Davis Funds just reported their first quarter portfolio. The firm is led by Chris Davis. During a recent interview, Chris Davis said that he believes that the next 10 years should be better than the last 10 years. He argues that at the start of the year 2000, the price of the stock market as measured by the S&P 500® Index was almost $1,500 per share. This $1,500 price gave investors ownership interests in companies that produced about $50 of earnings per share and about $38 of free cash flow per share as well as paying about $17 in dividends per share. Therefore, a buyer was accepting an earnings yield of 3%, a free cash flow yield of 3% and a dividend yield of 1%.
Today, the earnings of the companies that make up this Index are about $76 per share, more than 50% higher than in January 2000. The free cash flow of these companies is now about $100 per share, almost three times higher, and dividends should be around $25 per share, approximately 50% higher. Because these companies are producing more earnings, cash flow and dividends, it seems obvious the value of their stocks is much higher today than in 2000.
As of 03/31/2011, Davis Selected Advisers owns 168 stocks with a total value of $59.3 billion. These are the details of the buys and sells.
This is the portfolio chart of Chris Davis. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Chris Davis
ACE LTD. provides excess liability insurance for bodily injury, property damage, & wrongful advertising. Ace Ltd. has a market cap of $22.79 billion; its shares were traded at around $67.91 with a P/E ratio of 9.9 and P/S ratio of 1.5. The dividend yield of Ace Ltd. stocks is 2%. Ace Ltd. had an annual average earnings growth of 38.8% over the past 10 years. GuruFocus rated Ace Ltd. the business predictability rank of 2-star.
Kraft Foods, Inc. is the largest branded food and beverage company headquartered in the U. Kraft Foods Inc. has a market cap of $59.91 billion; its shares were traded at around $34.27 with a P/E ratio of 16.7 and P/S ratio of 1.2. The dividend yield of Kraft Foods Inc. stocks is 3.4%. Kraft Foods Inc. had an annual average earnings growth of 2.3% over the past 5 years.
Air Products and Chemicals, Inc. has established an internationally recognized industrial gas and related industrial process equipment business, and developed strong positions as a producer of certain chemicals. Air Products & Chemicals has a market cap of $19.98 billion; its shares were traded at around $92.98 with a P/E ratio of 17.3 and P/S ratio of 2.2. The dividend yield of Air Products & Chemicals stocks is 2.5%. Air Products & Chemicals had an annual average earnings growth of 9.3% over the past 10 years. GuruFocus rated Air Products & Chemicals the business predictability rank of 3-star.
Bank of New York is a bank holding company and one of the world's larger financial institutions. Bank Of New York Mellon Corp. has a market cap of $35.2 billion; its shares were traded at around $28.34 with a P/E ratio of 12.4 and P/S ratio of 2.6. The dividend yield of Bank Of New York Mellon Corp. stocks is 1.8%.
Iron Mountain Incorporated is one of the world's largest records and information management services company. Iron Mountain has a market cap of $6.53 billion; its shares were traded at around $32.64 with a P/E ratio of 27.4 and P/S ratio of 2.1. The dividend yield of Iron Mountain stocks is 2.3%. Iron Mountain had an annual average earnings growth of 12.2% over the past 10 years. GuruFocus rated Iron Mountain the business predictability rank of 4-star.
Everest Re Group, Ltd. is a world leader in property and casualty reinsurance and insurance, offering innovative products, responsive service and unsurpassed financial strength. Everest Re Group Ltd. has a market cap of $4.87 billion; its shares were traded at around $89.76 with a P/E ratio of 19.5 and P/S ratio of 1. The dividend yield of Everest Re Group Ltd. stocks is 2.1%.
American Movil is the provider of wireless communications services in Mexico. America Movil S.a.b De C.v has a market cap of $105.49 billion; its shares were traded at around $52.35 with a P/E ratio of 14.4 and P/S ratio of 2.2. The dividend yield of America Movil S.a.b De C.v stocks is 1%. America Movil S.a.b De C.v had an annual average earnings growth of 31.9% over the past 10 years. GuruFocus rated America Movil S.a.b De C.v the business predictability rank of 4-star.
Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Merck & Co. Inc. has a market cap of $112.93 billion; its shares were traded at around $36.63 with a P/E ratio of 10.5 and P/S ratio of 2.4. The dividend yield of Merck & Co. Inc. stocks is 4.2%.
Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust which, through its subsidiary partnerships, is engaged in the ownership, development, management, leasing, acquisition and expansion of income-producing properties, primarily regional malls and community shopping centers. Simon Property Group Inc. has a market cap of $34.66 billion; its shares were traded at around $116.7 with a P/E ratio of 20.1 and P/S ratio of 8.7. The dividend yield of Simon Property Group Inc. stocks is 2.8%. Simon Property Group Inc. had an annual average earnings growth of 3.2% over the past 10 years.
EastGroup Properties is a self-administered real estate investment trust focused on ownership, acquisition and selective development of industrial properties. Eastgroup Properties Inc. has a market cap of $1.24 billion; its shares were traded at around $45.8 with a P/E ratio of 16.2 and P/S ratio of 7.1. The dividend yield of Eastgroup Properties Inc. stocks is 4.5%. Eastgroup Properties Inc. had an annual average earnings growth of 0.3% over the past 10 years.
American Tower Corporation is a wireless communications and broadcast infrastructure company with three operating segments. American Tower Corp. has a market cap of $21.34 billion; its shares were traded at around $53.52 with a P/E ratio of 58.2 and P/S ratio of 10.8. American Tower Corp. had an annual average earnings growth of 9.1% over the past 10 years.
