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Delphi Management Cuts Apple, STORE Capital

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- By Tiziano Frateschi

Scott Black (Trades, Portfolio)'s Delphi Management, Inc. sold shares of the following stocks during the first quarter of 2021, which ended on March 31.


Apple

The guru curbed the position in Apple Inc. (AAPL) by 57.47%, impacting the portfolio by -1.52%.

Delphi Management Cuts Apple, STORE Capital
Delphi Management Cuts Apple, STORE Capital

The company, which designs a wide variety of consumer electronic devices, has a market cap of $2.12 trillion and an enterprise value of $2.17 trillion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 108.57% and return on assets of 23.08% are outperforming 99% of companies in the hardware industry. Its financial strength is rated 6 out of 10 with a cash-debt ratio of 0.57.


The largest guru shareholder of the company is Warren Buffett (Trades, Portfolio)'s Berkshire Hathaway with 5.32% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.37% and Pioneer Investments (Trades, Portfolio) with 0.18%.

STORE Capital Corp

The guru's STORE Capital Corp. (STOR) position was closed, impacting the portfolio by -1.50%.

Delphi Management Cuts Apple, STORE Capital
Delphi Management Cuts Apple, STORE Capital

The real estate investment trust has a market cap of $9.22 billion and an enterprise value of $12.81 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 4.19% and return on assets of 2.28% are outperforming 52% of companies in the REITs industry. Its financial strength is rated 4 out of 10 with a cash-debt ratio of 0.04.

The most notable guru shareholder of the company is Buffett with 9.03% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.06% and Mario Gabelli (Trades, Portfolio) with 0.01%.

Sanmina

The firm closed its position in Sanmina Corp. (SANM). The trade had an impact of -1.44% on the portfolio.

Delphi Management Cuts Apple, STORE Capital
Delphi Management Cuts Apple, STORE Capital

The company, which provides integrated manufacturing solutions, components and after-market services, has a market cap of $2.77 billion and an enterprise value of $2.54 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 11.52% and return on assets of 4.75% are outperforming 62% of companies in the hardware industry. Its financial strength is rated 7 out of 10 with a cash-debt ratio of 1.7.

The most notable guru shareholders of the company include Diamond Hill Capital (Trades, Portfolio) with 1.77% of outstanding shares, Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.91% and Chuck Royce (Trades, Portfolio) with 0.80%.

Ares Commercial Real Estate

The guru exited the position in Ares Commercial Real Estate Corp. (ACRE), impacting the portfolio by -1.42%.

Delphi Management Cuts Apple, STORE Capital
Delphi Management Cuts Apple, STORE Capital

The company, which provides commercial real estate loans and related investments, has a market cap of $618.45 million and an enterprise value of $1.99 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 11.19% and return on assets of 2.72% are outperforming 59% of companies in the REITs industry. Its financial strength is rated 2 out of 10 with a cash-debt ratio of 0.07.

The largest guru shareholders of the company include Simons' firm with 0.46% of outstanding shares and Paul Tudor Jones (Trades, Portfolio) with 0.13%.

US Bancorp

The firm closed its position in U.S. Bancorp. (USB), impacting the portfolio by -1.42%.

Delphi Management Cuts Apple, STORE Capital
Delphi Management Cuts Apple, STORE Capital

The company, which provides diversified financial services, has a market cap of $90.01 billion and an enterprise value of $102.62 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 10.95% and return on assets of 1.11% are outperforming 57% of companies in the banks industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.88 is below the industry median of 1.99.

The largest guru shareholders of the company include Buffett with 8.71% of outstanding shares, Chris Davis (Trades, Portfolio) with 1.22% and Barrow, Hanley, Mewhinney & Strauss with 0.93%.

Blackstone Mortgage Trust

The guru closed the position in Blackstone Mortgage Trust Inc. (BXMT), impacting the portfolio by -1.41%.

Delphi Management Cuts Apple, STORE Capital
Delphi Management Cuts Apple, STORE Capital

The real estate finance company has a market cap of $4.68 billion and an enterprise value of $17.28 billion.

GuruFocus gives the company a profitability rating of 4 out of 10. The return on equity of 7.06% is outperforming 72% of companies in the REITs industry. Its financial strength is rated 2 out of 10. The cash-debt ratio of 0.02 is below the industry median of 0.07.

The largest guru shareholder of the company is Simons' firm with 0.20% of outstanding shares, followed by Jones with 0.04% and Murray Stahl (Trades, Portfolio) with 0.01%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.