Charles de Vaulx

Charles de Vaulx

Last Update: 2014-08-28
Related: IVA International Fund

Number of Stocks: 98
Number of New Stocks: 5

Total Value: $5,374 Mil
Q/Q Turnover: 8%

Countries: USA JPN SGP FRA CHE NOR FIN HKG TWN MYS KOR GBR DEU BEL
Details: Top Buys | Top Sales | Top Holdings  Embed:

Charles de Vaulx' s Profile & Performance

Profile

Charles de Vaulx is the chief investment officer and portfolio manager at International Value Advisers, LLC (IVA). He joined the firm in May 2008.
Until March 2007, Charles was portfolio manager of the First Eagle Global, Overseas, U.S. Value, Gold and Variable Funds, together with a number of separately managed institutional accounts. He was solely responsible for management of the Sofire Fund Ltd. when it won an Absolute Return Award* for “Fund of the Year” in the global equity category in 2005 and 2006.
In addition to sharing Morningstar's "International Stock Manager of the Year" Award** in 2001 with his co-manager, Charles was runner-up for the same award in 2006.
Charles de Vaulx graduated from the Ecole Superieure de Commerce de Rouen in France and holds the French equivalent of a Master's degree in finance.

Web Page:http://www.ivafunds.com/iva-worldwide-fund

Investing Philosophy

Charles de Vaulx employs a value oriented approach and will seek investments in companies of any size that typically have one or more of the following characteristics: financial strength, temporarily depressed earnings or entrenched franchises. However, the overriding attribute of such companies is that their securities offer fundamental value. He is a global investor as most of his portfolio is invested in international companies.
The portfolio we track for Charles De Vaulx is IVA Worldwide Fund.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of IVA Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201316.9331.55-14.6
20126.6315.4-8.8
2011-2.222.08-4.3
3-Year Cumulative21.9 (6.8%/year)55 (15.7%/year)-33.1 (-8.9%/year)
201017.2215.062.2
200923.0326.46-3.4
5-Year Cumulative75.8 (11.9%/year)125.5 (17.7%/year)-49.7 (-5.8%/year)

Top Ranked Articles

New Guru Added: Charles de Vaulx
As we continue to extend our coverage to global market for GuruFocus Global Membership, we are glad to announce that we have just added Charles de Vaulx into our List of Gurus. We want to point out that Charles de Vaulx was in our List of Gurus before he left First Eagle Funds in 2008. We are happy to have him back, now with IVA Funds. Charles invests extensively in global markets and has generated impressive track records. We will track both of his funds: IVA Worldwide Value Fund and IVA International Value Fund. Read more...
“Patience is a necessary virtue for value investors” – A Look into the International Value Investor Charles de Vaulx
“Patience is a necessary virtue for value investors; patience to see the market recognize some value it was previously ignoring; or, more to the case now, patience to wait for the fat pitch, free of the short-term vagaries of benchmarks.” Read more...
Charles de Vaulx's 2 New Stocks Found in India and Japan
Charles de Vaulx (Trades, Portfolio)’s IVA Funds was only 55% invested in equities on average from Oct. 1, 2013 to March 31, 2014, to protect against risk in light of soaring valuations spurred by quantitative easing and low interest rates. Fund managers have sought out for investments well-capitalized companies with healthy balance sheets to see them through turns in business or recessions. In his semi-annual letter, de Vaulx said: Read more...
IVA International's Charles De Vaulx Reports His Year End Top Stocks
Charles De Vaulx of the IVA Funds reported his third quarter holdings this past week. In October the IVA Funds celebrated their fifth year in the business. The fund maintains a dual investment approach which is split into short- and long-term investments. IVA reports that their short-term (12 to 18 months) investments are in order to preserve capital while their longer term (5 to 10 years) they try to perform better that their equity benchmark. The fund also reported that over the past five years, they achieved both of these goals with their investments.

Read more...
Charles de Vaulx Buys Lockheed Martin Corp., WellPoint Inc., Express Scripts Inc., Sells Waste Management Inc., Northwestern Corp., Orthologic Corp.
Value investor Charles de Vaulx minimizes his investment risk by focusing on securities that are considered to be undervalued by the market. This is the updates of his buys and sells during the 4th quarter of 2006. Charles de Vaulx owns 388 stocks with a total value of $13.4 billion as of 12/31/2006. Read more...
» More Charles de Vaulx Articles

Commentaries and Stories

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Charles de Vaulx's IVA Funds Newsletter
Warren Buffett (Trades, Portfolio) surprised active managers, especially value investors, when he disclosed a feature of his will in his 2013 shareholder letter: Buffett instructed the trustee for his wife’s cash to put 10% of it in short-term government bonds and 90% in a very low-cost S&P 500 Index Fund. He believes the trust’s long-term results from this policy will be superior to those attained by most investors – pension funds, institutions, or individuals – who employ high-fee managers. This is a very different recommendation from his seminal Superinvestors of Graham-and-Doddsville speech in which he illustrated how active, value managers can do far better than indexes over time. More...

