Steven Romick of FPA Crescent Fund reported his second quarter portfolio. These are the details of buys and sells.
Steven Romick runs a mutual fund that can short stocks. Since he can short, which hedges the market declines, his fund has less volatility than the market average. Steven Romick has achieved outstanding performances. His fund averaged more than 11% for the past 10 years, as the market lost money during the same period.
As indicated in his latest shareholder letters, Steven Romick is very cautious right now. He is not finding a lot of values in the market.
Steven Romick buys The Travelers Companies Inc., sells Assurant Inc. during the 3-months ended 06/30/2010, according to the most recent filings of his investment company, FPA Crescent Fund. Steven Romick owns 71 stocks with a total value of $1.2 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 Steven Romick
Wal-Mart Stores, Inc. is the world's largest retailer. Walmart Stores Inc. has a market cap of $193.05 billion; its shares were traded at around $52.04 with a P/E ratio of 13.48 and P/S ratio of 0.47. The dividend yield of Walmart Stores Inc. stocks is 2.33%. Walmart Stores Inc. had an annual average earning growth of 11.1% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.
Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental Petroleum Corp. has a market cap of $63.61 billion; its shares were traded at around $78.32 with a P/E ratio of 15.45 and P/S ratio of 4.13. The dividend yield of Occidental Petroleum Corp. stocks is 1.94%. Occidental Petroleum Corp. had an annual average earning growth of 13.6% over the past 10 years.
Aon Corporation is a holding company whose operating subsidiaries carry onbusiness in three distinct segments: insurance brokerage and other services; consulting; and insurance underwriting. Aon has a market cap of $10.38 billion; its shares were traded at around $38.37 with a P/E ratio of 11.84 and P/S ratio of 1.37. The dividend yield of Aon stocks is 1.56%. Aon had an annual average earning growth of 2.7% over the past 10 years.
Covidien PLC, formerly Covidien Ltd, is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. Covidien Ltd. has a market cap of $18.61 billion; its shares were traded at around $37.11 with a P/E ratio of 11.21 and P/S ratio of 1.74. The dividend yield of Covidien Ltd. stocks is 1.94%.
Ensco International plc, formerly ENSCO International Incorporated, is a provider of offshore contract drilling services to the international oil and gas industry. Ensco International Inc. has a market cap of $6.13 billion; its shares were traded at around $42.87 with a P/E ratio of 10.16 and P/S ratio of 3.15. The dividend yield of Ensco International Inc. stocks is 1.81%. Ensco International Inc. had an annual average earning growth of 23.9% over the past 10 years. GuruFocus rated Ensco International Inc. the business predictability rank of 3.5-star.
WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. Wellpoint Inc. has a market cap of $21.29 billion; its shares were traded at around $53.25 with a P/E ratio of 8.12 and P/S ratio of 0.33. Wellpoint Inc. had an annual average earning growth of 21.6% over the past 10 years.
Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $132.31 billion; its shares were traded at around $16.46 with a P/E ratio of 7.41 and P/S ratio of 2.65. The dividend yield of Pfizer Inc stocks is 4.37%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Abbott Laboratories has a market cap of $78.32 billion; its shares were traded at around $50.74 with a P/E ratio of 12.94 and P/S ratio of 2.55. The dividend yield of Abbott Laboratories stocks is 3.47%. Abbott Laboratories had an annual average earning growth of 7.3% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 4.5-star.
Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. Apache Corp. has a market cap of $33.74 billion; its shares were traded at around $92.62 with a P/E ratio of 11.46 and P/S ratio of 3.92. The dividend yield of Apache Corp. stocks is 0.65%. Apache Corp. had an annual average earning growth of 16.6% over the past 10 years. GuruFocus rated Apache Corp. the business predictability rank of 3-star.
Omnicare, Inc., a Fortune five hundred company based in Covington, Kentucky, is a provider of pharmaceutical care for the elderly. Omnicare Inc. has a market cap of $2.46 billion; its shares were traded at around $20.83 with a P/E ratio of 8.23 and P/S ratio of 0.4. The dividend yield of Omnicare Inc. stocks is 0.62%. Omnicare Inc. had an annual average earning growth of 7.8% over the past 10 years.
