Arnold Van Den Berg Buys MEMC Electronic Materials Inc., Frontier Oil Corp., Texas Instruments Inc., Sells The Estee Lauder Companies Inc., Eastman Kodak Company, Avery Dennison Corp.

Arnold Van Den Berg\'s Core Holdings Update: Sells AVY, EK, EL, SPY, YRCW

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Mar 12, 2010
Arnold Van Den Berg of Century Management thinks that at the current market conditions, Ratio of Upside Potential Versus Downside Risk is Not Favorable. He has done more selling than buying during the 4th quarter of 2009. The portfolios reported here are supplied directly by Century Management. This is the CM Value I portfolio, the core holdings of Arnold Van Den Berg.


Arnold Van Den Berg buys LECG Corp., MEMC Electronic Materials Inc., Texas Instruments Inc., Frontier Oil Corp., CDI Corp., sells The Estee Lauder Companies Inc., Avery Dennison Corp., Eastman Kodak Company, YRC Worldwide Inc., Spdr S&p 500 during the 3-months ended 12/31/2009. Arnold Van Den Berg owns 96 stocks with a total value of $1.3 billion. These are the details of the buys and sells.


For the details of Arnold Van Den Berg's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Arnold+Van+Den+Berg


This is the sector weightings of his portfolio:


Technology

25.3%

Industrials

20.1%

Consumer Services

19.6%

Consumer Goods

14.9%

Financials

9.2%

Health Care

5.5%

Basic Materials

1.6%

Oil & Gas

1%




These are the top 5 holdings of Arnold Van Den Berg


  1. Microsoft Corp. (MSFT) - 3,297,106 shares, 7.79% of the total portfolio
  2. WalMart Stores Inc. (WMT) - 1,315,053 shares, 5.45% of the total portfolio
  3. UnitedHealth Group Inc. (UNH) - 2,235,900 shares, 5.28% of the total portfolio
  4. The CocaCola Company (KO) - 1,132,810 shares, 5.01% of the total portfolio
  5. ColgatePalmolive Company (CL) - 644,906 shares, 4.11% of the total portfolio



Added: Memc Electronic Materials Inc. (WFR, Financial)

Arnold Van Den Berg added to his holdings in Memc Electronic Materials Inc. by 597.11%. His purchase prices were between $11.98 and $16.3, with an estimated average price of $13.29. The impact to his portfolio due to this purchase was 2.02%. His holdings were 2,235,317 shares as of 12/31/2009.


MEMC Electronic Materials, Inc. is a global producer of polysilicon and silicon wafers. Memc Electronic Materials Inc. has a market cap of $3.13 billion; its shares were traded at around $13.99 with and P/S ratio of 2.8. Memc Electronic Materials Inc. had an annual average earning growth of 50% over the past 5 years.


Added: Frontier Oil Corp. (FTO, Financial)

Arnold Van Den Berg added to his holdings in Frontier Oil Corp. by 139.75%. His purchase prices were between $11.09 and $16.05, with an estimated average price of $12.83. The impact to his portfolio due to this purchase was 0.61%. His holdings were 1,117,823 shares as of 12/31/2009.


Frontier Oil Corporation is an independent energy company engaged in crude oil refining and the wholesale marketing of refined petroleum products. Frontier Oil Corp. has a market cap of $1.5 billion; its shares were traded at around $14.28 with and P/S ratio of 0.3. Frontier Oil Corp. had an annual average earning growth of 74.4% over the past 5 years.


Added: Texas Instruments Inc. (TXN, Financial)

Arnold Van Den Berg added to his holdings in Texas Instruments Inc. by 34.77%. His purchase prices were between $22.49 and $26.85, with an estimated average price of $24.8. The impact to his portfolio due to this purchase was 0.51%. His holdings were 984,133 shares as of 12/31/2009.


