You may not know Westport Fund, but the fund has beaten S&P500 in 9 out of the last 10 years, all by significant margins. The fund managers like to buy companies with two proven characteristics: low valuation and improving financial fundamentals. This is the Q1 portfolio update.
When do they sell? They sell if a negative change in the company's fundamentals has occurred since or was missed in its initial analysis or upon re-analysis when a stock reaches a pre-determined price objective.
The buys Ishares Russell 2000 Index, Beckman Coulter Inc., sells Ims Health Inc. during the 3-months ended 03/31/2010, according to the most recent filings of his investment company, Westport Asset Management. Westport Asset Management owns 69 stocks with a total value of $1.1 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Westport Asset Management
Teradata Corporation is the world's largest company focused on raising intelligence through data warehousing and enterprise analytics. Teradata Corp has a market cap of $5.48 billion; its shares were traded at around $32.88 with a P/E ratio of 20.4 and P/S ratio of 3.2.
Republic Services, Inc., is a provider of services in the domestic non-hazardous solid waste industry. Republic Services Inc. has a market cap of $11.47 billion; its shares were traded at around $30.1 with a P/E ratio of 19.7 and P/S ratio of 1.4. The dividend yield of Republic Services Inc. stocks is 2.5%. Republic Services Inc. had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated Republic Services Inc. the business predictability rank of 4.5-star.
Praxair is one of the largest industrial gases companies in North and South America. Praxair Inc. has a market cap of $24.65 billion; its shares were traded at around $80.51 with a P/E ratio of 19.3 and P/S ratio of 2.8. The dividend yield of Praxair Inc. stocks is 2.2%. Praxair Inc. had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Praxair Inc. the business predictability rank of 4-star.
Entergy Corporation engages principally in the following businesses: domestic utility operations, power marketing and trading, global power development, and domestic non-utility nuclear operations. Entergy Corp. has a market cap of $14.89 billion; its shares were traded at around $78.67 with a P/E ratio of 11.7 and P/S ratio of 1.3. The dividend yield of Entergy Corp. stocks is 3.8%. Entergy Corp. had an annual average earning growth of 7.1% over the past 10 years. GuruFocus rated Entergy Corp. the business predictability rank of 2.5-star.
FEI Company is a leader in the design, manufacture, sale and service of products based on focused charged particle beam technology. Fei Company has a market cap of $831.9 million; its shares were traded at around $21.94 with a P/E ratio of 35.9 and P/S ratio of 1.4.
LENDER PROCESSING SERVICES, INC. is a provider of integrated technology and services to the mortgage industry. Lender Processing has a market cap of $3.44 billion; its shares were traded at around $36.08 with a P/E ratio of 10.9 and P/S ratio of 1.5. The dividend yield of Lender Processing stocks is 1.1%.
The principal business of Universal Health Services, Inc. Universal Health Services Inc. has a market cap of $3.71 billion; its shares were traded at around $37.7 with a P/E ratio of 14.9 and P/S ratio of 0.7. The dividend yield of Universal Health Services Inc. stocks is 0.5%. Universal Health Services Inc. had an annual average earning growth of 11.9% over the past 10 years. GuruFocus rated Universal Health Services Inc. the business predictability rank of 4.5-star.
American Eagle Outfitters is a specialty retailer of all-American casual apparel, accessories, and footwear for men and women between the ages of 16 and 34. American Eagle Outfitters Inc. has a market cap of $3.3 billion; its shares were traded at around $15.77 with a P/E ratio of 20.8 and P/S ratio of 1.1. The dividend yield of American Eagle Outfitters Inc. stocks is 2.4%. American Eagle Outfitters Inc. had an annual average earning growth of 15.5% over the past 10 years.
Synopsys, Inc. is one of the suppliers of electronic design automation software to the global electronics industry. Synopsys Inc. has a market cap of $3.35 billion; its shares were traded at around $22.36 with a P/E ratio of 15.5 and P/S ratio of 2.5. Synopsys Inc. had an annual average earning growth of 10.6% over the past 10 years.
