Stocks of Facebook, Zynga, and Groupon have been sinking. You wouldn’t expect to see those in value investors’ portfolios unless they invested in the early stages of the companies. But we see these positions in Wilbur Ross’s portfolio. This is very surprising as we all know Wilbur Ross likes to invest in distressed situations. The stocks of Zynga, and Groupon have lost more than 50% since the second quarter. And their valuations still do not look distressed at all. This is the second quarter portfolio update for Wilbur Ross. Wilbur Ross buys Exco Resources Inc, Zynga Inc, Groupon Inc, Tangoe Inc, Ubiquiti Networks Inc, sells United Continental Holdings Inc during the 3-months ended 06/30/2012, according to the most recent filings of his investment company, Invesco Private Capital.
As of 06/30/2012, Invesco Private Capital owns 21 stocks with a total value of $1.1 billion. This report does not include his foreign holdings. For instance, together with Fairfax Financials, he invested a large chunk of money in Bank of Ireland (IRE), which are not included in this filings because it is a foreign holding. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Wilbur Ross
New Purchase: Zynga Inc (ZNGA, Financial)
Wilbur Ross initiated holdings in Zynga Inc. His purchase prices were between $5.03 and $12.88, with an estimated average price of $7.96. The impact to his portfolio due to this purchase was 0.43%. His holdings were 844,326 shares as of 06/30/2012. Zynga Inc has a market cap of $2.25 billion; its shares were traded at around $3 with and P/S ratio of 2.
It is very surprising to see this position in his portfolio. But overall, together with Groupon, this is a very small position.
New Purchase: Groupon Inc (GRPN, Financial)
Wilbur Ross initiated holdings in Groupon Inc. His purchase prices were between $9.43 and $15.28, with an estimated average price of $11.48. The impact to his portfolio due to this purchase was 0.05%. His holdings were 52,099 shares as of 06/30/2012. Groupon Inc has a market cap of $4.79 billion; its shares were traded at around $5.01 with and P/S ratio of 3.
New Purchase: Tangoe Inc (TNGO, Financial)
Wilbur Ross initiated holdings in Tangoe Inc. His purchase prices were between $17.76 and $22.56, with an estimated average price of $20.28. The impact to his portfolio due to this purchase was 0.01%. His holdings were 7,178 shares as of 06/30/2012. Tangoe, Inc. is a provider of communications lifecycle management software and related services. Tangoe Inc has a market cap of $796.8 million; its shares were traded at around $20.46 with a P/E ratio of 112.8 and P/S ratio of 7.6.
New Purchase: Ubiquiti Networks Inc (UBNT)
Wilbur Ross initiated holdings in Ubiquiti Networks Inc. His purchase prices were between $11.83 and $35, with an estimated average price of $23.12. The impact to his portfolio due to this purchase was 0.01%. His holdings were 7,413 shares as of 06/30/2012. Ubiquiti Networks, Inc. is engaged in the business of designing, manufacturing and selling broadband wireless solutions worldwide. Ubiquiti Networks Inc has a market cap of $799.9 million; its shares were traded at around $8.23 with and P/S ratio of 2.3.
Added: Exco Resources Inc (XCO, Financial)
Wilbur Ross added to his holdings in Exco Resources Inc by 6.78%. His purchase prices were between $5.79 and $8.02, with an estimated average price of $6.83. The impact to his portfolio due to this purchase was 1.41%. His holdings were 31,504,077 shares as of 06/30/2012. EXCO Resources, Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploitation of onshore North American oil and natural gas properties. Exco Resources Inc has a market cap of $1.64 billion; its shares were traded at around $7.45 with a P/E ratio of 23.6 and P/S ratio of 2.2. The dividend yield of Exco Resources Inc stocks is 2.1%.
Wilbur Ross keeps adding to this position as the stock price collapsed following the dramatic decline of natural gas prices. This is the holding history of Wilbur Ross with XCO. His average cost is about double of what the stock price is now:
Reduced: United Continental Holdings Inc (UAL, Financial)
Wilbur Ross reduced to his holdings in United Continental Holdings Inc by 39.6%. His sale prices were between $20.96 and $24.64, with an estimated average price of $22.86. The impact to his portfolio due to this sale was -0.17%. Wilbur Ross still held 140,300 shares as of 06/30/2012. United Continental Holdings Inc has a market cap of $5.9 billion; its shares were traded at around $18.29 with a P/E ratio of 6.3 and P/S ratio of 0.2.
Here is the complete portfolio of Wilbur Ross. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of Wilbur Ross.
