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GLG Partners LP (GLG) is an investment advisory and hedge fund management firm. It is a subsidiary of GLG Partners Inc., which in turn is the subsidiary of Man Group, Ltd. The fund manages a total of over $20 billion in assets (both equity and fixed income).

Investment Strategy: GLG Partners LP utilizes a combination of multi-strategy and long-only investment strategies, seeking to achieve consistent and superior absolute returns with low volatility and low correlations to both the equity and fixed income markets. The firm combines in-house research with independent research ideas contributed by investment banks, brokerage firms, and the sub-manager's original investment ideas. GLG Partners' investment process makes use of top-down and bottom-up analysis applied with a macro-overlay, and fundamental analysis, using a quantitative valuation approach. The firm uses leverage and the risk is spread through diversification by manager and by the strategy.

The following is a list of its top 15 buys in the last quarter, as released in its most recent 13F filing with the SEC.

Stock

Symbol

Shares Held as on 31 Dec 10

Shares Held as on 31 Mar 11

Atheros Communications Inc.

ATHR

0

292,175

Williams Companies, Inc.

WMB

746,511

1,171,173

H&R Block, Inc.

HRB

50,863

893,270

Tal International Group, Inc.

TAL

0

400,000

MetroPCS Communications, Inc.

PCS

0

901,722

PACCAAR Inc.

PCAR

0

285,766

NXP Semiconductors NV

NXPI

0

500,000

St. Jude Medical Inc.

STJ

96,333

393,730

Newfield Exploration Co.

NFX

119,547

333,017

Pride International Inc.

PDE

82,689

470,458

HCA Holdings Inc.

HCA

0

643,201

Metlife Inc.

MET

190,755

702,081

Kinder Morgan Inc.

KMI

0

814,491

Wells Fargo & Company

WFC

711,449

1,599,678

Ford Motors

F

400,037

1,266,688

Here are some of the specifics about these companies, including a brief description of their business, growth expectations (topline and bottomline) and Valuation:

Atheros Communications, Inc.

GLG bought 292,175 shares of Atheros Communications Inc. last quarter. This is a new position for the fund and is 0.47% of its portfolio. The share price of the company has increased from $35.92 on 31December 2010 to $44.66 on 31March 2011.

Atheros Communications, Inc. is a provider of wireless and wired connectivity semiconductor and system solutions serving a range of global customers, including manufacturers of networking equipment, computing devices and consumer electronics for use in both wireless and wired connected products. Atheros’ EPS forecast for the current year is $2.29 and next year is $2.59. According to consensus estimates, its topline is expected to grow 7.30% in the current year and 12.50% next year. It is trading at a forward P/E of 17.23. Out of 20 analysts covering the company, five are positive and have buy ratings and 15 have hold ratings.

Williams Companies, Inc.

GLG bought 424,662 shares of Williams companies Inc. last quarter and now holds a total of 1,171,173 shares. This position is 1.32% of its portfolio. The share price of the company has increased from $24.72 on 31 December 2010 to $31.18 on 31March 2011.

The Williams Companies, Inc. is an integrated natural gas company focused on exploration and production, midstream gathering and processing, and interstate natural gas transportation primarily in the Rocky Mountains, Gulf Coast, Pacific Northwest, Eastern Seaboard and the Marcellus Shale in Pennsylvania. Williams’ EPS forecast for the current year is $1.47 and next year is $1.74. According to consensus estimates, its topline is expected to grow 6.70% in the current year and 6.00% next year. It is trading at a forward P/E of 17.18. Out of 10 analysts covering the company, nine are positive and have buy ratings and one analyst has a hold rating.

H&R Block Inc.

GLG bought 842,407 shares of H&R Block Inc. last quarter and now holds a total of 893,270 shares. This position is 0.54% of its portfolio. The share price of the company has increased from $11.91 on 31 December 2010 to $16.74 on 31 March 2011.

H&R Block, Inc. has subsidiaries that provide tax, banking, and business and consulting services. H&R Block’s EPS forecast for the current year is $1.40 and for the next year is $1.62. According to consensus estimates, its topline is expected to decline 2.60% in the current year and grow 2.40% next year. It is trading at a forward P/E of 9.91. Out of 11 analysts covering the company, four are positive and have buy ratings and seven have hold ratings.

TAL International Group Inc.

GLG bought 400,000 shares of TAL International Group Inc. last quarter. This is a new position for the fund and is 0.52% of its portfolio. The share price of the company has increased from $30.87 on 31 December 2010 to $36.27 on 31 March 2011.