Vodafone AirTouch Plc is the world's largest international mobile communications firm. Vodafone Group Plc has a market cap of $130.66 billion; its shares were traded at around $24.84 with and P/S ratio of 1.84. The dividend yield of Vodafone Group Plc stocks is 5.11%.
American Greetings Corporation is the world's largest publicly held creator, manufacturer and distributor of greeting cards and social expression products. American Greetings Corp. has a market cap of $832.75 million; its shares were traded at around $20.81 with a P/E ratio of 8.19 and P/S ratio of 0.51. The dividend yield of American Greetings Corp. stocks is 2.69%. American Greetings Corp. had an annual average earning growth of 8.3% over the past 5 years.
St. Paul Travelers is a provider of commercial property-liability insurance and asset management services. The Travelers Companies Inc. has a market cap of $23.98 billion; its shares were traded at around $51.03 with a P/E ratio of 8.05 and P/S ratio of 0.97. The dividend yield of The Travelers Companies Inc. stocks is 2.82%. The Travelers Companies Inc. had an annual average earning growth of 28.3% over the past 5 years.
Assurant Inc is a premier provider of specialized insurance products and related services in North America and selected other international markets. Assurant Inc. has a market cap of $4.13 billion; its shares were traded at around $38.72 with a P/E ratio of 7.89 and P/S ratio of 0.47. The dividend yield of Assurant Inc. stocks is 1.65%. Assurant Inc. had an annual average earning growth of 7.7% over the past 5 years.
Steven Romick runs a mutual fund that can short stocks. Since he can short, which hedges the market declines, his fund has less volatility than the market average. Steven Romick has achieved outstanding performances. His fund averaged more than 11% for the past 10 years, as the market lost money during the same period.
As indicated in his latest shareholder letters, Steven Romick is very cautious right now. He is not finding a lot of values in the market.
Steven Romick buys The Travelers Companies Inc., sells Assurant Inc. during the 3-months ended 06/30/2010, according to the most recent filings of his investment company, FPA Crescent Fund. Steven Romick owns 71 stocks with a total value of $1.2 billion. These are the details of the buys and sells.
- New Purchases: TRV,
- Added Positions: ABT, AM, AON, APA, COV, ESV, OCR, OXY, PFE, VOD, WLP, WMAR, WMT,
- Sold Out: AIZ,
This is the sector weightings of his portfolio:
These are the top 5 holdings of Steven Romick
- ENSCO International Inc. (ESV) - 3,840,000 shares, 9.62% of the total portfolio. Shares added by 25.9%
- Covidien Ltd. (COV) - 2,721,000 shares, 6.97% of the total portfolio. Shares added by 41.35%
- Aon (AON) - 2,790,000 shares, 6.6% of the total portfolio. Shares added by 44.94%
- Occidental Petroleum Corp. (OXY) - 1,268,000 shares, 6.24% of the total portfolio. Shares added by 56.54%
- WalMart Stores Inc. (WMT) - 1,500,000 shares, 4.6% of the total portfolio. Shares added by 150%
Added: Walmart Stores Inc. (WMT, Financial)
Steven Romick added to his holdings in Walmart Stores Inc. by 150%. His purchase prices were between $48.8 and $55.53, with an estimated average price of $52.5. The impact to his portfolio due to this purchase was 2.76%. His holdings were 1,500,000 shares as of 06/30/2010.Wal-Mart Stores, Inc. is the world's largest retailer. Walmart Stores Inc. has a market cap of $193.05 billion; its shares were traded at around $52.04 with a P/E ratio of 13.48 and P/S ratio of 0.47. The dividend yield of Walmart Stores Inc. stocks is 2.33%. Walmart Stores Inc. had an annual average earning growth of 11.1% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.
Added: Occidental Petroleum Corp. (OXY, Financial)
Steven Romick added to his holdings in Occidental Petroleum Corp. by 56.54%. His purchase prices were between $77.66 and $89.99, with an estimated average price of $83.65. The impact to his portfolio due to this purchase was 2.25%. His holdings were 1,268,000 shares as of 06/30/2010.Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental Petroleum Corp. has a market cap of $63.61 billion; its shares were traded at around $78.32 with a P/E ratio of 15.45 and P/S ratio of 4.13. The dividend yield of Occidental Petroleum Corp. stocks is 1.94%. Occidental Petroleum Corp. had an annual average earning growth of 13.6% over the past 10 years.