ISHARES RUSSELL 2000 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the small capitalization sector of the U. Ishares Russell 2000 Index has a market cap of $14.25 billion; its shares were traded at around $70.93 . The dividend yield of Ishares Russell 2000 Index stocks is 1%.
Beckman Coulter, Inc. simplifies and automates laboratory processes used in all phases of the battle against disease. Beckman Coulter Inc. has a market cap of $4.27 billion; its shares were traded at around $61.09 with a P/E ratio of 15.3 and P/S ratio of 1.3. The dividend yield of Beckman Coulter Inc. stocks is 1.2%.
Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third party administration, managed health care, and Medicare set-aside services and programs. Brown & Brown Inc. has a market cap of $2.82 billion; its shares were traded at around $19.82 with a P/E ratio of 18.7 and P/S ratio of 2.9. The dividend yield of Brown & Brown Inc. stocks is 1.6%. Brown & Brown Inc. had an annual average earning growth of 16.2% over the past 10 years. GuruFocus rated Brown & Brown Inc. the business predictability rank of 2.5-star.
Arthur J. Gallagher & Co. and its subsidiaries are engaged in providing insurance brokerage, risk management, employee benefit and other related services to clients in the United States and abroad. Arthur J. Gallagher & Co. has a market cap of $2.6 billion; its shares were traded at around $25.19 with a P/E ratio of 19.1 and P/S ratio of 1.5. The dividend yield of Arthur J. Gallagher & Co. stocks is 5.2%. Arthur J. Gallagher & Co. had an annual average earning growth of 6.1% over the past 10 years.
When do they sell? They sell if a negative change in the company's fundamentals has occurred since or was missed in its initial analysis or upon re-analysis when a stock reaches a pre-determined price objective.
The buys Ishares Russell 2000 Index, Beckman Coulter Inc., sells Ims Health Inc. during the 3-months ended 03/31/2010, according to the most recent filings of his investment company, Westport Asset Management. Westport Asset Management owns 69 stocks with a total value of $1.1 billion. These are the details of the buys and sells.
- New Purchases: BEC, IWM,
- Added Positions: AEO, ETR, FEIC, LPS, PX, RSG, SNPS, TDC, UHS,
- Reduced Positions: AJG, BRO,
This is the sector weightings of his portfolio:
| Consumer Services | 26.8% |
| Industrials | 22.6% |
| Health Care | 14.7% |
| Technology | 8.5% |
| Oil & Gas | 8.2% |
| Consumer Goods | 5.8% |
| Financials | 3.1% |
| Basic Materials | 3% |
| Utilities | 0.7% |
These are the top 5 holdings of Westport Asset Management
- Precision Castparts Corp. (PCP) - 758,101 shares, 8.8% of the total portfolio. Shares added by 1%
- DeVry Inc. (DV) - 1,275,000 shares, 7.61% of the total portfolio.
- Universal Health Services Inc. (UHS) - 2,073,800 shares, 6.66% of the total portfolio. Shares added by 2.14%
- ITT Educational Services Inc. (ESI) - 596,000 shares, 6.14% of the total portfolio.
- Big Lots Inc. (BIG) - 1,313,056 shares, 4.38% of the total portfolio.
Added: Teradata Corp (TDC, Financial)
Westport Asset Management added to his holdings in Teradata Corp by 101.21%. His purchase prices were between $27.66 and $31.43, with an estimated average price of $29.53. The impact to his portfolio due to this purchase was 0.27%. His holdings were 199,600 shares as of 03/31/2010.Teradata Corporation is the world's largest company focused on raising intelligence through data warehousing and enterprise analytics. Teradata Corp has a market cap of $5.48 billion; its shares were traded at around $32.88 with a P/E ratio of 20.4 and P/S ratio of 3.2.
Added: Republic Services Inc. (RSG, Financial)
Westport Asset Management added to his holdings in Republic Services Inc. by 36.36%. His purchase prices were between $25.62 and $29.51, with an estimated average price of $28.11. The impact to his portfolio due to this purchase was 0.21%. His holdings were 300,000 shares as of 03/31/2010.Republic Services, Inc., is a provider of services in the domestic non-hazardous solid waste industry. Republic Services Inc. has a market cap of $11.47 billion; its shares were traded at around $30.1 with a P/E ratio of 19.7 and P/S ratio of 1.4. The dividend yield of Republic Services Inc. stocks is 2.5%. Republic Services Inc. had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated Republic Services Inc. the business predictability rank of 4.5-star.
