Steve Mandel Sells Allergan, DaVita During 4th Quarter

Guru closes many positions with high impacts on portfolio

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Feb 29, 2016
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Steve Mandel (Trades, Portfolio) is the founder of Lone Pine Capital, a long/short equity money manager. During the fourth quarter Mandel sold many of his holdings.

He exited his position in Allergan PLC (AGN) with an impact of -2.99% on the portfolio.

The company is engaged in development, manufacturing, marketing, sale and distribution of generic, branded generic, brand name, biosimilar and over-the-counter pharmaceutical products. During the fourth quarter adjusted EBITDA from continuing operations increased 115%, and net revenue from continuing operations increased 74%.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with positive ROE of 5.65% that is underperforming and ROA of 3.21% that is underperforming 50% of the companies in the Global Drug Manufacturers - Specialty & Generic industry. Financial strength has a rating of 5 out of 10, with a cash-to-debt of 0.03 that is far below the industry median of 2.56.

Vanguard Health Care Fund (Trades, Portfolio) is the company's largest shareholder among the gurus with 2.78% of outstanding shares followed by Andreas Halvorsen (Trades, Portfolio) with 1.52%, John Paulson (Trades, Portfolio) with 1.4%, Daniel Loeb (Trades, Portfolio) with 1.37% and Paul Singer (Trades, Portfolio) with 0.51%.

The investor sold out his stake in DaVita HealthCare Partners Inc. (DVA) with an impact of -2.41% on the portfolio.

It is a provider of dialysis services in the U.S. for patients suffering from chronic kidney failure, also known as end stage renal disease, or ESRD.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with weak returns of ROE of 5.36% and ROA of 1.46% that are underperforming 66% of the companies in the Global Medical Care industry. Financial strength has a rating of 7 out of 10, with a cash-to-debt of 0.21 that is below the industry median of 0.29.

The company’s largest shareholder among the gurus is

Warren Buffett (Trades, Portfolio) with 18.28% of outstanding shares followed by Manning & Napier Advisors Inc. with 0.67%, Alan Fournier (Trades, Portfolio) with 0.61%, Jim Simons (Trades, Portfolio) with 0.44% and Joel Greenblatt (Trades, Portfolio) with 0.14%.

The investor reduced his stake in JD.com Inc. (JD) by 37.94%. The deal had an impact of -1.81% on the portfolio.

The company is an online direct sales company in China. It provides consumers an online retail experience. Through its website www.jd.com and mobile applications, it offers a variety of authentic products. GMV for the third quarter of 2015 had an increase of 71% compared with the third quarter of a year before, and net revenues grew by 52%.

GuruFocus gives the stock a profitability and growth rating of 3 out of 10 with negative returns of ROE of -7.42% and ROA of -3.66% that are underperforming 76% of the companies in the Global Internet Content & Information industry. Financial strength has a rating of 6 out of 10, with a cash-to-debt of 6.18 that is below the industry median of 12.49.

Chase Coleman (Trades, Portfolio) is the company's largest shareholder among the gurus with 4.36% of outstanding shares followed by Jeremy Grantham (Trades, Portfolio) with 1.54%, Dodge & Cox with 0.54%, Howard Marks (Trades, Portfolio) with 0.11% and Chris Davis (Trades, Portfolio) with 0.1%.

The investor exited his position in Charles Schwab Corp. (SCHW) with an impact of -1.61% on the portfolio.

The company through its subsidiaries is engaged in securities brokerage, banking and related financial services.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with strong ROE of 13.40% and weak ROA of 1.09% that are overperforming 76% of the companies in the Global Capital Markets industry.

The company’s largest shareholder among the gurus is Dodge & Cox with 7.79% of outstanding shares followed by

PRIMECAP Management (Trades, Portfolio) with 4.23%, Frank Sands (Trades, Portfolio) with 2.98%, Davis with 1.12% and Lou Simpson (Trades, Portfolio) with 0.95%.

The investor reduced his stake in Charter Communications Inc. (CHTR) by 27.83%. The deal had an impact of -1.35% on the portfolio.

It is a cable operator that provides services in the U.S. for residential and commercial customers. The company offers its customers traditional cable video programming, Internet services and voice services as well as video services such as video on demand, HD television and DVR service. Third-quarter residential customer relationships increased by 97,000 during the third quarter versus 68,000 during the same quarter of a year before, and revenues had an increase of 7.2%.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with negative returns of ROE of -657.77% and ROA of -0.95% that are underperforming 90% of the companies in the Global Pay TV industry.