Added: Aon (AON, Financial)
Steven Romick added to his holdings in Aon by 44.94%. His purchase prices were between $37.72 and $44.26, with an estimated average price of $41.04. The impact to his portfolio due to this purchase was 2.05%. His holdings were 2,790,000 shares as of 06/30/2010.Aon Corporation is a holding company whose operating subsidiaries carry onbusiness in three distinct segments: insurance brokerage and other services; consulting; and insurance underwriting. Aon has a market cap of $10.38 billion; its shares were traded at around $38.37 with a P/E ratio of 11.84 and P/S ratio of 1.37. The dividend yield of Aon stocks is 1.56%. Aon had an annual average earning growth of 2.7% over the past 10 years.
Added: Covidien Ltd. (COV, Financial)
Steven Romick added to his holdings in Covidien Ltd. by 41.35%. His purchase prices were between $39.5 and $52.28, with an estimated average price of $45.1. The impact to his portfolio due to this purchase was 2.04%. His holdings were 2,721,000 shares as of 06/30/2010.Covidien PLC, formerly Covidien Ltd, is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. Covidien Ltd. has a market cap of $18.61 billion; its shares were traded at around $37.11 with a P/E ratio of 11.21 and P/S ratio of 1.74. The dividend yield of Covidien Ltd. stocks is 1.94%.
Added: Ensco International Inc. (ESV, Financial)
Steven Romick added to his holdings in Ensco International Inc. by 25.9%. His purchase prices were between $34.45 and $51.95, with an estimated average price of $42.39. The impact to his portfolio due to this purchase was 1.98%. His holdings were 3,840,000 shares as of 06/30/2010.Ensco International plc, formerly ENSCO International Incorporated, is a provider of offshore contract drilling services to the international oil and gas industry. Ensco International Inc. has a market cap of $6.13 billion; its shares were traded at around $42.87 with a P/E ratio of 10.16 and P/S ratio of 3.15. The dividend yield of Ensco International Inc. stocks is 1.81%. Ensco International Inc. had an annual average earning growth of 23.9% over the past 10 years. GuruFocus rated Ensco International Inc. the business predictability rank of 3.5-star.
Added: Wellpoint Inc. (WLP, Financial)
Steven Romick added to his holdings in Wellpoint Inc. by 69.16%. His purchase prices were between $49.57 and $65.34, with an estimated average price of $55.02. The impact to his portfolio due to this purchase was 1.44%. His holdings were 1,130,000 shares as of 06/30/2010.WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. Wellpoint Inc. has a market cap of $21.29 billion; its shares were traded at around $53.25 with a P/E ratio of 8.12 and P/S ratio of 0.33. Wellpoint Inc. had an annual average earning growth of 21.6% over the past 10 years.
Added: Pfizer Inc (PFE, Financial)
Steven Romick added to his holdings in Pfizer Inc by 53.47%. His purchase prices were between $14.28 and $17.29, with an estimated average price of $15.97. The impact to his portfolio due to this purchase was 1.19%. His holdings were 3,760,000 shares as of 06/30/2010.Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $132.31 billion; its shares were traded at around $16.46 with a P/E ratio of 7.41 and P/S ratio of 2.65. The dividend yield of Pfizer Inc stocks is 4.37%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
Added: Abbott Laboratories (ABT, Financial)
Steven Romick added to his holdings in Abbott Laboratories by 33.01%. His purchase prices were between $45.86 and $53.06, with an estimated average price of $49.28. The impact to his portfolio due to this purchase was 0.9%. His holdings were 1,217,000 shares as of 06/30/2010.Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Abbott Laboratories has a market cap of $78.32 billion; its shares were traded at around $50.74 with a P/E ratio of 12.94 and P/S ratio of 2.55. The dividend yield of Abbott Laboratories stocks is 3.47%. Abbott Laboratories had an annual average earning growth of 7.3% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 4.5-star.
