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Alan Fournier Exits Athene, Trims Alphabet

Alan Fournier (Trades, Portfolio), leader of Pennant Capital, sold shares of the following stocks in the second quarter.

The guru closed his Athene Holding Ltd. (NYSE:ATH) position. The portfolio was impacted by -6.54%.

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The retirement services company has a market cap of $7.23 billion and an enterprise value of $3.08 billion.


GuruFocus gives the company a profitability and growth rating of 2 out of 10. The return on equity of -20.16% and return on assets of 1.55% are underperforming 57% of companies in the Insurance industry. Its financial strength is rated 4.8 out of 10. The cash-debt ratio of 4.89 is below the industry median of 12.47.

The largest guru shareholder of the company is Andreas Halvorsen (Trades, Portfolio) with 0.83% of outstanding shares, followed by Richard Snow (Trades, Portfolio) with 0.42% and Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.26%.

The investor trimmed his Alphabet Inc. (GOOGL) holding by 41.67%. The portfolio was impacted by -3.82%.

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The company, which operates a popular search engine, has a market cap of $811.30 billion and an enterprise value of $703.40 billion.


GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 19.63% and return on assets of 14.87% are outperforming 69% of companies in the Online Media industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 9.20 is above the industry median of 3.91.

The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 0.30% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.21% and Frank Sands (Trades, Portfolio) with 0.16%.

The Charter Communications Inc. (NASDAQ:CHTR) position was reduced by 24.51%, impacting the portfolio by -3.52%.

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The company, which provides TV, internet and telephone services, has a market cap of $87.88 billion and enterprise value of $169.56 billion

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 3.73% and return on assets of 0.93% are underperforming 87% of companies in the Communication Services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.01 is below the industry median of 0.29.

The largest guru shareholder of the company is Dodge & Cox with 5.31% of outstanding shares, followed by Warren Buffett (Trades, Portfolio) with 2.45% and Bill Nygren (Trades, Portfolio) with 0.54%.

Fournier exited Vistra Energy Corp. (NYSE:VST). The trade had an impact of -3.46% on the portfolio.

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The company has a market cap of $12.06 billion and an enterprise value of $23.01 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 8.98% and return on assets of 2.78% are underperforming 61% of companies in the Utilities - Independent Power Producers industry. Its financial strength is rated 3.7 out of 10. The cash-debt ratio of 0.08 is below the industry median of 0.17.

Howard Marks (Trades, Portfolio) is the company's largest guru shareholder with 5.73% of outstanding shares, followed by David Tepper (Trades, Portfolio) with 0.35% and Simons' firm with 0.33%.

The guru reduced his Blackstone Group Inc. (NYSE:BX) holding by 16.19%. The portfolio was impacted by -1.21%.

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The company has a market cap of $58.85 billion and an enterprise value of $76.27 billion.


GuruFocus gives the company a profitability and growth rating of 1 out of 10. While the return on equity of 18.36% is outperforming the sector, the return on assets of 4.05% is underperforming 61% of companies in the Asset Management industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.13 is below the industry median of 11.47.

The largest guru shareholder of the company is Tom Gayner (Trades, Portfolio) with 0.44% of outstanding shares, followed by Julian Robertson (Trades, Portfolio) with 0.36% and John Rogers (Trades, Portfolio) with 0.28%.

The firm curbed its Energy Transfer LP (NYSE:ET) stake by 11.57%. The portfolio was impacted by -1.0%.

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The company has a market cap of $34.60 billion and an enterprise value of $92.71 billion.


GuruFocus gives the company a profitability and growth rating of 6 out of 10. While the return on equity of 22.84% is outperforming the sector, the return on assets of 3.08% is underperforming 70% of companies in the Oil and Gas - Midstream industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.01 is below the industry median of 0.06.

Tepper is the company's largest guru shareholder with 0.22% of outstanding shares, followed by Simons' firm with 0.14%, Leon Cooperman (Trades, Portfolio) with 0.12% and Pioneer Investments (Trades, Portfolio) with 0.08%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.