Plum Creek Timber is the second largest private timberland owner in the United States, with approximately 7. Plum Creek Timber Company Inc. has a market cap of $6.74 billion; its shares were traded at around $41.67 with a P/E ratio of 38.2 and P/S ratio of 5.6. The dividend yield of Plum Creek Timber Company Inc. stocks is 4.1%. Plum Creek Timber Company Inc. had an annual average earnings growth of 2.1% over the past 10 years.
Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. Toronto-dominion Bank has a market cap of $75.57 billion; its shares were traded at around $85.56 with a P/E ratio of 14.6 and P/S ratio of 3. The dividend yield of Toronto-dominion Bank stocks is 3.1%. Toronto-dominion Bank had an annual average earnings growth of 9.1% over the past 10 years.
Expedia, Inc. is one of the world's travel services companies. Expedia Inc. has a market cap of $6.86 billion; its shares were traded at around $25.08 with a P/E ratio of 16.3 and P/S ratio of 2.1. The dividend yield of Expedia Inc. stocks is 1.1%. Expedia Inc. had an annual average earnings growth of 9% over the past 5 years.
Walt Disney Company owns 100% of Disney Enterprises, Inc. Walt Disney Company has a market cap of $78.85 billion; its shares were traded at around $41.52 with a P/E ratio of 18.2 and P/S ratio of 2.1. The dividend yield of Walt Disney Company stocks is 1%. Walt Disney Company had an annual average earnings growth of 12.5% over the past 10 years. GuruFocus rated Walt Disney Company the business predictability rank of 3.5-star.
Brandywine Realty Trust is a self-administered, self-managed and fully integrated Real Estate Investment Trust active in acquiring, developing, redeveloping, leasing and managing suburban office and industrial properties. Brandywine Realty Trust has a market cap of $1.66 billion; its shares were traded at around $12.31 with a P/E ratio of 9.3 and P/S ratio of 3. The dividend yield of Brandywine Realty Trust stocks is 4.9%.
Nielsen Holdings B.V. is an information and measurement company providing clients with media and marketing information and analytics about what consumers watch (consumer interaction with television, online and mobile) and what consumers buy on a global and local basis. Nielsen Holdings N.v. has a market cap of $10.82 billion; its shares were traded at around $30.19 with and P/S ratio of 2.1.
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Public Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. Public Storage Inc. has a market cap of $20.31 billion; its shares were traded at around $119.15 with a P/E ratio of 21.4 and P/S ratio of 12.3. The dividend yield of Public Storage Inc. stocks is 2.6%. Public Storage Inc. had an annual average earnings growth of 5.7% over the past 10 years. GuruFocus rated Public Storage Inc. the business predictability rank of 4.5-star.
Whole Foods Market is the largest purveyor of natural foods in the world. Whole Foods Market Inc. has a market cap of $10.41 billion; its shares were traded at around $59.95 with a P/E ratio of 37.5 and P/S ratio of 1.1. The dividend yield of Whole Foods Market Inc. stocks is 0.7%. Whole Foods Market Inc. had an annual average earnings growth of 7% over the past 10 years. GuruFocus rated Whole Foods Market Inc. the business predictability rank of 2-star.
Equity Residential Prop. is a self-administered and self-managed equity real estate investment trust. Equity Residential has a market cap of $17.44 billion; its shares were traded at around $59.32 with a P/E ratio of 25.7 and P/S ratio of 8.7. The dividend yield of Equity Residential stocks is 2.3%. Equity Residential had an annual average earnings growth of 1.6% over the past 5 years.
Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc. has a market cap of $164.7 billion; its shares were traded at around $20.61 with a P/E ratio of 9.2 and P/S ratio of 2.4. The dividend yield of Pfizer Inc. stocks is 3.9%.
Moody's Corporation is the parent company of Moody's Investors Service, a provider of credit ratings, research and analysis covering debt instruments and securities in the global capital markets, Moody's KMV, a provider of credit risk processing and credit risk management products for banks and investors in credit-sensitive assets serving the world's largest financial institutions, Moody's Economy. Moodys Corp. has a market cap of $8.62 billion; its shares were traded at around $37.82 with a P/E ratio of 16.3 and P/S ratio of 4.2. The dividend yield of Moodys Corp. stocks is 1.2%. Moodys Corp. had an annual average earnings growth of 10.4% over the past 10 years.
The Procter & Gamble Company manufactures and markets a broad range of consumer products in many countries throughout the world. Procter & Gamble Company has a market cap of $184.63 billion; its shares were traded at around $65.92 with a P/E ratio of 17.4 and P/S ratio of 2.3. The dividend yield of Procter & Gamble Company stocks is 3.2%. Procter & Gamble Company had an annual average earnings growth of 12.3% over the past 10 years. GuruFocus rated Procter & Gamble Company the business predictability rank of 3.5-star.
NEWS CORPORATION is a diversified entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers and information services; book publishing; and other. News Corp. has a market cap of $31.96 billion; its shares were traded at around $17.5 with a P/E ratio of 17.5 and P/S ratio of 1. The dividend yield of News Corp. stocks is 0.9%.
CarMax Group is a subsidiary of Circuit City Stores, Inc. Carmax Inc. has a market cap of $7.14 billion; its shares were traded at around $31.62 with a P/E ratio of 19 and P/S ratio of 0.8. Carmax Inc. had an annual average earnings growth of 2.9% over the past 10 years.
Grupo Televisa, S.A, is the largest media company in the Spanish-speaking world, and a major player in the international entertainment business. Grupo Televisa S.a. has a market cap of $13.24 billion; its shares were traded at around $23.39 with a P/E ratio of 21.3 and P/S ratio of 2.8. Grupo Televisa S.a. had an annual average earnings growth of 9.7% over the past 10 years.
Ventas, Inc. is a healthcare real estate investment trust. Ventas Inc. has a market cap of $8.95 billion; its shares were traded at around $54.89 with a P/E ratio of 18.6 and P/S ratio of 8.7. The dividend yield of Ventas Inc. stocks is 4.2%. Ventas Inc. had an annual average earnings growth of 6.5% over the past 10 years.
