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Sally Jones
Sally Jones
Articles (580) 

FPA Crescent Fund Steven Romick's First Quarter Sells

April 11, 2013 | About:

The "Great Investor" Steven Romick, Investment Officer of the First Pacific Advisor’s Crescent Fund, was actively selling in first quarter 2013. Romick’s Crescent Fund is currently valued at $6.1 billion and holds 57 stocks, two of them new. The fund has a quarter-over-quarter turnover of 2%. Guru Steven Romick is in the top 1% of money managers.

As of quarter ending March 31, 2013, Guru Romick sold or reduced his position with these stocks:

Western Digital Corporation (NASDAQ:WDC)

Romick sold out his position with Western Digital Corporation (NASDAQ:WDC). He sold 1,850,000 shares at an average price of $47.1, for a 13% gain. The current WDC share price is $51.95. The company stock is up 36% over the last 12 months, and up 22% since January.

His holding history:


Romick reduced his Encsco PLC (NYSE:ESV) position by 71.23%, leaving a total of 470,000 shares after the trade. Up 10% over the last 12 months, the current share price for ESV is $58.82. Selling 1,163,400 shares at an average of $61.11 meant a loss of 3.8%.

His holding history:

Travelers Companies (NYSE:TRV)

Romick reduced his Travelers Companies (NYSE:TRV) position by 44.89%, leaving a total of 695,000 shares after the trade. Up 44% over the last 12 months, the current share price for TRV is $85.77. Selling 566,000 shares at an average price of $79.26 realized a gain of 7%.

His holding history:

PetSmart Inc. (PETM)

Romick reduced his PetSmart Inc. (PETM) position by 53.77%, leaving a total of 423,000 shares after the trade. Up 15% over the last 12 months, the current share price for PETM is $65.38, with a 0% change from average. Selling 492,000 shares at an average of $65.35 made a 0% gain.

His holding history:

Lowe’s Companies Inc. (NYSE:LOW)

Finally, Romick reduced his Lowe’s Companies Inc. (NYSE:LOW) position by 20.41%, leaving a total of 3,120,000 shares after the trade. Up 25% over the last 12 months, the current share price for LOW is $39.29. Selling 800,000 shares at an average of $37.87, Romick gained 3.7%.

His holding history:

Guru Steven Romick leads the Los Angeles-based First Pacific Advisors Crescent Fund with a contrarian value strategy and a 125% cumulative return over the last 10 years.

Steven Romick’s top buys, sells, and holdings:

Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.

GuruFocus "Real Time Picks" reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only. If you are not a Premium Member, we invite you for a 7-day Free Trial.

About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 5.0/5 (2 votes)


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GuruFocus has detected 5 Warning Signs with Western Digital Corp $WDC.
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