TAL International Group, Inc. is a lessor of intermodal containers and chassis. The company has two segments: Equipment Leasing and Equipment Trading. TAL’s EPS forecast for the current year is $3.41 and next year is $3.70. According to consensus estimates, its topline is expected to grow 34.30% in the current year and 6.90% next year. It is trading at a forward P/E of 8.91. Out of eight analysts covering the company, five are positive and have buy ratings and three have hold ratings.

MetroPCS Communications Inc.

GLG bought 901,722 shares of MetroPCS Communications Inc. last quarter. This is a new position for the fund and is 0.53% of its portfolio. The share price of the company has increased from $12.63 on 31 December 2010 to $16.24 on 31 March 2011.

MetroPCS Communications, Inc. is a wireless telecommunications provider in the United States. The company offers wireless broadband mobile services under the MetroPCS brand in selected metropolitan areas in the United States. MetroPCS’ EPS forecast for the current year is $1.01 and for the next year is $1.34. According to consensus estimates, its topline is expected to grow 21.40% in the current year and 11.60% in the next year. It is trading at a forward P/E of 13.49. Out of 29 analysts covering the company, 16 are positive and have buy ratings, 12 have hold ratings and one has a sell rating.

PACCAR Inc.

GLG bought 285,766 shares of PACCAR Inc. last quarter and now holds a total of 285,766 shares in the company. This position is 0.54% of its portfolio. The share price of the company has decreased from $57.34 on 31 December 2010 to $52.36 on 31 March 2011.

PACCAR Inc. is engaged in the design, manufacture and customer support of light, medium and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also provides customized financial services, information technology and truck parts related to its principle business. PACCAR’s EPS forecast for the current year is $2.66 and for the next year is $3.79. According to consensus estimates, its topline is expected to grow 50.50% in the current year and 20.30% next year. It is trading at a forward P/E of 13.23. Out of 21 analysts covering the company, seven are positive and have buy ratings, 13 have hold ratings and one has a sell rating.

NXP Semiconductors NV

GLG bought 500,000 shares of NXP Semiconductors NV last quarter. This is a new position for the fund and is 0.54% of its portfolio. The share price of the company has increased from $20.93 on 31 December 2010 to $29.97 on 31 March 2011.

NXP Semiconductors N.V. is a global semiconductor company and a supplier. The company provides high-performance mixed-signal and standard products solutions. NXP’s product solutions are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. NXP’s EPS forecast for the current year is $2.40 and for the next year is $3.18. It is trading at a forward P/E of 8.73. Out of five analysts covering the company, four are positive and have buy ratings and one has a hold rating.

St. Jude Medical Inc.

GLG bought 297,397 shares of St. Jude Medical Inc. last quarter and now holds a total of 393,730 shares. This position is 0.73% of its portfolio. The share price of the company has increased from $42.75 on 31 December 2010 to $51.26 on 31 March 2011.

St. Jude Medical, Inc. develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management; cardiology and cardiac surgery; atrial fibrillation therapy areas and neurostimulation medical devices for the management of chronic pain. St. Jude operates in four segments: Cardiac Rhythm Management (CRM), Cardiovascular (CV), Atrial Fibrillation (AF) and Neuromodulation (NMD). St. Jude’s EPS forecast for the current year is $3.31 and next year is $3.69. According to consensus estimates, its topline is expected to grow 11.20% in the current year and 7.40% next year. It is trading at a forward P/E of 14.01. Out of 32 analysts covering the company, 20 are positive and have buy ratings, 10 have hold ratings and two have sell ratings.

Newfield Exploration Company

GLG bought 213,470 shares of Newfield Exploration Company last quarter and now holds a total of 333,017 shares. This position is 0.91% of its portfolio. The share price of the company has increased from $72.11 on 31 December 2010 to $76.01 on 31 March 2011.

Newfield Exploration Company is an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas properties. The company’s domestic areas of operation include the Mid-Continent, the Rocky Mountains, onshore Texas, Appalachia and the Gulf of Mexico. Internationally, the company operates in Malaysia and China. Newfield’s EPS forecast for the current year is $4.85 and next year is $6.13. According to consensus estimates, its topline is expected to grow 43.40% in the current year and 21.40% next year. It is trading at a forward P/E of 11.33. Out of 29 analysts covering the company, 19 are positive and have buy ratings, nine have hold ratings and one has a sell rating.

Pride International Inc.

GLG bought 387,769 shares of Pride International Inc. last quarter and now holds a total of 470,458 shares in the company. This position is 0.73% of its portfolio. The share price of the company has increased from $33.00 on 31 December 2010 to $42.95 on 31 March 2011.

