U.S. Markets open in 7 hrs 52 mins

Spiros Segalas Sells American Tower, Biogen, Regeneron, Disney

- By Tiziano Frateschi

Spiros Segalas (Trades, Portfolio) manages the Harbor Capital Appreciation Fund. The portfolio is composed of 58 stocks with a total value of $24,593 million. During the first quarter, the guru sold shares in the following stocks:


Segalas' fund closed its American Tower Corp. (AMT) stake with an impact of -1.43% on the portfolio.

American Tower is an owner, operator and developer of wireless and broadcast communications real estate. Its business segments are domestic rental and management, international rental and management and network development services.

GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The return on equity (ROE) of 12.55% and return on assets (ROA) of 3.27% are outperforming 56% of the companies in the Global Telecom Services industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.04 is below the industry median of 0.44.

The largest shareholder of the company among the gurus is Chuck Akre (Trades, Portfolio) with 1.57% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 0.2%, David Carlson (Trades, Portfolio) with 0.16%, Ron Baron (Trades, Portfolio) with 0.1%, Manning & Napier Advisors Inc. with 0.06% and Frank Sands (Trades, Portfolio) with 0.02%.

The guru exited his position in Biogen Inc. (BIIB) with an impact of -1.33% on the portfolio.

Biogen is a biopharmaceutical company engaged in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurological, rare and autoimmune diseases.

GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 33.44% and ROA of 17.36% are outperforming 95% of the companies in the Global Biotechnology industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.75 is below the industry median of 54.02.

PRIMECAP Management (Trades, Portfolio) is the largest shareholder of the company among the gurus with 7.22% of outstanding shares, followed by the Vanguard Health Care Fund (Trades, Portfolio) with 1.78%, Richard Snow (Trades, Portfolio) with 0.31%, Steven Cohen (Trades, Portfolio) with 0.25%, Lee Ainslie (Trades, Portfolio) with 0.12%, Sands with 1.19%, Andreas Halvorsen (Trades, Portfolio) with 0.89%, Simons with 0.33%, Eric Mindich (Trades, Portfolio) with 0.19% and Hotchkis & Wiley with 0.13%.

The guru sold Regeneron Pharmaceuticals Inc. (REGN) with an impact of -1.12% on the portfolio.

Regeneron is a fully integrated biopharmaceutical company. It discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 21.53% and ROA of 13.96% are outperforming 93% of the companies in the Global Biotechnology industry. Financial strength has a rating of 8 out of 10. The cash-debt ratio of 2.17 is below the industry median of 54.02.

The largest shareholder of the company among the gurus is the Vanguard Health Care Fund with 3.12% of outstanding shares, followed by Sands with 2.17%, Manning & Napier Advisors with 0.35%, Simons with 0.24%, the Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio) with 0.06% and Joel Greenblatt (Trades, Portfolio) with 0.01%.

Segalas trimmed his Facebook Inc. (FB) stake by 20.89%. The trade had an impact of -0.99% on the portfolio.

The company operates a social networking website. Its products are Facebook, Instagram, Messenger, WhatsApp and Oculus. These products enable people to connect and share through mobile devices and personal computers.

GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 19.97% and ROA of 18.12% are outperforming 80% of the companies in the Global Internet Content and Information industry. Financial strength has a rating of 9 out of 10 with no debt.

Halvorsen is the largest shareholder of the company among the gurus with 0.66% of outstanding shares, followed by Sands with 0.58%, Segalas with 0.25%, Steve Mandel (Trades, Portfolio) with 0.2%, Ainslie with 0.13% and Manning & Napier Advisors with 0.12%.

The guru reduced his position in Allergan PLC (AGN) by 38.15%, impacting the portfolio by -0.79%.

Allergan is a specialty pharmaceutical company engaged in developing, manufacturing and distributing generic, brand and biosimilar products.

GuruFocus gives the stock a profitability and growth rating of 5 out of 10. The ROE of 18.53% and ROA of 11.06% are underperforming 86% of the companies in the Global Drug Manufacturers - Specialty and Generic industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.40 is above the industry median of 3.09.

The largest shareholder of the company among the gurus is the Vanguard Health Care Fund with 3.77% of outstanding shares, followed by David Tepper (Trades, Portfolio) with 1.27%, John Paulson (Trades, Portfolio) 1.06%, Seth Klarman (Trades, Portfolio) with 1.02%, Paul Singer (Trades, Portfolio) with 0.82%, John Griffin (Trades, Portfolio) with 0.46% and Segalas with 0.45%.

Segalas curbed his Amazon.com Inc. (AMZN) stake by 10.22%. The trade had an impact of -0.62% on the portfolio.

Amazon is an online retailer that sells its products through its website, which also provides advertising services and co-branded credit card agreements. It also offers electronic devices like Kindle e-readers and Fire tablets.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The ROE of 14.50% and ROA of 3.43% are outperforming 56% of the companies in the Global Specialty Retail industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 1.71 is above the industry median of 0.97.

Sands is the largest shareholder of the company among the gurus with 0.48% of outstanding shares, followed by Fisher with 0.42%, Chris Davis (Trades, Portfolio) with 0.4%, Segalas with 0.36%, Halvorsen with 0.34%, Chase Coleman (Trades, Portfolio) with 0.29%, Mandel with 0.27%, Pioneer Investments (Trades, Portfolio) with 0.15% and Ruane Cunniff (Trades, Portfolio) with 0.09%.

The investor slightly reduced his Visa Inc. (NYSE:V) holding by 17.02%, impacting the portfolio by -0.62%.

Visa is a payments technology company that connects consumers, businesses, banks and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. The company operates a processing network - VisaNet.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The ROE of 19.61% and ROA of 10.18% are outperforming 82% of the companies in the Global Credit Services industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.58 is below the industry median of 8.43.

The largest shareholder of the company among the gurus is Sands with 1.37% of outstanding shares, followed by Fisher with 0.64%, Warren Buffett (Trades, Portfolio) with 0.46%, Segalas with 0.39%, Mandel with 0.28% and PRIMECAP Management with 0.25%.

Segalas exited his position in Walt Disney Co. (DIS). The transaction had an impact of -0.52% on the portfolio.

Together with its subsidiaries, Disney is a diversified entertainment company. Not only does the company produce motion pictures, but it operates cable programming services, including ESPN, the Disney Channel and Freeform. It also owns and operates amusement parks and resorts.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The ROE of 20.55% and ROA of 9.88% are outperforming 83% of the companies in the Global Media - Diversified industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.18 is below the industry median of 1.52.

Fisher is the largest shareholder of the company among the gurus with 0.55% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.36%, Simons with 0.3%, Pioneer Investments with 0.2%, Halvorsen with 0.15%, Diamond Hill Capital (Trades, Portfolio) with 0.15%, Tom Gayner (Trades, Portfolio) with 0.1% and Mairs and Power (Trades, Portfolio) with 0.1%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

Start a free 7-day trial of Premium Membership to GuruFocus.

This article first appeared on GuruFocus.