Added: Praxair Inc. (PX, Financial)
Westport Asset Management added to his holdings in Praxair Inc. by 29.47%. His purchase prices were between $74.01 and $82.82, with an estimated average price of $78.89. The impact to his portfolio due to this purchase was 0.21%. His holdings were 123,000 shares as of 03/31/2010.Praxair is one of the largest industrial gases companies in North and South America. Praxair Inc. has a market cap of $24.65 billion; its shares were traded at around $80.51 with a P/E ratio of 19.3 and P/S ratio of 2.8. The dividend yield of Praxair Inc. stocks is 2.2%. Praxair Inc. had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Praxair Inc. the business predictability rank of 4-star.
Added: Entergy Corp. (ETR, Financial)
Westport Asset Management added to his holdings in Entergy Corp. by 32.14%. His purchase prices were between $75.97 and $83.08, with an estimated average price of $79.26. The impact to his portfolio due to this purchase was 0.17%. His holdings were 92,500 shares as of 03/31/2010.Entergy Corporation engages principally in the following businesses: domestic utility operations, power marketing and trading, global power development, and domestic non-utility nuclear operations. Entergy Corp. has a market cap of $14.89 billion; its shares were traded at around $78.67 with a P/E ratio of 11.7 and P/S ratio of 1.3. The dividend yield of Entergy Corp. stocks is 3.8%. Entergy Corp. had an annual average earning growth of 7.1% over the past 10 years. GuruFocus rated Entergy Corp. the business predictability rank of 2.5-star.
Added: Fei Company (FEIC, Financial)
Westport Asset Management added to his holdings in Fei Company by 207.69%. His purchase prices were between $19.37 and $24.37, with an estimated average price of $22.12. The impact to his portfolio due to this purchase was 0.17%. His holdings were 120,000 shares as of 03/31/2010.FEI Company is a leader in the design, manufacture, sale and service of products based on focused charged particle beam technology. Fei Company has a market cap of $831.9 million; its shares were traded at around $21.94 with a P/E ratio of 35.9 and P/S ratio of 1.4.
Added: Lender Processing (LPS, Financial)
Westport Asset Management added to his holdings in Lender Processing by 23.11%. His purchase prices were between $37.59 and $42.44, with an estimated average price of $39.89. The impact to his portfolio due to this purchase was 0.15%. His holdings were 233,900 shares as of 03/31/2010.LENDER PROCESSING SERVICES, INC. is a provider of integrated technology and services to the mortgage industry. Lender Processing has a market cap of $3.44 billion; its shares were traded at around $36.08 with a P/E ratio of 10.9 and P/S ratio of 1.5. The dividend yield of Lender Processing stocks is 1.1%.
Added: Universal Health Services Inc. (UHS, Financial)
Westport Asset Management added to his holdings in Universal Health Services Inc. by 2.14%. His purchase prices were between $28.75 and $36.59, with an estimated average price of $31.97. The impact to his portfolio due to this purchase was 0.14%. His holdings were 2,073,800 shares as of 03/31/2010.The principal business of Universal Health Services, Inc. Universal Health Services Inc. has a market cap of $3.71 billion; its shares were traded at around $37.7 with a P/E ratio of 14.9 and P/S ratio of 0.7. The dividend yield of Universal Health Services Inc. stocks is 0.5%. Universal Health Services Inc. had an annual average earning growth of 11.9% over the past 10 years. GuruFocus rated Universal Health Services Inc. the business predictability rank of 4.5-star.
