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Ken Heebner Exits Alibaba, NetEase, Ferrari

The guru's largest 3rd quarter sales

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Nov 16, 2017
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Co-founder of Capital Growth Management 

Ken Heebner (Trades, Portfolio) runs the CGM Focus Fund. He is well known for placing targeted bets and alternate stellar returns and deep losses for investors. During the third quarter the guru sold shares in the following stocks.

The guru exited his position in Copa Holdings SA Class A (CPA) impacting the portfolio by -3.31%.

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The company has a market cap of $4.5 billion and an enterprise value of $4.87 billion. It invests in aviation-related as well as airlines companies.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity (ROE) of 18.83% and return on assets (ROA) of 9.05% are outperforming 57% of the companies in the Global Airlines industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.69 is below the industry median of 0.46.

The largest shareholder among the gurus is

Ron Baron (Trades, Portfolio) with 1.22% of outstanding shares followed by Jim Simons (Trades, Portfolio) with 0.97% and Pioneer Investments (Trades, Portfolio) with 0.04%.

The investor closed his holding in Alibaba Group Holding Ltd. ADR (BABA). The trade had an impact of -2.6% on the portfolio.

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The online and mobile e-commerce company has a market cap of $459.81 billion and an enterprise value of $455.5 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The ROE of 21.52% and ROA of 11.78% are outperforming 83% of the companies in the Global Specialty Retail industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 1.80 is above the industry median of 0.99.

PRIMECAP Management (Trades, Portfolio) is the largest shareholder of the company among the gurus with 0.61% of outstanding shares followed by Frank Sands (Trades, Portfolio) with 0.59%, Ken Fisher (Trades, Portfolio) with 0.41% and Steve Mandel (Trades, Portfolio) with 0.35%.

The Freeport-McMoRan Inc Class B (FCX) stake was closed. The transaction had an impact of -2.31% on the portfolio.

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The mining company has a market cap of $19.98 billion and an enterprise value of $33.06 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 17.32% and ROA of 2.31% are outperforming 75% of the companies in the Global Copper industry. Financial strength has a rating of 5 out of 10 with a cash-debt ratio of 0.34.

Carl Icahn (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 5.33% of outstanding shares followed by Manning & Napier Advisors, Inc with 0.47%, Mario Gabelli (Trades, Portfolio) with 0.32% and Pioneer Investments (Trades, Portfolio) with 0.14%.

The guru exited his holding of Constellation Brands Inc Class A (STZ), impacting the portfolio by -2.3%.

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The distributor of beers, wines and other spirits drinks has a market cap of $42.67 billion and an enterprise value of $51.51 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The ROE of 24.17% and ROA of 9.46% are outperforming 76% of the companies in the Global Beverages - Wineries and Distilleries industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.01 is below the industry median of 0.60.

The largest shareholder of the company among the gurus is Steven Mandel with 3.23% of outstanding shares followed by

Daniel Loeb (Trades, Portfolio) with 1.14%, Lee Ainslie (Trades, Portfolio) with 0.68% and Steven Cohen (Trades, Portfolio) with 0.4%.

The guru sold out his NetEase Inc. (NTES) holding. The trade had an impact of -1.99% on the portfolio.

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The company has a market cap of $39.19 billion and an enterprise value of $37.76 billion. It provides online services through its online websites.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The ROE of 34.59% and ROA of 23.49% are outperforming 93% of the companies in the Global Internet Content and Information industry. Financial strength has a rating of 8 out of 10. The cash-debt ratio of 2.94 is below the industry median of 13.55.

Simons is the largest shareholder of the company among the gurus with 2.04% of outstanding shares followed by Fisher with 0.64% and

Jeremy Grantham (Trades, Portfolio) with 0.25%.

Toll Brothers Inc. (TOL) shares were reduced by 83.62%, impacting the portfolio -1.76%.

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The luxury homebuilder company has a market cap of $7.45 billion and an enterprise value of $10.33 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 10.55% and ROA of 4.71% are outperforming 64% of the companies in the Global Residential Construction industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.25 is below the industry median of 2.09.

The largest guru shareholder is Donald Smith (Trades, Portfolio) with 0.71% of outstanding shares followed by Fisher with 0.34%, Simons with 0.21% and

Ruane Cunniff (Trades, Portfolio) with 0.17%.

The Ferrari NV (RACE) position was exited. The trade had an impact of -1.73% on the portfolio.

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The manufacturer of luxury sport cars has a market cap of $26.98 billion and an enterprise value of $28.36 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 116.06% and ROA of 12.72% are outperforming 87% of the companies in the Global Auto Manufacturers industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.36 is below the industry median of 0.74.

Mohnish Pabrai (Trades, Portfolio) is the largest shareholder of the company among the gurus with 0.16% of outstanding shares followed by Simons with 0.01%.

The guru also cut his holding of Thor Industries Inc. (THO) by 80%, impacting the portfolio by -1.72%.

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The manufacturer of recreational vehicles has a market cap of $6.94 billion and an enterprise value of $6.87 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 26.58% and ROA of 15.22% are outperforming 90% of the companies in the Global Recreational Vehicles industry. Financial strength has a rating of 8 out of 10. The cash-debt ratio of 1.54 is above industry median of 0.74.

The largest guru shareholder is Cohen with 1.65% of outstanding shares followed by

Chuck Royce (Trades, Portfolio) with 1.46%, Simons with 0.76%, Louis Moore Bacon (Trades, Portfolio) with 0.28% and Heebner with 0.17%.

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

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