Texas Instruments, Inc. is a global semiconductor company and one of the world's designers and suppliers of digital signal processors and analog integrated circuits, the engines driving the digitization of electronics. Texas Instruments Inc. has a market cap of $29.89 billion; its shares were traded at around $24.07 with a P/E ratio of 19.1 and P/S ratio of 2.7. The dividend yield of Texas Instruments Inc. stocks is 1.9%. Texas Instruments Inc. had an annual average earning growth of 42.8% over the past 5 years.


Added: Cdi Corp. (CDI, Financial)

Arnold Van Den Berg added to his holdings in Cdi Corp. by 40.41%. His purchase prices were between $11.79 and $14.3, with an estimated average price of $12.74. The impact to his portfolio due to this purchase was 0.27%. His holdings were 944,016 shares as of 12/31/2009.


CDI CORP. has three business segments: Technical Services, Temporary Services and Managment Recruiters. Cdi Corp. has a market cap of $292.6 million; its shares were traded at around $15.44 with and P/S ratio of 0.3. The dividend yield of Cdi Corp. stocks is 3.4%. Cdi Corp. had an annual average earning growth of 23.7% over the past 5 years.


Added: Marsh & Mclennan Companies Inc. (MMC, Financial)

Arnold Van Den Berg added to his holdings in Marsh & Mclennan Companies Inc. by 4.29%. His purchase prices were between $21.54 and $25.27, with an estimated average price of $23.16. The impact to his portfolio due to this purchase was 0.13%. His holdings were 1,838,618 shares as of 12/31/2009.


Marsh & McLennan is primarily a holding company which, through its subsidiaries and affiliates, provides clients with analysis, advice and transactional capabilities in the fields of risk and insurance services, investment management and consulting. Marsh & Mclennan Companies Inc. has a market cap of $12.81 billion; its shares were traded at around $24.07 with a P/E ratio of 15.1 and P/S ratio of 1.2. The dividend yield of Marsh & Mclennan Companies Inc. stocks is 3.4%.


Added: M.d.c. Holdings Inc. (MDC, Financial)

Arnold Van Den Berg added to his holdings in M.d.c. Holdings Inc. by 7.41%. His purchase prices were between $28.5 and $37.02, with an estimated average price of $31.89. The impact to his portfolio due to this purchase was 0.12%. His holdings were 731,887 shares as of 12/31/2009.


M.D.C. HOLDINGS, INC. is engaged in the construction, sale and related financing of residential housing and the acquisition and development of land for use in its homebuilding activities and sale to others, in the Denver, Phoenix, Maryland, Virginia, mid Atlantic region, Las Vegas, Dallas, California metropolitan areas. M.d.c. Holdings Inc. has a market cap of $1.74 billion; its shares were traded at around $35.87 with and P/S ratio of 1.9. The dividend yield of M.d.c. Holdings Inc. stocks is 2.8%.


Added: Lecg Corp. (XPRT, Financial)

Arnold Van Den Berg added to his holdings in Lecg Corp. by 392.79%. His purchase prices were between $2.53 and $3.66, with an estimated average price of $3.11. The impact to his portfolio due to this purchase was 0.06%. His holdings were 300,947 shares as of 12/31/2009.


LECG Corp conducts economic and financial analyses to provide objective opinions and advice that help resolve complex disputes and inform legislative, judicial, regulatory and business decision makers. Lecg Corp. has a market cap of $78 million; its shares were traded at around $3.01 with and P/S ratio of 0.3. Lecg Corp. had an annual average earning growth of 1.9% over the past 5 years.


Reduced: Cost Plus Inc. (CPWM, Financial)

Arnold Van Den Berg reduced to his holdings in Cost Plus Inc. by 94.73%. His sale prices were between $1.03 and $2.26, with an estimated average price of $1.72. The impact to his portfolio due to this sale was -0.01%. Arnold Van Den Berg still held 87,865 shares as of 12/31/2009.


Cost Plus, Inc. is a specialty retailer of casual home furnishings and entertaining products. Cost Plus Inc. has a market cap of $52.5 million; its shares were traded at around $2.38 .


Reduced: Fedex Corp. (FDX, Financial)

Arnold Van Den Berg reduced to his holdings in Fedex Corp. by 52.56%. His sale prices were between $72.69 and $91.36, with an estimated average price of $81.74. The impact to his portfolio due to this sale was -0.3%. Arnold Van Den Berg still held 89,587 shares as of 12/31/2009.


