3 days ago
Ruane Cunniff's Strategic Moves: MSA Safety Inc. Takes Center Stage with 2.74% Portfolio Impact
Exploring the Investment Philosophy and Recent Portfolio Adjustments
Introduction to Ruane Cunniff (Trades, Portfolio)
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Ruane Cunniff (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into their investment moves during this period. Founded in 1969 by Bill Ruane and Rick Cunniff, the firm operates on the belief that investing in great businesses at reasonable prices can outperform the stock market. By conducting exhaustive primary research and adhering to their principles, Ruane Cunniff (Trades, Portfolio) has built an impressive track record. William Ruane, a Graham-and-Doddsville superinvestor, was recognized by Warren Buffett (Trades, Portfolio) and was a student of Benjamin Graham. The firm focuses on owning quality businesses run by quality people, aiming for long-term growth and value. Their strategy is rooted in paying attractive prices for high-quality, fast-growing businesses, with the goal of achieving higher returns than the S&P 500 Index with less fundamental risk.
Summary of New Buy
Ruane Cunniff (Trades, Portfolio) added a total of six stocks to their portfolio, with the most significant addition being MSA Safety Inc. (NYSE:MSA). The firm acquired 949,067 shares, which account for 2.74% of the portfolio, with a total value of $158.997 million. The second largest addition was Bio-Techne Corp (NASDAQ:TECH), consisting of 152,417 shares, representing approximately 0.14% of the portfolio, with a total value of $7,841,860. The third largest addition was Dollar General Corp (NYSE:DG), with 2,144 shares, accounting for a total value of $245,230.
Key Position Increases
Ruane Cunniff (Trades, Portfolio) also increased stakes in a total of seven stocks. The most notable increase was in Icon PLC (NASDAQ:ICLR), with an additional 453,833 shares, bringing the total to 1,708,183 shares. This adjustment represents a significant 36.18% increase in share count, a 1.14% impact on the current portfolio, and a total value of $248,455,220. The second largest increase was in Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), with an additional 51,388 shares, bringing the total to 1,917,681. This adjustment represents a 2.75% increase in share count, with a total value of $434,335,570.
Summary of Sold Out
Ruane Cunniff (Trades, Portfolio) completely exited one holding in the second quarter of 2025: Builders FirstSource Inc (NYSE:BLDR). The firm sold all 4,700 shares, resulting in a -0.01% impact on the portfolio.
Key Position Reduces
Ruane Cunniff (Trades, Portfolio) also reduced positions in 17 stocks. The most significant changes include a reduction in Meta Platforms Inc (NASDAQ:META) by 113,414 shares, resulting in a -22.2% decrease in shares and a -1.19% impact on the portfolio. The stock traded at an average price of $617.26 during the quarter and has returned 19.31% over the past three months and 34.48% year-to-date. Additionally, the firm reduced its position in Liberty Broadband Corp (NASDAQ:LBRDK) by 494,166 shares, resulting in a -20.73% reduction in shares and a -0.76% impact on the portfolio. The stock traded at an average price of $83.86 during the quarter and has returned -33.63% over the past three months and -14.65% year-to-date.
Portfolio Overview
As of the second quarter of 2025, Ruane Cunniff (Trades, Portfolio)'s portfolio included 44 stocks. The top holdings included 10.37% in Charles Schwab Corp (NYSE:SCHW), 10.1% in Liberty Media Corp (NASDAQ:FWONK), 8.75% in Intercontinental Exchange Inc (NYSE:ICE), 7.76% in Capital One Financial Corp (NYSE:COF), and 7.48% in Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM).
The holdings are mainly concentrated in six of the 11 industries: Financial Services, Communication Services, Healthcare, Technology, Industrials, and Consumer Cyclical.
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.
