Insight into the Investment Shifts of a Veteran Value Investor
Arnold Van Den Berg (Trades, Portfolio), the seasoned value investor and founder of Century Management in 1974, has once again made significant moves in the first quarter of 2024. Known for his adherence to Benjamin Graham's principles, Van Den Berg seeks to invest in companies significantly below their intrinsic value, ensuring a robust margin of safety. His latest 13F filing reveals strategic exits, including a notable sell-off in Markel Group Inc, and additions that align with his investment philosophy, focusing primarily on U.S.-based companies.
Summary of New Buys
Arnold Van Den Berg (Trades, Portfolio) expanded his portfolio by adding 8 new stocks in the first quarter. Key new positions include:
- Everest Group Ltd (EG, Financial) with 7,109 shares, making up 0.83% of the portfolio and valued at $2.83 million.
- CME Group Inc (CME, Financial), comprising 11,527 shares or approximately 0.73% of the portfolio, with a total value of $2.48 million.
- Arch Capital Group Ltd (ACGL, Financial), holding 21,826 shares, accounting for 0.59% of the portfolio and valued at $2.02 million.
Key Position Increases
Van Den Berg also significantly increased his stakes in 35 stocks. Noteworthy increases include:
- Columbus McKinnon Corp (CMCO, Financial), where he added 66,471 shares, bringing the total to 73,056 shares. This represents a 1009.43% increase in share count, impacting the portfolio by 0.87% and valued at $3.26 million.
- Sprott Physical Gold Trust (PHYS, Financial), with an additional 171,406 shares, bringing the total to 883,884 shares. This adjustment represents a 24.06% increase in share count, valued at $15.29 million.
Summary of Sold Out Positions
During this quarter, Arnold Van Den Berg (Trades, Portfolio) completely exited two holdings:
- Markel Group Inc (MKL, Financial): All 7,958 shares were sold, resulting in a -3.75% impact on the portfolio.
- Powell Industries Inc (POWL, Financial): The entire stake of 34,544 shares was liquidated, causing a -1.01% impact on the portfolio.
Key Position Reductions
Furthermore, Van Den Berg reduced his positions in 42 stocks. Significant reductions include:
- Meta Platforms Inc (META, Financial), reduced by 5,236 shares, resulting in a -30.1% decrease in shares and a -0.61% impact on the portfolio. The stock traded at an average price of $446.07 during the quarter.
- Berkshire Hathaway Inc (BRK.B, Financial), reduced by 3,547 shares, resulting in a -5.91% reduction in shares and a -0.42% impact on the portfolio. The stock traded at an average price of $393.34 during the quarter.
Portfolio Overview
As of the first quarter of 2024, Arnold Van Den Berg (Trades, Portfolio)'s portfolio included 111 stocks. The top holdings were:
- 6.97% in Berkshire Hathaway Inc (BRK.B, Financial)
- 6.73% in Pioneer Natural Resources Co (PXD, Financial)
- 5.18% in Diamondback Energy Inc (FANG, Financial)
- 4.48% in Sprott Physical Gold Trust (PHYS, Financial)
- 4.22% in Alphabet Inc (GOOG, Financial)
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
