Insight into Bruce & Co's Latest Investment Moves and Portfolio Strategy
Robert Bruce (Trades, Portfolio), the seasoned investor behind Bruce & Co, has recently disclosed his 13F filing for the second quarter of 2024. Bruce, alongside his son Robert Jeffrey Bruce, manages the Bruce Fund (BRUFX), which is known for its focus on common stocks, high-yield and distressed debt, and occasionally long-term U.S. government securities. The fund primarily targets small- and mid-cap stocks but does not shy away from large-cap investments, convertible, and distressed bonds. The investment philosophy is centered around acquiring distressed companies at a discount, aiming for a significant turnaround.
Summary of New Buys
During the quarter, Robert Bruce (Trades, Portfolio) made a notable new addition to his portfolio:
- WEC Energy Group Inc (WEC, Financial) was purchased, adding 4,509 shares to the portfolio. This new position accounts for 0.12% of the total portfolio, valued at approximately $353.78 million.
Key Position Increases
Robert Bruce (Trades, Portfolio) strategically increased his holdings in several stocks, with significant adjustments in:
- AbbVie Inc (ABBV, Financial), where an additional 23,500 shares were acquired, bringing the total to 161,500 shares. This increase of 17.03% in share count had a 1.35% impact on the portfolio, with the total value of the position now standing at $27,700,480.
- U-Haul Holding Co (UHAL.B, Financial) also saw an increase of 49,600 shares, resulting in a total of 542,950 shares. This adjustment represents a 10.05% increase in share count, valued at $32,587,860.
Key Position Reductions
There were also reductions in the portfolio:
- Bausch Health Companies Inc (BHC, Financial) was reduced by 94,000 shares, a 14.6% decrease in shares, impacting the portfolio by -0.34%. The stock traded at an average price of $7.57 during the quarter and has seen a return of -20.22% over the past three months and -30.86% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Robert Bruce (Trades, Portfolio)'s investment portfolio comprised 38 stocks. The top holdings were notably concentrated in several sectors, with significant stakes in:
- U-Haul Holding Co (UHAL.B, Financial) at 10.89%
- Merck & Co Inc (MRK, Financial) at 9.29%
- AbbVie Inc (ABBV, Financial) at 9.26%
- NextEra Energy Inc (NEE, Financial) at 7.89%
- Allstate Corp (ALL, Financial) at 6.96%
This detailed overview of Robert Bruce (Trades, Portfolio)'s Q2 2024 investment activities provides valuable insights into his strategic thinking and portfolio management, reflecting a keen focus on long-term value creation through distressed assets and strategic stock picks.
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.
