First Pacific Advisors
is a highly respected value shop run by the legendary Bob
Rodriguez. Unlike many pure bottom-up value shops, FPA pays close
attention to macro picture. Their view of macro pictures helps
them to understand better on the sustainability of the profit of
the companies they are interested.
FPA Managers Bob Rodriguez and
Steven Romick
are long time critics of Fed Chainman Ben Bernanke. This can be
seen from the most recent commentary of
Steven Romick
,
Blind Faith
. To understand how Steven Romick invests and how he achieved an
outstanding track record, please read: GuruFocus Interview with
Steve Romick, Portfolio Manager of FPA Crescent fund.
This is the portfolio chart of First Pacific Advisors. You can
click on the legend of the chart to show/hide buys, sells, or
holdings. Each ball on the chart represents a position in the
portfolio. You can move your mouse on the balls to see the
details of each position and click to see the details of all guru
trades with this position.
As of 09/30/2012, First Pacific Advisors, LLC owns 121 stocks
with a total value of $8.1 billion. These are the details of the
buys and sells.
- New Purchases:
ITT
,
JPM
,
ATK
,
BRE
,
CBL
,
- Added Positions:
ROSE
,
CFN
,
HNT
,
IPG
,
ADI
,
ORCL
,
AIG
,
MSFT
,
TMO
,
GOOG
,
DV
,
LOW
,
XRX
,
- Reduced Positions:
ESV
,
PETM
,
WMT
,
TRV
,
FL
,
ATW
,
VECO
,
- Sold Out:
VOD
,
APA
,
AGP
,
AGCO
,
GPI
,
TOT
,
QCOR
,
CCL
,
BREUF
,
DCIX
,
CFFN
,
For the details of First Pacific Advisors's stock buys and sells,
go to
http://www.gurufocus.com/StockBuy.php?GuruName=First+Pacific+Advisors
This is the sector weightings of his portfolio:
|
Technology
|
21.3% |
|
il & Gas
|
17.4% |
|
Consumer Services
|
16% |
|
Industrials
|
14.2% |
|
Health Care
|
13.5% |
|
Financials
|
13.5% |
|
Consumer Goods
|
3.7% |
|
Basic Materials
|
0.4% |
These are the top 5 holdings of First Pacific
Advisors
- CVS Caremark Corp (
CVS
) - 7,782,900 shares, 4.7% of the total portfolio. Shares
reduced by 4.19%
- Aon Plc (
AON
) - 7,343,900 shares, 4.7% of the total portfolio. Shares added
by 1.2%
- Covidien PLC (
COV
) - 5,319,700 shares, 3.9% of the total portfolio. Shares
reduced by 0.02%
- Western Digital Corporation (
WDC
) - 8,056,500 shares, 3.9% of the total portfolio. Shares
reduced by 1.81%
- Ensco PLC (
ESV
) - 5,734,177 shares, 3.9% of the total portfolio. Shares
reduced by 20.47%
New Purchase: ITT Corp (
ITT
)
First Pacific Advisors initiated holdings in ITT Corp. His
purchase prices were between $17.47 and $21.54, with an estimated
average price of $19.59. The impact to his portfolio due to this
purchase was 0.17%. His holdings were 702,663 shares as of
09/30/2012. ITT Corporation supplies advanced technology products
and services in several growth markets. Itt Corp has a market cap
of $2.01 billion; its shares were traded at around $21.72 with a
P/E ratio of 12.85 and P/S ratio of 0.95. The dividend yield of
Itt Corp stocks is 1.68%.
New Purchase: JPMorgan Chase & Co (
JPM
)
First Pacific Advisors initiated holdings in Jpmorgan Chase &
Co. His purchase prices were between $33.89 and $41.57, with an
estimated average price of $37.09. The impact to his portfolio
due to this purchase was 0.11%. His holdings were 223,000 shares
as of 09/30/2012. JPMorgan Chase & Co. is a financial
services firm. The Company is engaged in investment banking,
financial services for consumers and small businesses, commercial
banking, financial transaction processing, asset management and
private equity. Jpmorgan Chase & Co has a market cap of
$154.31 billion; its shares were traded at around $40.62 with a
P/E ratio of 8.64 and P/S ratio of 1.59. The dividend yield of
Jpmorgan Chase & Co stocks is 2.95%.