Added: American Eagle Outfitters Inc. (AEO, Financial)
Westport Asset Management added to his holdings in American Eagle Outfitters Inc. by 30.61%. His purchase prices were between $15.73 and $19.34, with an estimated average price of $17.21. The impact to his portfolio due to this purchase was 0.13%. His holdings were 320,000 shares as of 03/31/2010.American Eagle Outfitters is a specialty retailer of all-American casual apparel, accessories, and footwear for men and women between the ages of 16 and 34. American Eagle Outfitters Inc. has a market cap of $3.3 billion; its shares were traded at around $15.77 with a P/E ratio of 20.8 and P/S ratio of 1.1. The dividend yield of American Eagle Outfitters Inc. stocks is 2.4%. American Eagle Outfitters Inc. had an annual average earning growth of 15.5% over the past 10 years.
Added: Synopsys Inc. (SNPS, Financial)
Westport Asset Management added to his holdings in Synopsys Inc. by 3.53%. His purchase prices were between $20.95 and $22.81, with an estimated average price of $22.03. The impact to his portfolio due to this purchase was 0.1%. His holdings were 1,493,892 shares as of 03/31/2010.Synopsys, Inc. is one of the suppliers of electronic design automation software to the global electronics industry. Synopsys Inc. has a market cap of $3.35 billion; its shares were traded at around $22.36 with a P/E ratio of 15.5 and P/S ratio of 2.5. Synopsys Inc. had an annual average earning growth of 10.6% over the past 10 years.
New Purchase: Ishares Russell 2000 Index (IWM, Financial)
Westport Asset Management initiated holdings in Ishares Russell 2000 Index. His purchase prices were between $58.68 and $69.23, with an estimated average price of $64.07. The impact to his portfolio due to this purchase was 2.31%. His holdings were 371,500 shares as of 03/31/2010.ISHARES RUSSELL 2000 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the small capitalization sector of the U. Ishares Russell 2000 Index has a market cap of $14.25 billion; its shares were traded at around $70.93 . The dividend yield of Ishares Russell 2000 Index stocks is 1%.
New Purchase: Beckman Coulter Inc. (BEC, Financial)
Westport Asset Management initiated holdings in Beckman Coulter Inc.. His purchase prices were between $63.1 and $69.9, with an estimated average price of $66.74. The impact to his portfolio due to this purchase was 0.46%. His holdings were 80,000 shares as of 03/31/2010.Beckman Coulter, Inc. simplifies and automates laboratory processes used in all phases of the battle against disease. Beckman Coulter Inc. has a market cap of $4.27 billion; its shares were traded at around $61.09 with a P/E ratio of 15.3 and P/S ratio of 1.3. The dividend yield of Beckman Coulter Inc. stocks is 1.2%.
Reduced: Brown & Brown Inc. (BRO, Financial)
Westport Asset Management reduced to his holdings in Brown & Brown Inc. by 32.27%. His sale prices were between $16.5 and $18.29, with an estimated average price of $17.58. The impact to his portfolio due to this sale was -0.35%. Westport Asset Management still held 662,861 shares as of 03/31/2010.Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third party administration, managed health care, and Medicare set-aside services and programs. Brown & Brown Inc. has a market cap of $2.82 billion; its shares were traded at around $19.82 with a P/E ratio of 18.7 and P/S ratio of 2.9. The dividend yield of Brown & Brown Inc. stocks is 1.6%. Brown & Brown Inc. had an annual average earning growth of 16.2% over the past 10 years. GuruFocus rated Brown & Brown Inc. the business predictability rank of 2.5-star.
Reduced: Arthur J. Gallagher & Co. (AJG)
Westport Asset Management reduced to his holdings in Arthur J. Gallagher & Co. by 51.26%. His sale prices were between $22 and $25.73, with an estimated average price of $23.54. The impact to his portfolio due to this sale was -0.38%. Westport Asset Management still held 328,424 shares as of 03/31/2010.Arthur J. Gallagher & Co. and its subsidiaries are engaged in providing insurance brokerage, risk management, employee benefit and other related services to clients in the United States and abroad. Arthur J. Gallagher & Co. has a market cap of $2.6 billion; its shares were traded at around $25.19 with a P/E ratio of 19.1 and P/S ratio of 1.5. The dividend yield of Arthur J. Gallagher & Co. stocks is 5.2%. Arthur J. Gallagher & Co. had an annual average earning growth of 6.1% over the past 10 years.
