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Tiziano Frateschi
Tiziano Frateschi
Articles (2074)  | Author's Website |

The Parnassus Fund Exits Mattel, Sells Alphabet

Fund's largest sales of 2nd quarter

The Parnassus Endeavor Fund (Trades, Portfolio) sold shares of the following stocks during the second quarter.

The Mattel Inc. (MAT) stake was closed. The trade had an impact of -6.73% on the portfolio.

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The manufacturer and marketer of toy products has a market cap of $4.14 billion and an enterprise value of $6.62 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -57.62% and return on assets of -7.71% are underperforming 100% of companies in the Travel and Leisure industry. Its financial strength is rated 4.2 out of 10. The cash-debt ratio of 0.13 is below the industry median of 0.53.

The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 14.72% of outstanding shares, followed by Dodge & Cox with 10.72% and Mason Hawkins (Trades, Portfolio)’ Southeastern Asset Management with 10.38%.

The fund reduced its Alphabet Inc. (GOOGL) position by 60%. The portfolio was impacted by -2.53%.

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The holding company with Google as main asset has a market cap of $785 billion and an enterprise value of $675 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 16.39% and return on assets of 12.52% are outperforming 73% of companies in the Online Media industry. Its financial strength is rated 8.6 out of 10. The cash-debt ratio of 27.91 is above the industry median of 4.88.

The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 0.32% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.20% and Frank Sands (Trades, Portfolio) with 0.16%.

The fund exited its Celgene Corp. (CELG) position. The portfolio was impacted by -2.25%.

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The biopharmaceutical firm has a market cap of $63.61 billion and an enterprise value of $76.20 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 85.38% and return on assets of 13.53% are outperforming 88% of companies in the Drug Manufacturers industry. Its financial strength is rated 5.4 out of 10. The cash-debt ratio of 0.38 is below the industry median of 1.49.

The company's largest guru shareholder is David Abrams (Trades, Portfolio) with 0.96% of outstanding shares, followed by Simons’ Renaissance Technologies with 0.68% and Seth Klarman (Trades, Portfolio)’s Baupost Group with 0.57%.

The guru curbed its Cummins Corp. (CMI) holding by 35.17%, impacting the portfolio by -2.21%.

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The seller of enterprise IT solutions has a market cap of $193 billion and an enterprise value of $212 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 34.52% and return on assets of 9.19% are underperforming 77% of companies in the Application Software industry. Its financial strength is rated 5.3 out of 10. The cash-debt ratio of 0.67 is below the industry median of 3.47.

The company's largest guru shareholder is Hotchkis & Wiley with 2.09% of outstanding shares, followed by First Eagle Investment (Trades, Portfolio) with 1.68% and Bill Nygren (Trades, Portfolio)’s Oakmark Fund with 1.09%.

The guru reduced its American Express Co. (AXP) holding by 49.46%, impacting the portfolio by -1.99%.

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The provider of charges services as well as credit card services has a market cap of $104 billion and an enterprise value of $131 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. While the return on assets of 3.64% is underperforming the sector, the return on equity of 31.49% is outperforming 52% of companies in the Credit Services industry. Its financial strength is rated 3.2 out of 10. The cash-debt ratio of 0.55 is above the industry median of 1.67.

Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway is the largest guru shareholder of the company with 18.16% of outstanding shares, followed by the Dodge & Cox with 2.82% and Barrow, Hanley, Mewhinney & Strauss with 1.32%.

The guru reduced its AbbVie Inc. (ABBV) holding by 48.24%, impacting the portfolio by -1.76%.

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The drug manufacturer has a market cap of $101 billion and an enterprise value of $133 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on assets of 8.55% is outperforming 58% of companies in the Drug Manufacturer industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.14 is below the industry median of 1.49.

Pioneer Investments (Trades, Portfolio) is the company’s largest guru shareholder with 0.26% of outstanding shares, followed by Simons’ firm with 0.17% and Parnassus Endeavor Fund (Trades, Portfolio) with 0.06%.

Disclosure: I do not own any stocks mentioned.

About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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