New Purchase: Alliant Techsystems Inc (
ATK
)
First Pacific Advisors initiated holdings in Alliant Techsystems
Inc. His purchase prices were between $44 and $52, with an
estimated average price of $48.79. The impact to his portfolio
due to this purchase was 0.07%. His holdings were 112,200 shares
as of 09/30/2012. ATK is an aerospace and defense company with
market positions in munitions, smart weapons and precision
capabilities, propulsion, and composite structures. Alliant
Techsystems Inc has a market cap of $1.96 billion; its shares
were traded at around $59.93 with a P/E ratio of 7.34 and P/S
ratio of 0.42. The dividend yield of Alliant Techsystems Inc
stocks is 1.33%. Alliant Techsystems Inc had an annual average
earnings growth of 10% over the past 10 years. GuruFocus rated
Alliant Techsystems Inc the business predictability rank of
4-star.
New Purchase: CBL & Associates Properties, Inc. (
CBL
)
First Pacific Advisors initiated holdings in Cbl & Associates
Properties, Inc.. His purchase prices were between $18.71 and
$22.45, with an estimated average price of $20.61. The impact to
his portfolio due to this purchase was 0.03%. His holdings were
100,000 shares as of 09/30/2012. CBL & Associates Properties,
Inc. is a fully integrated real estate investment trust which
owns, develops, acquires, leases, manages, and operates regional
shopping malls, open-air centers, community centers and office
properties. Cbl & Associates Properties, Inc. has a market
cap of $3.55 billion; its shares were traded at around $22.4 with
a P/E ratio of 10.37 and P/S ratio of 3.33. The dividend yield of
Cbl & Associates Properties, Inc. stocks is 3.93%.
New Purchase: Bre Properties, Inc. (
BRE
)
First Pacific Advisors initiated holdings in Bre Properties,
Inc.. His purchase prices were between $46.57 and $53.26, with an
estimated average price of $50.29. The impact to his portfolio
due to this purchase was 0.03%. His holdings were 155,000 shares
as of 09/30/2012. BRE PROPERTIES, INC. is a self-administered
equity real estate investment trust which owns and operates
garden apartments, shopping centers and other income-producing
properties. Bre Properties, Inc. has a market cap of $3.79
billion; its shares were traded at around $49.38 with a P/E ratio
of 21.01 and P/S ratio of 10.21. The dividend yield of Bre
Properties, Inc. stocks is 3.12%.
Sold Out: Vodafone Group Plc (VOD)
First Pacific Advisors sold out his holdings in Vodafone Group
Plc. His sale prices were between $27.58 and $30.05, with an
estimated average price of $28.76. Vodafone AirTouch Plc is the
world's largest international mobile communications firm.
Vodafone Group Plc has a market cap of $130.61 billion; its
shares were traded at around $26.56 with and P/S ratio of 1.78.
The dividend yield of Vodafone Group Plc stocks is 5.49%.
Sold Out: Apache Corporation (APA)
First Pacific Advisors sold out his holdings in Apache
Corporation. His sale prices were between $82.59 and $92.48, with
an estimated average price of $86.85. Apache Corporation is an
independent energy company that explores for, develops and
produces natural gas, crude oil and natural gas liquids. Apache
Corporation has a market cap of $30.73 billion; its shares were
traded at around $78.56 with a P/E ratio of 7.72 and P/S ratio of
1.82. The dividend yield of Apache Corporation stocks is 0.87%.
Apache Corporation had an annual average earnings growth of 15.3%
over the past 10 years. GuruFocus rated Apache Corporation the
business predictability rank of 2.5-star.
Sold Out: Amerigroup Corporation (AGP)
First Pacific Advisors sold out his holdings in Amerigroup
Corporation. His sale prices were between $64.34 and $91.44, with
an estimated average price of $88.14. Amerigroup Corporation is a
multi-state managed healthcare company focused on serving people
who receive healthcare benefits through state-sponsored programs,
including Medicaid, Children's Health Insurance Program, or CHIP,
and Family Care. Amerigroup Corporation has a market cap of $4.5
billion; its shares were traded at around $91.36 with a P/E ratio
of 34.48 and P/S ratio of 0.71. Amerigroup Corporation had an
annual average earnings growth of 16.1% over the past 10 years.
