Below is a spreadsheet that highlights the changes to David Winters'
Wintergreen Advisors US long stock portfolio as of Q1 2013. For a look
at how his portfolio has progressed, see our previous update:
Wintergreen's portfolio vaulted around 19% this quarter from $759M to $906M. There were several minor stake increases: Canadian Natural Resources (CNQ), Coca Cola (KO), and Franklin Resources (BEN) were all upped incrementally and they now account for 10.73%, 9.04%, and 12.91% of this heavily concentrated portfolio. The only new position is a very small 0.63% stake in Boeing (BA). The other major activity was adjustments to allocations to tobacco companies which together account for close to 29% of the portfolio: Altria Group (MO) was reduced by around one-fourth while Philip Morris (PM) and Reynolds American (RAI) were incremented by close to 26% and 40% respectively. MO, PM, and RAI now account for 7.92%, 11.85%, and 10.04% of the portfolio respectively.
Wintergreen's portfolio vaulted around 19% this quarter from $759M to $906M. There were several minor stake increases: Canadian Natural Resources (CNQ), Coca Cola (KO), and Franklin Resources (BEN) were all upped incrementally and they now account for 10.73%, 9.04%, and 12.91% of this heavily concentrated portfolio. The only new position is a very small 0.63% stake in Boeing (BA). The other major activity was adjustments to allocations to tobacco companies which together account for close to 29% of the portfolio: Altria Group (MO) was reduced by around one-fourth while Philip Morris (PM) and Reynolds American (RAI) were incremented by close to 26% and 40% respectively. MO, PM, and RAI now account for 7.92%, 11.85%, and 10.04% of the portfolio respectively.
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