Buffett is the company's largest shareholder among the gurus with 9.14% of outstanding shares followed by Grantham with 0.46%, Mandel with 4.2%,

John Griffin (Trades, Portfolio) with 2.15%, First Eagle Investment (Trades, Portfolio) with 0.94%, Lee Ainslie (Trades, Portfolio) with 0.85%, Chase Coleman (Trades, Portfolio) with 0.62%, Larry Robbins (Trades, Portfolio) with 0.49%, RS Investment Management (Trades, Portfolio) with 0.34%, Steven Cohen (Trades, Portfolio) with 0.2% and Diamond Hill Capital (Trades, Portfolio) with 0.19%.

The investor sold out his position in SBA Communications Corp. (SBAC) with an impact of -1.24% on the portfolio.

The company is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with weak returns as negative ROE of -2.69% and positive ROA of 4.44% that are underperforming 77% of the companies in the Global Telecom Services industry. Financial strength has a rating of 6 out of 10 with a cash-to-debt of 0.01 that is below the industry median of 0.47.

The company’s largest shareholder among the gurus is

Ron Baron (Trades, Portfolio) with 1.98% of outstanding shares followed by Eric Mindich (Trades, Portfolio) with 1.61%, Chuck Akre (Trades, Portfolio) with 1.43%, Meridian Funds (Trades, Portfolio) with 0.45%, Columbia Wanger (Trades, Portfolio) with 0.17%, Louis Moore Bacon (Trades, Portfolio) with 0.1% and Simons with 0.06%.

The investor reduced his stake in Valeant Pharmaceuticals International Inc. (VRX) by 21.88%. The deal had an impact of -1.23% on the portfolio.

It is a multinational, specialty pharmaceutical and medical device company that develops, manufactures and markets a range of branded, generic and branded generic pharmaceuticals, over-the-counter products and medical devices. During the third quarter despite negative foreign exchange impact of $172 million, total revenues had an increase of 36% over the prior year, and GAAP EPS grew 30%.

GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with strong ROE of 9.78% and weak ROA of 1.52% that is underperforming 62% of the companies in the Global Drug Manufacturers - Specialty & Generic industry. Financial strength has a rating of 6 out of 10, with a cash-to-debt of 0.05 that is far below the industry median of 2.56.

Ruane Cunniff (Trades, Portfolio) is the company's largest shareholder among the gurus with 10.31% of outstanding shares followed by Bill Ackman (Trades, Portfolio) with 8.95%, Jeff Ubben (Trades, Portfolio) with 4.37%, Paulson with 3.87%, Halvorsen with 2.27%, Glenn Greenberg (Trades, Portfolio) with 1.82% and Grantham with 1.28%.

The investor exited his position in Mobileye NV (MBLY) with an impact of -1.22% on the portfolio.

The company is engaged in the design and development of software and related technologies for camera-based Advanced Driver Assistance Systems. Its technology keeps passengers safer on the roads and reduces the risks of traffic accidents. Its proprietary software algorithms and EyeQ chips perform detailed interpretations of the visual field in order to anticipate possible collisions with other vehicles, pedestrians, cyclists, animals, debris and other obstacles.

GuruFocus gives the stock a profitability and growth rating of 3 out of 10 with strong returns of ROE of 12.29% and ROA of 10.81% that are overperforming 68% of the companies in the Global Software - Application industry. Financial strength has a rating of 8 out of 10 with no debt.

The company’s largest shareholder among the gurus is Sands with 5.66% of outstanding shares followed by Baron with 1.52%,

Jana Partners (Trades, Portfolio) with 0.46%, Simons with 0.36% and Cohen with 0.11%.

The investor exited his position in Endo International PLC (ENDP) with an impact of -1.13% on the portfolio.

It is a specialty health care company engaged in developing, manufacturing, marketing and distributing branded pharmaceutical and generic products as well as medical devices.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with negative returns of ROE of -33.18% and ROA of -9.76% that are underperforming 87% of the companies in the Global Drug Manufacturers - Specialty & Generic industry. Financial strength has a rating of 5 out of 10, with a cash-to-debt of 0.09 that is below the industry median of 2.56.

Halvorsen is the company's largest shareholder among the gurus with 2% of outstanding shares followed by Paulson with 1.46%,

George Soros (Trades, Portfolio) with 0.96%, Griffin with 0.91%, Wallace Weitz (Trades, Portfolio) with 0.3%, RS Investment Management (Trades, Portfolio) with 0.24%, Cohen with 0.18%, Pioneer Investments (Trades, Portfolio) with 0.1% and Bacon with 0.01%.

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