A Look at 13F Changes of the ‘Top 75’ Great Investors

reminiscences of a stock operator pdf
A Look at 13F Changes of the 'Top 75' Great Investors

 

I make changes to my portfolio and those of my clients once a quarter, where I trade out of 2-4 of my ~35 companies, and buy a similar number of new companies.  I have detailed that in this article.

But one thing that I do differently now is where I source ideas.  There are three places:

  1. Articles I read that seem to have good ideas.  I print them out and put them in a folder.
  2. My industry studies.
  3. Scanning the 13Fs of ~75 clever investors.  That’s the new part.

I’m not going to write a lot more commentary this evening.  I’m just going to give you a results dump.  I have already gone through my results and made changes to my clients’ portfolios, save for one stock that is a little illiquid, and will take some time to acquire.

As it is, I want to share the following data with you from my trolling through the 13F filings:

Number of investors adding a new stock:

CUSIP New Ticker Name
026874784

6

AIG AMERICAN INTL GROUP INC
25490A309

5

DTV DIRECTV
38259P508

5

GOOG GOOGLE INC.
50075N104

5

MDLZ Mondelez International, Inc.
65334H102

5

NXY NEXEN INC COMMON STOCK NPV
896945201

5

TRIP TRIPADVISOR INC
37045V100

4

GM GENERAL MTRS CO
399473107

4

GRPN GROUPON INC
46625H100

4

JPM JPMORGAN CHASE & CO
53071M880

4

LVNTA LIBERTY VENTURES – SER A

 

Umm, Groupon, GM?  Interesting.

Number of investors adding to a stock position:

CUSIP Increased Ticker Name
026874784

13

AIG AMERICAN INTL GROUP INC
38259P508

12

GOOG GOOGLE INC.
191216100

12

KO COCA COLA COMPANY
37045V100

11

GM GENERAL MTRS CO
24702R101

10

DELL Dell Inc
742718109

9

PG PROCTER & GAMBLE CO/THE
172967424

9

C CITIGROUP INC
50075N104

8

MDLZ Mondelez International, Inc.
65248E104

8

NWSA NEWS CORP
741503403

8

PCLN PRICELINE COM INC
037833100

8

AAPL APPLE INC
896945201

7

TRIP TRIPADVISOR INC
125509109

7

CI CIGNA CORP
78463V107

7

GLD SPDR GOLD TRUST
68389X105

7

ORCL Oracle Corp

 

The companies most held by my group of investors:

CUSIP Owned Ticker Name
38259P508

28

GOOG GOOGLE INC.
037833100

21

AAPL APPLE INC
594918104

20

MSFT MICROSOFT CORP
68389X105

17

ORCL Oracle Corp
026874784

15

AIG AMERICAN INTL GROUP INC
172967424

15

C CITIGROUP INC
478160104

15

JNJ JOHNSON & JOHNSON
931142103

15

WMT WAL-MART STORES INC
084670702

14

BRK.B BERKSHIRE HATHAWAY INC-CL B
24702R101

13

DELL Dell Inc
65248E104

13

NWSA NEWS CORP
060505104

13

BAC BANK OF AMERICA CORP
747525103

13

QCOM QUALCOMM INC
084670108

13

BRK.A BERKSHIRE HATHAWAY INC-CL A
191216100

12

KO COCA COLA COMPANY
949746101

12

WFC WELLS FARGO & CO NEW

 

Number of investors decreasing a stock position:

CUSIP Decreased Ticker Name
38259P508

16

GOOG GOOGLE INC.
594918104

15

MSFT MICROSOFT CORP
037833100

13

AAPL APPLE INC
931142103

12

WMT WAL-MART STORES INC
68389X105

10

ORCL Oracle Corp
17275R102

10

CSCO CISCO SYS INC COM
902973304

10

USB US BANCORP DEL
084670702

9

BRK.B BERKSHIRE HATHAWAY INC-CL B
060505104

9

BAC BANK OF AMERICA CORP
57636Q104

9

MA Mastercard Inc – Class A
65248E104

8

NWSA NEWS CORP
949746101

8

WFC WELLS FARGO & CO NEW
254687106

8

DIS DISNEY WALT CO
717081103

8

PFE PFIZER INC
92826C839

8

V Visa Inc-Class A Shares
931422109

8

WAG WALGREEN CO

 

Number of investors selling a stock entirely:

CUSIP Sold Ticker Name
25490A101

6

DTV DIRECTV-CLASS A
594918104

4

MSFT MICROSOFT CORP
931422109

4

WAG WALGREEN CO
87612E106

4

TGT TARGET CORP
032346108

4

AMLN AMYLIN PHARMACEUTICALS INC
037833100

3

AAPL APPLE INC
060505104

3

BAC BANK OF AMERICA CORP
57636Q104

3

MA Mastercard Inc – Class A
65248E104

3

NWSA NEWS CORP
871503108

3

SYMC SYMANTEC CORP
172967424

3

C CITIGROUP INC
78463V107

3

GLD SPDR GOLD TRUST
032511107

3

APC ANADARKO PETROLEUM CORP
53217V109

3

LIFE LIFE TECHNOLOGIES CORP.
855030102

3

SPLS Staples Inc
053332102

3

AZO AUTOZONE INC
086516101

3

BBY Best Buy Company Inc
64110L106

3

NFLX NETFLIX INC
844741108

3

LUV Southwest Airlines Co
256677105

3

DG DOLLAR GEN CORP NEW
91324P102

3

UNH Unitedhealth Group Inc
30161N101

3

EXC Exelon Corp
778296103

3

ROST ROSS STORES INC
690742101

3

OC OWENS CORNING NEW
46120E602

3

ISRG INTUITIVE SURGICAL INC
726505100

3

PXP Plains Exploration
88023U101

3

TPX TEMPUR PEDIC INTL INC
382388106

3

GR GOODRICH CORP
532791100

3

LNCR LINCARE HOLDINGS INC.

 

As a percentage of market cap, new positions added:

CUSIP New Ticker Name
G5784H106

NA

MANU MANCHESTER UTD PLC NEW
64107N206

27.49%

UEPS Net 1 UEPS Technologies Inc
06652K103

27.20%

BKU BANKUNITED INC
86663B102

26.98%

SNBC Sun Bancorp Inc
147154207

25.80%

CACB Cascade Bancorp
584404107

25.36%

MEG MEDIA GEN INC
09064Y307

23.66%

BIOF BioFuel Energy Corp.
269279402

14.54%

XCO EXCO RESOURCES
912318201

12.88%

UNG UNITED STATES NATL GAS FUND
121220107

12.21%

BKW BURGER KING WORLDWIDE INC
29788A104

10.06%

EOPN E2open, Inc.
G0585R106

10.03%

AGO Assured Guaranty Ltd.
25490A309

9.48%

DTV DIRECTV
44047T109

8.94%

HZNP HORIZON PHARMA INC
92343E102

8.74%

VRSN VeriSign Inc.
57686G105

8.58%

MATX Matson Inc
896945201

7.58%

TRIP TRIPADVISOR INC
39530A104

7.53%

GRH Greenhunter Energy Inc-Restric

 

Increases in positions as a percentage of market cap:

CUSIP Increased Ticker Name
G5784H106

361.97%

MANU MANCHESTER UTD PLC NEW
64107N206

27.49%

UEPS Net 1 UEPS Technologies Inc
06652K103

27.20%

BKU BANKUNITED INC
86663B102

26.98%

SNBC Sun Bancorp Inc
147154207

25.80%

CACB Cascade Bancorp
584404107

25.36%

MEG MEDIA GEN INC
09064Y307

24.24%

BIOF BioFuel Energy Corp.
912318201

15.09%

UNG UNITED STATES NATL GAS FUND
269279402

14.54%

XCO EXCO RESOURCES
121220107

12.21%

BKW BURGER KING WORLDWIDE INC
53635B107

11.90%

LQDT Liquidity Services, Inc.
29788A104

10.06%

EOPN E2open, Inc.
G0585R106

10.03%

AGO Assured Guaranty Ltd.
25490A309

9.48%

DTV DIRECTV
896945201

9.21%

TRIP TRIPADVISOR INC
779376102

9.21%

ROVI ROVI CORP
44047T109

8.94%

HZNP HORIZON PHARMA INC
92343E102

8.74%

VRSN VeriSign Inc.
57686G105

8.58%

MATX Matson Inc
760975102

7.60%

RIMM RESEARCH IN MOTION LTD
39530A104

7.53%

GRH Greenhunter Energy Inc-Restric
07556Q105

7.41%

BZH Beazer Homes USA Inc
194014106

7.06%

CFX Colfax Corporation

 

Decreases in positions as a percentage of market cap:

CUSIP Decreased Ticker Name
147154207

-28.97%

CACB Cascade Bancorp
98417P105

-27.68%

XIN XINYUAN REAL ESTATE CO LTD
624756102

-27.02%

MLI MUELLER INDS INC
06652K103

-26.06%

BKU BANKUNITED INC
64107N206

-24.77%

UEPS Net 1 UEPS Technologies Inc
86663B102

-21.46%

SNBC Sun Bancorp Inc
83545G102

-18.35%

SAH SONIC AUTOMOTIVE INC CL A
09064Y109

-15.81%

BIOF BIOFUEL ENERGY CORP
014481105

-15.75%

ALEX Alexander & Baldwin Inc
269279402

-13.78%

XCO EXCO RESOURCES
007865108

-11.85%

ARO Aeropostale Inc
205862402

-11.69%

CMVT COMVERSE TECHNOLOGY INC
G0585R106

-10.38%

AGO Assured Guaranty Ltd.
499183804

-10.21%

KNOL KNOLOGY INC
25490A101

-9.29%

DTV DIRECTV-CLASS A
74165N105

-8.79%

PRMW PRIMO WTR CORP
760276105

-8.36%

RJET REPUBLIC AWYS HLDGS INC
359360104

-8.22%

FFEX FROZEN FOOD EXPRESS INDS INC
440441400

-8.16%

HRZCA HORIZON TELCOM – CLASS A
647581107

-8.06%

EDU NEW ORIENTAL ED & TECH GRP I
939640108

-7.94%

WPO Washington Post
960908309

-7.67%

WPRT WESTPORT INNOVATIONS INC
871206405

-7.48%

SCMR SYCAMORE NETWORKS INC
863236105

-7.44%

STRA STRAYER ED INC
918866104

-7.31%

VCI VALASSIS COMMUNICATIONS INC
532791100

-7.07%

LNCR LINCARE HOLDINGS INC.

 

Largest amount of stocks sold out in entire:

CUSIP Sold Ticker Name
147154207

-28.97%

CACB Cascade Bancorp
98417P105

-27.68%

XIN XINYUAN REAL ESTATE CO LTD
624756102

-27.02%

MLI MUELLER INDS INC
06652K103

-26.06%

BKU BANKUNITED INC
64107N206

-24.77%

UEPS Net 1 UEPS Technologies Inc
86663B102

-21.46%

SNBC Sun Bancorp Inc
09064Y109

-15.81%

BIOF BIOFUEL ENERGY CORP
014481105

-15.75%

ALEX Alexander & Baldwin Inc
269279402

-13.78%

XCO EXCO RESOURCES
007865108

-11.85%

ARO Aeropostale Inc
205862402

-11.69%

CMVT COMVERSE TECHNOLOGY INC
G0585R106

-10.38%

AGO Assured Guaranty Ltd.
499183804

-10.21%

KNOL KNOLOGY INC
25490A101

-9.29%

DTV DIRECTV-CLASS A
74165N105

-8.79%

PRMW PRIMO WTR CORP
760276105

-8.36%

RJET REPUBLIC AWYS HLDGS INC
440441400

-8.16%

HRZCA HORIZON TELCOM – CLASS A
939640108

-7.94%

WPO Washington Post
871206405

-7.48%

SCMR SYCAMORE NETWORKS INC
647581107

-7.47%

EDU NEW ORIENTAL ED & TECH GRP I
863236105

-7.44%

STRA STRAYER ED INC
918866104

-7.31%

VCI VALASSIS COMMUNICATIONS INC
532791100

-7.07%

LNCR LINCARE HOLDINGS INC.

 

Finally, a list of the largest companies held by my investors where there is still net buying going on:

G5784H106

NA

MANU MANCHESTER UTD PLC NEW
313549404

94.11%

FDML FEDERAL MOGUL CORP
451100101

92.72%

IEP ICAHN ENTERPRISES LP
25388BAD6

51.94%

DRIV DIGITAL RIV INC
09064Y307

40.95%

BIOF BioFuel Energy Corp.
63934E108

33.61%

NAV Navistar International Corp
708160106

31.98%

JCP PENNEY J C INC
254423106

31.23%

DIN DINEEQUITY INC
584404107

29.86%

MEG MEDIA GEN INC
64107N206

27.49%

UEPS Net 1 UEPS Technologies Inc
06652K103

27.20%

BKU BANKUNITED INC
86663B102

26.98%

SNBC Sun Bancorp Inc
76117W109

24.37%

RFP Resolute Forest Products Inc
92552V100

23.72%

VSAT VIASAT INC
896945201

23.44%

TRIP TRIPADVISOR INC
L00849106

23.41%

AGRO ADECOAGRO SA
549463AH0

22.73%

ALU LUCENT TECHNOLOGIES INC
405217100

21.86%

HAIN HAIN CELESTIAL GROUP INC
165167107

20.76%

CHK CHESAPEAKE ENERGY CORP
615369105

20.32%

MCO Moody’s
912318201

20.06%

UNG UNITED STATES NATL GAS FUND
812139301

19.92%

ZZ SEALY CORP
874054109

18.64%

TTWO TAKE-TWO INTERACTIVE SOFTWAR
205363104

18.40%

CSC COMPUTER SCIENCES CORP
92927K102

17.65%

WBC WABCO HOLDINGS INC
459028106

17.54%

INTL INTL FCStone Inc
92343E102

17.33%

VRSN VeriSign Inc.
42983D104

17.30%

ONE HIGHER ONE HLDGS INC
N7902X106

17.11%

ST SENSATA TECHNOLOGIES HLDG BV
913837100

16.53%

USAP UNIVERSAL STAINLESS & ALLOY
194014106

15.31%

CFX Colfax Corporation
N93540107

15.30%

VPRT VISTAPRINT N V
760975102

14.96%

RIMM RESEARCH IN MOTION LTD
269279402

14.84%

XCO EXCO RESOURCES
806037107

14.56%

SCSC Scansource Inc
79377W108

14.37%

SKS Saks Incorporated
M25082104

14.06%

CKSW ClickSoftware Ltd.
151290889

13.89%

CX CEMEX SAB-SPONS ADR PART CER
45166R204

13.86%

IDIX IDENIX PHARMACEUTICALS INC
H84989104

13.58%

TEL TE CONNECTIVITY LTD
064058100

13.57%

BK BANK OF NEW YORK MELLON CORP
88033G100

13.46%

THC TENET HEALTHCARE CORP
53635B107

12.86%

LQDT Liquidity Services, Inc.
779376102

12.63%

ROVI ROVI CORP
121220107

12.21%

BKW BURGER KING WORLDWIDE INC
345838106

12.16%

FRX Forest Labs
79546E104

12.09%

SBH SALLY BEAUTY HLDGS INC
00724F101

11.91%

ADBE ADOBE SYSTEMS INC
65248E104

11.82%

NWSA NEWS CORP
421933102

11.64%

HMA HEALTH MGMT ASSOC INC NEW
24702R101

11.59%

DELL Dell Inc
31428X106

11.54%

FDX FEDEX CORP
62944T105

11.29%

NVR NVR INC
741503403

11.13%

PCLN PRICELINE COM INC
512815101

10.95%

LAMR LAMAR ADVERTISING CO
84264A102

10.87%

SSE Southern Connecticut Bancorp
037604105

10.57%

APOL Apollo Group Inc Cl A
90341W108

10.51%

LCC US Airways Group Inc
150870103

10.28%

CE CELANESE CORP-SERIES A
66988K102

10.24%

NCQ NOVACOPPER INC
191216100

10.21%

KO COCA COLA COMPANY
20854P109

10.09%

CNX CONSOL ENERGY INC
14040H105

10.08%

COF CAPITAL ONE FINANCIAL CORP
29788A104

10.06%

EOPN E2open, Inc.
12504L109

10.02%

CBG CBRE GROUP INC
489170100

9.97%

KMT Kennametal Inc.
871503108

9.90%

SYMC SYMANTEC CORP
G02602103

9.71%

DOX AMDOCS LTD COMMON STOCK GBP.00
30226D106

9.59%

EXTR EXTREME NETWORKS INC
25490A309

9.48%

DTV DIRECTV
G27823106

9.16%

DLPH Delphi Automotive PLC
774341101

9.09%

COL Rockwell Collins Inc.
880779103

9.08%

TEX TEREX CORP NEW
984332106

9.01%

YHOO YAHOO! INC
44047T109

8.94%

HZNP HORIZON PHARMA INC
45031U101

8.88%

SFI ISTAR FINL INC
447011107

8.68%

HUN HUNTSMAN CORP
66987E206

8.58%

NG NOVAGOLD RES INC
57686G105

8.58%

MATX Matson Inc
003881307

8.54%

ACTG ACACIA RESH CORP
887317303

8.36%

TWX TIME WARNER INC
53219L109

8.33%

LPNT LIFEPOINT HOSPITALS INC
808513105

8.28%

SCHW SCHWAB CHARLES CORP NEW
751212101

8.16%

RL RALPH LAUREN CORP
812139400

8.15%

ZZ Sealy Corp
370023103

7.92%

GGP GENERAL GROWTH PPTYS INC NEW
171779309

7.86%

CIEN Ciena Corp.
73172K104

7.73%

PLCM Polycom Inc
774415103

7.72%

ROC ROCKWOOD HLDGS INC
07556Q105

7.69%

BZH Beazer Homes USA Inc
31620M106

7.65%

FIS Fidelity National Information
39530A104

7.53%

GRH Greenhunter Energy Inc-Restric
103304101

7.42%

BYD BOYD GAMING CORP
257559203

7.42%

UFS DOMTAR CORP
20451N101

7.41%

CMP Compass Minerals
125581801

7.36%