GuruFocus rated Amerigroup Corporation the business
predictability rank of 5-star.
Sold Out: Agco Corp (AGCO)
First Pacific Advisors sold out his holdings in Agco Corp. His
sale prices were between $40.71 and $47.45, with an estimated
average price of $44.19. AGCO CORP. is engaged in the
manufacturer and distribution of farm equipment, machinery and
replacement parts in the United States and Canada. Agco Corp has
a market cap of $4.31 billion; its shares were traded at around
$44.32 with a P/E ratio of 7.79 and P/S ratio of 0.49. Agco Corp
had an annual average earnings growth of 11% over the past 10
years. GuruFocus rated Agco Corp the business predictability rank
of 3-star.
Sold Out: Group 1 Automotive Inc (GPI)
First Pacific Advisors sold out his holdings in Group 1
Automotive Inc. His sale prices were between $45.64 and $60.72,
with an estimated average price of $53.99. Group 1 Automotive,
Inc. is a operator and consolidator in the highly fragmented
automotive retailing industry. Group 1 Automotive Inc has a
market cap of $1.35 billion; its shares were traded at around
$59.28 with a P/E ratio of 13.2 and P/S ratio of 0.22. The
dividend yield of Group 1 Automotive Inc stocks is 1.01%. Group 1
Automotive Inc had an annual average earnings growth of 4.8% over
the past 5 years.
Sold Out: Total Sa (TOT)
First Pacific Advisors sold out his holdings in Total Sa. His
sale prices were between $42.16 and $54.51, with an estimated
average price of $48.03. Total Fina SA engages in worldwide oil
and gas production, other upstream, RM&T and an expanding
multi-national specialty chemicals business. Total Sa has a
market cap of $113.85 billion; its shares were traded at around
$48.15 with a P/E ratio of 7.02 and P/S ratio of 0.46. The
dividend yield of Total Sa stocks is 5.16%. Total Sa had an
annual average earnings growth of 12.1% over the past 10 years.
GuruFocus rated Total Sa the business predictability rank of
4-star.
Sold Out: Questcor Pharmaceuticals, Inc. (QCOR)
First Pacific Advisors sold out his holdings in Questcor
Pharmaceuticals, Inc.. His sale prices were between $17.83 and
$57.64, with an estimated average price of $41.37. Questcor
Pharmaceuticals, Inc., formerly Cypros Pharmaceutical
Corporation,is an integrated specialty pharmaceutical company
focused on the development, acquisition and marketing of
innovative, acute care and critical care hospital/specialty
pharmaceutical products. Questcor Pharmaceuticals, Inc. has a
market cap of $1.46 billion; its shares were traded at around
$25.05 with a P/E ratio of 9.52 and P/S ratio of 6.71. The
dividend yield of Questcor Pharmaceuticals, Inc. stocks is 0.8%.
Sold Out: Carnival Corporation (CCL)
First Pacific Advisors sold out his holdings in Carnival
Corporation. His sale prices were between $31.89 and $37.95, with
an estimated average price of $34.48. Carnival Corporation is one
of the world's largest multiple-night cruise companies. Carnival
Corporation has a market cap of $23.28 billion; its shares were
traded at around $39.16 with a P/E ratio of 19.29 and P/S ratio
of 1.47. The dividend yield of Carnival Corporation stocks is
2.55%. Carnival Corporation had an annual average earnings growth
of 10.4% over the past 10 years.
Sold Out: Brookfield Real Est (BREUF)
First Pacific Advisors sold out his holdings in Brookfield Real
Est. His sale prices were between $11.68 and $13.88, with an
estimated average price of $12.72. .
Sold Out: Diana Containerships, Inc. (DCIX)
First Pacific Advisors sold out his holdings in Diana
Containerships, Inc.. His sale prices were between $5.21 and
$7.62, with an estimated average price of $6.2. Diana
Containerships Inc. is primarily focused on the worldwide
transportation of container cargoes and owns and operates two
3,426 TEU containerships. Diana Containerships, Inc. has a market
cap of $189.93 million; its shares were traded at around $5.95
with a P/E ratio of 16.39 and P/S ratio of 7.04. The dividend
yield of Diana Containerships, Inc. stocks is 20.34%.
