Charles de Vaulx (Trades, Portfolio), chief investment officer and portfolio manager at International Value Advisers, reported a first-quarter portfolio that contained two new stocks purchased over the period.
For the IVA Worldwide Fund, de Vaulx and his fellow managers purchased the stocks: Ralph Lauren Corp. (RL, Financial) and KT&G Corp. (XKRX:033780, Financial). The positions are relatively small in the portfolio, which lists 78 equities. At June 2, they had a collective value of $4.14 billion, with the majority of capital allocated to the industrials, financial services and consumer cyclical sectors.
De Vaulx, a value investor, has a background at the famed First Eagle Global and won several industry awards over his career. A native of France, de Vaulx’s International Value Advisers is based in New York. In his letter from March, de Vaulx called his fund’s positioning “cautious” due to difficulty finding suitable stocks in highly valued markets, resulting in his light first-quarter buying. De Vaulx also said he had increased his cash position.
Overview of de Vaulx’s International Value Advisers picks
Ralph Lauren Corp.
De Vaulx purchased 617,728 shares of the apparel company, representing 1.22% of the portfolio. The stock’s price averaged $83 per share for the quarter and has declined by 16% since.
Ralph Lauren Corp. has a market cap of $5.61 billion; its shares were traded around $69.25 with a P/S ratio of 0.86. The trailing 12-month dividend yield of Ralph Lauren Corp. is 2.90%. The forward dividend yield is 2.89%.
KT&G Corp.
De Vaulx purchased 523,248 shares of KT&G, a South Korean tobacco company, representing 1.1% of the portfolio. The price of the stock averaged 100,214 Korean won per share and has increased 14% since.
KT&G Corp. has a market cap of $14394.22 billion; its shares were traded around 114,000.00 Korean won with a P/E ratio of 13.23 and P/S ratio of 4.80. The trailing 12-month dividend yield of KT&T Corp. is 3.16%. The forward dividend yield of KT&G Corp. is 3.16%. KT&G Corp. had annual average earnings growth of 7% over the past five years.
See De Vaulx’s portfolio here.
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