Prem Watsa
is an enormously successful investor in the model of
Warren Buffett
, who invests the float of his insurance conglomerate, Fairfax
Financial. In the second quarter, he opened six new positions:
Resolute Forest Products (
RFP
), IntegraMed America (
INMD
), GigOptix (
GIG
), Provident New York Bancorp (
PBNY
), Taiwan Fund Inc. (
TWN
) and JAKKS Pacific (
JAKK
).
Resolute Forest Products (
RFP
)
Watsa bought 18,460,790 shares of Resolute Forest Products in the
second quarter of 2012. The new position comprises 11.2% of his
portfolio.
Resolute Forest Products Inc. manufactures a diverse range of
forest products including newsprint, commercial printing papers,
market pulp and wood products. It has a P/E ratio of 9.98 and P/S
ratio of 0.26.
IntegraMed America (
INMD
)
Watsa's second-largest purchase comprises 0.024% of his
portfolio. He bought 33,000 shares of IntegraMed America at an
average price of $13 in the second quarter.
IntegraMed America Inc. is a physician practice management
company which provides comprehensive management support services
to a network of medical providers of women's health care
services. Integramed America has a market cap of $166.9 million;
its shares were traded at around $13.97 with a P/E ratio of 26.8
and P/S ratio of 0.6. Integramed America had an annual average
earnings growth of 11.6% over the past 10 years. GuruFocus rated
Integramed America
the business predictability rank of 3.5-star
.
GigOptix (
GIG
)
GigOptix bought 84,748 shares of GigOptix in the second quarter.
GigOptix, a fabless semiconductor manufacturer, provides
electronic engines for the optically connected digital world.
Provident New York Bancorp (
PBNY
)
Watsa bought 25,000 shares of Provident New York Bancorp at an
average price of $8 in the second quarter of 2012.
Provident New York Bancorp is a full-service independent
community bank that helps families and businesses make the most
of life's opportunities. Provident New York Bancorp has a market
cap of $312.7 million; its shares were traded at around $8.29
with a P/E ratio of 16.5 and P/S ratio of 2.2. The dividend yield
of Provident New York Bancorp stocks is 2.9%. Provident New York
Bancorp had an annual average earnings growth of 9.3% over the
past 10 years.
Taiwan Fund Inc. (
TWN
)
Watsa bought 11,438 shares of Taiwan Fund at an average price of
$16 in the second quarter of 2012.
Taiwan Fund Inc. is a closed-end, diversified management
investment company with an investment objective of long-term
capital appreciation through investment primarily in equity
securities listed on the Taiwan Stock Exchange. Taiwan Fund Inc.
has a market cap of $287.9 million; its shares were traded at
around $15.57.
JAKKS Pacific (
JAKK
)
Watsa bought 10,301 shares at an average price of $18 in the
second quarter of 2012.
JAKKS Pacific is a multi-line, multi-brand toy company that
designs, develops, produces and markets toys and related
products. JAKKS Pacific has a market cap of $417.3 million; its
shares were traded at around $16.4 with and P/S ratio of 0.6. The
dividend yield of JAKKS Pacific stocks is 2.5%.
Watsa also sold several stocks:
Watsa sold out of his position in
Primero Mining Corp. (
PPP
)
in the second quarter. Primero Mining Corp. is engaged in
exploration, acquisition and development of mineral resource
properties. Primero Mining Corp. New Common Shares (Canada) has a
market cap of $342.5 million; its shares were traded at around
$3.98 with a P/E ratio of 8.3 and P/S ratio of 2.2.
Watsa also left his position in Motorola Mobility Holdings, which
he owned 15,000 shares of, at an average price of $39. He bought
the position in the third quarter of 2011 at an average price of
$31. Motorola Mobility Holdings operates as a provider of
technologies products and services for handset and television
set-top box units.
Google acquired Motorola in May for $12.5 billion.
See
Prem Watsa
's portfolio here. Also check out the Undervalued Stocks, Top
Growth Companies and High Yield stocks of Prem Watsa.About
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