Michael F Price

Michael F. Price is the President of MFP Investors LLC (“MFP”), the fund saw a significant addition of totally new stocks, as well as large exits, during the second quarter of the current fiscal year. MFP investors sits on approximately  $686,007,000, worth of investments, and during the second quarter, the firm added some stake in the existing counters, with some new acquisitions as well as sell-offs.

The fund manages 105 stocks as of June 30th and, has spread these investments in 12 different industries and sectors, with Financials taking the lions share, while utilities are least attractive to MFP investment strategies.

Buys

MFP Investors has bought 576,900 shares in Barnes & Noble, Inc. (NYSE:BKS), at an average price of $16.46 per share, for a total value of $9,495,774, representing 1.38 percentage change in the overall MFP portfolio.

Additionally, the company has also acquired stake in National Presto Industries Inc. (NYSE:NPK), after it bought 96,924 shares, at an average price of $69.77 per share, whose total value represents 0.99 percentage change in portfolio.

Furthermore, Michael F. price’s firm has also acquired 400,000 shares in each of Resolute Forest Products Inc (NYSE:RFP), and Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) counters, at an average price of $11.58 and $10.93 respectively.

Other new buys during the most recent quarter for the company include DELL, 110,000 shares; ISBC, 100,000 shares, EDMC, 177,000 shares, and NBN, 260,000 shares among others.

Adds

The company did also top up some of its existing counters, and the most notable ones include A M Castle and Co (NYSE:CAS), where it added 129,752 shares or 1117.88% of the initial stake, to represent 0.20 percentage change in the overall portfolio.

Additionally, the company has also added stakes in Hewlett-Packard Company (NYSE:HPQ), and J. C. Penney Company, Inc. (NYSE:JCP), after it acquired additional 265,000 and 250,000 shares respectively or 48.18% and 45.45% of the existing stakes in the two counters, to trigger a 0.78 and 0.85 percentage change in the overall portfolio.

However, the biggest addition in terms of value invested, was made in the Intel Corporation (NASDAQ:INTC) counter, after the company acquired 260,000 shares, which is 24.19 % of its initial stake in the software maker, to represent 1.01 percentage change in the overall portfolio.

Other Additions include SMT, 414,400 shares, or 197.33% of initial stake held, BSX, 351,300 shares, or 140.52%, and Citigroup Inc. (NYSE:C), 100,000 shares, or 14.26% of initial stake, among others.

 Sells

 MFP investors cleared a total of eleven counters from its portfolio during the quarter, albeit with others experiencing huge reductions. The company cleared its stake in El Paso Corp (NYSE:EP), after it sold its 400,000 shares, to trigger 1.71 percentage change in it overall portfolio.

Additionally, the company also made clear out sales in Medco Health Solutions Inc. (NYSE:MHS) selling, 125,000 shares  and Charming Shoppes, Inc. (NASDAQ:CHRS) the two German based counters , where it sold 740,841 shares, to represent 1.26 and 0.63 percentage change in portfolio, respectively.

Other sell-offs include AbitibiBowater Inc. (ABH), Ingersoll-Rand PLC (NYSE:IR), Syms Corp. (PINK:SYMSQ), and Regions Financial Corporation (NYSE:RF), where the company sold 100% of its stake accordingly.

Portfolio Sector distribution.

Financials 37.20
Health Care 14.37
Consumer Discretionary 10.48
Information Technology 10.04
Materials 6.79
Industrials 6.05
Consumer Goods 4.33
Services 3.77
Energy 3.09
Industrial Goods 2.19
Technology 1.06
Utilities 0.68

Courtesy of Dataroma.com