Highwoods Properties, Inc. is a fully integrated, self-administered real estate investment trust that provides leasing, management, development, construction and other customer-related services for its properties and for third parties. Highwoods Propertiesinc. has a market cap of $2.57 billion; its shares were traded at around $35.82 with a P/E ratio of 14.6 and P/S ratio of 5.5. The dividend yield of Highwoods Propertiesinc. stocks is 4.8%.
ALEXANDER & BALDWIN, INC. through its subsidiaries, is engaged principally in ocean transportation of goods between west coast of U. Alexander & Baldwin Inc has a market cap of $1.96 billion; its shares were traded at around $47.2 with a P/E ratio of 34.1 and P/S ratio of 1.2. The dividend yield of Alexander & Baldwin Inc stocks is 2.6%.
TAUBMAN CENTERS, INC., a real estate investment trust, is the managing general partner of, and owns an interest in, The Taubman Realty Group Limited Partnership (TRG). Taubman Centers Inc. has a market cap of $3.28 billion; its shares were traded at around $58.86 with a P/E ratio of 20.4 and P/S ratio of 5. The dividend yield of Taubman Centers Inc. stocks is 2.9%. Taubman Centers Inc. had an annual average earnings growth of 5.4% over the past 10 years. GuruFocus rated Taubman Centers Inc. the business predictability rank of 3-star.
IDEXX Laboratories, Inc. is a world leader in providing diagnostic, detection, and information products to the animal health industry as well as quality assurance products and services to the food and water industries. Idexx Laboratories Inc. has a market cap of $4.72 billion; its shares were traded at around $82.25 with a P/E ratio of 34.5 and P/S ratio of 4.3. Idexx Laboratories Inc. had an annual average earnings growth of 17.6% over the past 10 years. GuruFocus rated Idexx Laboratories Inc. the business predictability rank of 5-star.
Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, and the smelting and refining of copper concentrates in Spain and Indonesia. Freeportmcmoran C & G has a market cap of $45.69 billion; its shares were traded at around $48.27 with a P/E ratio of 9.3 and P/S ratio of 2.4. The dividend yield of Freeportmcmoran C & G stocks is 2%.
Tyson Foods, Inc. is the world's largest fully-integrated producer, processor and marketer of chicken and poultry-based food products. Tyson Foods Inc. has a market cap of $6.8 billion; its shares were traded at around $18.01 with a P/E ratio of 7.1 and P/S ratio of 0.2. The dividend yield of Tyson Foods Inc. stocks is 0.9%.
Boston Properties is a fully integrated, self-administered and self- managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class-A office, industrial and hotel properties. Boston Properties Inc. has a market cap of $14.91 billion; its shares were traded at around $104.52 with a P/E ratio of 23.5 and P/S ratio of 9.7. The dividend yield of Boston Properties Inc. stocks is 1.9%.
The Hershey Company is a snack food company and the largest North American manufacturer of quality chocolate and non-chocolate confectionery products. The Hershey Company has a market cap of $12.78 billion; its shares were traded at around $56.23 with a P/E ratio of 21.3 and P/S ratio of 2.2. The dividend yield of The Hershey Company stocks is 2.5%. The Hershey Company had an annual average earnings growth of 5.1% over the past 10 years.
Federal Realty Investment Trust is an owner, operator & redeveloper ofretail properties. Federal Realty Inv. Trust has a market cap of $5.35 billion; its shares were traded at around $86.03 with a P/E ratio of 21.9 and P/S ratio of 9.8. The dividend yield of Federal Realty Inv. Trust stocks is 3.1%. Federal Realty Inv. Trust had an annual average earnings growth of 2.3% over the past 10 years. GuruFocus rated Federal Realty Inv. Trust the business predictability rank of 3.5-star.
Shaw Group Inc., headquartered in Baton Rouge, La., is a diverse engineering, construction, technology, fabrication, environmental and industrial services organization. Shaw Group Inc. has a market cap of $3.17 billion; its shares were traded at around $38.99 with a P/E ratio of 22 and P/S ratio of 0.4. Shaw Group Inc. had an annual average earnings growth of 9.1% over the past 10 years.
Crown Castle International is a owner and operator of towers and transmission networks for wireless communications and broadcast transmission companies. Crown Castle Intl. Corp. has a market cap of $12.28 billion; its shares were traded at around $42.21 with a P/E ratio of 2110.5 and P/S ratio of 6.5. Crown Castle Intl. Corp. had an annual average earnings growth of 11.7% over the past 10 years.
SBA Communications Corp. is an independent owner and operator of wireless communications infrastructure in the United States. Sba Communications Corp. has a market cap of $4.5 billion; its shares were traded at around $39.19 with and P/S ratio of 7.2. Sba Communications Corp. had an annual average earnings growth of 11.2% over the past 10 years.
Today, the earnings of the companies that make up this Index are about $76 per share, more than 50% higher than in January 2000. The free cash flow of these companies is now about $100 per share, almost three times higher, and dividends should be around $25 per share, approximately 50% higher. Because these companies are producing more earnings, cash flow and dividends, it seems obvious the value of their stocks is much higher today than in 2000.
As of 03/31/2011, Davis Selected Advisers owns 168 stocks with a total value of $59.3 billion. These are the details of the buys and sells.
This is the portfolio chart of Chris Davis. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.