Pride International, Inc. is an offshore drilling contractor operating, as of February 18, 2011, a fleet of 26 rigs, consisting of five deepwater drill ships, 12 semi-submersible rigs, seven backups and two managed deepwater drilling rigs. The company also has two deepwater drill ships under construction. Pride’s EPS forecast for the current year is $2.60 and next year is $3.32. According to consensus estimates, its topline is expected to grow 32.00% in the current year and 16.00% next year. It is trading at a forward P/E of 12.45. Out of 30 analysts covering the company, eight are positive and have buy ratings; 21 have hold ratings and one has a sell rating.

HCA Holdings Inc.

GLG bought 643,201 shares of HCA Holdings Inc. last quarter. This is a new position for the fund and is 0.79% of its portfolio.

HCA Holdings, Inc. is a non-governmental hospital operator in the United States and an integrated provider of health care and related services. The company has three business segments: Western Group, Central Group and Eastern Group. The company provides services through a network of acute care hospitals, outpatient facilities, clinics and other patient care delivery settings. HCA’s EPS forecast for the current year is $2.78 and next year is $3.01. According to consensus estimates, its topline is expected to grow 5.30% next year. It is trading at a forward P/E of 11.48. Two analysts cover the company and both have buy ratings.

Metlife Inc.

GLG bought 511,326 shares of Metlife Inc. last quarter and now holds a total of 702,018 shares in the company. This position is 1.13% of its portfolio. The share price of the company has increased from $44.44 on 31 December 2010 to $44.73 on 31 March 2011.

MetLife, Inc. is a provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates, MetLife operates in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. It is organized into five segments: Insurance Products, Retirement Products, Corporate Benefit Funding and Auto & Home. Metlife’s EPS forecast for the current year is $5.18 and next year is $5.80. According to consensus estimates, its topline is expected to grow 22.30% in the current year and 5.60% next year. It is trading at a forward P/E of 7.64. Out of 20 analysts covering the company, 17 are positive and have buy ratings and three have hold ratings.

Kinder Morgan Inc.

GLG bought 814,491 shares of Kinder Morgan Inc last quarter. This is a new position for the fund and is 0.87% of its portfolio.

Kinder Morgan's operations are conducted through its subsidiaries and are grouped into five business segments: Products Pipelines, Natural Gas Pipelines, CO2, Terminals and Kinder Morgan Canada. The company has 20% interest in NGPL PipeCo (NGPL), the owner of Natural Gas Pipeline Company of America, assets pursuant to a 15-year operating agreement. KMI’s EPS forecast for the current year is $1.08 and next year is $1.24. According to consensus estimates, its topline is expected to grow 3.80% in the current year and 8.50% next year. It is trading at a forward P/E of 22.18. Out of 12 analysts covering the company, five are positive and have buy ratings and seven have hold ratings.

Wells Fargo & Company

GLG bought 888,229 shares of Wells Fargo & Co. last quarter and now holds a total of 1,599,678 shares in the company. This position is 1.83% of its portfolio. The share price of the company has increased from $30.99 on 31 December 2010 to $31.71 on 31 March 2011.

Wells Fargo & Company is a diversified financial services company. The company provides banking, insurance, investments, mortgage banking, investment banking, retail banking, brokerage, and consumer finance through banking stores, the Internet and other distribution channels to consumers, businesses and institutions in 50 states, the District of Columbia, and in other countries. The company operates in three segments: Community Banking; Wholesale Banking; and Wealth, Brokerage and Retirement. Wells Fargo’s EPS forecast for the current year is $2.77 and for the next year is $3.46. According to consensus estimates, its topline is expected to decline 4.00% in the current year and grow 4.40% in the next year. It is trading at a forward P/E of 8.31. Out of 31 analysts tracking the stock, 20 are positive and have buy ratings; nine have hold ratings and two have sell ratings.

Ford Motor Company

GLG bought 866,651 shares of Ford Motor Company last quarter and now holds a total of 1,266,688 shares in the company. This position is 0.68% of its portfolio. The share price of the company has decreased from $16.79 on 31 December 2010 to $14.91 on 31 March 2011.

Ford Motor Company is a producer of cars and trucks. Ford and its subsidiaries are also engaged in other businesses, including financing vehicles. It operates under two segments: Automotive Services and Financial Services. Ford’s EPS forecast for the current year is $1.92 and for the next year is $2.01. According to consensus estimates, its topline is expected to grow 12.90% in the current year and 9.20% in the next year. It is trading at a forward P/E of 7.45. Out of 20 analysts covering the stock, 12 are positive and have buy ratings and eight have hold ratings.

Source: The Top 15 Buys of GLG Partners