Guru Donald Smith (Trades, Portfolio) has a fondness for investing in financial services and technology stocks. That preference could be seen in his fourth-quarter transactions.
Smith added to his stakes in 13 companies – AerCap Holdings NV (AER, Financial), Kinross Gold Corp (KGC, Financial), Unum Group (UNM, Financial), Ingram Micro Inc (IM, Financial), Yamana Gold Inc (AUY, Financial), Noble Corp PLC (NE, Financial), Sanmina Corp (SANM, Financial), Korea Electric Power Corp (KEP, Financial), Air France-KLM (AFLYY, Financial), Tidewater Inc (TDW, Financial), Peabody Energy Corp (BTU, Financial), Pan American Silver Corp (PAAS, Financial) and HudBay Minerals Inc (HBM).
Smith bought 2,302,639 shares of Netherlands-based AerCap, one of the world's largest aircraft leasing companies, for an average price of $41.28 per share. The transaction had a 1.8% impact on Smith’s portfolio.
He bought 26,346,292 shares of Toronto-based Kinross, the seventh-largest gold company, for an average price of $2.82 per share. The purchase made Kinross the second-largest stake in Smith’s portfolio, and it had a 1.46% impact on that portfolio.
Smith acquired 1,315,553 shares of Unum Group, a Chattanooga, Tennessee-based insurance company, for an average price of $33.75 per share. That purchase had a 0.93% impact on his portfolio.
The investment in Yamana Gold – 4,840,053 shares for an average price of $4.55 per share – was enough to make it the largest stake in Smith’s portfolio. Yamana is a Canadian-based gold producer.
Reductions and divestitures
Smith sold his stakes in two companies – Diamondrock Hospitality Co (DRH) and Oplink Communications Inc (OPLK).
Smith sold his 482,378-share stake in Diamondrock Hospitality, a lodging-focused corporation that operates as a real estate investment trust, for an average price of $12.98 per share. The deal had a -0.13% impact on his portfolio.
He also sold his 307,498-share stake in Oplink Communications, a fiber optic products and services company, for an average price of $20.58 per share. That transaction had a -0.11% impact on his portfolio.
He sold portions of his holdings in six companies – Exelon Corp (EXC), Micron Technology Inc (MU), Royal Caribbean Cruises Ltd (RCL), XL Group PLC (XL), Ruby Tuesday Inc (RT), JetBlue Airways Corp (JBLU), Celestica Inc (CLS) and Bassett Furniture Industries Inc (BSET).
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