JPM Private Bank: A Fundamental Change to the European Psyche This Year
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21 minutes ago
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Howard Marks Reduces Stake in Garrett Motion Inc, Impacting Portfolio by -1.4%
Insightful Moves in the Second Quarter of 2025 Howard Marks (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. As the Chairman of Oaktree Capital Management LP, Marks has been instrumental in steering the firm since its inception in 1995. He ensures adherence to Oaktree's core investment philosophy, focusing on less efficient markets and alternative investments. The firm is known for its significant investments in debt, preferred stocks, and convertible bonds, making it a key player in the financial landscape. Warning! GuruFocus has detected 6 Warning Signs with AER. Summary of New Buy Howard Marks (Trades, Portfolio) added a total of 8 stocks, among them: The most significant addition was Bausch & Lomb Corp (NYSE:BLCO), with 2,521,245 shares, accounting for 0.7% of the portfolio and a total value of $32.8 million. The second largest addition to the portfolio was Full Truck Alliance Co Ltd (NYSE:YMM), consisting of 1,842,337 shares, representing approximately 0.46% of the portfolio, with a total value of $21.76 million. The third largest addition was Liberty Latin America Ltd (NASDAQ:LILAK), with 2,328,516 shares, accounting for 0.31% of the portfolio and a total value of $14.48 million. Key Position Increases Howard Marks (Trades, Portfolio) also increased stakes in a total of 10 stocks, among them: The most notable increase was Itau Unibanco Holding SA (NYSE:ITUB), with an additional 4,063,482 shares, bringing the total to 11,004,494 shares. This adjustment represents a significant 58.54% increase in share count, a 0.58% impact on the current portfolio, with a total value of $74.72 million. The second largest increase was Barrick Mining Corp (NYSE:B), with an additional 641,028 shares, bringing the total to 3,157,686. This adjustment represents a significant 25.47% increase in share count, with a total value of $65.74 million. Summary of Sold Out Howard Marks (Trades, Portfolio) completely exited 9 holdings in the second quarter of 2025, as detailed below: H World Group Ltd (NASDAQ:HTHT): Howard Marks (Trades, Portfolio) sold all 1,229,399 shares, resulting in a -1.06% impact on the portfolio. Inc (NASDAQ:JD): Howard Marks (Trades, Portfolio) liquidated all 960,796 shares, causing a -0.92% impact on the portfolio. Key Position Reduces Howard Marks (Trades, Portfolio) also reduced positions in 16 stocks. The most significant changes include: Reduced Garrett Motion Inc (NASDAQ:GTX) by 7,188,000 shares, resulting in a -16.31% decrease in shares and a -1.4% impact on the portfolio. The stock traded at an average price of $10.04 during the quarter and has returned 6.88% over the past 3 months and 42.35% year-to-date. Reduced Expand Energy Corp (NASDAQ:EXE) by 500,000 shares, resulting in a -8.99% reduction in shares and a -1.3% impact on the portfolio. The stock traded at an average price of $111.58 during the quarter and has returned -14.28% over the past 3 months and -2.04% year-to-date. Portfolio Overview At the second quarter of 2025, Howard Marks (Trades, Portfolio)'s portfolio included 56 stocks. The top holdings included 14.45% in TORM PLC (NASDAQ:TRMD), 12.55% in Expand Energy Corp (NASDAQ:EXE), 8.22% in Garrett Motion Inc (NASDAQ:GTX), 5.04% in Sitio Royalties Corp (NYSE:STR), and 4.78% in Anglogold Ashanti PLC (NYSE:AU). The holdings are mainly concentrated in 11 industries: Energy, Basic Materials, Consumer Cyclical, Healthcare, Financial Services, Technology, Real Estate, Communication Services, Consumer Defensive, Utilities, and Industrials. 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. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
Mario Gabelli's Strategic Moves: iShares Core S&P 500 ETF Takes Center Stage
Exploring the Latest 13F Filing for Q2 2025 Introduction to Mario Gabelli (Trades, Portfolio) Warning! GuruFocus has detected 5 Warning Sign with CR. Mario Gabelli (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Mario J. Gabelli is the Chairman and Chief Executive Officer of GAMCO Investors Inc., the firm he founded in 1977. A 1965 summa cum laude graduate of Fordham University's College of Business Administration, he also holds an M.B.A. from Columbia University Graduate School of Business and honorary doctorates from Fordham University and Roger Williams University. Gabelli serves on the Boards of Boston College, Roger Williams University, Columbia University Graduate School of Business, the American-Italian Cancer Foundation, the Foundation for Italian Art & Culture and is a Trustee of the Winston Churchill Foundation of the United States and of the E.L. Wiegand Foundation. He was Morningstar's Portfolio Manager of the