(GuruFocus, July 7, 2009) Wilbur Ross, the billionaire made fortune by investing in distressed companies in steel and coal. This is from the entry of Wilbur Ross in Wikipedia:
Recently, he is on the record in an interview with CNBC to say the recovery will be well into 2010.
Much of Wilbur’s investment activity is not in stocks, and therefore not tracked by GuruFocus. However, he does has a very small equity portfolio that we keep a record of and that portfolio is not doing very well since December 31, 2009, the last time he file record for. Since the beginning of the year, the portfolio matched S&P 500 Index but much more volatile.
Here is a brief survey of the four stocks he own:
No. 1: Assured Guaranty Ltd. (AGO, Financial), Weightings: 65.45% - 12,166,396 Shares
Assured Guaranty is a Bermuda-based holding company providing credit enhancement products to the municipal finance structured finance and mortgage markets. Assured Guaranty Ltd. has a market cap of $1.07 billion; its shares were traded at around $11.88 with a P/E ratio of 8.2 and P/S ratio of 2.1. The dividend yield of Assured Guaranty Ltd. stocks is 1.5%.
Ross acquired 12.1 million shares of AGO in 2Q08 when the stock was around $18 per shares.
No. 2: International Coal Group Inc. (ICO, Financial), Weightings: 26.63% - 24,537,423 Shares
ICG is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin. International Coal Group Inc. has a market cap of $397.6 million; its shares were traded at around $2.57 with a P/E ratio of 43 and P/S ratio of 0.4.
Ross has 24.5 million shares of ICO.
No. 3: Montpelier Re Holdings Ltd. (MRH, Financial), Weightings: 7.45% - 6,896,552 Shares
Montpelier Re Holdings Ltd. through its operating subsidiaries is a premier provider of global specialty property reinsurance products. Montpelier Re Holdings Ltd. has a market cap of $1.18 billion; its shares were traded at around $13.32 with a P/E ratio of 11.4 and P/S ratio of 2.2. The dividend yield of Montpelier Re Holdings Ltd. stocks is 2.2%.
Ross bought 6.9 million shares of MRH in 2Q08 held them since.
No. 4: Valero Energy Corp. (VLO, Financial), Weightings: 0.46% - 45,000 Shares
Valero Energy Corporation owns and operates refineries in the United States and Canada Valero Energy Corp. has a market cap of $8.52 billion; its shares were traded at around $16.65 with a P/E ratio of 3.2 and P/S ratio of 0.1. The dividend yield of Valero Energy Corp. stocks is 3.6%. Valero Energy Corp. had an annual average earning growth of 35.9% over the past 10 years. GuruFocus rated Valero Energy Corp. the business predictability rank of 4.5-star.
Ross bought 45,000 shares of VLO in 4Q08.
Wilbur L. Ross, Jr. is an American investor known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts. In 2005, Forbes magazine listed Ross as one of the world's billionaires for the first time. He was ranked #346 the Forbes list of the 400 richest Americans, with an estimated net worth of $1.7B. According to a recent New York Times article, he has been bottom-fishing in mortgages and mortgage companies. He apparently commands far greater sums than his net worth would suggest.
Recently, he is on the record in an interview with CNBC to say the recovery will be well into 2010.
Much of Wilbur’s investment activity is not in stocks, and therefore not tracked by GuruFocus. However, he does has a very small equity portfolio that we keep a record of and that portfolio is not doing very well since December 31, 2009, the last time he file record for. Since the beginning of the year, the portfolio matched S&P 500 Index but much more volatile.
Here is a brief survey of the four stocks he own:
No. 1: Assured Guaranty Ltd. (AGO, Financial), Weightings: 65.45% - 12,166,396 Shares
Assured Guaranty is a Bermuda-based holding company providing credit enhancement products to the municipal finance structured finance and mortgage markets. Assured Guaranty Ltd. has a market cap of $1.07 billion; its shares were traded at around $11.88 with a P/E ratio of 8.2 and P/S ratio of 2.1. The dividend yield of Assured Guaranty Ltd. stocks is 1.5%.
Ross acquired 12.1 million shares of AGO in 2Q08 when the stock was around $18 per shares.
No. 2: International Coal Group Inc. (ICO, Financial), Weightings: 26.63% - 24,537,423 Shares
ICG is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin. International Coal Group Inc. has a market cap of $397.6 million; its shares were traded at around $2.57 with a P/E ratio of 43 and P/S ratio of 0.4.
Ross has 24.5 million shares of ICO.
No. 3: Montpelier Re Holdings Ltd. (MRH, Financial), Weightings: 7.45% - 6,896,552 Shares
Montpelier Re Holdings Ltd. through its operating subsidiaries is a premier provider of global specialty property reinsurance products. Montpelier Re Holdings Ltd. has a market cap of $1.18 billion; its shares were traded at around $13.32 with a P/E ratio of 11.4 and P/S ratio of 2.2. The dividend yield of Montpelier Re Holdings Ltd. stocks is 2.2%.
Ross bought 6.9 million shares of MRH in 2Q08 held them since.
No. 4: Valero Energy Corp. (VLO, Financial), Weightings: 0.46% - 45,000 Shares
Valero Energy Corporation owns and operates refineries in the United States and Canada Valero Energy Corp. has a market cap of $8.52 billion; its shares were traded at around $16.65 with a P/E ratio of 3.2 and P/S ratio of 0.1. The dividend yield of Valero Energy Corp. stocks is 3.6%. Valero Energy Corp. had an annual average earning growth of 35.9% over the past 10 years. GuruFocus rated Valero Energy Corp. the business predictability rank of 4.5-star.
Ross bought 45,000 shares of VLO in 4Q08.