- New Purchases: EXPE, DIS, BDN, NLSN, C.PH, PSA, WFMI, EQR,
- Added Positions: ACE, KFT, APD, BK, IRM, RE, AMX, MRK, SPG, EGP, AMT, PCL, TD,
- Reduced Positions: PFE, MCO, PG, NWSA, KMX, TV, VTR, HIW, ALEX, TCO, IDXX, FCX, TSN, BXP,
- Sold Out: HSY, FRT, CCI, SHAW, SBAC,
This is the sector weightings of his portfolio:
| Financials | 30.7% |
| Oil & Gas | 17.6% |
| Consumer Services | 12.8% |
| Health Care | 9.7% |
| Industrials | 9.3% |
| Consumer Goods | 8% |
| Technology | 5.5% |
| Basic Materials | 1.7% |
| Telecommunications | 0.5% |
These are the top 5 holdings of Chris Davis
- WELLS FARGO & CO. (WFC) - 93,493,190 shares, 5% of the total portfolio. Shares reduced by 0.19%
- Costco Wholesale Corp. (COST) - 39,340,164 shares, 4.86% of the total portfolio. Shares reduced by 6.39%
- AMERICAN EXPRESS COMPANY (AXP) - 63,517,315 shares, 4.84% of the total portfolio. Shares reduced by 4.08%
- OCCIDENTAL PETROLEUM Corp. (OXY) - 24,676,993 shares, 4.35% of the total portfolio. Shares reduced by 1%
- EOG RESOURCES INC. (EOG) - 21,627,349 shares, 4.32% of the total portfolio. Shares reduced by 1.75%
Added: Ace Ltd. (ACE, Financial)
Chris Davis added to his holdings in Ace Ltd. by 2758.77%. His purchase prices were between $60.15 and $65.74, with an estimated average price of $62.2. The impact to his portfolio due to this purchase was 0.5%. His holdings were 4,746,710 shares as of 03/31/2011.ACE LTD. provides excess liability insurance for bodily injury, property damage, & wrongful advertising. Ace Ltd. has a market cap of $22.79 billion; its shares were traded at around $67.91 with a P/E ratio of 9.9 and P/S ratio of 1.5. The dividend yield of Ace Ltd. stocks is 2%. Ace Ltd. had an annual average earnings growth of 38.8% over the past 10 years. GuruFocus rated Ace Ltd. the business predictability rank of 2-star.
Added: Kraft Foods Inc. (KFT, Financial)
Chris Davis added to his holdings in Kraft Foods Inc. by 113.63%. His purchase prices were between $30.49 and $31.84, with an estimated average price of $31.21. The impact to his portfolio due to this purchase was 0.39%. His holdings were 13,830,540 shares as of 03/31/2011.Kraft Foods, Inc. is the largest branded food and beverage company headquartered in the U. Kraft Foods Inc. has a market cap of $59.91 billion; its shares were traded at around $34.27 with a P/E ratio of 16.7 and P/S ratio of 1.2. The dividend yield of Kraft Foods Inc. stocks is 3.4%. Kraft Foods Inc. had an annual average earnings growth of 2.3% over the past 5 years.
Added: Air Products & Chemicals (APD, Financial)
Chris Davis added to his holdings in Air Products & Chemicals by 132.29%. His purchase prices were between $84.12 and $94.96, with an estimated average price of $89.1. The impact to his portfolio due to this purchase was 0.28%. His holdings were 3,320,558 shares as of 03/31/2011.Air Products and Chemicals, Inc. has established an internationally recognized industrial gas and related industrial process equipment business, and developed strong positions as a producer of certain chemicals. Air Products & Chemicals has a market cap of $19.98 billion; its shares were traded at around $92.98 with a P/E ratio of 17.3 and P/S ratio of 2.2. The dividend yield of Air Products & Chemicals stocks is 2.5%. Air Products & Chemicals had an annual average earnings growth of 9.3% over the past 10 years. GuruFocus rated Air Products & Chemicals the business predictability rank of 3-star.
Added: Bank Of New York Mellon Corp. (BK, Financial)
Chris Davis added to his holdings in Bank Of New York Mellon Corp. by 5.9%. His purchase prices were between $28.2 and $32.37, with an estimated average price of $30.65. The impact to his portfolio due to this purchase was 0.23%. His holdings were 83,625,320 shares as of 03/31/2011.Bank of New York is a bank holding company and one of the world's larger financial institutions. Bank Of New York Mellon Corp. has a market cap of $35.2 billion; its shares were traded at around $28.34 with a P/E ratio of 12.4 and P/S ratio of 2.6. The dividend yield of Bank Of New York Mellon Corp. stocks is 1.8%.
Added: Iron Mountain (IRM)
Chris Davis added to his holdings in Iron Mountain by 8.35%. His purchase prices were between $24.39 and $31.42, with an estimated average price of $26.51. The impact to his portfolio due to this purchase was 0.17%. His holdings were 42,195,774 shares as of 03/31/2011.Iron Mountain Incorporated is one of the world's largest records and information management services company. Iron Mountain has a market cap of $6.53 billion; its shares were traded at around $32.64 with a P/E ratio of 27.4 and P/S ratio of 2.1. The dividend yield of Iron Mountain stocks is 2.3%. Iron Mountain had an annual average earnings growth of 12.2% over the past 10 years. GuruFocus rated Iron Mountain the business predictability rank of 4-star.
Added: Everest Re Group Ltd. (RE)
Chris Davis added to his holdings in Everest Re Group Ltd. by 85.41%. His purchase prices were between $81.61 and $90.58, with an estimated average price of $85.02. The impact to his portfolio due to this purchase was 0.13%. His holdings were 1,963,072 shares as of 03/31/2011.Everest Re Group, Ltd. is a world leader in property and casualty reinsurance and insurance, offering innovative products, responsive service and unsurpassed financial strength. Everest Re Group Ltd. has a market cap of $4.87 billion; its shares were traded at around $89.76 with a P/E ratio of 19.5 and P/S ratio of 1. The dividend yield of Everest Re Group Ltd. stocks is 2.1%.
