Insights into the Investment Shifts of a Veteran Value Investor
Arnold Van Den Berg (Trades, Portfolio), the seasoned value investor and founder of Century Management in 1974, continues to apply his deep-rooted investment philosophy influenced by Benjamin Graham. Focused on acquiring stocks at a significant discount to their intrinsic value, Van Den Berg's latest 13F filing for the second quarter of 2024 reveals strategic portfolio adjustments, emphasizing his commitment to a disciplined investment approach. His portfolio typically includes 35-40 U.S.-based companies, reflecting a diverse range of industries.
New Additions to the Portfolio
Arnold Van Den Berg (Trades, Portfolio) introduced two new stocks to his portfolio in the second quarter of 2024. The additions include:
- Bristow Group Inc (VTOL, Financial), with 15,759 shares, making up 0.16% of the portfolio and valued at $528,400.
- Generac Holdings Inc (GNRC, Financial), comprising 1,570 shares, which represent about 0.06% of the portfolio, with a total value of $207,590.
Significant Increases in Existing Positions
Van Den Berg also strategically increased his stakes in several existing holdings:
- Exxon Mobil Corp (XOM, Financial) saw an addition of 192,173 shares, bringing the total to 194,048 shares. This adjustment marks a 10,249.23% increase in share count, impacting the portfolio by 6.57%, with a total value of $22,338,780.
- UnitedHealth Group Inc (UNH, Financial) with an additional 4,245 shares, bringing the total to 10,159 shares. This represents a 71.78% increase in share count, totaling $5,173,580 in value.
Complete Exits from Certain Holdings
In a notable shift, Arnold Van Den Berg (Trades, Portfolio) exited completely from five positions during the quarter:
- Pioneer Natural Resources Co (PXD, Financial): All 87,479 shares were sold, impacting the portfolio by -6.73%.
- Apple Inc (AAPL, Financial): The complete liquidation of 3,396 shares, causing a -0.17% impact on the portfolio.
Reductions in Key Positions
Adjustments were also made to reduce exposure in several stocks:
- Alphabet Inc (GOOG, Financial) was reduced by 13,610 shares, leading to a -14.41% decrease in shares and a -0.61% impact on the portfolio. The stock traded at an average price of $170.1 during the quarter and has returned -6.73% over the past three months and 13.78% year-to-date.
- Qualcomm Inc (QCOM, Financial) saw a reduction of 5,441 shares, resulting in an -8.75% reduction in shares and a -0.27% impact on the portfolio. The stock traded at an average price of $188.89 during the quarter and has returned -11.32% over the past three months and 16.46% year-to-date.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, Arnold Van Den Berg (Trades, Portfolio)'s portfolio included 108 stocks. The top holdings were 6.64% in Berkshire Hathaway Inc (BRK.B, Financial), 6.63% in Exxon Mobil Corp (XOM, Financial), 5.11% in Diamondback Energy Inc (FANG, Financial), 4.82% in Sprott Physical Gold Trust (PHYS, Financial), and 4.4% in Alphabet Inc (GOOG). The holdings are mainly concentrated across nine industries, including Energy, Financial Services, Technology, Communication Services, Healthcare, Consumer Cyclical, Industrials, Basic Materials, and Real Estate.
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.
