The latest 13F filing for Capital Growth Management shows that Ken Heebner bought into automotive stocks during the second quarter, including the controversial Tesla Motors Inc (NASDAQ:TSLA). His major sell-offs included JPMorgan Chase & Co (NYSE:JPM) and American International Group Inc (NYSE:AIG).

Ken Heebner

At the end of the second quarter, the firm’s top five holdings were Citigroup Inc (NYSE:C), Morgan Stanley (NYSE:MS), Lennar Corporation (NYSE:LEN), Whirlpool Corporation (NYSE:WHR) and D.R. Horton, Inc. (NYSE:DHI).

Heebner New stocks and position increases

During the second quarter, Heebner’s firm snapped up automotive stocks, initiating positions in Tesla Motors Inc (NASDAQ:TSLA), Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM). The firm also bought into Microsoft Corporation (NASDAQ:MSFT), The Gap Inc. (NYSE:GPS), The Home Depot, Inc. (NYSE:HD) and Cisco Systems, Inc. (NASDAQ:CSCO).

Major position increases for Capital Growth during the second quarter were PulteGroup, Inc. (NYSE:PHM) and D.R. Horton, Inc. (NYSE:DHI), which became the firm’s fifth biggest holding. The firm also increased its position in were Citigroup Inc (NYSE:C), pushing it up to the top of its biggest holding list. Other notable position increases for Heebner during the second quarter were Lennar Corporation (NYSE:LEN), Nike Inc (NYSE:NKE) and DiamondRock Hospitality Company (NYSE:DRH).

Heebner Position reductions and sell-offs

The firm completely closed out its positions in JPMorgan Chase & Co (NYSE:JPM), American International Group Inc (NYSE:AIG), Toll Brothers Inc (NYSE:TOL) and Occidental Petroleum Corporation (NYSE:OXY).

Heebner reduced his firm’s position in United Continental Holdings Inc (NYSE:UAL), dumping more than 2 million shares of the company’s stock. He also reduced his position in Delta Air Lines, Inc. (NYSE:DAL) and financial stocks Goldman Sachs Group Inc (NYSE:GS) and Visa Inc (NYSE:V) and cut his position in energy companies Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX).

Other noteworthy position reductions during the second quarter include Google Inc (NASDAQ:GOOG), Whirlpool Corporation (NYSE:WHR) and Honda Motor Co Ltd (NYSE:HMC).