Added: America Movil S.a.b De C.v (AMX)
Chris Davis added to his holdings in America Movil S.a.b De C.v by 28.18%. His purchase prices were between $53.63 and $59, with an estimated average price of $56.87. The impact to his portfolio due to this purchase was 0.11%. His holdings were 5,264,878 shares as of 03/31/2011.American Movil is the provider of wireless communications services in Mexico. America Movil S.a.b De C.v has a market cap of $105.49 billion; its shares were traded at around $52.35 with a P/E ratio of 14.4 and P/S ratio of 2.2. The dividend yield of America Movil S.a.b De C.v stocks is 1%. America Movil S.a.b De C.v had an annual average earnings growth of 31.9% over the past 10 years. GuruFocus rated America Movil S.a.b De C.v the business predictability rank of 4-star.
Added: Merck & Co. Inc. (MRK)
Chris Davis added to his holdings in Merck & Co. Inc. by 3.23%. His purchase prices were between $31.08 and $37.35, with an estimated average price of $33.51. The impact to his portfolio due to this purchase was 0.1%. His holdings were 56,471,026 shares as of 03/31/2011.Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Merck & Co. Inc. has a market cap of $112.93 billion; its shares were traded at around $36.63 with a P/E ratio of 10.5 and P/S ratio of 2.4. The dividend yield of Merck & Co. Inc. stocks is 4.2%.
Added: Simon Property Group Inc. (SPG)
Chris Davis added to his holdings in Simon Property Group Inc. by 63.9%. His purchase prices were between $95.35 and $110.04, with an estimated average price of $103.47. The impact to his portfolio due to this purchase was 0.07%. His holdings were 957,295 shares as of 03/31/2011.Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust which, through its subsidiary partnerships, is engaged in the ownership, development, management, leasing, acquisition and expansion of income-producing properties, primarily regional malls and community shopping centers. Simon Property Group Inc. has a market cap of $34.66 billion; its shares were traded at around $116.7 with a P/E ratio of 20.1 and P/S ratio of 8.7. The dividend yield of Simon Property Group Inc. stocks is 2.8%. Simon Property Group Inc. had an annual average earnings growth of 3.2% over the past 10 years.
Added: Eastgroup Properties Inc. (EGP)
Chris Davis added to his holdings in Eastgroup Properties Inc. by 157.42%. His purchase prices were between $40.79 and $45.53, with an estimated average price of $42.86. The impact to his portfolio due to this purchase was 0.04%. His holdings were 925,719 shares as of 03/31/2011.EastGroup Properties is a self-administered real estate investment trust focused on ownership, acquisition and selective development of industrial properties. Eastgroup Properties Inc. has a market cap of $1.24 billion; its shares were traded at around $45.8 with a P/E ratio of 16.2 and P/S ratio of 7.1. The dividend yield of Eastgroup Properties Inc. stocks is 4.5%. Eastgroup Properties Inc. had an annual average earnings growth of 0.3% over the past 10 years.
Added: American Tower Corp. (AMT)
Chris Davis added to his holdings in American Tower Corp. by 34.22%. His purchase prices were between $46.61 and $56.73, with an estimated average price of $51.75. The impact to his portfolio due to this purchase was 0.01%. His holdings were 466,598 shares as of 03/31/2011.American Tower Corporation is a wireless communications and broadcast infrastructure company with three operating segments. American Tower Corp. has a market cap of $21.34 billion; its shares were traded at around $53.52 with a P/E ratio of 58.2 and P/S ratio of 10.8. American Tower Corp. had an annual average earnings growth of 9.1% over the past 10 years.
Added: Plum Creek Timber Company Inc. (PCL)
Chris Davis added to his holdings in Plum Creek Timber Company Inc. by 31.87%. His purchase prices were between $37.45 and $43.14, with an estimated average price of $41.25. The impact to his portfolio due to this purchase was 0.01%. His holdings were 806,501 shares as of 03/31/2011.Plum Creek Timber is the second largest private timberland owner in the United States, with approximately 7. Plum Creek Timber Company Inc. has a market cap of $6.74 billion; its shares were traded at around $41.67 with a P/E ratio of 38.2 and P/S ratio of 5.6. The dividend yield of Plum Creek Timber Company Inc. stocks is 4.1%. Plum Creek Timber Company Inc. had an annual average earnings growth of 2.1% over the past 10 years.
Added: Toronto-dominion Bank (TD)
Chris Davis added to his holdings in Toronto-dominion Bank by 2300.74%. His purchase prices were between $74.02 and $88.94, with an estimated average price of $80.41. The impact to his portfolio due to this purchase was 0.01%. His holdings were 81,505 shares as of 03/31/2011.Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. Toronto-dominion Bank has a market cap of $75.57 billion; its shares were traded at around $85.56 with a P/E ratio of 14.6 and P/S ratio of 3. The dividend yield of Toronto-dominion Bank stocks is 3.1%. Toronto-dominion Bank had an annual average earnings growth of 9.1% over the past 10 years.
New Purchase: Expedia Inc. (EXPE, Financial)
Chris Davis initiated holdings in Expedia Inc.. His purchase prices were between $19.6925 and $27.3, with an estimated average price of $23.36. The impact to his portfolio due to this purchase was 0.32%. His holdings were 8,485,607 shares as of 03/31/2011.Expedia, Inc. is one of the world's travel services companies. Expedia Inc. has a market cap of $6.86 billion; its shares were traded at around $25.08 with a P/E ratio of 16.3 and P/S ratio of 2.1. The dividend yield of Expedia Inc. stocks is 1.1%. Expedia Inc. had an annual average earnings growth of 9% over the past 5 years.
