Oaktree investor and author of widely read memos, Howard Marks (Trades, Portfolio), disclosed his first-quarter portfolio activity Monday morning that included buying seven new stocks.
Marks’ aggregate portfolio has a fair value of $2.4 billion. It lists 64 equity positions that are 28% concentrated in the consumer cyclical sector and 26% concentrated in the financial services sector as of the end of the first quarter.
Oaktree Capital Management, where Marks is co-chairman, has $97 billion in assets under management, more than triple the figure a decade ago. It focuses on alternative global investments, particularly in credit strategies. Its fundamental approach to stocks includes an emphasis on risk control and bottom-up analysis.
Below are Marks’ seven new holdings.
Snyder’s-Lance Inc. (LNCE, Financial)
Marks purchased 1,223,965 shares, worth 1.59% of the portfolio. The company’s first-quarter share price averaged $32.
Snyder's-Lance Inc. has a market cap of $2.95 billion; its shares were traded around $30.77 with a P/E ratio of 128.21 and P/S ratio of 1.32. The trailing 12-month dividend yield of Snyder's-Lance Inc. stocks is 2.09%. The forward dividend yield of Snyder's-Lance Inc. stocks is 2.07%. Snyder's-Lance Inc. had an annual average earnings growth of 2.3% over the past 10 years.
Marks purchased 763,000 shares, worth 1.47% of the company. The company’s first-quarter share price averaged $45.
Anthem Inc. has a market cap of $11.96 billion; its shares were traded around $45.50 with a P/E ratio of 15.35 and P/S ratio of 0.46. Anthem Inc. had an annual average earnings growth of 11.1% over the past 10 years. GuruFocus rated Anthem Inc. the business predictability rank of 5-star.
Kinder Morgan Inc. (KMIPRA, Financial)
Marks purchased 778,100 shares, worth 1.45% of the portfolio. The company’s first-quarter share price averaged $43.
KMIPRA is a symbol of the preferred shares of Kinder Morgan, a pipeline transportation and energy storage company in North America. It has a P/E ratio of 571.0 and P/S ratio of 2.69.
WPX Energy Inc. (WPXP, Financial)
Marks purchased 761,900 shares, worth 1.16% of the portfolio. The company’s first-quarter share price averaged $28.
WPX Energy is a natural gas and oil exploration and production company with a P/S ratio of 1.50. The trailing 12-month dividend yield of WPX Energy Inc. stocks is 5.06%. The forward dividend yield of WPX Energy Inc. stocks is 6.89%.
Marks purchased 423,626 shares, worth 0.64% of the portfolio. The company’s first-quarter stock price averaged $31.
Yahoo! Inc. has a market cap of $35.69 billion; its shares were traded around $37.61 with and P/S ratio of 7.33.
NACCO Industries Inc. (NC, Financial)
Marks purchased 154,500 shares, worth 0.37% of the portfolio. The company’s first-quarter share price averaged $48.
NACCO Industries Inc. has a market cap of $361.650 million; its shares were traded around $52.57 with a P/E ratio of 15.24 and P/S ratio of 0.42. The trailing 12-month dividend yield of NACCO Industries Inc. stocks is 1.99%. The forward dividend yield of NACCO Industries Inc. stocks is 2.1%.
Blucora Inc. (BCOR, Financial)
Marks purchased 245,000 shares, worth 0.05% of the portfolio. The company’s first-quarter share price averaged $7.
Blucora Inc. has a market cap of $366.040 million; its shares were traded around $8.85 with and P/S ratio of 3.51. Blucora Inc. had an annual average earnings growth of 22% over the past five years.
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