Capital Growth Management LP Buys Zebra Technologies Corp, Valero Energy Corp, Rayonier Inc, Sells Citigroup Inc, Vale SA, United Rentals Inc

• New Purchases: ZBRA, VLO, RYN, PBF, WH, DDR, PXD, SU, GGB, GLPI,
• Added Positions: BBD, ITUB, HHC, PCH, SCCO, NGLOY, NCLH, PBR, WYND, FCX,
• Reduced Positions: C, VALE, BAC, TRQ, RIO, LYB, MS, VNTR,
• Sold Out: URI, SCHW, PRU, FANG, MAR, HLT, WY, NVR, JLL, THO,

For the details of Ken Heebner's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Ken+Heebner

1. Vale SA (VALE) - 14,058,000 shares, 9.09% of the total portfolio. Shares reduced by 27.16%
2. Bank of America Corporation (BAC) - 5,770,000 shares, 8.2% of the total portfolio. Shares reduced by 22.24%
3. Morgan Stanley (MS) - 2,500,000 shares, 5.98% of the total portfolio. Shares reduced by 7.75%
4. Turquoise Hill Resources Ltd (TRQ) - 24,790,000 shares, 3.55% of the total portfolio. Shares reduced by 35.97%
5. JPMorgan Chase & Co (JPM) - 648,000 shares, 3.41% of the total portfolio.

Capital Growth Management LP initiated holding in Zebra Technologies Corp. The purchase prices were between $133.12 and $160.94, with an estimated average price of $147.17. The stock is now traded at around $163.57. The impact to a portfolio due to this purchase was 2.79%. The holding were 386,000 shares as of 2018-06-30.

Capital Growth Management LP initiated holding in Valero Energy Corp. The purchase prices were between $91.56 and $124.44, with an estimated average price of $112.03. The stock is now traded at around $111.00. The impact to a portfolio due to this purchase was 2.21%. The holding were 395,000 shares as of 2018-06-30.

Capital Growth Management LP initiated holding in Rayonier Inc. The purchase prices were between $34.82 and $39.55, with an estimated average price of $37.69. The stock is now traded at around $35.46. The impact to a portfolio due to this purchase was 2.07%. The holding were 1,060,000 shares as of 2018-06-30.

Capital Growth Management LP initiated holding in PBF Energy Inc. The purchase prices were between $33.6 and $50.57, with an estimated average price of $41.76. The stock is now traded at around $45.61. The impact to a portfolio due to this purchase was 2.05%. The holding were 970,000 shares as of 2018-06-30.

Capital Growth Management LP initiated holding in Wyndham Hotels & Resorts Inc. The purchase prices were between $57.65 and $66.43, with an estimated average price of $61.16. The stock is now traded at around $57.43. The impact to a portfolio due to this purchase was 2.03%. The holding were 685,000 shares as of 2018-06-30.

Capital Growth Management LP initiated holding in DDR Corp. The purchase prices were between $11.01 and $14.86, with an estimated average price of $12.73. The stock is now traded at around $14.40. The impact to a portfolio due to this purchase was 1.91%. The holding were 2,600,000 shares as of 2018-06-30.

Capital Growth Management LP added to a holding in Bank Bradesco SA by 196.69%. The purchase prices were between $6.55 and $10.71, with an estimated average price of $8.68. The stock is now traded at around $7.29. The impact to a portfolio due to this purchase was 2.06%. The holding were 8,975,000 shares as of 2018-06-30.

Capital Growth Management LP added to a holding in Itau Unibanco Holding SA by 167.40%. The purchase prices were between $9.94 and $15.45, with an estimated average price of $12.83. The stock is now traded at around $11.00. The impact to a portfolio due to this purchase was 1.99%. The holding were 6,070,000 shares as of 2018-06-30.

Capital Growth Management LP added to a holding in The Howard Hughes Corp by 169.23%. The purchase prices were between $125.66 and $139.79, with an estimated average price of $133.71. The stock is now traded at around $128.76. The impact to a portfolio due to this purchase was 1.47%. The holding were 350,000 shares as of 2018-06-30.