New Purchase: Walt Disney Company (DIS, Financial)
Chris Davis initiated holdings in Walt Disney Company. His purchase prices were between $37.51 and $44.07, with an estimated average price of $41.35. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,618,909 shares as of 03/31/2011.Walt Disney Company owns 100% of Disney Enterprises, Inc. Walt Disney Company has a market cap of $78.85 billion; its shares were traded at around $41.52 with a P/E ratio of 18.2 and P/S ratio of 2.1. The dividend yield of Walt Disney Company stocks is 1%. Walt Disney Company had an annual average earnings growth of 12.5% over the past 10 years. GuruFocus rated Walt Disney Company the business predictability rank of 3.5-star.
New Purchase: Brandywine Realty Trust (BDN, Financial)
Chris Davis initiated holdings in Brandywine Realty Trust. His purchase prices were between $11.16 and $12.32, with an estimated average price of $11.82. The impact to his portfolio due to this purchase was 0.1%. His holdings were 4,849,685 shares as of 03/31/2011.Brandywine Realty Trust is a self-administered, self-managed and fully integrated Real Estate Investment Trust active in acquiring, developing, redeveloping, leasing and managing suburban office and industrial properties. Brandywine Realty Trust has a market cap of $1.66 billion; its shares were traded at around $12.31 with a P/E ratio of 9.3 and P/S ratio of 3. The dividend yield of Brandywine Realty Trust stocks is 4.9%.
New Purchase: Nielsen Holdings N.v. (NLSN, Financial)
Chris Davis initiated holdings in Nielsen Holdings N.v.. His purchase prices were between $25 and $27.94, with an estimated average price of $26.4. The impact to his portfolio due to this purchase was 0.05%. His holdings were 1,079,877 shares as of 03/31/2011.Nielsen Holdings B.V. is an information and measurement company providing clients with media and marketing information and analytics about what consumers watch (consumer interaction with television, online and mobile) and what consumers buy on a global and local basis. Nielsen Holdings N.v. has a market cap of $10.82 billion; its shares were traded at around $30.19 with and P/S ratio of 2.1.
New Purchase: Citigroup Inc. (C.PH)
Chris Davis initiated holdings in Citigroup Inc.. His purchase prices were between $125.95 and $145.7, with an estimated average price of $135.15. The impact to his portfolio due to this purchase was 0.03%. His holdings were 134,000 shares as of 03/31/2011..
New Purchase: Public Storage Inc. (PSA)
Chris Davis initiated holdings in Public Storage Inc.. His purchase prices were between $100.75 and $112.58, with an estimated average price of $107.74. The impact to his portfolio due to this purchase was 0.02%. His holdings were 106,543 shares as of 03/31/2011.Public Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. Public Storage Inc. has a market cap of $20.31 billion; its shares were traded at around $119.15 with a P/E ratio of 21.4 and P/S ratio of 12.3. The dividend yield of Public Storage Inc. stocks is 2.6%. Public Storage Inc. had an annual average earnings growth of 5.7% over the past 10 years. GuruFocus rated Public Storage Inc. the business predictability rank of 4.5-star.
New Purchase: Whole Foods Market Inc. (WFMI)
Chris Davis initiated holdings in Whole Foods Market Inc.. His purchase prices were between $48.1 and $65.93, with an estimated average price of $56. The impact to his portfolio due to this purchase was 0.02%. His holdings were 216,690 shares as of 03/31/2011.Whole Foods Market is the largest purveyor of natural foods in the world. Whole Foods Market Inc. has a market cap of $10.41 billion; its shares were traded at around $59.95 with a P/E ratio of 37.5 and P/S ratio of 1.1. The dividend yield of Whole Foods Market Inc. stocks is 0.7%. Whole Foods Market Inc. had an annual average earnings growth of 7% over the past 10 years. GuruFocus rated Whole Foods Market Inc. the business predictability rank of 2-star.
New Purchase: Equity Residential (EQR)
Chris Davis initiated holdings in Equity Residential. His purchase prices were between $49.94 and $55.59, with an estimated average price of $53.23. The impact to his portfolio due to this purchase was 0.01%. His holdings were 151,942 shares as of 03/31/2011.Equity Residential Prop. is a self-administered and self-managed equity real estate investment trust. Equity Residential has a market cap of $17.44 billion; its shares were traded at around $59.32 with a P/E ratio of 25.7 and P/S ratio of 8.7. The dividend yield of Equity Residential stocks is 2.3%. Equity Residential had an annual average earnings growth of 1.6% over the past 5 years.
Reduced: Pfizer Inc. (PFE, Financial)
Chris Davis reduced to his holdings in Pfizer Inc. by 30.42%. His sale prices were between $17.51 and $20.38, with an estimated average price of $19.07. The impact to his portfolio due to this sale was -0.7%. Chris Davis still held 46,886,849 shares as of 03/31/2011.Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc. has a market cap of $164.7 billion; its shares were traded at around $20.61 with a P/E ratio of 9.2 and P/S ratio of 2.4. The dividend yield of Pfizer Inc. stocks is 3.9%.
Reduced: Moodys Corp. (MCO, Financial)
Chris Davis reduced to his holdings in Moodys Corp. by 77.69%. His sale prices were between $26.54 and $34.45, with an estimated average price of $30.5. The impact to his portfolio due to this sale was -0.66%. Chris Davis still held 3,258,732 shares as of 03/31/2011.Moody's Corporation is the parent company of Moody's Investors Service, a provider of credit ratings, research and analysis covering debt instruments and securities in the global capital markets, Moody's KMV, a provider of credit risk processing and credit risk management products for banks and investors in credit-sensitive assets serving the world's largest financial institutions, Moody's Economy. Moodys Corp. has a market cap of $8.62 billion; its shares were traded at around $37.82 with a P/E ratio of 16.3 and P/S ratio of 4.2. The dividend yield of Moodys Corp. stocks is 1.2%. Moodys Corp. had an annual average earnings growth of 10.4% over the past 10 years.