Year in 1997. He was named Money Manager of the Year by Institutional Investor for 2011 and is a member of Barron's All Star Century Team. Gabelli's GAMCO Asset Management is credited by the academic community with establishing the Private Market Value with a Catalyst investment philosophy and applying this to the analysis of public equity securities. The fund's investment approach utilizes fundamental, bottom-up research to identify securities selling below their intrinsic value. GAMCO seeks to identify mispriced companies with strong businesses and the presence of a catalyst that will create value. Summary of New Buy Mario Gabelli (Trades, Portfolio) added a total of 221 stocks, among them: The most significant addition was iShares Core S&P 500 ETF (IVV), with 74,230 shares, accounting for 0.46% of the portfolio and a total value of $46,089,490. The second largest addition to the portfolio was Vanguard Total Stock Market ETF (VTI), consisting of 54,566 shares, representing approximately 0.16% of the portfolio, with a total value of $16,584,120. The third largest addition was Skechers USA Inc (NYSE:SKX), with 126,000 shares, accounting for 0.08% of the portfolio and a total value of $7,950,600. Key Position Increases Mario Gabelli (Trades, Portfolio) also increased stakes in a total of 316 stocks, among them: The most notable increase was SPDR S&P 500 ETF Trust (SPY), with an additional 18,124 shares, bringing the total to 36,434 shares. This adjustment represents a significant 98.98% increase in share count, a 0.11% impact on the current portfolio, with a total value of $22,511,030. The second largest increase was Energizer Holdings Inc (NYSE:ENR), with an additional 491,794 shares, bringing the total to 1,899,587. This adjustment represents a significant 34.93% increase in share count, with a total value of $38,295,670. Summary of Sold Out Mario Gabelli (Trades, Portfolio) completely exited 32 holdings in the second quarter of 2025, as detailed below: Sandy Spring Bancorp Inc (SASR): Mario Gabelli (Trades, Portfolio) sold all 220,206 shares, resulting in a -0.07% impact on the portfolio. Intra-Cellular Therapies Inc (ITCI): Mario Gabelli (Trades, Portfolio) liquidated all 38,100 shares, causing a -0.06% impact on the portfolio. Key Position Reduces Mario Gabelli (Trades, Portfolio) also reduced positions in 342 stocks. The most significant changes include: Reduced JPMorgan Chase & Co (NYSE:JPM) by 28,053 shares, resulting in a -13.57% decrease in shares and a -0.08% impact on the portfolio. The stock traded at an average price of $255.03 during the quarter and has returned 11.00% over the past 3 months and 23.17% year-to-date. Reduced Rollins Inc (NYSE:ROL) by 129,875 shares, resulting in a -7.63% reduction in shares and a -0.08% impact on the portfolio. The stock traded at an average price of $56.07 during the quarter and has returned 6.26% over the past 3 months and 26.52% year-to-date. Portfolio Overview At the second quarter of 2025, Mario Gabelli (Trades, Portfolio)'s portfolio included 1,019 stocks, with top holdings including 2.16% in Crane Co (NYSE:CR), 2.04% in Mueller Industries Inc (NYSE:MLI), 1.95% in GATX Corp (NYSE:GATX), 1.5% in Sony Group Corp (NYSE:SONY), and 1.48% in American Express Co (NYSE:AXP). The holdings are mainly concentrated in all 11 industries: Industrials, Consumer Cyclical, Communication Services, Financial Services, Technology, Consumer Defensive, Basic Materials, Healthcare, Energy, Utilities, and Real Estate. 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. This article first appeared on GuruFocus.
Yahoo
21 minutes ago
- Yahoo
Some Air Canada flights to be cancelled today as clock ticks toward work stoppage
Some Air Canada flights that were scheduled to take off today will be cancelled as the airline braces for a work stoppage this weekend. The union that represents around 10,000 Air Canada flight attendants is poised to strike just before 1 a.m. on Saturday, as the airline also plans to lock out those workers. Air Canada says it will begin cancelling flights today, with more disruptions Friday and a complete stoppage by Saturday if it doesn't reach a last-minute deal with the flight attendants' union. It says customers whose flights are cancelled will be eligible for a full refund, and it has also made arrangements with other Canadian and foreign carriers to provide alternative travel options "to the extent possible." Meanwhile, the airline says it has requested government-directed arbitration. The federal government has not indicated whether it will intervene in the dispute, as federal Jobs Minister Patty Hajdu said in a statement Tuesday that she encourages both parties "to stay at the table until a deal is found." This report by The Canadian Press was first published Aug. 14, 2025. Companies in this story: (TSX:AC) Sammy Hudes, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
