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What value investors bought and sold in Q1 2013

In Q1 2013, 3 value investors filed 13Fs. The most popular buy was Genesee & Wyo, added to by 1 managers, followed by Level 3 Communications and Commonwealth. The most sold was Charter Communications, cut by 1 manager, with Cit Group and Delphi Automotive close behind. First Bancorp/Puerto Rico was the most widely held, owned by 1.

  • 3 managers filed

Most widely held

Companies held by the most managers in their Q1 2013 13F. How this works
How many hold it, the combined value, and the average and largest portfolio weight. Changes compare with the Q4 filings; value changes include share-price moves.
Most widely held companies
Biggest holders
First Bancorp/Puerto RicoFBP1$316m+36% vs Q46.4%6.4%Oaktree Capital Management 6.4%
Exco ResourcesEXR21$262m+5.3% vs Q45.3%5.3%Oaktree Capital Management 5.3%
Charter CommunicationsCHTR1$208m−78% vs Q44.2%4.2%Oaktree Capital Management 4.2%
Delphi Automotive1$178m−27% vs Q43.6%3.6%Oaktree Capital Management 3.6%
Dynegy1$173m+25% vs Q43.5%3.5%Oaktree Capital Management 3.5%
StrykerSYK1$122m9.8%9.8%Fundsmith 9.8%
DR Pepper Snapple Group1$121m9.7%9.7%Fundsmith 9.7%
Domino's PizzaDPZ1$112m9.0%9.0%Fundsmith 9.0%
Becton Dickinson & Co1$99.9m8.0%8.0%Fundsmith 8.0%
Automatic Data Processing1$91.1m7.3%7.3%Fundsmith 7.3%
MicrosoftMSFT1$90.3m7.3%7.3%Fundsmith 7.3%
Procter & GamblePG1$88.1m7.1%7.1%Fundsmith 7.1%
3M CompanyMMM1$86.3m6.9%6.9%Fundsmith 6.9%
Johnson & JohnsonJNJ1$76.6m6.1%6.1%Fundsmith 6.1%
Philip Morris InternationalPM1$67.1m5.4%5.4%Fundsmith 5.4%
PepsicoPEP1$66.1m5.3%5.3%Fundsmith 5.3%
Genesee & WyoGWR1$59.7m+58% vs Q41.2%1.2%Oaktree Capital Management 1.2%
WatersWAT1$55.3m4.4%4.4%Fundsmith 4.4%
Crimson Exploration1$44.4m+4.4% vs Q40.9%0.9%Oaktree Capital Management 0.9%
AlereALR 3 PERP B1$44.2m0.9%0.9%Oaktree Capital Management 0.9%
Colgate-PalmoliveCL1$42.8m3.4%3.4%Fundsmith 3.4%
Choice Hotels InternationalCHH1$42.6m3.4%3.4%Fundsmith 3.4%
United TechnologiesUTXZ1$41.3m+9.0% vs Q40.8%0.8%Oaktree Capital Management 0.8%
Caesars EntertainmentCZR1$40.3m+129% vs Q40.8%0.8%Oaktree Capital Management 0.8%
Vishay IntertechnologyVSH1$37.4m+28% vs Q40.8%0.8%Oaktree Capital Management 0.8%
Alliance Healthcare Services1$37.0m0.8%0.8%Oaktree Capital Management 0.8%
Sigma-Aldrich1$31.9m2.6%2.6%Fundsmith 2.6%
McdonaldsMCD1$31.5m2.5%2.5%Fundsmith 2.5%
Getty RealtyGTY1$28.7m+12% vs Q40.6%0.6%Oaktree Capital Management 0.6%
EPR PropertiesEPR1$27.3m−2.6% vs Q40.6%0.6%Oaktree Capital Management 0.6%
Apollo Global Management1$27.1m+42% vs Q40.6%0.6%Oaktree Capital Management 0.6%
Safeway1$26.4m+46% vs Q40.5%0.5%Oaktree Capital Management 0.5%
NRG EnergyNRG1$24.2m+15% vs Q40.5%0.5%Oaktree Capital Management 0.5%
Mgic InvestmentMTG1$22.3m0.5%0.5%Oaktree Capital Management 0.5%
VisaV1$20.9m1.7%1.7%Fundsmith 1.7%
American International GroupAIG1$20.4m+10.0% vs Q40.4%0.4%Oaktree Capital Management 0.4%
Level 3 Communications1$20.3m+35% vs Q40.4%0.4%Oaktree Capital Management 0.4%
Discovery Communications Inc SDISCK1$18.4m100.0%100.0%Akre Capital Management 100.0%
General MotorsGM1$18.4m−71% vs Q40.4%0.4%Oaktree Capital Management 0.4%
Cit GroupCIT1$17.7m−88% vs Q40.4%0.4%Oaktree Capital Management 0.4%

