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Wellington Management Company, LLP is an investment advisory and hedge fund firm managing over $300bn in equity assets. The firm manages Hartford series of funds in addition to other funds. WMC caters to individuals, institutions and pension and profit sharing plans, charitable organizations, banking and corporations.

Investment Strategy: Wellington Management employs various strategies covering domestic and international markets. The firm looks for attractive investments across different market-cap and style spectrums. The investment process generally involves understanding global trends and outlooks for securities and sectors, and evaluating potential candidates on valuation, models, opinion and recommendations from different sources. The global value strategy focuses on financially sound companies that are out of favor, display potential for above average returns, and are selling at low P/E ratios. The stock selection process combines fundamental research and valuation analysis from both quantitative and qualitative perspectives. Investments are primarily made in large-cap companies in developed markets, as well as in global companies located in emerging markets. Wellington Management Company also applies capital markets, currency, macroeconomic and technical analyses. The firm carries out proprietary research shared by various teams located globally.

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.

Company
Symbol
Shares held 12-31-2010
Shares held 03-31-2011
Chesapeake Energy Corporation
9,113,762
35,203,337
Petroleo Brasileiro SA
24,276,484
45,078,900
JPMorgan Chase & Co
76,912,842
89,651,480
NVIDIA Corporation
0
31,662,866
BP PLC
23,639,850
36,656,505
Agilent Technologies Inc
3,814,781
15,684,560
Imperial Oil Ltd
4,154,147
13,208,965
Canadian Natural Resources Limited
18,964,584
27,798,564
Citrix Systems Inc
6,399,540
11,425,649
Avago Technologies Limited
340,500
11,487,419
Prudential Financial Inc
2,694,643
8,083,662
Teva Pharmaceutical Industries Limited
30,951,834
37,505,634
Walt Disney Company
4,701,395
12,115,502
Alpha Natural Resources Inc
0
5,369,946
Cardinal health, inc.
28,049,302
35,449,726

Here are some of the specifics about these companies, including a brief description of their business, growth expectations (top line and bottom line) and valuation:

Chesapeake Energy Corporation

Wellington bought 26,089,575 shares of Chesapeake Energy Corporation last quarter and now holds a total of 35,203,337 shares. This position is 0.42% of its portfolio. The share price of the company has increased from $25.91 on December 31, 2010, to $33.52 on March 31, 2011.

Chesapeake Energy Corporation is a producer of natural gas in the United States. The Company is focused on discovering, acquiring and developing conventional and unconventional natural gas reserves onshore in the United States. Chesapeake’s EPS forecast for the current year is $2.94 and for next year is $3.17. According to consensus estimates, its top line is expected to grow 11.90% in the current year and 24.80% next year. It is trading at a forward P/E of 9.36. Out of 35 analysts covering the company, 18 are positive and have buy ratings, 13 have hold ratings and four have sell ratings.

Petroleo Brasileiro SA

Wellington bought 20,802,416 shares of Petroleo Brasileiro SA last quarter and now holds a total of 45,078,900 shares. This position is 0.65% of its portfolio. The share price of the company has increased from $37.84 on December 31, 2010, to $40.43 on March 31, 2011.

Petroleo Brasileiro SA is an integrated oil and gas company. The Company operates in five segments: exploration and production; refining, transportation and marketing; distribution; gas and power, and international. Petroleo’s EPS forecast for the current year is $3.62 and next year is $3.80. It is trading at a forward P/E of 8.67. Out of 18 analysts covering the company, 10 are positive and have buy ratings and eight have hold ratings.

JPMorgan Chase

Wellington bought 12,738,638 shares of JPMorgan Chase & Co last quarter and now holds a total of 89,651,480 shares. This position is 1.47% of its portfolio. The share price of the company has increased from $42.42 on December 31, 2010, to $46.10 on March 31, 2011.

JPMorgan Chase & Co, a financial holding company, provides various financial services worldwide. JPMorgan’s EPS forecast for the current year is $4.92 and next year is $5.64. According to consensus estimates, its top line is expected to decline 3.90% in the current year and grow 4.60% next year. It is trading at a forward P/E of 7.19. Out of 31 analysts covering the company, 28 are positive and have buy ratings and three have hold ratings.

NVIDIA Corporation

Wellington bought 31,662,866 shares of NVIDIA Corporation last quarter. This is a new position for the fund and is 0.21% of its portfolio. The share price of the company has increased from $15.40 on December 31, 2010, to $18.46 on March 31, 2011.