Sold Out: Capitol Federal Financial, Inc. (CFFN)
First Pacific Advisors sold out his holdings in Capitol Federal
Financial, Inc.. His sale prices were between $11.54 and $12,
with an estimated average price of $11.85. Capitol Federal
Financial is a federally chartered mid-tier holding company.
Capitol Federal Financial, Inc. has a market cap of $1.86
billion; its shares were traded at around $11.8 with a P/E ratio
of 25.06 and P/S ratio of 5.27. The dividend yield of Capitol
Federal Financial, Inc. stocks is 2.55%.
Added: Rosetta Resources, Inc. (
ROSE
)
First Pacific Advisors added to his holdings in Rosetta
Resources, Inc. by 3087.85%. His purchase prices were between
$36.56 and $49.74, with an estimated average price of $42.82. The
impact to his portfolio due to this purchase was 1.74%. His
holdings were 3,069,900 shares as of 09/30/2012. Rosetta
Resources Inc. is an independent oil and gas company engaged in
the acquisition, exploration, development and production of
primarily natural gas properties in North America. Rosetta
Resources, Inc. has a market cap of $2.47 billion; its shares
were traded at around $46.71 with a P/E ratio of 17.49 and P/S
ratio of 5.54.
Added: Carefusion Corp (
CFN
)
First Pacific Advisors added to his holdings in Carefusion Corp
by 33.26%. His purchase prices were between $24.01 and $28.63,
with an estimated average price of $26.09. The impact to his
portfolio due to this purchase was 0.42%. His holdings were
4,923,900 shares as of 09/30/2012. CareFusion is a global
corporation serving the health care industry with products and
services that help hospitals measurably improve the safety and
quality of care. Carefusion Corp has a market cap of $6 billion;
its shares were traded at around $27.05 with a P/E ratio of 15.28
and P/S ratio of 1.67.
Added: Health Net Inc (
HNT
)
First Pacific Advisors added to his holdings in Health Net Inc by
289.23%. His purchase prices were between $17.97 and $26.89, with
an estimated average price of $23.08. The impact to his portfolio
due to this purchase was 0.41%. His holdings were 1,977,300
shares as of 09/30/2012. Health Net, Inc. is an integrated
managed care organization which administers the delivery of
managed health care services. Health Net Inc has a market cap of
$2.1 billion; its shares were traded at around $25.73 with a P/E
ratio of 11.38 and P/S ratio of 0.18.
Added: Interpublic Group Of Cos Inc (IPG)
First Pacific Advisors added to his holdings in Interpublic Group
Of Cos Inc by 62.5%. His purchase prices were between $9.67 and
$11.75, with an estimated average price of $10.91. The impact to
his portfolio due to this purchase was 0.38%. His holdings were
7,415,200 shares as of 09/30/2012. The Interpublic Group of
Companies, Inc.'s is one of the world's organizations of
advertising agencies and marketing services companies.
Interpublic Group Of Cos Inc has a market cap of $4.35 billion;
its shares were traded at around $9.96 with a P/E ratio of 13.11
and P/S ratio of 0.62. The dividend yield of Interpublic Group Of
Cos Inc stocks is 2.41%. Interpublic Group Of Cos Inc had an
annual average earnings growth of 0.2% over the past 10 years.
Added: Analog Devices Inc (ADI)
First Pacific Advisors added to his holdings in Analog Devices
Inc by 25.12%. His purchase prices were between $35.83 and
$41.68, with an estimated average price of $38.98. The impact to
his portfolio due to this purchase was 0.36%. His holdings were
3,617,100 shares as of 09/30/2012. Analog Devices, Inc. is one of
the world leaders in the design, manufacture and marketing of
high-performance analog, mixed-signal and digital signal
processing integrated circuits used in signal processing
applications. Analog Devices Inc has a market cap of $12.04
billion; its shares were traded at around $40.28 with a P/E ratio
of 18.73 and P/S ratio of 4.02. The dividend yield of Analog
Devices Inc stocks is 2.98%. Analog Devices Inc had an annual
average earnings growth of 13.6% over the past 10 years.
