Longleaf Partners disclosed that its equity portfolio for the second-quarter had a market value of around $6.29 billion based on its 13F filing with the Securities and Exchange Commission.
Southeastern Asset Management is the advisor of Longleaf Partners. Mason Hawkins is the chairman and chief executive officer of the investment management firm. Longleaf Partners primarily invests in a limited number of small-cap companies in the United States that are significantly undervalued to achieve long-term capital growth.
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The filing of Longleaf Partners showed that it had a stake in 15 equities during the second quarter.
Longleaf Partners’ increased positions
During the quarter, Longleaf Partners increased its stake in Koninklijke Philips (OTCMKTS:PHGFF) to 9,122,495 shares and Koninklijke Philips NV (ADR) (NYSE:PHG) to 2,734,493 shares.
Koninklijke Philips NV is based in Netherlands, and it is the parent company of Philips Group. The company operates in three business sectors including healthcare, consumer lifestyle and lighting.
Koninklijke Philips NV (ADR) (NYSE:PHG) recently partnered with Accenture Plc (NYSE:ACN), an IT consulting company to develop a technology that would help patients with amyotrophic lateral sclerosis (ALS) to be able to control devices in their surroundings. ALS is a neurodegenerative disease that affects the muscles and hinders the ability of an individual to move and communicate.
Koninklijke Philips and Accenture developed the software that enables ALS patients to perform basic activities using brainwaves such as sending alerts for help and turning on lights. The software is integrated into the Emotiv Insight Brainwave, a wearable device that interprets brainwaves and transforms them into a visual interface on tablets.
The wearable device was built by Emotiv Systems, and it is connected to Philips products including the Lifeline Medical Alerts Service, Smart TV and Hue personal lighting system. The Emotiv Insight Brainwave also records eye and voice commands.
Longleaf Partners also boosted its stake in Cheung Kong Holdings Ltd (ADR) (OTCMKTS:CHEUY) (HKG:0001) to 34,067,000 shares. The company is based in Hong Kong, and it is engaged in investment holding and project management.
The company recently reported its financial results for the first-half of 2014. Its profit increased 59% t0 HK$21.4 billion ($2.76 billion) and core operating income of HK$7.3 billion ($940 million), an increase of 15%.
Longleaf Partners’ reduced position
Longleaf Partners reduced its stake in Mondelez International Inc (NASDAQ:MDLZ) to 11,269,500 shares. The snack food manufacturer’s recent quarterly financial results are weaker compared in the previous quarter. The company reported 1.8% decline in revenues to $8.44 billion compared with the $8.71 billion in revenues estimated by analysts. Its earnings were $0.40 per share, one cent higher than the consensus estimate.