Tilson's T2 Partners Management Reduced BRK.B, AIG, Others in Second Quarter

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Guru Whitney Tilson is an author and a disciple of the Graham-Dodd-Buffett-Munger school of value investing. He co-manages three hedge funds and two mutual funds: Tilson Focus Fund and Tilson Dividend Fund. Tilson's T2 Partners Management LP has a portfolio of 59 stocks, 18 of them new, a total value at $103 million, and a quarter-over-quarter turnover of 28%. The portfolio is currently weighted with top three sectors: consumer cyclical at 28.9%, financial services at 16.7% and real estate at 11.7%.

Tilson was actively trading in the second quarter. Here are the details of some of his highest impact sells and reductions as of June 30, 2013:

American International Group ( AIG ): Reduced

Impacts Portfolio: -8.68%

Current Shares: 42,500

Up 34% over 12 months, American International Group Inc. has a market cap of $68.59 billion; its shares were traded at around $46.46 with a P/E ratio of 26.20.

Guru Action: As of June 30, 2013, T2 Partners Management reduced its position by 85.99%, selling 260,944 shares at an average price of $42.90, for a gain of 8.3%.

The firm has averaged a gain of 52% on 578,447 shares bought at an average price of $30.61 per share. On shares sold, the firm averaged a gain of 25% on 535,947 shares sold at an average price of $37.02 per share.

Track historical pricing, revenue and net income:





Outerwall Inc. ( OUTR ): Reduced

Impacts Portfolio: -2.5%

Current Shares: 10,000

Up 22% over 12 months, Outerwall Inc. has a market cap of $1.74 billion; its shares were traded at around $62.17 with a P/E ratio of 14.40.

Incorporated in 1993, Outerwall Inc. is a provider of automated retail solutions offering convenient products and services that benefit consumers and drive incremental retail traffic and revenue for retailers. Outerwall is the company behind the Redbox movie and video game rental kiosks and Coinstar coin-counting kiosks.

Guru Action: As of June 30, 2013, T2 Partners Management reduced its position by 83.33%, selling 50,000 shares at an average price of $56.53, for a gain of 10%.

The firm has averaged a gain of 19% on 60,000 shares bought at an average price of $52.46 per share. On shares sold, the firm averaged a gain of 19% on 50,000 shares sold at an average price of $56.53 per share.

Track historical pricing, revenue and net income:



Berkshire Hathaway Inc. ( BRK.B ): Reduced

Impacts Portfolio: -1.59%

Current Shares: 53,507

Up 32% over 12 months, Berkshire Hathaway Inc. has a market cap of $259.94 billion; its shares were traded at around $111.22 with a P/E ratio of 14.60.

Guru Action: As of June 30, 2013, T2 Partners Management reduced its position by 24.83%, selling 17,679 shares at an average price of $110.02, for a gain of 1.1%.

The firm has averaged a gain of 57% on 464,598 shares bought at an average price of $71.03 per share. On shares sold, the firm averaged a gain of 37% on 411,091 shares sold at an average price of $81.39 per share.

Track historical pricing, revenue and net income:



Cincinnati Bell Inc. ( CBB ): Sold Out

Impacts Portfolio: -1.6%

Down 41% over 12 months, Cincinnati Bell Inc. has a market cap of $621.96 million; its shares were traded at around $2.99 with a P/E ratio of 373.90.

Cincinnati Bell Inc. was incorporated in 1983. The company with its consolidated subsidiaries is a full-service regional provider of data and voice communications services and equipment over wire lines and wireless networks in Ohio.

Guru Action: As of June 30, 2013, T2 Partners Management sold out its position, selling 575,068 shares at an average price of $3.37, for a loss of 11.3%. The firm also lost 30% in the previous quarter when it bought a new holding of 575,068 shares at an average price of $4.27 per share.

Track historical pricing, revenue and net income:



Western Digital Corporation ( WDC ): Sold Out

Impacts Portfolio: -1.7%

Up 47% over 12 months, Western Digital Corporation has a market cap of $14.69 billion; its shares were traded at around $62.00 with a P/E ratio of 15.90.

Founded in 1970, Western Digital Corporation is a developer and manufacturer of storage devices for digital content creation, management and preservation. The company also designs and makes networking equipment and home entertainment products under the WD, HGST and G-Technology brands.

Guru Action: As of June 30, 2013, T2 Partners Management sold out its position, selling 40,000 shares at an average price of $57.97, for a gain of 7%.

Tilson's trading history shows eight quarters of high gains, topping out at a 119.2% gain in the fourth quarter of 2011.

Track historical pricing, revenue and net income:



Here is the complete portfolio of Whitney Tilson.



Whitney Tilson is the co-founder of the investment newsletter, ' Value Investor Insight. ' He is also the co-founder of the Value Investing Congress , a biannual investment conference in New York City and Los Angeles.

Be sure to read:

1. Whitney Tilson's Undervalued Stocks
2. Whitney Tilson's Top Growth Companies
3. Whitney Tilson's High Yield stocks
4. Stocks that Whitney Tilson keeps buying

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: AIG , CBB , OUTR , WDC

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