NVIDIA Corporation provides visual computing, high performance computing, and mobile computing solutions that generate interactive graphics on various devices ranging from tablets and smart phones to notebooks and workstations. It operates in three segments: Graphic Processing Unit (GPU), Professional Solutions Business (NYSE:PSB), and Consumer Products Business (NYSE:CPB). NVIDIA’s EPS forecast for the current year is $1.05 and next year is $1.25. According to consensus estimates, its top line is expected to grow 16.00%in the current year and 8.90% next year. It is trading at a forward P/E of 14.45. Out of 31 analysts covering the company, ten are positive and have buy ratings, 20 have hold ratings and one has a sell rating.

BP Plc

Wellington bought 13,016,655 shares of BP Plc last quarter and now holds a total of 36,656,505 shares. This position is 0.58% of its portfolio. The share price of the company has decreased from $44.17 on December 31, 2010, to $44.14 on March 31, 2011. BP Plc is an international oil and gas company. It operates in more than 80 countries, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products. BP’s EPS forecast for the current year is $6.74 and next year is $6.91. According to consensus estimates, its top line is expected to grow 22.10% in the current year and 7.00% next year. It is trading at a forward P/E of 6.35. Out of 12 analysts covering the company, nine are positive and have buy ratings and three have hold ratings.

Agilent Technologies Inc

Wellington bought 11,869,779 shares of Agilent Technologies Inc last quarter and now holds a total of 15,684,560 shares. This position is 0.25% of its portfolio. The share price of the company has increased from $41.43 on December 31, 2010, to $44.78 on March 31, 2011.

Agilent Technologies Inc provides bio-analytical and electronic measurement solutions to the communications, electronics, life sciences, and chemical analysis industries in the United States and internationally. Agilent’s EPS forecast for the current year is $2.88 and next year is $3.28. According to consensus estimates, its top line is expected to grow 21.20% in the current year and 8.30% next year. It is trading at a forward P/E of 14.35. Out of 12 analysts covering the company, 11 are positive and have buy ratings and one has a hold rating.

Imperial Oil Ltd

Wellington bought 9,054,818 shares of Imperial Oil Ltd last quarter and now holds a total of 13,208,965 shares. This position is 0.24 % of its portfolio. The share price of the company has increased from $40.52 on December 31, 2010, to $51.07 on March 31, 2011.

Imperial Oil Ltd engages in the exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. Imperial’s EPS forecast for the current year is $3.30 and next year is $3.35. According to consensus estimates, its top line is expected to grow 20.00% in the current year and 7.30% next year. It is trading at a forward P/E of 13.87. Out of four analysts covering the stock, three have buy ratings and one has a sell rating.

Canadian Natural Resources Limited

Wellington bought 8,833,980 shares of Canadian Natural Resources Limited last quarter and now holds a total of 27,798,564 shares. This position is 0.49% of its portfolio. The share price of the company has increased from $44.42 on December 31, 2010, to $49.43 on March 31, 2011.

Canadian Natural Resources Limited engages in the exploration, development, production, marketing, and sale of crude oil, natural gas liquids, and natural gas. The company operates in North America, the United Kingdom portion of the North Sea and Cote d Ivoire and Gabon in offshore West Africa. Canadian Natural’s EPS forecast for the current year is $2.29 and next year is $3.75. According to consensus estimates, its top line is expected to decline 0.50% in the current year and grow 26.20% next year. It is trading at a forward P/E of 10.79. Out of 11 analysts covering the company, eight are positive and have buy ratings and three have hold ratings.

Citrix Systems Inc

Wellington bought 5,026,109 shares of Citrix Systems Inc last quarter and now holds a total of 11,425,649 shares. This position is 0.30% of its portfolio. The share price of the company has increased from $68.41 on December 31, 2010, to $73.46 on March 31, 2011.

Citrix Systems Inc designs, develops, and markets technology solutions that deliver information technology services on-demand worldwide. It offers desktop solutions, including Citrix XenDesktop, an integrated desktop virtualization system; Citrix XenApp, an application virtualization solution; and Citrix XenClient, a bare-metal hypervisor, which runs directly on the client device hardware. Citrix’s EPS forecast for the current year is $2.42 and next year is $2.75. According to consensus estimates, its top line is expected to grow 15.50% in the current year and 13.20% next year. It is trading at a forward P/E of 29.87. Out of 32 analysts covering the company, 13 are positive and have buy ratings, 18 have hold ratings and one has a sell rating.

