Insight into the Investment Moves of a Value Investing Stalwart
Arnold Van Den Berg (Trades, Portfolio), the seasoned value investor and founder of Century Management, has once again demonstrated his investment acumen in the third quarter of 2023. With a career that spans nearly five decades, Van Den Berg has consistently outperformed indices by adhering to the principles of Benjamin Graham. His strategy revolves around identifying the intrinsic value of companies and investing at a substantial discount to ensure a margin of safety. Typically, his portfolio comprises 35-40 U.S.-based companies, reflecting his deep-rooted belief in value investment principles.
New Additions to the Portfolio
Arnold Van Den Berg (Trades, Portfolio)'s latest 13F filing reveals strategic additions to his portfolio, with a focus on diverse sectors. The highlights include:
- Elevance Health Inc (ELV, Financial), a significant new entrant with 10,377 shares, now constitutes 1.58% of the portfolio, valued at $4.52 million.
- AZZ Inc (AZZ, Financial), with a purchase of 11,900 shares, makes up 0.19% of the portfolio, amounting to $542,400.
- Callon Petroleum Co (CPE, Financial), added to the portfolio with 6,005 shares, represents 0.08% and is valued at $234,920.
Key Position Increases
Van Den Berg has also ramped up his investments in several existing holdings, notably:
- Comstock Resources Inc (CRK, Financial), where he boosted his stake by a remarkable 194.73%, adding 249,486 shares for a total of 377,603 shares, impacting the portfolio by 0.96% and valued at $4.16 million.
- Sensata Technologies Holding PLC (ST, Financial), with an additional 44,367 shares, increasing the total to 74,184 shares, marking a 148.8% rise in share count and a value of $2.81 million.
Strategic Exits
The third quarter also saw Van Den Berg exit several positions, including:
- Verizon Communications Inc (VZ, Financial), where all 75,049 shares were sold, impacting the portfolio by -1%.
- DigitalOcean Holdings Inc (DOCN, Financial), with a complete liquidation of 53,892 shares, causing a -0.78% portfolio impact.
Significant Reductions
Moreover, Van Den Berg reduced his stakes in 50 companies, with the most notable reductions being:
- Powell Industries Inc (POWL, Financial), cut by 53,579 shares, leading to a -58.92% decrease and a -1.17% portfolio impact. The stock's average trading price was $74.41 during the quarter, with a 3-month return of 2.47% and a year-to-date return of 137.52%.
- AT&T Inc (T, Financial), trimmed by 142,392 shares, resulting in a -91.8% reduction and a -0.82% portfolio impact. The stock traded at an average price of $14.66 during the quarter, with a 3-month return of 10.49% and a year-to-date decline of -9.69%.
Portfolio Overview
As of the third quarter of 2023, Arnold Van Den Berg (Trades, Portfolio)'s portfolio is composed of 106 stocks. The top holdings include 7.56% in Berkshire Hathaway Inc (BRK.B, Financial), 7.36% in Pioneer Natural Resources Co (PXD, Financial), 5.03% in Alphabet Inc (GOOG, Financial), 5.03% in Diamondback Energy Inc (FANG, Financial), and 4.26% in SLB (SLB, Financial). The investments are predominantly concentrated across nine industries, showcasing a diversified approach within the portfolio.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
