Standard Pacific Capital’s Top Five Picks Include E-House (China) Holdings Limited (ADR) (EJ), General Motors Company (GM) & Others
In the current round of 13F filings, hedge funds and other institutional investors are disclosing their equity portfolios as held at the end of the last year. One of those is Standard Pacific Capital, managed by Douglas Dillard Jr. and Raj D. Venkatesan.
In its latest 13F filed with the Securities and Exchange Commission, Standard Pacific Capital revealed an equity portfolio with a total value of about $574.54 million, up from $483.89 million reported in the third quarter of 2013.
In this piece, we are going to discuss the five largest holdings from the Gamco Investors’ equity portfolio, in terms of value, as at the end of last year.
E-House (China) Holdings Limited (ADR) (NYSE:EJ) is the first largest holding in which the fund owned almost 2.0 million shares. The value of the stake amounts to around $30.13 million. The company offers real estate services, including primary sales agency services, online real estate services, and real estate information and consulting services.
General Motors Company (NYSE:GM) is next on the list. The fund disclosed ownership of 726,725 shares, with a reported value of about $29.70 million. General Motors Company (NYSE:GM) reported full-year 2013 net income attributable to common stockholders of $3.8 billion, or $2.38 per share, down from $4.9 billion, or $2.92 per share, in 2012.
Vulcan Materials Company (NYSE:VMC) is the third largest holding, which amasses 492,823 shares, with a reported value of about $29.28 million. Vulcan Materials Company (NYSE:VMC), a producer of construction aggregates, announced in January a tender offer for up to $500 million combined aggregate principal amount of its 6.50% senior notes due 2016, 6.40% senior notes due 2017 and 7.00% senior notes due 2018.
The tender offer will expire at 5:00 p.m., New York City time, on February 28, 2014, unless extended or earlier terminated.
Assured Guaranty Ltd. (NYSE:AGO) is the fourth largest holding in which the fund disclosed a stake of around $26.14 million. The fund owned 1.11 million shares of the company. Assured Guaranty Ltd. (NYSE:AGO) raised its quarterly dividend by 10%, from $0.10 per common share to $0.11 per common. The dividend will be paid on March 5, 2014 to shareholders of record at the close of business on February 19, 2014.
Standard Pacific Capital disclosed ownership of 874,580 shares of USG Corporation (NYSE:USG). The value of the stake amounts to around $24.82 million. USG Corporation (NYSE:USG) reported fourth-quarter 2013 net sales of $915 million, up 12% from fourth-quarter 2012 net sales of $815 million.
The company’s operating profit was $60 million compared to an $8 million operating loss in the fourth quarter of 2012.