- Michael Price’s 13F portfolio remained almost steady at ~$753M this quarter.
- MFP Investors increased Continental Resources while reducing Hess Corporation.
- The largest three individual stock positions are Intel Corporation, BMC Stock Holdings, and Dolby Laboratories and they add up to ~23% of the portfolio.
Michael Price’s 13F portfolio remained almost steady at ~$753M
this quarter. The portfolio is diversified with recent 13F reports showing well
over 100 individual stock positions. The top five stakes are Intel Corporation
(INTC), BMC Stock Holdings (BMCH), Dolby Laboratories (DLB), Trinity Place
Holdings (TPHS), and Teva Pharmaceuticals and they add up to ~30% of the 13F
portfolio.
Below is a look at the significant moves this quarter:
Continental Resources
(CLR): CLR is a 1.80% portfolio position established in Q4 2014 at prices
between $32 and $65. Q4 2015 also saw a ~57% increase at prices between $20 and
$38. The pattern reversed last quarter: ~36% selling at prices between $29 and
$46. There was a 30% increase this quarter at prices between $41 and $52. The
stock currently trades at $52.64.
Boston Scientific
(BSX): BSX is a long-term 2.21% of the portfolio stake. Recent activity
follow: Q1 2016 saw a ~10% trimming and that was followed with a ~50% reduction
last quarter at prices between $18.81 and $23.32. There was another ~22%
selling this quarter at prices between $23 and $25. The original position is
from 2012 established in the mid-single-digits. The stock is now at $22.05. MFP
is harvesting gains.
Ally Financial (ALLY)
& Westlake Chemical (WLK): These two stakes saw large ~130% increases last
quarter. The ALLY stake increase happened at prices between $15 and $19 while
the WLK stake increase was at prices between $40 and $52. ALLY and WLK stakes
are now at 1.67% and 1.78% of the portfolio respectively. ALLY was kept steady
while the WLK position saw a minor increase this quarter. ALLY and WLK
currently trade at $19.72 and $59.45 respectively.
Below is a spreadsheet that shows the changes to Michael
Price's MFP Investors US long portfolio holdings as of Q3 2016. For a look at
how the portfolio has progressed, see our previous update:
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