FedEx Corporation is a global transportation and logistics enterprise that offers customers a one-stop source for global shipping, logistics and supply chain solutions. Fedex Corp. has a market cap of $27.06 billion; its shares were traded at around $86.49 with a P/E ratio of 33 and P/S ratio of 0.8. The dividend yield of Fedex Corp. stocks is 0.5%. Fedex Corp. had an annual average earning growth of 17.7% over the past 10 years.


Reduced: Gannett Co. Inc. (GCI, Financial)

Arnold Van Den Berg reduced to his holdings in Gannett Co. Inc. by 37.79%. His sale prices were between $9.76 and $15.63, with an estimated average price of $12.12. The impact to his portfolio due to this sale was -0.4%. Arnold Van Den Berg still held 931,025 shares as of 12/31/2009.


Gannett Co., Inc. is an international news and information company that publishes daily newspapers in the USA, including USA TODAY, the nation'slargest-selling daily newspaper. Gannett Co. Inc. has a market cap of $3.87 billion; its shares were traded at around $16.29 with a P/E ratio of 8.6 and P/S ratio of 0.7. The dividend yield of Gannett Co. Inc. stocks is 1%. Gannett Co. Inc. had an annual average earning growth of 4.9% over the past 10 years.


Reduced: News Corp. (NWSA, Financial)

Arnold Van Den Berg reduced to his holdings in News Corp. by 28.79%. His sale prices were between $11.27 and $13.97, with an estimated average price of $12.39. The impact to his portfolio due to this sale was -0.54%. Arnold Van Den Berg still held 1,763,452 shares as of 12/31/2009.


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 $25.98 billion; its shares were traded at around $14.26 with a P/E ratio of 18.1 and P/S ratio of 0.9. The dividend yield of News Corp. stocks is 0.8%.


Reduced: E.i. Du Pont De Nemours And Co. (DD, Financial)

Arnold Van Den Berg reduced to his holdings in E.i. Du Pont De Nemours And Co. by 36.25%. His sale prices were between $30.54 and $35.38, with an estimated average price of $33.28. The impact to his portfolio due to this sale was -0.56%. Arnold Van Den Berg still held 593,000 shares as of 12/31/2009.


E.I. DuPont de Nemours is involved in science and technology in a range of disciplines including high-performance materials, specialty chemicals, pharmaceuticals and biotechnology. E.i. Du Pont De Nemours And Co. has a market cap of $31.95 billion; its shares were traded at around $35.35 with a P/E ratio of 17.3 and P/S ratio of 1.2. The dividend yield of E.i. Du Pont De Nemours And Co. stocks is 4.6%. E.i. Du Pont De Nemours And Co. had an annual average earning growth of 1.7% over the past 5 years.


Reduced: American Express Company (AXP)

Arnold Van Den Berg reduced to his holdings in American Express Company by 36.69%. His sale prices were between $32.49 and $41.83, with an estimated average price of $38.68. The impact to his portfolio due to this sale was -0.89%. Arnold Van Den Berg still held 772,422 shares as of 12/31/2009.


American Express Company is primarily engaged in the business of providing travel related services, financial advisory services and international banking services throughout the world. American Express Company has a market cap of $48 billion; its shares were traded at around $40.11 with a P/E ratio of 27.9 and P/S ratio of 1.9. The dividend yield of American Express Company stocks is 1.8%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.


Reduced: Colgatepalmolive Company (CL)

Arnold Van Den Berg reduced to his holdings in Colgatepalmolive Company by 23.74%. His sale prices were between $76.84 and $86.32, with an estimated average price of $81.62. The impact to his portfolio due to this sale was -0.98%. Arnold Van Den Berg still held 644,906 shares as of 12/31/2009.