GuruFocus rated Analog Devices Inc the business predictability
rank of 4-star.
Added: Oracle Corporation (ORCL)
First Pacific Advisors added to his holdings in Oracle
Corporation by 15.6%. His purchase prices were between $28.81 and
$33.03, with an estimated average price of $30.95. The impact to
his portfolio due to this purchase was 0.28%. His holdings were
5,374,300 shares as of 09/30/2012. Oracle Corporation is one of
the world's suppliers of software for information management.
Oracle Corporation has a market cap of $146.26 billion; its
shares were traded at around $30.35 with a P/E ratio of 12.7 and
P/S ratio of 3.94. The dividend yield of Oracle Corporation
stocks is 0.79%. Oracle Corporation had an annual average
earnings growth of 18.1% over the past 10 years. GuruFocus rated
Oracle Corporation the business predictability rank of 5-star.
Added: American International Group Inc (AIG)
First Pacific Advisors added to his holdings in American
International Group Inc by 18.58%. His purchase prices were
between $30.17 and $35, with an estimated average price of
$32.65. The impact to his portfolio due to this purchase was
0.28%. His holdings were 4,516,700 shares as of 09/30/2012.
American International Group, Inc., world leaders in insurance
and financial services, is the international insurance
organization with operations in more than one hundred thirty
countries and jurisdictions. American International Group Inc has
a market cap of $52.44 billion; its shares were traded at around
$32.17 with a P/E ratio of 7.1 and P/S ratio of 0.88.
Added: Microsoft Corporation (MSFT)
First Pacific Advisors added to his holdings in Microsoft
Corporation by 7.66%. His purchase prices were between $28.63 and
$31.45, with an estimated average price of $30.23. The impact to
his portfolio due to this purchase was 0.25%. His holdings were
9,605,400 shares as of 09/30/2012. Microsoft Corporation
develops, manufactures, licenses, sells, and supports software
products. Microsoft Corporation has a market cap of $241.69
billion; its shares were traded at around $28.83 with a P/E ratio
of 10.92 and P/S ratio of 3.28. The dividend yield of Microsoft
Corporation stocks is 2.77%. Microsoft Corporation had an annual
average earnings growth of 13.6% over the past 10 years.
GuruFocus rated Microsoft Corporation the business predictability
rank of 5-star.
Added: Thermo Fisher Scientific Inc (TMO)
First Pacific Advisors added to his holdings in Thermo Fisher
Scientific Inc by 10.23%. His purchase prices were between $49.78
and $60.61, with an estimated average price of $55.73. The impact
to his portfolio due to this purchase was 0.25%. His holdings
were 3,664,600 shares as of 09/30/2012. Thermo Fisher Scientific
is the world leader in serving science, enabling our customers to
make the world healthier, cleaner and safer. Thermo Fisher
Scientific Inc has a market cap of $22.19 billion; its shares
were traded at around $60.69 with a P/E ratio of 12.75 and P/S
ratio of 1.89. The dividend yield of Thermo Fisher Scientific Inc
stocks is 0.86%. Thermo Fisher Scientific Inc had an annual
average earnings growth of 16.9% over the past 10 years.
Added: Google, Inc. (GOOG)
First Pacific Advisors added to his holdings in Google, Inc. by
8.19%. His purchase prices were between $570.55 and $755.94, with
an estimated average price of $651.43. The impact to his
portfolio due to this purchase was 0.2%. His holdings were
293,169 shares as of 09/30/2012. Google Inc. is a technology
company that provides a web based search engine through its
website. Google, Inc. has a market cap of $216.83 billion; its
shares were traded at around $663.03 with a P/E ratio of 20.01
and P/S ratio of 5.72. Google, Inc. had an annual average
earnings growth of 51.9% over the past 10 years. GuruFocus rated
Google, Inc. the business predictability rank of 2.5-star.
