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Tiziano Frateschi
Tiziano Frateschi
Articles (1179)  | Author's Website |

John Burbank Boosts Alibaba, Exits Yahoo

The largest 3rd-quarter trades in Passport Capital's portfolio

John Burbank (Trades, Portfolio) III is the chief investment officer of Passport Capital LLC, the global investment firm he founded in 2000. During the third quarter the guru’s largest trades were the following:

The guru bought 18,783,715 shares in Marvell Technology Group Ltd. (MRVL) with an impact of 5.21% on the portfolio.

The company is a fabless semiconductor provider of analog, mixed-signal, digital signal processing and embedded microprocessor integrated circuits. Third-quarter revenue grew 4% quarter on quarter, non-GAAP gross margin was 56.7%, and non-GAAP operating margin was 17.6%. The company repurchased 44 million shares for $56.6 million.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 2.55% and ROA of 2.10% that are outperforming 54% of the companies in the Global Semiconductors industry. Financial strength has a rating of 9 out of 10 with no debt.

The largest shareholder among the gurus is Burbank with 3.67% of outstanding shares followed by Larry Robbins (Trades, Portfolio) with 0.89%, HOTCHKIS & WILEY with 0.87%, Jim Simons (Trades, Portfolio) with 0.6%, Steven Cohen (Trades, Portfolio) with 0.57% and Pioneer Investments (Trades, Portfolio) with 0.1%.

The investor exited his stake in Yahoo! Inc. (YHOO) with an impact of -5.04% on the portfolio.

It is a technology company, offering search, content and communication on mobile phone, tablet and desktop. During the third quarter GAAP revenue was $1.305 billion compared to $1.226 billion in the same quarter of a year before, and net earnings were $163 million compared to $76 million in the third quarter of a year before.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of -16.15% and ROA of -10.49% that are underperforming 78% of the companies in the Global Internet Content & Information industry. Financial strength has a rating of 6 out of 10 with cash to debt of 5.15 that is below the industry median of 8.22.

PRIMECAP Management (Trades, Portfolio) is the largest shareholder among the gurus with 0.66% of outstanding shares followed by First Pacific Advisors (Trades, Portfolio) with 0.57%, David Einhorn (Trades, Portfolio) with 0.46%, Cohen with 0.41%, Steven Romick (Trades, Portfolio) with 0.36%, David Tepper (Trades, Portfolio) with 0.19% and First Eagle Investment (Trades, Portfolio) with 0.1%.

The guru bought 4,711,581 shares in Johnson Controls International PLC (JCI) with an impact of 4.13% on the portfolio.

The company creates products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and batteries for hybrid and electric vehicles; and interior systems for automobiles. During the last quarter the company completed the separation of Adient PLC (ADNT).

GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of -6.72% and ROA -2.32% that are underperforming 88% of the companies in the Global Auto Parts industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.04 that is below the industry median of 0.69.

The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 4.01% of outstanding shares followed by Dodge & Cox with 3.52%, Chris Davis (Trades, Portfolio) with 1.56%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.98%, HOTCHKIS & WILEY with 0.95% and Jana Partners (Trades, Portfolio) with 0.6%.

The guru closed his stake in General Electric Co. (GE) with an impact of -3.18% on the portfolio.

It is a diversified company with products and services that range from aircraft engines, power generation, oil and gas production equipment, household appliances, medical imaging, business and consumer financing and industrial products.

GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of 11.69% that is outperforming and ROA of 2.45% that is underperforming 55% of the companies in the Global Diversified Industrials industry. Financial strength has a rating of 5 out of 10 with cash to debt of 1.13 that is a few above the industry median of 1.12.

Ken Fisher (Trades, Portfolio) is the largest shareholder among the gurus, with 0.36% of outstanding shares followed by T Rowe Price Equity Income Fund with 0.16%, Bill Nygren (Trades, Portfolio) with 0.16%, Warren Buffett (Trades, Portfolio) with 0.12%, First Pacific Advisors with 0.11%, Romick with 0.08% and Pioneer Investments with 0.08%.

The investor raised his shares in Alibaba Group Holding Ltd. ADR (BABA) by 2,627.54% with an impact of 3.09% on the portfolio.

It is an online and mobile commerce company that through its subsidiaries provides retail and wholesale marketplaces available through personal computer and mobile interfaces. During the third quarter revenue increased 55% year over year, operating margin was 27%, adjusted EBITDA margin was 46%, and adjusted EBITDA margin for core commerce was 62%.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROA of 15.05% and ROC of 8.57% that are outperforming 77% of the companies in the Global Specialty Retail industry. Financial strength has a rating of 6 out of 10, with cash to debt of 1.26 that is a few above the industry median of 0.84.

The largest shareholder among the gurus is Frank Sands (Trades, Portfolio) with 0.75% of outstanding shares followed by PRIMECAP Management with 0.62%, Spiros Segalas (Trades, Portfolio) with 0.26%, Chase Coleman (Trades, Portfolio) with 0.21% Steve Mandel (Trades, Portfolio) with 0.21% and Fisher with 0.13%.

The guru bought 2,554,361 shares of Parsley Energy Inc. Class A (PE) with an impact of 1.79% on the portfolio.

It is an independent oil and natural gas company. The company is engaged in acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of -3.90% and ROA of -2.05% that are outperforming 73% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.61.

Keeley Asset Management Corp (Trades, Portfolio) is another notable shareholder among the gurus with 0.64% of outstanding shares followed by Simons with 0.27%, Ken Heebner (Trades, Portfolio) with 0.22%, Leon Cooperman (Trades, Portfolio) with 0.22%, Ron Baron (Trades, Portfolio) with 0.11%, Chuck Royce (Trades, Portfolio) with 0.07% and Paul Tudor Jones (Trades, Portfolio) with 0.02%.

The guru reduced his shares in Molson Coors Brewing Co. Class B (TAP) by 68.62% with an impact of -1.75% on the portfolio.

It is a brewer with a portfolio of owned and partner brands, including core brands Carling, Coors Light, Molson Canadian and Staropramen, as well as craft and specialty beers such as Blue Moon, Creemore Springs, Cobra & Sharp's Doom Bar. Third-quarter net sales decreased 6.9%, underlying EBITDA decreased 4.1% and underlying after-tax income decreased 14.3%.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 6.44% and ROA of 3.65% that are outperforming 55% of the companies in the Global Beverages - Brewers industry. Financial strength has a rating of 5 out of 10, with cash to debt of 1.01 that is above the industry median of 0.74%.

The largest shareholder among the gurus is Daniel Loeb (Trades, Portfolio) with 0.79% of outstanding shares followed by Alan Fournier (Trades, Portfolio) with 0.74%, Simons with 0.51%, Pioneer Investments with 0.47%, First Eagle Investment with 0.46% and Diamond Hill Capital (Trades, Portfolio) with 0.26%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

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About the author:

Tiziano Frateschi
You can read about me on this blog: www.theextraincome.info

It gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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GuruFocus has detected 4 Warning Signs with Molson Coors Brewing Co $TAP.
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