John Burbank is the chief investment officer of Passport Capital LLC, the global investment firm he founded in 2000. He manages a portfolio composed of 119 stocks with a total value of $5.55 billion. The following are his largest trades during the third quarter.
The investor reduced his stake in Liberty Global PLCÂ (LBTYK) by 62.48% with an impact of -3.09% on the portfolio.
The company provides video, broadband internet, fixed-line telephony and mobile services across 14 countries. Recently it announced the acquisition of Cable & Wireless Communications PLC (CWC) that will create the leading consumer and B2B communications provider in Latin America and the Caribbean
The stock is trading with a forward P/E ratio of 117.65 and has been as high as $54.74 and as low as $39.71 in the past year. It is currently 27.18% below its 52-week high and 0.38% above its 52-week low.
Dodge & Cox is the largest guru shareholder with 2.46% of outstanding shares, followed by Chris Davis (Trades, Portfolio) with 2% and First Eagle Investment (Trades, Portfolio) with 1.42%.
Alphabet Inc. (GOOG) got a new position in the Burbank’s portfolio with an impact of 2.33%.
The company changed its name from Google to Alphabet on Oct. 5 and created a new entity named Google Inc. that became the wholly owned direct subsidiary of Alphabet Inc., the new public holding company. Google had strong business during the third quarter in which revenues grew 13% year over year, and it had 16% year-over-year growth for Google websites.
The stock is trading with a forward P/E ratio of 33.12 and has been as high as $762.71 and as low as $487.56 in the past year. It is currently 1.89% below its 52-week high and 53.47% above its 52-week low. According to the DCF calculator, at the current price of $748, the company looks overpriced by 21%.
Even here, the firm Dodge & Cox with 0.48% of outstanding shares is the largest shareholder among the gurus, followed by PRIMECAP Management (Trades, Portfolio) with 0.37%, Chris Davis (Trades, Portfolio) with 0.22% and Mason Hawkins (Trades, Portfolio) with 0.19% of outstanding shares. Burbank holds 0.03% of outstanding shares.
The investor reduced his stake in Memorial Resource Development Corp. (MRD) by 62.14% with an impact of -2.11% on the portfolio.
The company is formed by Memorial Resource Development LLC. It owns, acquires and develops oil and natural gas properties in North America.
The stock is trading with a forward P/E ratio of 13.45 and has been as high as $24.03 and as low as $14.61 in the past year. It is currently 29.50% below its 52-week high and 15.95% above its 52-week low. According to the DCF calculator, at its current price of $16.94, the company looks overpriced by 26%.
The investor is the largest guru shareholder with 1.61% of outstanding shares, followed by Pioneer Investments with 0.92% and Steven Cohen (Trades, Portfolio) with 0.37%.
The investor increased his stake in Dollar Tree Stores Inc. (DLTR) by 378.95% with an impact of 2.1%.
Dollar Tree Stores is an operator of discount variety stores offering merchandise at the fixed price of $1.00. Dollar Tree delivered solid results for the third quarter in which it had same-store sales growth of 2.1%, which represented its 31st consecutive quarter of positive same-store sales and gross profit increased by 93% compared to the same quarter of a year before.
The stock is trading with a P/E ratio of 48.89 and has been as high as $84.22 and as low as $60.31 in the past year. It is currently 11.54% below its 52-week high and 22.53% above its 52-week low. According to the DCF calculator, at its current price of $74.16, the company looks overpriced by 71%.
The main guru shareholder of the company is Steve Mandel (Trades, Portfolio) with 5.62% of outstanding shares followed by Chuck Akre (Trades, Portfolio) with 1.77%, Alan Fournier (Trades, Portfolio) with 1.02% and Burbank with 0.94% of outstanding shares.
Sempra Energy (SRE) got a new position in Burbank's portfolio and had an impact of 2.03% on the portfolio.
The company is an energy services holding company, whose operating units develop energy infrastructure, operate utilities and provide related services.