As of 06/30/2012, Invesco Private Capital owns 21 stocks with a total value of $1.1 billion. This report does not include his foreign holdings. For instance, together with Fairfax Financials, he invested a large chunk of money in Bank of Ireland (IRE), which are not included in this filings because it is a foreign holding. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
| Financials | 67.7% |
| Oil & Gas | 22.8% |
| Industrials | 7.7% |
| Technology | 1% |
| Consumer Services | 0.6% |
| Health Care | 0.2% |
| Telecom | 0.1% |
These are the top 5 holdings of Wilbur Ross
- BankUnited (BKU) - 13,721,131 shares, 30.1% of the total portfolio.
- Assured Guaranty Ltd. (AGO) - 19,835,370 shares, 26.0% of the total portfolio.
- EXCO Resources Inc (XCO) - 31,504,077 shares, 22.2% of the total portfolio. Shares added by 6.78%
- Air Lease Corp (AL) - 4,250,000 shares, 7.7% of the total portfolio.
- Cascade Bancorp (CACB) - 11,468,750 shares, 6.3% of the total portfolio.
New Purchase: Zynga Inc (ZNGA, Financial)
Wilbur Ross initiated holdings in Zynga Inc. His purchase prices were between $5.03 and $12.88, with an estimated average price of $7.96. The impact to his portfolio due to this purchase was 0.43%. His holdings were 844,326 shares as of 06/30/2012. Zynga Inc has a market cap of $2.25 billion; its shares were traded at around $3 with and P/S ratio of 2.
It is very surprising to see this position in his portfolio. But overall, together with Groupon, this is a very small position.
New Purchase: Groupon Inc (GRPN, Financial)
Wilbur Ross initiated holdings in Groupon Inc. His purchase prices were between $9.43 and $15.28, with an estimated average price of $11.48. The impact to his portfolio due to this purchase was 0.05%. His holdings were 52,099 shares as of 06/30/2012. Groupon Inc has a market cap of $4.79 billion; its shares were traded at around $5.01 with and P/S ratio of 3.
New Purchase: Tangoe Inc (TNGO, Financial)
Wilbur Ross initiated holdings in Tangoe Inc. His purchase prices were between $17.76 and $22.56, with an estimated average price of $20.28. The impact to his portfolio due to this purchase was 0.01%. His holdings were 7,178 shares as of 06/30/2012. Tangoe, Inc. is a provider of communications lifecycle management software and related services. Tangoe Inc has a market cap of $796.8 million; its shares were traded at around $20.46 with a P/E ratio of 112.8 and P/S ratio of 7.6.
New Purchase: Ubiquiti Networks Inc (UBNT)
Wilbur Ross initiated holdings in Ubiquiti Networks Inc. His purchase prices were between $11.83 and $35, with an estimated average price of $23.12. The impact to his portfolio due to this purchase was 0.01%. His holdings were 7,413 shares as of 06/30/2012. Ubiquiti Networks, Inc. is engaged in the business of designing, manufacturing and selling broadband wireless solutions worldwide. Ubiquiti Networks Inc has a market cap of $799.9 million; its shares were traded at around $8.23 with and P/S ratio of 2.3.
Added: Exco Resources Inc (XCO, Financial)
Wilbur Ross added to his holdings in Exco Resources Inc by 6.78%. His purchase prices were between $5.79 and $8.02, with an estimated average price of $6.83. The impact to his portfolio due to this purchase was 1.41%. His holdings were 31,504,077 shares as of 06/30/2012. EXCO Resources, Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploitation of onshore North American oil and natural gas properties. Exco Resources Inc has a market cap of $1.64 billion; its shares were traded at around $7.45 with a P/E ratio of 23.6 and P/S ratio of 2.2. The dividend yield of Exco Resources Inc stocks is 2.1%.
Wilbur Ross keeps adding to this position as the stock price collapsed following the dramatic decline of natural gas prices. This is the holding history of Wilbur Ross with XCO. His average cost is about double of what the stock price is now:
Reduced: United Continental Holdings Inc (UAL, Financial)
Wilbur Ross reduced to his holdings in United Continental Holdings Inc by 39.6%. His sale prices were between $20.96 and $24.64, with an estimated average price of $22.86. The impact to his portfolio due to this sale was -0.17%. Wilbur Ross still held 140,300 shares as of 06/30/2012. United Continental Holdings Inc has a market cap of $5.9 billion; its shares were traded at around $18.29 with a P/E ratio of 6.3 and P/S ratio of 0.2.
Here is the complete portfolio of Wilbur Ross. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of Wilbur Ross.
