Insight into Ruane Cunniff (Trades, Portfolio)'s Q2 2024 Portfolio Adjustments
Ruane Cunniff (Trades, Portfolio), a firm established by Bill Ruane and Rick Cunniff in 1969, continues to make strategic investment moves based on their philosophy of owning and holding quality businesses. The firm's approach, deeply rooted in the teachings of Benjamin Graham, focuses on intensive research and rational decision-making. Their recent 13F filing for the second quarter of 2024 reveals significant adjustments, including new buys and position changes, reflecting their commitment to this long-term investment strategy.
Summary of New Buys
Ruane Cunniff (Trades, Portfolio) has expanded its portfolio by adding three new stocks. Notably:
- Charter Communications Inc (CHTR, Financial) stands out with 454,226 shares, making up 2.12% of the portfolio, valued at $135.8 million.
- Expeditors International of Washington Inc (EXPD, Financial) follows, with 102,132 shares, representing about 0.2% of the portfolio, valued at $12.7 million.
- The Goldman Sachs Group Inc (GS, Financial) was also added with 450 shares, totaling $203,540 in value.
Key Position Increases
The firm also increased its stakes in several companies:
- Group 1 Automotive Inc (GPI, Financial) saw an addition of 643 shares, bringing the total to 3,427 shares. This adjustment marks a 23.1% increase in share count, valued at $1,018,780.
- Lithia Motors Inc (LAD, Financial) had 393 shares added, bringing the total to 2,724 shares, marking a 16.86% increase, valued at $687,670.
Key Position Reductions
Conversely, Ruane Cunniff (Trades, Portfolio) reduced positions in 20 stocks, with significant reductions in:
- Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial), which saw a reduction of 692,927 shares, a -18.64% decrease, impacting the portfolio by -1.46%. The stock had an average trading price of $151.69 during the quarter.
- Intercontinental Exchange Inc (ICE, Financial) was reduced by 245,844 shares, a -4.59% decrease, impacting the portfolio by -0.52%. The stock traded at an average price of $134.36 during the quarter.
Portfolio Overview
As of the second quarter of 2024, Ruane Cunniff (Trades, Portfolio)'s portfolio included 37 stocks. The top holdings were 10.9% in Intercontinental Exchange Inc (ICE), 8.94% in Charles Schwab Corp (SCHW, Financial), 8.65% in Elevance Health Inc (ELV, Financial), 8.19% in Taiwan Semiconductor Manufacturing Co Ltd (TSM), and 7.88% in Alphabet Inc (GOOGL, Financial). The investments are primarily concentrated across seven industries: Financial Services, Communication Services, Healthcare, Technology, Industrials, Consumer Cyclical, and Consumer Defensive.
This detailed overview of Ruane Cunniff (Trades, Portfolio)'s recent portfolio adjustments provides valuable insights into their strategic investment decisions, reflecting their commitment to a disciplined, research-driven approach to value investing.
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.
