- Thyra Zerhusen’s 13F portfolio increased from $4.42B to $4.44B this quarter.
- Fairpointe Capital increased Stericycle & Tegna while reducing Nvidia.
- The largest three positions are Copa Holdings, Juniper Networks, and Teradata.
Thyra Zerhusen’s 13F portfolio increased marginally from $4.42B to $4.44B this quarter. Recent 13F reports have shown a total of around 70 individual stock positions in the portfolio. The largest five stakes are Copa Holdings, Juniper Networks, Teradata (TDC), Varian Medical (VAR), and Alcoa (AA) and they together add up to ~20% of the portfolio.
Below is a summary of the major moves this quarter:
Stericycle Inc. (SRCL): SRCL is a new ~2.75% portfolio stake established last quarter at prices between $93 and $128 and increased by ~140% this quarter at prices between $77 and $107. The stock currently trades below those ranges at $76.51. For investors attempting to follow Fairpointe, SRCL is a very good option to consider for further research.
Interpublic Group (IPG): IPG is now a small 0.73% position. It is a very long-term stake established in 2011 and built-up in 2012 at a cost-basis in the low-teens. Last quarter saw a huge ~62% selling at prices between $22 and $25 and that was followed with a ~25% reduction this quarter at prices between $22 and $24.50. The stock is now at $23.50. Fairpointe is harvesting long-term gains.
DeVry Education (DV): DV is a 3.15% of the portfolio stake. The original position is from H2 2012 at a cost-basis of ~$20 per share. Last quarter saw a ~30% increase at prices between $16 and $20 and the stock is now at $31.75. There was a ~10% trimming this quarter. Fairpointe is starting to harvest gains.
Lions Gate Entertainment (LGF.A) (LGF.B): LGF is a 2.87% of the portfolio position established in Q1 2016 at prices between $18.55 and $32.39 and increased by just over one-third last quarter at prices between $19.55 and $23.43. There was a ~8% further increase this quarter. For investors attempting to follow Fairpointe, LGF is a good option to consider for further research.
Office Depot (ODP): ODP is a 2.38% portfolio stake built-up over the last three quarters at prices between $3.28 and $7.73. The stock currently trades at $4.95. This quarter saw a marginal increase.
Copa Holdings (CPA): CPA is currently the largest position in the portfolio at 4.23%. The original stake is from Q2 & Q3 2015 at prices between $41 and $112. There was a ~27% selling this quarter at prices between $52 and $91 and the stock is now at $92.91.
Tegna Inc. (TGNA): TGNA is a fairly large 3.13% portfolio stake. It was established in Q2 2015 at prices between $23 and $38. Last two quarters saw a ~45% increase at prices between $20 and $25 and the stock currently trades at $22.15. For investors attempting to follow Fairpointe, TGNA is a good option to consider for further research.
Below is a spreadsheet that highlights the changes to Thyra Zerhusen's Fairpointe Portfolio US long stock portfolio as of Q3 2016. For a look at how the portfolio has progressed, see our previous update:
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