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Sarah Ketterer Trims Manulife, Sells Qualcomm

- By Tiziano Frateschi

Causeway Capital Management leader Sarah Ketterer (Trades, Portfolio) sold shares of the following stocks during the first quarter.


The Manulife Financial Corp. (MFC) stake was trimmed by 26.38%. The trade had an impact of -2.89% on the portfolio.

The Canadian life insurer has a market cap of $34.05 billion and an enterprise value of $35.29 billion.


GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 12.03% and return on assets of 0.73% are outperforming 85% of companies in the Insurance - Life industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 1.25 is below the industry median of 7.42.

The largest guru shareholder of the company is Ketterer with 2.42% of outstanding shares, followed by Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.21% and Pioneer Investments (Trades, Portfolio) with 0.09%.

Ketterer closed her Qualcomm Inc . (QCOM) position. The portfolio was impacted by -2.13%.

The company, which develops and licenses wireless technology, has a market cap of $80.72 billion and an enterprise value of $86.80 billion.


GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 22.22% and return on assets of 5.41% are underperforming 86% of companies in the Semiconductors industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.63 is below the industry median of 1.69.

The company's largest guru shareholder is PRIMECAP Management (Trades, Portfolio) with 2.03% of outstanding shares, followed by the Barrow, Hanley, Mewhinney & Strauss with 1.64% and the T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.52%.

The guru curbed her Canadian Pacific Railway Ltd. (CP) holding by 99.98% , impacting the portfolio by -1.71%.

The railroad has a market cap of $30.94 billion and an enterprise value of $37.47 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 30.33% and return on assets of 9.67% are outperforming 95% of companies in the Railroad industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.04 is below the industry median of 0.30.

Steve Mandel (Trades, Portfolio) is the largest guru shareholder of the company with 2.30% of outstanding shares, followed by Simons' firm with 0.19%, Pioneer Investments with 0.11% and Jeremy Grantham (Trades, Portfolio) with 0.08%.

The Advance Auto Parts Inc. (AAP) position was closed. The portfolio was impacted by -1.62%.

The company, which retails aftermarket automotive parts, tools and accessories, has a market cap of $11.43 billion and an enterprise value of $11.64 billion.


GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 11.96% and return on assets of 4.62% are outperforming 69% of companies in the Specialty Retail industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.72 is below the industry median of 0.99.


The company's largest guru shareholder is Barrow, Hanley, Mewhinney & Strauss with 5.22% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 1.51% and Simons' firm with 0.80%.

The investor trimmed 54.11% off her Bank of America Corp. (BAC) stake. The trade had an impact of -1.41% on the portfolio.

The bank has a market cap of $264.80 billion and an enterprise value of $353.96 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity of 10.22% and return on assets of 1.22% are outperforming 53% of companies in the Banks - Global industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.73 is below the industry median of 1.43.

Warren Buffett (Trades, Portfolio) is the largest guru shareholder of the company with 9.43% of outstanding shares, followed by Dodge & Cox with 1.21% and PRIMECAP Management with 0.38%.

The Citigroup Inc. (NYSE:C) stake was reduced by 29.01%, impacting the portfolio by -1.03%.

The bank has a market cap of $149.80 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity of 8.45% and return on assets of 0.94% are outperforming 59% of companies in the Banks - Global industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.73 is below the industry median of 1.43.


The company's largest guru shareholder is Jeff Ubben (Trades, Portfolio)'s ValueAct Holdings with 1.36% of outstanding shares, followed by Hotchkis & Wiley with 0.54%, Diamond Hill Capital (Trades, Portfolio) with 0.44% and Bill Nygren (Trades, Portfolio) with 0.41%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.