Most bought in Q1 2013

Companies the most managers added to or bought new, with the approximate amount bought at quarter-end prices.

Most bought companies
Who
AlereALR 3 PERP BFirst time in their 13Fs: often a new listing or spin-off11$44.2mOaktree Capital Management
Alliance Healthcare ServicesFirst time in their 13Fs: often a new listing or spin-off11$37.0mOaktree Capital Management
Mgic InvestmentMTGFirst time in their 13Fs: often a new listing or spin-off11$22.3mOaktree Capital Management
Genesee & WyoGWR1–$15.8mOaktree Capital Management
Capital Bank Financial-Cl AFirst time in their 13Fs: often a new listing or spin-off11$10.6mOaktree Capital Management
Level 3 Communications1–$7.1mOaktree Capital Management
Commonwealth1–$6.5mOaktree Capital Management
Apollo Global Management1–$3.2mOaktree Capital Management
Preformed Line ProductsPLPCFirst time in their 13Fs: often a new listing or spin-off11$2.5mOaktree Capital Management
United TechnologiesUTXZ1–$599kOaktree Capital Management
Crimson Exploration1–$0kOaktree Capital Management

Most sold in Q1 2013

Companies the most managers trimmed or sold out of, with the approximate amount sold.

Most sold companies
Who
Charter CommunicationsCHTR1–$774mOaktree Capital Management
Cit GroupCIT1–$130mOaktree Capital Management
Delphi Automotive1–$91.8mOaktree Capital Management
General MotorsGM1–$44.1mOaktree Capital Management
Omnicare Cap Trust IIOCR 4 06.15/33 B11$32.6mOaktree Capital Management
Eagle Bulk ShippingEGLE11$2.3mOaktree Capital Management
EPR PropertiesEPR1–$2.1mOaktree Capital Management

Biggest single bets

The largest positions as a share of a manager’s whole 13F portfolio.

Largest positions by portfolio weight
Discovery Communications Inc SDISCKAkre Capital Management100.0%$18.4m
StrykerSYKFundsmith9.8%$122m
DR Pepper Snapple GroupFundsmith9.7%$121m
Domino's PizzaDPZFundsmith9.0%$112m
Becton Dickinson & CoFundsmith8.0%$99.9m
Automatic Data ProcessingFundsmith7.3%$91.1m
MicrosoftMSFTFundsmith7.2%$90.3m
Procter & GamblePGFundsmith7.1%$88.1m
3M CompanyMMMFundsmith6.9%$86.3m
First Bancorp/Puerto RicoFBPOaktree Capital Management6.4%$316m
Johnson & JohnsonJNJFundsmith6.1%$76.6m
Philip Morris InternationalPMFundsmith5.4%$67.1m
Exco ResourcesEXR2Oaktree Capital Management5.3%$262m
PepsicoPEPFundsmith5.3%$66.1m
WatersWATFundsmith4.4%$55.3m
Charter CommunicationsCHTROaktree Capital Management4.2%$208m
Delphi AutomotiveOaktree Capital Management3.6%$178m
DynegyOaktree Capital Management3.5%$173m
Colgate-PalmoliveCLFundsmith3.4%$42.8m
Choice Hotels InternationalCHHFundsmith3.4%$42.6m
Sigma-AldrichFundsmith2.6%$31.9m
McdonaldsMCDFundsmith2.5%$31.5m
VisaVFundsmith1.7%$20.9m
Genesee & WyoGWROaktree Capital Management1.2%$59.7m
Crimson ExplorationOaktree Capital Management0.9%$44.4m

From each manager’s 13F for the quarter. Amounts bought and sold are estimates at quarter-end prices; a new listing or spin-off can show as a purchase.