Tracking Robert & Jeffrey Bruce’s Bruce Fund Portfolio - Q1 2017 Update



  • Robert & Jeffrey Bruce’s 13F portfolio value increased from $383M to $418M this quarter.
  • Bruce Fund increased their IBM stake by ~23% this quarter.
  • The largest three individual stock positions are AMERCO, Nextera Energy, and Duke Energy and they add up to almost one-third of the portfolio.


Robert & Jeffrey Bruce’s 13F portfolio increased ~9% from $383M to $418M this quarter. Recent 13F reports have shown a total of around 50 positions. The largest five individual stock positions are AMERCO (UHAL), Nextera Energy (NEE), Duke Energy (DUK), Allstate (ALL), and CMS Energy (CMS), and they add up to ~45% of the 13F portfolio.

Consistent with their strategy of very long holding periods and minimal portfolio turnover, the portfolio remained relatively steady this quarter. The one major transaction was a ~23% increase in IBM position at prices between $165 and $182. The stock is now at $154.

Below is a spreadsheet that shows the changes to Robert & Jeffrey Bruce's Bruce Fund Holdings US long portfolio holdings as of Q1 2017. For a look at how the portfolio has progressed, see our previous update:



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