royce with 0.84%, Ken Fisher (Trades, Portfolio) with 0.49% and Barrow, Hanley, Mewhinney & Strauss with 0.16%.
ARRIS International PLCÂ (ARRS)’s position was reduced by 22.15% with an impact of -1.85% on the portfolio.
It is a media entertainment and data communications solutions provider. It provides Customer Premises Equipment including set-top, gateway, DSL and cable modem; and Network and Cloud including video infrastructure.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 6.00% and ROA of 2.41% are outperforming 51% of the companies in the Global Communication Equipment industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.54 is below the industry median of 2.11.
HOTCHKIS & WILEY is the largest shareholder among the gurus with 5.54% of outstanding shares followed by First Pacific Advisors 1.76%, Leon Cooperman (Trades, Portfolio) with 0.89%, FPA Capital Fund with 0.66%, NWQ Managers (Trades, Portfolio) with 0.31% and Royce with 0.3%.
The investor reduced its position in Akorn Inc. (AKRX) by 22.15%. The trade had an impact of -1.85% on the portfolio.
It is a generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals and branded as well as private-label over-the-counter consumer health products and animal health pharmaceuticals.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 23.25% and ROA of 9.42% are outperforming 76% of the companies in the Global Drug Manufacturers – Specialty and Generic industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.38 is below the industry median of 2.05.
The largest shareholder among the gurus is John Paulson (Trades, Portfolio) with 6.73% of outstanding shares followed by Columbia Wanger (Trades, Portfolio) with 2.15%, First Pacific Advisors with 0.62%, Richard Snow (Trades, Portfolio) with 0.23% and Robert Olstein (Trades, Portfolio) with 0.18%.
The guru raised its shares in SM Energy Co. (SM) by 80.31%. The trade had an impact of 1.71% on the portfolio.
It is an energy company engaged in the acquisition, exploration, development and production of oil, gas and NGLs in onshore North America.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. While the ROE of -17.12% is underperforming the sector, the ROA of -5.83% is outperforming 53% of the companies in the Global Oil and Gas E&P industry. Financial strength has a rating of 4 out of 10 with a cash-debt ratio of 0.23 that is below the industry median of 0.64.
Sarah Ketterer (Trades, Portfolio) is the largest shareholder among the gurus with 6.21% of outstanding shares followed by First Pacific Advisors with 0.82%, Cohen with 0.54%, Keeley Asset Management Corp (Trades, Portfolio) with 0.12% and Simons with 0.12%.
Veeco Instruments Inc. (VECO)’s stake was cut by 34.74%. The trade had an impact of -1.68% on the portfolio.
The company is a semiconductor manufacturer. It develops thin film equipment, which is used in making electronic devices including LED, power electronics, wireless devices and hard disk drives.
GuruFocus gives the stock a profitability and growth rating of 2 out of 10. The ROE of -16.45% and ROA of -12.32% are underperforming 86% of the companies in the Global Semiconductor Equipment and Materials industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 2.54 is above the industry median of 1.76.
The largest shareholder among the gurus is Mariko Gordon (Trades, Portfolio) with 4.69% of outstanding shares followed by First Pacific Advisors 3.77%, Fisher with 3.74%, Simons with 3.02% and Cohen with 1.08%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
