The FPA Capital Fund (Trades, Portfolio) manages a $101 million portfolio composed of 22 stocks. It sold shares of the following stocks during the second quarter of 2020.
Noble Energy
The fund cut its position in Noble Energy Inc. (NBL) by 48.89%. The trade had an impact of -3.57% on the portfolio.
The independent oil and gas producer has a market cap of $4.88 billion and an enterprise value of $13.03 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -16.82% and return on assets of -7.09% are underperforming 86% of companies in the oil and gas industry. Its financial strength is rated 2 out of 10. The cash-debt ratio of 0.06 is below the industry median of 0.38.
The largest guru shareholder of the company is Steven Cohen (Trades, Portfolio)’s Point72 Asset Management with 1.13% of outstanding shares, followed by Jim Simons (Trades, Portfolio)’ Renaissance Technologies with 0.76% and PRIMECAP Management (Trades, Portfolio) with 0.72%.
Investors Bancorp
The fund reduced its Investors Bancorp Inc. (ISBC) stake by 44.1%. The portfolio was impacted by -2.84%.
The bank holding company has a market cap of $2 billion and an enterprise value of $1.51 billion.
GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 6.66% and return on assets of 0.7% are underperforming 61% of companies in the banks industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 3.69 is above the industry median of 1.15.
The largest guru shareholder of the company is Michael Price (Trades, Portfolio) with 0.52% of outstanding shares, followed by HOTCHKIS & WILEY with 0.51% and Simons’ firm with 0.51%.
Aaron’s
The fund's Aaron’s Inc.’s (AAN) position was trimmed by 51.52%. The portfolio was impacted by -1.64%.
The furniture retailer has a market cap of $2.88 billion and an enterprise value of $3.33 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of -17.48% and return on assets of -9.47% are underperforming 84% of companies in the business services industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.55 is below the industry median of 0.69.
Some notable gurus shareholders are Barrow, Hanley, Mewhinney & Strauss with 1.49% of outstanding shares, Diamond Hill Capital (Trades, Portfolio) with 1.44% and Mario Gabelli (Trades, Portfolio)’s GAMCO Investors with 0.39%.
Ambarella
The fund reduced its position in Ambarella Inc. (AMBA) by 47.43%, impacting the portfolio by –1.57%.
The developer of special semiconductors has a market cap of $1.65 billion and an enterprise value of $1.25 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of -9.76% and return on assets of -8.44% are underperforming 82% of companies in the semiconductors industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 43.36 is above the industry median of 1.47.
Some notable gurus shareholders are Renaissance Technologies with 4.36% of outstanding shares, Pioneer Investments (Trades, Portfolio) with 1.04% and First Pacific Advisors (Trades, Portfolio) with 0.19%.
Dana
The investment fund trimmed its holding in Dana Inc. (DAN) by 32.1%. The trade had an impact of –1.39% on the portfolio.
The provider of driveline, sealing and auto parts has a market cap of $1.79 billion and an enterprise value of $4.07 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 9.65% and return on assets of 2.29% are outperforming 51% of companies in the vehicles and parts industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.23 is below the industry median of 0.47.
Some notable gurus shareholders are Richard Pzena (Trades, Portfolio) with 2.733% of outstanding shares, GAMCO Investors with 2.45% and Jeremy Grantham (Trades, Portfolio) with 0.41%.
Western Digital
The investment fund cut its Western Digital Corp. (WDC) position by 22.13%. The trade had an impact of -1.23% on the portfolio.
The hard disk drive and flash memory leader has a market cap of $13.06 billion and an enterprise value of $19.75 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of -6.15% and return on assets of -2.27% are underperforming 77% of companies in the hardware industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.31 is below the industry median of 1.34.
Some notable gurus shareholders are Steven Cohen (Trades, Portfolio)’s Point72 Asset Management with 0.26% and PRIMECAP Management (Trades, Portfolio) with 0.16%.
Viper Energy
The investment fund cut its holding in Viper Energy Partners LP (VNOM) by 44.76%. The trade had an impact of -0.89% on the portfolio.
The owner of mineral royalty interests has a market cap of $1.62 billion and an enterprise value of $3.48 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of -15.88% and return on assets of -5.86% are underperforming 59% of companies in the oil and gas industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.06 is below the industry median of 0.38.
Other notable shareholders include First Pacific Advisors (Trades, Portfolio) with 0.18% of outstanding shares and FPA Capital Fund (Trades, Portfolio) with 0.10%.
Disclosure: I do not own any stocks mentioned.
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