Added: Apache Corp. (APA, Financial)
Steven Romick added to his holdings in Apache Corp. by 31%. His purchase prices were between $84.51 and $109.87, with an estimated average price of $97.4. The impact to his portfolio due to this purchase was 0.83%. His holdings were 655,000 shares as of 06/30/2010.Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. Apache Corp. has a market cap of $33.74 billion; its shares were traded at around $92.62 with a P/E ratio of 11.46 and P/S ratio of 3.92. The dividend yield of Apache Corp. stocks is 0.65%. Apache Corp. had an annual average earning growth of 16.6% over the past 10 years. GuruFocus rated Apache Corp. the business predictability rank of 3-star.
Added: Omnicare Inc. (OCR, Financial)
Steven Romick added to his holdings in Omnicare Inc. by 6.67%. His purchase prices were between $23.85 and $30.38, with an estimated average price of $26.81. The impact to his portfolio due to this purchase was 0.21%. His holdings were 2,240,000 shares as of 06/30/2010.Omnicare, Inc., a Fortune five hundred company based in Covington, Kentucky, is a provider of pharmaceutical care for the elderly. Omnicare Inc. has a market cap of $2.46 billion; its shares were traded at around $20.83 with a P/E ratio of 8.23 and P/S ratio of 0.4. The dividend yield of Omnicare Inc. stocks is 0.62%. Omnicare Inc. had an annual average earning growth of 7.8% over the past 10 years.
Added: Vodafone Group Plc (VOD, Financial)
Steven Romick added to his holdings in Vodafone Group Plc by 4.19%. His purchase prices were between $18.68 and $23.69, with an estimated average price of $21.29. The impact to his portfolio due to this purchase was 0.17%. His holdings were 3,230,000 shares as of 06/30/2010.Vodafone AirTouch Plc is the world's largest international mobile communications firm. Vodafone Group Plc has a market cap of $130.66 billion; its shares were traded at around $24.84 with and P/S ratio of 1.84. The dividend yield of Vodafone Group Plc stocks is 5.11%.
Added: American Greetings Corp. (AM)
Steven Romick added to his holdings in American Greetings Corp. by 61.25%. His purchase prices were between $19.51 and $25.92, with an estimated average price of $22.75. The impact to his portfolio due to this purchase was -0.12%. His holdings were -268,000 shares as of 06/30/2010.American Greetings Corporation is the world's largest publicly held creator, manufacturer and distributor of greeting cards and social expression products. American Greetings Corp. has a market cap of $832.75 million; its shares were traded at around $20.81 with a P/E ratio of 8.19 and P/S ratio of 0.51. The dividend yield of American Greetings Corp. stocks is 2.69%. American Greetings Corp. had an annual average earning growth of 8.3% over the past 5 years.
New Purchase: The Travelers Companies Inc. (TRV, Financial)
Steven Romick initiated holdings in The Travelers Companies Inc.. His purchase prices were between $48 and $53.92, with an estimated average price of $50.75. The impact to his portfolio due to this purchase was 1.07%. His holdings were 341,000 shares as of 06/30/2010.St. Paul Travelers is a provider of commercial property-liability insurance and asset management services. The Travelers Companies Inc. has a market cap of $23.98 billion; its shares were traded at around $51.03 with a P/E ratio of 8.05 and P/S ratio of 0.97. The dividend yield of The Travelers Companies Inc. stocks is 2.82%. The Travelers Companies Inc. had an annual average earning growth of 28.3% over the past 5 years.
Sold Out: Assurant Inc. (AIZ)
Steven Romick sold out his holdings in Assurant Inc.. His sale prices were between $33.54 and $37.24, with an estimated average price of $35.41.Assurant Inc is a premier provider of specialized insurance products and related services in North America and selected other international markets. Assurant Inc. has a market cap of $4.13 billion; its shares were traded at around $38.72 with a P/E ratio of 7.89 and P/S ratio of 0.47. The dividend yield of Assurant Inc. stocks is 1.65%. Assurant Inc. had an annual average earning growth of 7.7% over the past 5 years.