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Charles de Vaulx's IVA International Fund Q2 2014 Review
The IVA International Fund (Trades, Portfolio) Class A (NAV) (“the Fund”) ended the quarter on June 30, 2014 with a return of 2.50% compared to the MSCI All Country World Index (ex-U.S.) (“Index”) return of 5.03%. This brings our year-to-date return to 4.46% versus the Index return of 5.56% for the same period. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

“Patience is a necessary virtue for value investors” – A Look into the International Value Investor Charles de Vaulx Charles de Vaulx - “Patience Is A Necessary Virtue For Value Investors” – A Look Into The International Value Investor Charles De Vaulx
“Patience is a necessary virtue for value investors; patience to see the market recognize some value it was previously ignoring; or, more to the case now, patience to wait for the fat pitch, free of the short-term vagaries of benchmarks.” More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Charles de Vaulx's 2 New Stocks Found in India and Japan Charles de Vaulx,IVA International Fund - Charles De Vaulx's 2 New Stocks Found In India And Japan
Charles de Vaulx (Trades, Portfolio)’s IVA Funds was only 55% invested in equities on average from Oct. 1, 2013 to March 31, 2014, to protect against risk in light of soaring valuations spurred by quantitative easing and low interest rates. Fund managers have sought out for investments well-capitalized companies with healthy balance sheets to see them through turns in business or recessions. In his semi-annual letter, de Vaulx said: More...

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Rating: 5.0/5 (1 vote)

Charles de Vaulx's Semi-Annual IVA Funds Letter from the Portfolio Managers
April 30, 2014 More...

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Rating: 5.0/5 (1 vote)

IVA International's Charles De Vaulx Reports His Year End Top Stocks Charles De Vaulx - IVA International's Charles De Vaulx Reports His Year End Top Stocks
Charles De Vaulx of the IVA Funds reported his third quarter holdings this past week. In October the IVA Funds celebrated their fifth year in the business. The fund maintains a dual investment approach which is split into short- and long-term investments. IVA reports that their short-term (12 to 18 months) investments are in order to preserve capital while their longer term (5 to 10 years) they try to perform better that their equity benchmark. The fund also reported that over the past five years, they achieved both of these goals with their investments. More...

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Charles De Vaulx IVA Worldwide Fund Quarterly Review - Fourth Quarter 2013
The IVA Worldwide Fund Class A (NAV) ended the quarter on December 31, 2013 with a return of 3.80% compared to the MSCI All Country World Index ("Index") return of 7.31%. This brings our year-to-date return to 16.93% versus the Index return of 22.80% for the same period. We witnessed another quarter of equity markets trending higher, despite news that the Federal Reserve would begin to taper its bond buying program in 2014 and despite unremarkable economic growth around the world. We found a few opportunities this quarter in what we view as reasonably priced U.S. and European stocks, which helped to offset some trimming in equities that we believe are close to full valuation. Therefore our equity exposure was unchanged over the period at 52.8%. More...

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Rating: 5.0/5 (3 votes)

Charles De Vaulx Annual Investor Letter - Now Is the Time for a Focus on Loss Avoidance
Dear Shareholder, More...

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Rating: 2.5/5 (2 votes)

Charles de Vaulx IVA Worldwide Fund and IVA International Fund Annual Report
Dear Shareholder, More...

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IVA International Fund Third Quarter Review
The IVA International Fund Class A (NAV) account ended the quarter on September 30, 2013 with a return of 5.78% compared to the MSCI All Country World ex-U.S. Index ("Index") return of 10.09%. This brings our year-to-date return to 11.69% versus the Index return of 10.04% for the same period. More...

  • Currently 4.00/5

Rating: 4.0/5 (1 vote)

Charles De Vaulx's Top Third Quarter Stocks
Charles De Vaulx of the IVA Funds reported his third quarter holdings this past week. In October the IVA Funds celebrated their fifth year in the business. The fund maintains a dual investment approach which is split into short- and long-term investments. IVA reports that their short-term (12 to 18 months) investments are in order to preserve capital while their longer term (5 to 10 years) they try to perform better that their equity benchmark. The fund also reported that over the past five years, they achieved both of these goals with their investments. More...

  • Currently 3.00/5

Rating: 3.0/5 (1 vote)

International Value Adviser's De Lardemelle on French Stocks and DeVry
Chuck De Lardemelle, founding partner at Charles de Vaulx [size=13px; ]International Value Advisers, discusses French stocks and why he likes for-profit education company DeVry (DV): More...