The stock is trading with a P/E ratio of 19.71 and has been as high as $116.30 and as low as $89.44 in the past year. It is currently 13.77% below its 52-week high and 12.12% above its 52-week low. According to the DCF calculator, at current price of $100.28, the company looks overpriced by 60%.
Jim Simons (Trades, Portfolio) is the largest guru shareholder with 0.7% of outstanding shares, followed by Burbank with 0.47% and Signature Select Canadian Fund (Trades, Portfolio) with 0.02%.
The stake of Rite Aid Corp. (RAD) has been sold out with an impact of -1.96%.
The company operates a retail drugstore chain in the United States. It operates its drugstores in 31 states across the country and in the District of Columbia. The company sells prescription drugs and an assortment of other merchandise, which it calls "front end" products. During the last quarter Rite Aid completed the acquisition of EnvisionRx in which EnvisionRx made positive contributions to Rite Aid’s performance as its Pharmacy Services Segment delivered results that were in line with the expectations of Rite Aid.
The stock is trading with a P/E ratio of 4.05 and has been as high as $9.47 and as low as $5.31 in the past year. It is currently 16.47% below its 52-week high and 48.96% above its 52-week low. According to the DCF calculator, at current price of $7.88, the company looks undervalued by 62%.
The company’s largest shareholder among the gurus is Larry Robbins with 1.18% of outstanding shares followed by First Eagle Investment (Trades, Portfolio) with 0.48%, Joel Greenblatt (Trades, Portfolio) with 0.24% and Louis Moore Bacon (Trades, Portfolio) with 0.05% of outstanding shares.
The investor reduced his stake in NRG Energy Inc. (NRG) by 43.31% with a -1.78% impact on the portfolio.
The company is a power and energy company. The stock is trading with a forward P/E ratio of 9.95 and has been as high as $31.31 and as low as $11.63 in the past year. It is currently 59.69% below its 52-week high and 8.51% above its 52-week low.
HOTCHKIS & WILEY is the largest guru shareholder with 5.15% of outstanding shares, followed by Burbank with 1.51% and George Soros (Trades, Portfolio) with 1.31%.
The investor increased his stake in CF Industries Holdings Inc. (CF) by 48.85% with an impact of 1.65% on the portfolio.
The company is a manufacturer and distributor of nitrogen and phosphate fertilizer products. The company's business is divided into two operating segments, the Nitrogen and the Phosphate segments. During the third quarter the company entered into an agreement with Chico's FAS Inc. (CHS) for the purchase of a minority equity position in CF Industries Nitrogen LLC, a wholly owned subsidiary of CF Industries Holdings Inc.
The stock is trading with a P/E ratio of 11.98 and has been as high as $70.32 and as low as $43.57 in the past year. It is currently 34.87% below its 52-week high and 5.12% above its 52-week low. According to the DCF calculator, at the current price of $45.8, the company looks overpriced by 13%.
The investor holds a stake of 2.67% of outstanding shares and is the main guru shareholder of the company, followed by first Eagle Investment with 1.4%, Jim Simons (Trades, Portfolio) with 0.45% and Kyle Bass (Trades, Portfolio) with 0.2% of outstanding shares.
The investor reduced his stake in Facebook Inc. (FB) by 433.85% with an impact of -1.59% on the portfolio.
The company is a social networking website that builds products that create utility for users, developers and advertisers.
The stock is trading with a P/E ratio of 106.98 and has been as high as $110.65 and as low as $72.00 in the past year. It is currently 3.86% below its 52-week high and 47.75% above its 52-week low. According to the DCF calculator, at its current price of $105.74, the company looks overpriced by 898%.
Frank Sands (Trades, Portfolio) is the largest guru shareholder with 0.89% of outstanding shares, followed by Steve Mandel (Trades, Portfolio) with 0.38% and Stanley Druckenmiller (Trades, Portfolio) with 0.14%.
