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Wellington Management Company is an investment advisory and hedge fund firm managing over $300 billion in equity assets. The firm manages the 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.

I have previously discussed the top stocks where Wellington is decreasing its position. In addition, it is also interesting to have a look at the top stocks where Wellington completely exited its holdings. The following is a list of the top 7 stocks where Wellington sold all its holdings in the last quarter.

Stock

Symbol

Shares Held 03/31/2011

Shares Held 06/30/2011

Change in Shares

Big Lots, Inc.

(NYSE:BIG)

3,268,164

0

-3,268,164

Cavium, Inc.

(NASDAQ:CAVM)

5,846,513

0

-5,846,513

Southwest Airlines Co.

(NYSE:LUV)

4,760,694

0

-4,760,694

TD Ameritrade Holding Corporation

(NYSE:AMTD)

16,622,090

0

-16,622,090

IntercontinentalExchange, Inc.

(NYSE:ICE)

6,884,502

0

-6,884,502

MICROS Systems, Inc.

(NASDAQ:MCRS)

929,564

0

-929,564

Lincoln National Corporation

(NYSE:LNC)

1,671,047

0

-1,671,047

Source: 13F filing

My favorite sell among above list is Cavium, Inc. It is a provider of integrated semiconductor processors, which enable processing for networking, communications, storage, wireless, security, video and connected home and office applications. Its products are used in a lot of networking equipment, including routers, switches, content-aware switches, unified threat management and other security appliances, application-aware gateways, and voice/video/data, or triple-play, gateways. Additionally, they are used in wireless local area networks, third generation/fourth generation WiMax/LTE access, aggregation and gateway devices, storage networking equipment, servers and intelligent network interface cards and Internet protocol surveillance systems. Cavium's EPS forecast for the current year is $1.32 and next year is $1.54. According to consensus estimates, its top line is expected to grow 38.30% in the current year and 23.40% next year.

Recently, communications pure-play Altera (NASDAQ:ALTR) lowered its Q3 sales guidance, citing weaker demand in several vertical markets including Telecom and Wireless (particularly outside of Asia), and Industrial Automation/ Military/Test due to macro uncertainty. It is unlikely that Cavium will be immune to the current macro conditions seen by Altera, and thus there is a good likelihood of downward revisions in consensus estimates for Cavium.

For other stocks in the above list, here are some of the specifics, including a brief description of their businesses and growth expectations (top line and bottom line):

Big Lots, Inc. is a closeout retailer. The company’s merchandising categories include Consumables, Furniture, Home, Hardlines, Seasonal, and Other. Big Lots' EPS forecast for the current year is $2.87 and next year is $3.32. According to consensus estimates, its top line is expected to grow 3.30% in the current year and 6.10% next year.

Southwest Airlines Co. is a passenger airline that provides scheduled air transportation in the United States. Southwest's EPS forecast for the current year is $0.33 and next year is $0.75. According to consensus estimates, its top line is expected to grow 30.20% in the current year and 10.10% next year.

TD Ameritrade Holding Corporation is a provider of securities brokerage services and technology-based financial services to retail investors, traders and independent registered investment advisors. The company provides services through the Internet, a national branch network and relationships with RIAs. TD Ameritrade's EPS forecast for the current year is $1.10 and next year is $1.25. According to consensus estimates, its top line is expected to grow 6.90% in the current year and 6.70% next year.

IntercontinentalExchange, Inc. is an operator of global futures exchange and over-the-counter markets and derivatives clearing houses. ICE operates futures and OTC marketplaces for trading an array of energy and agricultural commodities, credit default swaps, equity index and foreign exchange contracts. The company operates in three segments: futures segment, global OTC segment and market data segment. IntercontinentalExchange's EPS forecast for the current year is $6.69 and next year is $7.51. According to consensus estimates, its top line is expected to grow 12.80% in the current year and 9.40% next year.

MICROS Systems, Inc. is a designer, manufacturer, marketer, and servicer of enterprise information solutions for the global hospitality and retail industries. The company operates in two segments: the United States and International. The company’s enterprise information solutions comprise three areas: hotel information systems; restaurant information systems, and retail information systems. In addition to its software enterprise solutions and hardware products, MICROS offers a range of services and other products for its hotel, restaurant and retail information systems. MICROS' EPS forecast for the current year is $2.11 and next year is $2.41. According to consensus estimates, its top line is expected to grow 10.00% in the current year and 10.00% next year.

Lincoln National Corporation is a holding company that operates multiple insurance and retirement businesses through subsidiary companies. Through the company’s business segments, it sells a range of wealth protection, accumulation and retirement income products and solutions. Lincoln National's EPS forecast for the current year is $4.09 and next year is $4.17. According to consensus estimates, its top line is expected to grow 7.00% in the current year and 4.50% next year.

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

Source: 7 Stocks Wellington Completely Exited Last Quarter