Reduced: Procter & Gamble Company (PG, Financial)
Chris Davis reduced to his holdings in Procter & Gamble Company by 25.1%. His sale prices were between $59.73 and $66.7, with an estimated average price of $63.31. The impact to his portfolio due to this sale was -0.39%. Chris Davis still held 11,098,135 shares as of 03/31/2011.The Procter & Gamble Company manufactures and markets a broad range of consumer products in many countries throughout the world. Procter & Gamble Company has a market cap of $184.63 billion; its shares were traded at around $65.92 with a P/E ratio of 17.4 and P/S ratio of 2.3. The dividend yield of Procter & Gamble Company stocks is 3.2%. Procter & Gamble Company had an annual average earnings growth of 12.3% over the past 10 years. GuruFocus rated Procter & Gamble Company the business predictability rank of 3.5-star.
Reduced: News Corp. (NWSA)
Chris Davis reduced to his holdings in News Corp. by 94.66%. His sale prices were between $14.13 and $17.71, with an estimated average price of $16.21. The impact to his portfolio due to this sale was -0.35%. Chris Davis still held 651,830 shares as of 03/31/2011.NEWS CORPORATION is a diversified entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers and information services; book publishing; and other. News Corp. has a market cap of $31.96 billion; its shares were traded at around $17.5 with a P/E ratio of 17.5 and P/S ratio of 1. The dividend yield of News Corp. stocks is 0.9%.
Reduced: Carmax Inc. (KMX)
Chris Davis reduced to his holdings in Carmax Inc. by 30.81%. His sale prices were between $31.42 and $36.83, with an estimated average price of $33.53. The impact to his portfolio due to this sale was -0.32%. Chris Davis still held 13,106,707 shares as of 03/31/2011.CarMax Group is a subsidiary of Circuit City Stores, Inc. Carmax Inc. has a market cap of $7.14 billion; its shares were traded at around $31.62 with a P/E ratio of 19 and P/S ratio of 0.8. Carmax Inc. had an annual average earnings growth of 2.9% over the past 10 years.
Reduced: Grupo Televisa S.a. (TV)
Chris Davis reduced to his holdings in Grupo Televisa S.a. by 42.73%. His sale prices were between $22.78 and $26.5, with an estimated average price of $24.29. The impact to his portfolio due to this sale was -0.25%. Chris Davis still held 8,007,235 shares as of 03/31/2011.Grupo Televisa, S.A, is the largest media company in the Spanish-speaking world, and a major player in the international entertainment business. Grupo Televisa S.a. has a market cap of $13.24 billion; its shares were traded at around $23.39 with a P/E ratio of 21.3 and P/S ratio of 2.8. Grupo Televisa S.a. had an annual average earnings growth of 9.7% over the past 10 years.
Reduced: Ventas Inc. (VTR)
Chris Davis reduced to his holdings in Ventas Inc. by 44.7%. His sale prices were between $51.35 and $57.19, with an estimated average price of $53.55. The impact to his portfolio due to this sale was -0.07%. Chris Davis still held 968,925 shares as of 03/31/2011.Ventas, Inc. is a healthcare real estate investment trust. Ventas Inc. has a market cap of $8.95 billion; its shares were traded at around $54.89 with a P/E ratio of 18.6 and P/S ratio of 8.7. The dividend yield of Ventas Inc. stocks is 4.2%. Ventas Inc. had an annual average earnings growth of 6.5% over the past 10 years.
Reduced: Highwoods Propertiesinc. (HIW)
Chris Davis reduced to his holdings in Highwoods Propertiesinc. by 51.29%. His sale prices were between $31.63 and $34.74, with an estimated average price of $33.16. The impact to his portfolio due to this sale was -0.07%. Chris Davis still held 1,269,076 shares as of 03/31/2011.Highwoods Properties, Inc. is a fully integrated, self-administered real estate investment trust that provides leasing, management, development, construction and other customer-related services for its properties and for third parties. Highwoods Propertiesinc. has a market cap of $2.57 billion; its shares were traded at around $35.82 with a P/E ratio of 14.6 and P/S ratio of 5.5. The dividend yield of Highwoods Propertiesinc. stocks is 4.8%.
Reduced: Alexander & Baldwin Inc (ALEX)
Chris Davis reduced to his holdings in Alexander & Baldwin Inc by 59.08%. His sale prices were between $39.69 and $45.57, with an estimated average price of $41.57. The impact to his portfolio due to this sale was -0.03%. Chris Davis still held 226,318 shares as of 03/31/2011.ALEXANDER & BALDWIN, INC. through its subsidiaries, is engaged principally in ocean transportation of goods between west coast of U. Alexander & Baldwin Inc has a market cap of $1.96 billion; its shares were traded at around $47.2 with a P/E ratio of 34.1 and P/S ratio of 1.2. The dividend yield of Alexander & Baldwin Inc stocks is 2.6%.
Reduced: Taubman Centers Inc. (TCO)
Chris Davis reduced to his holdings in Taubman Centers Inc. by 20.81%. His sale prices were between $49.96 and $55.48, with an estimated average price of $52.2. The impact to his portfolio due to this sale was -0.02%. Chris Davis still held 876,610 shares as of 03/31/2011.TAUBMAN CENTERS, INC., a real estate investment trust, is the managing general partner of, and owns an interest in, The Taubman Realty Group Limited Partnership (TRG). Taubman Centers Inc. has a market cap of $3.28 billion; its shares were traded at around $58.86 with a P/E ratio of 20.4 and P/S ratio of 5. The dividend yield of Taubman Centers Inc. stocks is 2.9%. Taubman Centers Inc. had an annual average earnings growth of 5.4% over the past 10 years. GuruFocus rated Taubman Centers Inc. the business predictability rank of 3-star.
