Martin Whitman (Trades, Portfolio) is founder and portfolio manager of the Third Avenue Value Fund. During the second quarter the guru traded shares in the following stocks:
The investor bought 467,694 shares in Avnet Inc. (AVT) with an impact of 1.68% on the portfolio.
The company is a value-added distributor of electronic components, enterprise computer and storage products, IT solutions and services and embedded systems. Its business segments are Electronics Marketing and Technology Solutions.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The return on equity (ROE) of 11.24% and return on assets (ROA) of 4.78% are outperforming 62% of the companies in the Global Electronics Distribution industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.79 is below the industry median of 1.52.
The largest shareholder among the gurus is Richard Pzena (Trades, Portfolio) with 4.36% of outstanding shares followed by First Pacific Advisors (Trades, Portfolio) with 1.39%, HOTCHKIS & WILEY with 1.1%, Tweedy Browne (Trades, Portfolio) with 0.68% and Richard Snow (Trades, Portfolio) with 0.58%.
The Apache Corp. (APA) holding was closed with an impact of -1.09% on the portfolio.
The company is engaged in the oil and gas sector. As an independent energy company, its activities include exploration, development and production of natural gas, crude oil and natural gas liquids.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. While the ROE of -14.51% is underperforming the sector, the ROA of -3.72% is outperforming 58% of the companies in the Global Oil and Gas E&P industry. Financial strength has a rating of 3 out of 10. The cash-debt ratio of 0.18 is below the industry median of 0.64.
Dodge & Cox is the largest shareholder among the gurus with 7.56% of outstanding shares followed by Chris Davis (Trades, Portfolio) with 5.75%, Bill Nygren (Trades, Portfolio) with 1.96%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.93% and Charles Brandes (Trades, Portfolio) with 0.31%.
The investor bought 124,873 shares in EOG Resources Inc. (EOG) with an impact of 1.08% on the portfolio.
The company explores, develops, produces and markets crude oil and natural gas in the U.S., Trinidad and Tobago, United Kingdom, China, Argentina and, from time to time, select other international areas.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. The ROE of -4.65% and ROA of -2.19% are outperforming 57% of the companies in the Global Oil and Gas E&P industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.22 is below the industry median of 0.64.
Spiros Segalas (Trades, Portfolio) is the largest shareholder among the gurus with 0.43% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.38%, Pioneer Investments (Trades, Portfolio) with 0.38%, Steven Cohen (Trades, Portfolio) with 0.23%, Jim Simons (Trades, Portfolio) with 0.13% and John Rogers (Trades, Portfolio) with 0.04%.
The guru reduced his shares in CBS Corp. Class BĂ‚ (CBS) by 44.74% with an impact of -1.03% on the portfolio.
It is a media company. It operates businesses within the media and entertainment industries including cable networks, content production and distribution, television and radio stations, Internet-based businesses and consumer publishing.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The ROE of 11.76% and ROA of 2.28% are outperforming 53% of the companies in the Global Media – Diversified industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.02 is below the industry median of 1.31.
The largest shareholder among the gurus is Larry Robbins (Trades, Portfolio) with 1.35% of outstanding shares followed by HOTCHKIS & WILEY with 0.91%, David Tepper (Trades, Portfolio) with 0.26%, Rogers with 0.2%, Pioneer Investments with 0.15% and PRIMECAP Management with 0.15%.
The investor reduced his shares in PNC Financial Services Group Inc. (PNC) by 12.99%. The transaction had an impact of -0.76% on the portfolio.
The company operates in the financial services domain. Its main business includes retail banking, corporate and institutional banking, asset management and residential mortgage banking.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. While the ROE of 8.29% is underperforming the sector, ROA of 1.10% is outperforming 64% of the companies in the Global Banks - Regional - US industry. Financial strength has a rating of 6 out of 10 with a cash-debt ratio of 0.60 that is below the industry median of 2.09.
Barrow, Hanley, Mewhinney & Strauss is the largest shareholder among the gurus with 0.52% of outstanding shares followed by Pioneer Investments with 0.52%, Tepper with 0.4%, T Rowe Price Equity Income Fund with 0.35%, Brandes with 0.27% and Diamond Hill Capital (Trades, Portfolio) with 0.2%.
Covanta Holding Corp. (CVA)’s position was reduced by 53.54% with an impact of -0.76% on the portfolio.
It is a waste management and consulting services provider. It offers a personalized approach, addressing the toughest challenges while minimizing business risks and protecting the environment.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The ROE of -3.96% and ROA of -0.44% are underperforming 74% of the companies in the Global Waste Management industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.14 is below the industry median of 0.44.
The largest shareholder among the gurus is Simons with 0.4%, Whitman with 0.35%, Mario Gabelli (Trades, Portfolio) with 0.18% and PRIMECAP Management with 0.13%.
The guru reduced his holding in Devon Energy Corp. (DVN) by 19.69%. The trade had an impact of -0.56% on the portfolio.
The company is engaged in the oil and gas sector. It is an independent energy company involved in the exploration, development and production of oil, natural gas and NGLs.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 5.09% and ROA of 1.18% are outperforming 76% of the companies in the Global Oil and Gas E&P industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.20 is below the industry median 0.64.
Barrow, Hanley, Mewhinney & Strauss is the largest shareholder among the gurus with 0.96% of outstanding shares followed by First Eagle Investment (Trades, Portfolio) with 0.21%, Tweedy Browne with 0.61%, John Griffin (Trades, Portfolio) with 0.5% and Simons with 0.38%.
Whitman reduced his shares in Cavco Industries Inc. (CVCO) by 14.20% with an impact of -0.55% on the portfolio.
The company designs and produces factory-built homes under the Cavco Homes, Fleetwood Homes and Palm Harbor Homes brands. It also produces modular homes, park model homes and vacation cabins as well as commercial structures among others.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 10.20% and ROA of 6.59% are outperforming 63% of the companies in the Global Residential Construction industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 2.48 is above the industry median of 0.55.
The largest shareholder among the gurus is Third Avenue Management (Trades, Portfolio) with 4.62% of outstanding shares followed by Whitman with 4.21%, Gabelli with 4.06%, Columbia Wanger (Trades, Portfolio) with 3.65% and Simons with 3.59%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