Colgate-Palmolive is a global consumer products company, tightly focused on Oral Care, Personal Care, Household Surface Care, Fabric Care and Pet Nutrition. Colgatepalmolive Company has a market cap of $41.51 billion; its shares were traded at around $84.08 with a P/E ratio of 19.3 and P/S ratio of 2.7. The dividend yield of Colgatepalmolive Company stocks is 2.1%. Colgatepalmolive Company had an annual average earning growth of 8.5% over the past 10 years. GuruFocus rated Colgatepalmolive Company the business predictability rank of 4-star.


Reduced: Microsoft Corp. (MSFT)

Arnold Van Den Berg reduced to his holdings in Microsoft Corp. by 28.58%. His sale prices were between $24.64 and $31.39, with an estimated average price of $28.87. The impact to his portfolio due to this sale was -2.23%. Arnold Van Den Berg still held 3,297,106 shares as of 12/31/2009.


Microsoft develops, manufactures, licenses, and supports a wide range of software products for a multitude of computing devices. Microsoft Corp. has a market cap of $255.92 billion; its shares were traded at around $29.18 with a P/E ratio of 15.5 and P/S ratio of 4.3. The dividend yield of Microsoft Corp. stocks is 1.8%. Microsoft Corp. had an annual average earning growth of 10% over the past 10 years.


Sold Out: Avery Dennison Corp. (AVY)

Arnold Van Den Berg sold out his holdings in Avery Dennison Corp.. His sale prices were between $33.95 and $40.02, with an estimated average price of $37.54.


Avery Dennision Corporation produces pressure-sensitive adhesives and materials and the production of consumer and converted products. Avery Dennison Corp. has a market cap of $3.7 billion; its shares were traded at around $33.04 with a P/E ratio of 18.9 and P/S ratio of 0.6. The dividend yield of Avery Dennison Corp. stocks is 2.4%. Avery Dennison Corp. had an annual average earning growth of 4.4% over the past 10 years.


Sold Out: Eastman Kodak Company (EK)

Arnold Van Den Berg sold out his holdings in Eastman Kodak Company. His sale prices were between $3.47 and $4.61, with an estimated average price of $4.16.


Eastman Kodak Company is engaged primarily in developing, manufacturing and marketing consumer, professional, health and other imaging products and services. Eastman Kodak Company has a market cap of $1.6 billion; its shares were traded at around $5.97 with and P/S ratio of 0.2.


Sold Out: Spdr S&p 500 (SPY)

Arnold Van Den Berg sold out his holdings in Spdr S&p 500. His sale prices were between $102.49 and $112.72, with an estimated average price of $109.17.


Standard and Poor's Depository Reciepts trust is involved in the financial services industry. Spdr S&p 500 has a market cap of $73.16 billion; its shares were traded at around $115.45 . The dividend yield of Spdr S&p 500 stocks is 2.1%.


Sold Out: The Estee Lauder Companies Inc. (EL)

Arnold Van Den Berg sold out his holdings in The Estee Lauder Companies Inc.. His sale prices were between $36.34 and $50.28, with an estimated average price of $45.79.


Estee Lauder Co. is one of the world's manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Estee Lauder Companies Inc. has a market cap of $12.44 billion; its shares were traded at around $63.19 with a P/E ratio of 25.3 and P/S ratio of 1.7. The dividend yield of The Estee Lauder Companies Inc. stocks is 0.9%. The Estee Lauder Companies Inc. had an annual average earning growth of 8.2% over the past 10 years.


Sold Out: Yrc Worldwide Inc. (YRCW)

Arnold Van Den Berg sold out his holdings in Yrc Worldwide Inc.. His sale prices were between $0.8289 and $4.63, with an estimated average price of $1.87.


YRC Worldwide Inc., is one of the largest transportation service providers in the world, is the holding company for a portfolio of successful brands including Yellow Transportation, Roadway Express, Reimer Express, Meridian IQ, USF Holland, USF Reddaway, USF Bestway, USF Glen Moore, and New Penn Motor Express. Yrc Worldwide Inc. has a market cap of $30.5 million; its shares were traded at around $0.505 . Yrc Worldwide Inc. had an annual average earning growth of 3.8% over the past 10 years.