Added: Devry, Inc. (DV)
First Pacific Advisors added to his holdings in Devry, Inc. by
43.14%. His purchase prices were between $18.34 and $31.58, with
an estimated average price of $23. The impact to his portfolio
due to this purchase was 0.18%. His holdings were 2,085,400
shares as of 09/30/2012. DeVry Inc. owns and operates DeVry
Institutes of Technology, DenverTechnical College, Keller
Graduate School of Management and Becker Conviser CPA Review.
Devry, Inc. has a market cap of $1.6 billion; its shares were
traded at around $24.91 with a P/E ratio of 8.65 and P/S ratio of
0.76. The dividend yield of Devry, Inc. stocks is 1.2%. Devry,
Inc. had an annual average earnings growth of 17.1% over the past
10 years.
Added: Lowe's Companies Inc. (LOW)
First Pacific Advisors added to his holdings in Lowe's Companies
Inc. by 8.07%. His purchase prices were between $24.88 and
$30.27, with an estimated average price of $27.39. The impact to
his portfolio due to this purchase was 0.15%. His holdings were
5,483,800 shares as of 09/30/2012. Lowe's Companies Inc. is a
retailer of home improvement products in the world, with specific
emphasis on retail do-it-yourself and commercial business
customers. Lowe's Companies Inc. has a market cap of $35.89
billion; its shares were traded at around $31.47 with a P/E ratio
of 18.3 and P/S ratio of 0.71. The dividend yield of Lowe's
Companies Inc. stocks is 2.03%. Lowe's Companies Inc. had an
annual average earnings growth of 6.5% over the past 10 years.
Reduced: Ensco Plc (
ESV
)
First Pacific Advisors reduced to his holdings in Ensco Plc by
20.47%. His sale prices were between $46.24 and $58.71, with an
estimated average price of $53.94. The impact to his portfolio
due to this sale was -0.86%. First Pacific Advisors still held
5,734,177 shares as of 09/30/2012. Ensco International plc,
formerly ENSCO International Incorporated, is a provider of
offshore contract drilling services to the international oil and
gas industry. Ensco Plc has a market cap of $12.9 billion; its
shares were traded at around $55.62 with a P/E ratio of 11.06 and
P/S ratio of 6.3. The dividend yield of Ensco Plc stocks is 2.7%.
Ensco Plc had an annual average earnings growth of 14.8% over the
past 10 years.
Reduced: Petsmart Inc. (
PETM
)
First Pacific Advisors reduced to his holdings in Petsmart Inc.
by 40.02%. His sale prices were between $65.28 and $71.67, with
an estimated average price of $68.71. The impact to his portfolio
due to this sale was -0.72%. First Pacific Advisors still held
1,259,500 shares as of 09/30/2012. PETSMART, INC. is a operator
of superstores specializing in pet food, supplies and services in
the United States. Petsmart Inc. has a market cap of $7.14
billion; its shares were traded at around $65.99 with a P/E ratio
of 22.22 and P/S ratio of 1.17. The dividend yield of Petsmart
Inc. stocks is 1%. Petsmart Inc. had an annual average earnings
growth of 16.7% over the past 10 years. GuruFocus rated Petsmart
Inc. the business predictability rank of 4-star.
Reduced: Wal-mart Stores Inc (
WMT
)
First Pacific Advisors reduced to his holdings in Wal-mart Stores
Inc by 27.79%. His sale prices were between $69.72 and $75.13,
with an estimated average price of $73.14. The impact to his
portfolio due to this sale was -0.69%. First Pacific Advisors
still held 2,088,000 shares as of 09/30/2012. Wal-Mart Stores,
Inc. is the world's largest retailer. Wal-mart Stores Inc has a
market cap of $243.07 billion; its shares were traded at around
$72.31 with a P/E ratio of 15.45 and P/S ratio of 0.54. The
dividend yield of Wal-mart Stores Inc stocks is 2.2%. Wal-mart
Stores Inc had an annual average earnings growth of 11.3% over
the past 10 years. GuruFocus rated Wal-Mart Stores Inc the
business predictability rank of 5-star.
Here is the complete portfolio of First Pacific Advisors. Also
check out:
1. First Pacific Advisors' Undervalued Stocks
2. First Pacific Advisors' Top Growth Companies, and
3. First Pacific Advisors' High Yield stocksAbout GuruFocus:
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