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David Winter is the managing member of Wintergreen Advisers and primarily responsible for asset allocation. Wintergreen Advisers has $551 million assets under management. Within the second quarter of the year, Winter increased four stock positions. MasterCard (NYSE:MA) and Google (NASDAQ:GOOG) are his buys with biggest change to the portfolio. He sold 2 companies and reduced 6 stock positions of which Barrick Gold (NYSE:ABX) was the position with the largest influence on the portfolio. Here are Wintergreen's biggest portfolio weighted buys and sells:

Buys:

  • MasterCard (MA) was increased by 348.30 percent. Total change to portfolio: 6.16 percent.
  • Google (GOOG) was increased by 393.33 percent. Total change to portfolio: 2.69 percent.
  • Canadian Natural Resources (NYSE:CNQ) was increased by 3.11 percent. Total change to portfolio: 0.51 percent.

Sells:

  • Barrick Gold (ABX) was totally sold. Total change to portfolio: 10.64 percent.
  • Potash (NYSE:POT) was totally sold. Total change to portfolio: 0.60 percent.
  • Goldman Sachs (NYSE:GS) was reduced by 10.07 percent. Total change to portfolio: 0.34 percent.


David Tepper’s biggest sector allocation is focused on Financials (34.26 percent), Consumer Staples (20.51 percent) and Materials (16.94 percent).

Here are David Winter’s biggest portfolio holdings as of Q2/2011, along with their fundamentals:

1. Canadian Natural Resources (CNQ) operates within the independent oil and gas industry. The company has a market capitalization of USD 40.4 billion, generates revenues in an amount of USD 12.8 billion and a net income of USD 1.0 billion. It follows P/E ratio is 40.1 and forward price to earnings ratio 10.2, Price/Sales 3.2 and Price/Book ratio 1.9. Dividend Yield: 1.0 percent. Years of Consecutive Dividend Increases: 14 Years. 5-Year Dividend Growth: 7.2 percent. The company paid dividends since 1992. Portfolio weighting: 16.94 percent.

2. Franklin Resources (NYSE:BEN) operates within the asset management industry. The company has a market capitalization of USD 25.5 billion, generates revenues in an amount of USD 6.8 billion and a net income of USD 1.9 billion. It follows P/E ratio is 13.8 and forward price to earnings ratio 11.8, Price/Sales 3.7 and Price/Book ratio 2.9. Dividend Yield: 0.9 percent. Years of Consecutive Dividend Increases: 0 Years. 5-Year Dividend Growth: 71.5 percent. The company paid dividends since 1981. Portfolio weighting: 11.87 percent.

3. Berkshire Hathaway (NYSE:BRK.B) is acting within property and casualty insurance industry. The company has a market capitalization of USD 179.2 billion, generates revenues in an amount of USD 144.4 billion and a net income of USD 12.3 billion. It follows P/E ratio is 14.6 and forward price to earnings ratio 14.3, Price/Sales 1.2 and Price/Book ratio 1.1. Dividend Yield: 0 percent. Years of Consecutive Dividend Increases: 0 Years. 5-Year Dividend Growth: 0 percent. The company never paid dividends. Portfolio weighting: 11.34 percent.

Take a closer look at David Winter’s full portfolio. He recently owned 58 stocks with a portfolio worth of USD 553,631,000.

Source: David Winter's Top Q2 Fund Holdings