Capital Growth Management LP added to a holding in PotlatchDeltic Corp by 122.08%. The purchase prices were between $46.45 and $53.2, with an estimated average price of $50.69. The stock is now traded at around $47.70. The impact to a portfolio due to this purchase was 1.2%. The holding were 855,000 shares as of 2018-06-30.

Capital Growth Management LP added to a holding in Southern Copper Corp by 96.81%. The purchase prices were between $45.9 and $57.34, with an estimated average price of $51.81. The stock is now traded at around $43.63. The impact to a portfolio due to this purchase was 1.08%. The holding were 925,000 shares as of 2018-06-30.

Capital Growth Management LP added to a holding in Anglo American PLC by 69.03%. The purchase prices were between $10.91 and $13.04, with an estimated average price of $12.06. The stock is now traded at around $9.87. The impact to a portfolio due to this purchase was 0.89%. The holding were 3,820,000 shares as of 2018-06-30.

Capital Growth Management LP sold out a holding in United Rentals Inc. The sale prices were between $146.57 and $180, with an estimated average price of $163.45.

Capital Growth Management LP sold out a holding in Charles Schwab Corp. The sale prices were between $50.11 and $59.59, with an estimated average price of $55.39.

Capital Growth Management LP sold out a holding in Prudential Financial Inc. The sale prices were between $93.22 and $107.62, with an estimated average price of $101.09.

Capital Growth Management LP sold out a holding in Diamondback Energy Inc. The sale prices were between $111.55 and $136.76, with an estimated average price of $124.11.

Capital Growth Management LP sold out a holding in Marriott International Inc. The sale prices were between $125.26 and $141.57, with an estimated average price of $135.95.

Capital Growth Management LP sold out a holding in Hilton Worldwide Holdings Inc. The sale prices were between $75.01 and $84.68, with an estimated average price of $81.35.

Capital Growth Management LP reduced to a holding in Citigroup Inc by 56.19%. The sale prices were between $65.46 and $72.86, with an estimated average price of $68.88. The stock is now traded at around $69.67. The impact to a portfolio due to this sale was -3.53%. Capital Growth Management LP still held 920,000 shares as of 2018-06-30.

Capital Growth Management LP reduced to a holding in Vale SA by 27.16%. The sale prices were between $12.46 and $15.13, with an estimated average price of $13.66. The stock is now traded at around $13.00. The impact to a portfolio due to this sale was -2.96%. Capital Growth Management LP still held 14,058,000 shares as of 2018-06-30.

Capital Growth Management LP reduced to a holding in Bank of America Corporation by 22.24%. The sale prices were between $28.19 and $31.22, with an estimated average price of $29.85. The stock is now traded at around $30.74. The impact to a portfolio due to this sale was -2.2%. Capital Growth Management LP still held 5,770,000 shares as of 2018-06-30.

Capital Growth Management LP reduced to a holding in Turquoise Hill Resources Ltd by 35.97%. The sale prices were between $2.67 and $3.17, with an estimated average price of $2.92. The stock is now traded at around $2.35. The impact to a portfolio due to this sale was -1.9%. Capital Growth Management LP still held 24,790,000 shares as of 2018-06-30.

Capital Growth Management LP reduced to a holding in Rio Tinto PLC by 58.33%. The sale prices were between $50.55 and $60.67, with an estimated average price of $55.99. The stock is now traded at around $48.26. The impact to a portfolio due to this sale was -1.12%. Capital Growth Management LP still held 350,000 shares as of 2018-06-30.

Capital Growth Management LP reduced to a holding in LyondellBasell Industries NV by 41.46%. The sale prices were between $99.43 and $118.54, with an estimated average price of $109.76. The stock is now traded at around $113.10. The impact to a portfolio due to this sale was -0.8%. Capital Growth Management LP still held 240,000 shares as of 2018-06-30.