Ken Heebner (Trades, Portfolio) is the co-founder of Capital Growth Management, a money management firm with more than $6 billion under management.
The portfolio is composed of 67 stocks and 33 of them are new stocks. Total value of the portfolio is $3,656 Mil with 33% Q/Q Turnover and the following are the most weighted trades during the Q1 2015.
He reduced by 84.03% his stake in Bank of America Corporation (BAC) with an impact of 3.7% on his portfolio. After this sale he holds 1,410,000 shares of the company that represent the 0.01% of BAC’s outstanding shares or 0.59% of his total assets.
The company provides a diversified range of banking and non-banking financial services and products through five business segments namely Consumer and Business Banking, Consumer Real Estate Services, Global Wealth and Investment Management, Global Banking and Global Markets.
During the last 12 months the price of the stock rose by +9%; is now trading with a P/E(ttm) ratio of 25.40 and according to the DCF model looks overpriced by 76%.
He added by 411.72% his stake in Whirlpool Corp (WHR) with an impact of 3.3% on his portfolio. After this add he holds 742,000 shares of the company that represent the 0.94% of WHR’s outstanding shares or 4.11% of his total assets.
The company is a manufacturer and marketer of home appliances and related products. Its products are laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers and other portable household appliances.
During the last 12 months the price of the stock rose by +32%; is now trading with a P/E(ttm) ratio of 22.00 and according to the DCF model looks overpriced by 157%.
He reduced by 93.83% his stake in Signet Jewelers Ltd (SIG) with an impact of 2.72% on his portfolio. After this sale he holds 50,000 shares of the company that represent the 0.06% of SIG’s outstanding shares or 0.19% of his total assets.
The company is a specialty jewelry retailer. The company and its subsidiaries are engaged in retailing of jewelry, watches and associated services. It manages its business from the United States of America and the United Kingdom.
During the last 12 months the price of the stock rose by +22%; is now trading with a P/E(ttm) ratio of 26.10 and according to the DCF model looks overpriced by 77%.
He bought 810,000 shares of Home Depot Inc (HD) which sells assortment of building materials, home improvement and lawn and garden products and provide a number of services.
After this buy the price of the stock did not face any change.The company is trading with a P/E (ttm) of 22.40 (-6.46% from its 52 weeks high and +41.95% from its 52-week low). It has positive returns (ROE 62.64% and ROA 15.58)but looks overpriced by 132% according to the DCF model.
The investor now holds 0.06% of outstanding shares of the company and HD now comprises 2.52% of his total assets.
With an impact of 2.3% on his portfolio, he sold out his stake of American Airlines Group IncCorp (AAL) with total gain of 17%. AAL is a holding company engaged in operation of a network air carrier through its subsidiaries American Airlines, Inc. (American), US Airways Group, Inc. The company is trading with a P/E(ttm) of 9.10 (-25.77% from its 52-week high and +48.47% from its 52-week low). The company has positive returns (ROE 11.64%, ROA 7.47%) and during the last year the price dropped by 4% .
With an impact of 1.9% on his portfolio, he sold out his stake of LaSalle HotelProperties (LHO) with total gain of 14%. The company's business includes to buy, own, redevelop and lease upscale and luxury full-service hotels located in convention, resort and urban business markets. The company is trading with a forward P/E of 13.00 (-17.29% from its 52-week high and +9.38% from its 52-week low). The company has positive returns (ROE 9.96%, ROA 6.01%) and during the last year the price rose by 5% .
With an impact of 1.9% on his portfolio, he sold out his stake of United Continental Holdings Inc (UAL) with total gain of 9%. The company is a holding company and its principal, wholly owned subsidiary is United Airlines, Inc. The company is trading with a forward P/E of 4.90 (-27.42% from its 52-week high and +47.59% from its 52-week low). The company has positive returns (ROE 74.01%, ROA 5.92%) and during the last year the price rose by 17%.
He bought 2,250,000 shares ofHilton Worldwide Holdings Inc (HLT) which is a hospitality company and along with its subsidiaries is engaged in owning, leasing, managing, developing and franchising hotels, resorts and timeshare properties.
After this buy the stock price rose by +7%. The company is trading with a P/E (ttm) of 41.60 (-6.99% from its 52-week high and +41.84% from its 52 weeks low). It has positive returns (ROE 14.85% and ROA 2.67)but looks over priced by 175% according to the DCF model.
The investor now holds 0.23% of outstanding shares of the company, and HLT now comprises 1.82% of his total assets.
With an impact of 1.8% on his portfolio, he sold out his stake of Host Hotels & Resorts Inc (HST) with total gain of 50%. It owns properties and conducts operations through Host L.P., of which the company is the sole general partner and in which it holds approximately 99% of the partnership interests. The company is trading with a forward P/E of 11.55 (-20.12% from its 52-week high and +1.24% from its 52-week low). The company has positive returns (ROE 8.91%, ROA 5.36%) and during the last year the price dropped by 13% .
He added by 381.40% his stake in Marriott InternationalInc (MAR) with an impact of 1.8% on his portfolio. After this add he holds 1,035,000 shares of the company that represent the 0.38% of MAR’s outstanding shares or 2.27% of his total assets.
The company is an operator, franchisor and licensor of hotels and timeshare properties under different brand names. It also operates, develops and markets residential properties and provides services to home/condominium owner associations.
During the last 12 months the price of the stock rose by +25%; is now trading with a P/E(ttm) ratio of 29.30 and according to the DCF model looks overpriced by 95%.
With an impact of 1.8% on his portfolio, he sold out his stake Micron Technology Inc (MU) with total gain of 6%. The company manufactures and markets a range of DRAM, NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
The company is trading with a forward P/E of 7.40 (-27.60% from its 52-week high and +3.44% from its 52-week low). The company has positive returns (ROE 35.98%, ROA 17.70%) and during the last year the price dropped by -8% .
He bought 785,000 shares of Starwood Hotels & Resorts Worldwide Inc (HOT) which operates as a hotel and leisure company. The company conducts its hotel and leisure business both directly and through its subsidiaries.
After this buy the price of the stock rose by +8%. The company is trading with a P/E (ttm) of 25.60 (-3.91% from its 52 weeks high and +23.38% from its 52-week low). It has positive returns (ROE 25.93% and ROA 6.97)but looks over priced by 109% according to the DCF model.
The investor now holds 0.46% of outstanding shares of the company and HOT now comprises 1.79% of his total assets.
He bought 385,000 shares of Acuity Brands Inc (AYI) whichis the providers of lighting fixtures, control devices, components, systems and services for commercial and institutional, industrial, infrastructure, and residential applications for various markets throughout North America and select international markets.
After this buy the price of the stock rose by +15%. The company is trading with a P/E (ttm) of 39.80 (-1.93% from its 52-week high and +71.93% from its 52-week low). It has positive returns (ROE 16.82% and ROA 9.24)but looks overpriced by 136% according to the DCF model.
The investor now holds 0.89% of outstanding shares of the company and AYI now comprises 1.77% of his total assets.
