Recent buys and sells of Brian Rogers

T Rowe Price Equity Income Fund buys Apple, sells Procter & Gamble.

By GuruFocus.com Apr 18, 2013 11:49AM

Portfolio Account statement © Alamy Creativity AlamyThe $26 billion T Rowe Price Equity Income Fund has been managed by the firm's chief investment officer Brian Rogers since 1985. Since then, the fund has gained 11% a year on average. Over the past 10 years, the fund averaged 9% a year.


Brian Rogers likes to invest in companies that are well-established and pay above-average dividends. As we can see from his recent purchase, he likes to buy companies that are traded at 52-week lows, too.


As of March 31, T Rowe Price Equity Income Fund owned 120 stocks with a total value of $25.2 billion, according to the fund's most recent filings. These are the details of Brian Rogers buys and sells during the three-months ended on March 31, 2013 that affect the portfolio most:



  • New Purchases: Apple (AAPL), Western Union (WU), Joy Global (JOY), Hospira (HSP)

  • Added Positions: Apache (APA), PNC Financial (PNC), Newmont Mining (NEM), Kohl's Corp (KSS), CenturyLink (CTL)

  • Reduced Positions: Whirlpool (WHR), Ingersoll-Rand (IR), American Express  (AXP), Computer Sciences (CSC)

  • Sold Out: ConAgra (CAG), Amgen (AMGN), Spectra Energy (SE), XL Group (XL), Avery Dennison (AVY), Procter & Gamble (PG), United Technologies (UTX), First Solar (FSLR)

One common characteristic of the companies he bought is that all of them have underperformed the market average over the past year. Especially, Apple, Joy Global, Apache, Newmont Mining are traded closed to mutli-year lows. (Here you can find a list of stocks that are traded at three-year low (GuruFocus).) The stocks he sold, such as Amgen and ConAgra Foods are traded at all-time highs. Here is the complete portfolio of Brian Rogers at GuruFocus.


This is the sector weightings of his portfolio:

Financial Services

20.6%

Industrials

14.1%

Energy

14%

Consumer Cyclical

12.3%

Technology

9.6%

Healthcare

7.1%

Utilities

6.1%

Consumer Defensive

6%

Basic Materials

5.2%

Communication Services

4.9%


The top 5 holdings of Brian Rogers

  1. General Electric (GE) - 31,286,500 shares, 2.9% of the total portfolio.

  2. JPMorgan Chase (JPM) - 14,381,200 shares, 2.7% of the total portfolio.

  3. Chevron (CVX) - 5,366,000 shares, 2.5% of the total portfolio.

  4. Exxon Mobil (XOM) - 6,064,200 shares, 2.2% of the total portfolio.

  5. Wells Fargo (WFC) - 13,319,600 shares, 2.0% of the total portfolio.

More on GuruFocus

0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

116
116 rated 1
265
265 rated 2
429
429 rated 3
612
612 rated 4
499
499 rated 5
525
525 rated 6
701
701 rated 7
533
533 rated 8
337
337 rated 9
131
131 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
UPLULTRA PETROLEUM Corp10
COPCONOCOPHILLIPS9
TAT&T Inc9
DVNDEVON ENERGY CORPORATION9
EOGEOG RESOURCES Inc9
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.