Avago Technologies Limited

Wellington bought 11,146,919 shares of Avago Technologies Limited last quarter and now holds a total of 11,487,419 shares. This position is 0.13% of its portfolio. The share price of the company has increased from $28.41 on December 31, 2010, to $31.10 on March 31, 2011.

Avago Technologies Limited designs, develops and supplies analog semiconductor devices and optoelectronic components. Its target markets include wireless communications, wired infrastructure, industrial and automotive electronics, and consumer and computing peripherals. Avago’s EPS forecast for the current year is $2.53 and next year is $2.71. According to consensus estimates, its top line is expected to grow 11.10% in the current year and 10.20% next year. It is trading at a forward P/E of 12.30. Out of 16 analysts covering the company, ten are positive and have buy ratings and six have hold ratings.

Prudential Financial Inc

Wellington bought 5,389,019 shares of Prudential Financial Inc last quarter and now holds a total of 8,083,662 shares. This position is 0.18% of its portfolio. The share price of the company has increased from $58.71 on December 31, 2010, to $61.58 on March 31, 2011.

Prudential Financial Inc is a financial services company. It has operations in the United States, Asia, Europe and Latin America. Through its subsidiaries, it offers an array of financial products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management and real estate services. Prudential’s EPS forecast for the current year is $6.65 and next year is $7.69. According to consensus estimates, its top line is expected to grow 21.80% in the current year and 7.10% next year. It is trading at a forward P/E of 7.74. Out of 22 analysts covering the company, 19 are positive and have buy ratings and three have hold ratings.

Teva Pharmaceutical Industries Limited

Wellington bought 6,553,800 shares of Teva Pharmaceutical Industries Limited last quarter and now holds a total of 37,505,634 shares. This position is 0.67% of its portfolio. The share price of the company has decreased from $52.13 on December 31, 2010, to $50.17 on March 31, 2011.

Teva Pharmaceutical Industries Limited is a global pharmaceutical and drug company. It develops, produces and markets generic drugs in all treatment categories. Teva’s EPS forecast for the current year is $5.10 and next year is $5.63. According to consensus estimates, its top line is expected to grow 15.30% in the current year and 10.20% next year. It is trading at a forward P/E of 8.87. Out of 27 analysts covering the company, 26 are positive and have buy ratings and one has a hold rating.

Walt Disney Company

Wellington bought 7,414,107 shares of Walt Disney Company last quarter shares of Walt Disney Company last quarter and now holds a total of 12,115,502 shares. This position is 0.19% of its portfolio. The share price of the company has increased from $37.51 on December 31, 2010, to $43.09 on March 31, 2011.

The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company. The Company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive Media. Walt Disney’s EPS forecast for the current year is $2.56 and next year is $3.01. According to consensus estimates, its top line is expected to grow 8.00% in the current year and 6.50% next year. It is trading at a forward P/E of 13.09. Out of 28 analysts covering the company, 17 are positive and have buy ratings and 11 have hold ratings.

Alpha Natural Resources Inc

Wellington bought 5,369,946 shares of Alpha Natural Resources Inc last quarter. This is a new position for the fund and is 0.11% of its portfolio. The share price of the company has decreased from $60.03 on December 31, 2010, to $59.37 on March 31, 2011.

Alpha Natural Resources Inc explores and mines for coal. It supplies and exports metallurgical coal used in the steel-making process. Alpha Natural Resources operates through two business segments: Eastern Coal Operations and Western Coal Operations. Alpha’s EPS forecast for the current year is $4.95 and next year is $6.34. According to consensus estimates, its top line is expected to grow 23.70%in the current year and 6.50% next year. It is trading at a forward P/E of 7.64. Out of 20 analysts covering the company, 14 are positive and have buy ratings, five have hold ratings and one has a sell rating.

Cardinal Health Inc

Wellington bought 7,400,424 shares of Cardinal Health Inc last quarter and now holds a total of 35,449,726 shares. This position is 0.52% of its portfolio. The share price of the company has increased from $38.31 on December 31, 2010, to $41.13 on March 31, 2011.

Cardinal Health, Inc. is a global healthcare solutions company providing products and services to hospitals, physician offices and pharmacies. Cardinal’s EPS forecast for the current year is $2.66 and next year is $3.00. According to consensus estimates, its top line is expected to grow 3.60% in the current year and 4.20% next year. It is trading at a forward P/E of 14.70. Out of 21 analysts covering the company, 14 are positive and have buy ratings and seven have hold ratings.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Wellington's Top 15 Buys