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Rating: 4.5/5 (2 votes)

IVA Funds - Five Years in Review
The IVA Funds celebrated their five year anniversary on October 1, 2013. We have a dual investment approach at IVA. Over the short-term (12-18 months), we try to preserve capital, while over the longer term (i.e. over a full economic cycle, 5-10 years), we attempt to perform better than our equity benchmark. Over this five year period we delivered on both of these goals. This was achieved because of our emphasis on protecting the downside, good stock picking, and our multi-asset class approach. Since inception on October 1, 2008 through September 30, 2013, on an annualized basis, the IVA Worldwide Fund Class A (NAV) returned 11.73% versus the MSCI All Country World Index return of 7.71%, and the IVA International Fund Class A (NAV) returned 11.44% versus the MSCI All Country World (ex-U.S) Index return of 6.26%. More...

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Rating: 3.0/5 (2 votes)

Charles De Vaulx - Transcript of Sept. 10, 2013 Conference Call with Investors
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Rating: 3.9/5 (8 votes)

Charles de Vaulx - Buying Good Companies Is Better Than Investing in "Net-Nets"
Charles de Vaulx is a well known name among value investors. More...

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Rating: 2.8/5 (5 votes)

Charles de Vaulx's IVA Worldwide Fund Review Second Quarter 2013
The IVA Worldwide Fund Class A (NAV)(IVWAX) ended the quarter on June 30, 2013 with a return of 0.47% compared to the MSCI All Country World Index ("Index") return of -0.42%. This brings our year-todate return to 6.67% versus the Index return of 6.05% for the same period. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Charles de Vaulx IVA Worldwide Fund Quarterly Review
The IVA Worldwide Fund Class A (NAV) ended the quarter on March 31, 2013 with a return of 6.16% compared to the MSCI All Country World Index (Net) return of 6.50%. Since inception on October 1, 2008, on an annualized basis, the Fund returned 11.64% versus the Index return of 6.89% for the same period. Our equities (ex-gold mining stocks) performed well over the quarter averaging a return of 10.8% versus the Index at 6.5%. The Fund benefited from good stock picking within the technology, consumer discretionary, and health care sectors as well as solid returns from U.S. and Japanese equities. Our technology stocks averaged a return of 16.8% versus the Index at 4.4%, adding 2.2% to the return, led by one of our U.S. holdings that benefited from a takeover battle and one of our Japanese holdings that reported better than expected revenue and profit growth as well as announced a share buyback. Additionally, our consumer discretionary and health care stocks together contributed 1.9% to the return with all individual holdings in positive territory; however, our underweight exposure to healthcare versus the Index detracted from relative results. On the other hand, our holdings in the utilities More...

  • Currently 3.33/5

Rating: 3.3/5 (3 votes)

New Guru Added: Charles de Vaulx
As we continue to extend our coverage to global market for GuruFocus Global Membership, we are glad to announce that we have just added Charles de Vaulx into our List of Gurus. We want to point out that Charles de Vaulx was in our List of Gurus before he left First Eagle Funds in 2008. We are happy to have him back, now with IVA Funds. Charles invests extensively in global markets and has generated impressive track records. We will track both of his funds: IVA Worldwide Value Fund and IVA International Value Fund. More...

  • Currently 2.25/5

Rating: 2.3/5 (12 votes)

Charles de Vaulx Buys Lockheed Martin Corp., WellPoint Inc., Express Scripts Inc., Sells Waste Management Inc., Northwestern Corp., Orthologic Corp.
Value investor Charles de Vaulx minimizes his investment risk by focusing on securities that are considered to be undervalued by the market. This is the updates of his buys and sells during the 4th quarter of 2006. Charles de Vaulx owns 388 stocks with a total value of $13.4 billion as of 12/31/2006. More...

  • Currently 2.00/5

Rating: 2.0/5 (1 vote)

Charles de Vaulx Buys Liberty Media Interactive Co, Liberty Media Capital, Home Depot Inc., Sells Countrywide Financial Corp., Freeport-McMoRan Copper & Gold, GOLDBELT RESOURCES LTD
Charles de Vaulx buys Liberty Media Interactive Co, Liberty Media Capital , Home Depot Inc., Cintas Corp., GALAHAD GOLD, Viacom Inc. CL B, Mirant Corporation Common Stock, Hansen Natural Corp., International Speedway Corp., NovaGold Resources, Inc, Reckson Associates Realty Corp, Fidelity Bankshares Inc., Glenborough Realty Trust Inc., MasterCard Incorporated Class A Common Stock, FileNet Corporation, AnorMed Inc, Energy Partners Ltd., BNP Residential Properties Inc, Sizeler Property Investors Inc, CARREFOUR, etc., sells Countrywide Financial Corp., Freeport-McMoRan Copper & Gold, GOLDBELT RESOURCES LTD, CVS Corp., United States Steel Corp. etc during the 3-months ended 09/30/2006, according to the most recent filings of his investment company. These are the details. More...

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