Reduced: Idexx Laboratories Inc. (IDXX)
Chris Davis reduced to his holdings in Idexx Laboratories Inc. by 25.61%. His sale prices were between $68.48 and $79.33, with an estimated average price of $74.24. The impact to his portfolio due to this sale was -0.01%. Chris Davis still held 339,111 shares as of 03/31/2011.IDEXX Laboratories, Inc. is a world leader in providing diagnostic, detection, and information products to the animal health industry as well as quality assurance products and services to the food and water industries. Idexx Laboratories Inc. has a market cap of $4.72 billion; its shares were traded at around $82.25 with a P/E ratio of 34.5 and P/S ratio of 4.3. Idexx Laboratories Inc. had an annual average earnings growth of 17.6% over the past 10 years. GuruFocus rated Idexx Laboratories Inc. the business predictability rank of 5-star.
Reduced: Freeportmcmoran C & G (FCX)
Chris Davis reduced to his holdings in Freeportmcmoran C & G by 24.51%. His sale prices were between $47.79 and $60.92, with an estimated average price of $54.52. The impact to his portfolio due to this sale was -0.01%. Chris Davis still held 166,274 shares as of 03/31/2011.Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, and the smelting and refining of copper concentrates in Spain and Indonesia. Freeportmcmoran C & G has a market cap of $45.69 billion; its shares were traded at around $48.27 with a P/E ratio of 9.3 and P/S ratio of 2.4. The dividend yield of Freeportmcmoran C & G stocks is 2%.
Reduced: Tyson Foods Inc. (TSN)
Chris Davis reduced to his holdings in Tyson Foods Inc. by 35.98%. His sale prices were between $16.25 and $19.82, with an estimated average price of $18.08. The impact to his portfolio due to this sale was -0.01%. Chris Davis still held 335,410 shares as of 03/31/2011.Tyson Foods, Inc. is the world's largest fully-integrated producer, processor and marketer of chicken and poultry-based food products. Tyson Foods Inc. has a market cap of $6.8 billion; its shares were traded at around $18.01 with a P/E ratio of 7.1 and P/S ratio of 0.2. The dividend yield of Tyson Foods Inc. stocks is 0.9%.
Reduced: Boston Properties Inc. (BXP)
Chris Davis reduced to his holdings in Boston Properties Inc. by 25.17%. His sale prices were between $84.66 and $95.92, with an estimated average price of $91.85. The impact to his portfolio due to this sale was -0.01%. Chris Davis still held 128,143 shares as of 03/31/2011.Boston Properties is a fully integrated, self-administered and self- managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class-A office, industrial and hotel properties. Boston Properties Inc. has a market cap of $14.91 billion; its shares were traded at around $104.52 with a P/E ratio of 23.5 and P/S ratio of 9.7. The dividend yield of Boston Properties Inc. stocks is 1.9%.
Sold Out: The Hershey Company (HSY, Financial)
Chris Davis sold out his holdings in The Hershey Company. His sale prices were between $46.37 and $54.79, with an estimated average price of $50.85.The Hershey Company is a snack food company and the largest North American manufacturer of quality chocolate and non-chocolate confectionery products. The Hershey Company has a market cap of $12.78 billion; its shares were traded at around $56.23 with a P/E ratio of 21.3 and P/S ratio of 2.2. The dividend yield of The Hershey Company stocks is 2.5%. The Hershey Company had an annual average earnings growth of 5.1% over the past 10 years.
Sold Out: Federal Realty Inv. Trust (FRT)
Chris Davis sold out his holdings in Federal Realty Inv. Trust. His sale prices were between $76.14 and $84.18, with an estimated average price of $80.2.Federal Realty Investment Trust is an owner, operator & redeveloper ofretail properties. Federal Realty Inv. Trust has a market cap of $5.35 billion; its shares were traded at around $86.03 with a P/E ratio of 21.9 and P/S ratio of 9.8. The dividend yield of Federal Realty Inv. Trust stocks is 3.1%. Federal Realty Inv. Trust had an annual average earnings growth of 2.3% over the past 10 years. GuruFocus rated Federal Realty Inv. Trust the business predictability rank of 3.5-star.
Sold Out: Shaw Group Inc. (SHAW)
Chris Davis sold out his holdings in Shaw Group Inc.. His sale prices were between $32.21 and $41.05, with an estimated average price of $37.44.Shaw Group Inc., headquartered in Baton Rouge, La., is a diverse engineering, construction, technology, fabrication, environmental and industrial services organization. Shaw Group Inc. has a market cap of $3.17 billion; its shares were traded at around $38.99 with a P/E ratio of 22 and P/S ratio of 0.4. Shaw Group Inc. had an annual average earnings growth of 9.1% over the past 10 years.
Sold Out: Crown Castle Intl. Corp. (CCI)
Chris Davis sold out his holdings in Crown Castle Intl. Corp.. His sale prices were between $37.37 and $46.17, with an estimated average price of $42.02.Crown Castle International is a owner and operator of towers and transmission networks for wireless communications and broadcast transmission companies. Crown Castle Intl. Corp. has a market cap of $12.28 billion; its shares were traded at around $42.21 with a P/E ratio of 2110.5 and P/S ratio of 6.5. Crown Castle Intl. Corp. had an annual average earnings growth of 11.7% over the past 10 years.
Sold Out: Sba Communications Corp. (SBAC)
Chris Davis sold out his holdings in Sba Communications Corp.. His sale prices were between $36.94 and $44.26, with an estimated average price of $41.01.SBA Communications Corp. is an independent owner and operator of wireless communications infrastructure in the United States. Sba Communications Corp. has a market cap of $4.5 billion; its shares were traded at around $39.19 with and P/S ratio of 7.2. Sba Communications Corp. had an annual average earnings growth of 11.2% over the past 10 years.