CIT CIT GROUP INC.
45666Q102

7.27%

INFA INFORMATICA CORP
G3157S106

7.26%

ESV ENSCO PLC
251893103

7.23%

DV DeVry Inc.
256677105

7.14%

DG DOLLAR GEN CORP NEW
Y2573F102

7.09%

FLEX FLEXTRONICS INTL LTD
439734104

6.98%

HFBC HopFed Bancorp Inc.
20564W105

6.97%

SCOR COMSCORE INC
302130109

6.96%

EXPD Expeditors Int’l Wash Inc
95082P105

6.95%

WCC WESCO INTL INC (this can’t be right)
125509109

6.93%

CI CIGNA CORP
192446102

6.86%

CTSH COGNIZANT TECHNOLOGY SOLUTIO
588056101

6.75%

MERC Mercer International Inc.
232820100

6.69%

CYT CYTEC INDUSTRIES INC
591708102

6.68%

PCS METROPCS COMMUNICATIONS INC
90384S303

6.50%

ULTA ULTA SALON COSMETCS & FRAG I
868536103

6.46%

SVU SUPERVALU INC
413160102

6.44%

HLIT HARMONIC INC
204018105

6.39%

CPBC Community Partners Bancorp
382550101

6.24%

GT GOODYEAR TIRE &
265504100

6.18%

DNKN DUNKIN BRANDS GROUP INC
432589109

6.12%

HSH Hillshire Brands Co
918194101

6.08%

WOOF VCA Antech Inc
024061103

5.90%

AXL American Axle & Mfg Hldgs
233326107

5.86%

DST D S T SYSTEMS INC
58501N101

5.84%

MDVN MEDIVATION INC
867892101

5.75%

SHO SUNSTONE HOTEL INVS INC N
143130102

5.72%

KMX CARMAX INC
073302101

5.42%

BEAV BE Aerospace, Inc.
026874784

5.34%

AIG AMERICAN INTL GROUP INC
863667101

5.30%

SYK Stryker Corp
05615F102

5.30%

BWC BABCOCK & WILCOX CO NEW

 

That’s all for now.  Comments are welcomed below.

 

Full disclosure: long Oracle Corporation (NASDAQ:ORCL), Wells Fargo & Company (NYSE:WFC), Staples, Inc. (NASDAQ:SLPS), ENSCO PLC (NYSE:ESV), TE Connectivity Ltd. (NYSE:TEL)

 By David Merkel, CFA of Aleph Blog

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About the Author

David Merkel
David J. Merkel, CFA, FSA — 2010-present, I am working on setting up my own equity asset management shop, tentatively called Aleph Investments. It is possible that I might do a joint venture with someone else if we can do more together than separately. From 2008-2010, I was the Chief Economist and Director of Research of Finacorp Securities. I did a many things for Finacorp, mainly research and analysis on a wide variety of fixed income and equity securities, and trading strategies. Until 2007, I was a senior investment analyst at Hovde Capital, responsible for analysis and valuation of investment opportunities for the FIP funds, particularly of companies in the insurance industry. I also managed the internal profit sharing and charitable endowment monies of the firm. From 2003-2007, I was a leading commentator at the investment website RealMoney.com. Back in 2003, after several years of correspondence, James Cramer invited me to write for the site, and I wrote for RealMoney on equity and bond portfolio management, macroeconomics, derivatives, quantitative strategies, insurance issues, corporate governance, etc. My specialty is looking at the interlinkages in the markets in order to understand individual markets better. I no longer contribute to RealMoney; I scaled it back because my work duties have gotten larger, and I began this blog to develop a distinct voice with a wider distribution. After three-plus year of operation, I believe I have achieved that. Prior to joining Hovde in 2003, I managed corporate bonds for Dwight Asset Management. In 1998, I joined the Mount Washington Investment Group as the Mortgage Bond and Asset Liability manager after working with Provident Mutual, AIG and Pacific Standard Life. My background as a life actuary has given me a different perspective on investing. How do you earn money without taking undue risk? How do you convey ideas about investing while showing a proper level of uncertainty on the likelihood of success? How do the various markets fit together, telling us us a broader story than any single piece? These are the themes that I will deal with in this blog. I hold bachelor’s and master’s degrees from Johns Hopkins University. In my spare time, I take care of our eight children with my wonderful wife Ruth.

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