Columbus Circle Investors’ Top 5 New Positions

It its latest round of 13F filings, Columbus Circle Investors has revealed several new positions that are worth taking a look at. The fund’s top positions have not registered significant changes, as its manager, Donald Chiboucis, is still fond of Apple Inc.(NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL), with Starbucks Corporation (NASDAQ:SBUX) and Nike Inc (NYSE:NKE) also among his top stock picks. We will take a look at Chiboucis top five new positions added to his equity portfolio during the first quarter of 2014.

Constellation Brands, Inc. (NYSE:STZ)

First up is Royal Caribbean Cruises Ltd. (NYSE:RCL) a cruise company with a worldwide presence. Columbus Circle reported ownership of 1.72 million shares valued at $94.3 million. Ken Griffin also has a considerable stake: 1.21 million shares reported in the latest 13F. The company has a market cap of $11.5 billion and pays an annual dividend of $0.87, which represents a yield of 1.7%. The stock is traded at a trailing Price to Earnings (P/E) ratio of around 24.00, which is significantly lower than the industry average of 191.10. So far this year, the stock has gained 10% to a current price of $51.92 per share. Royal Caribbean Cruises reported $1.85 billion in revenues and earnings of $0.23 per share for the 2013 fourth quarter.

Chiboucis’ second biggest addition is Constellation Brands, Inc. (NYSE:STZ), a marketer of imported beer in the United States. He has acquired 1.1 million shares, which are worth approximately $93.5 million, according to the fund’s latest 13F filing. Andreas Halvorsen is also betting big on this stock, with his fund, Viking Global, holding 5.48 million shares as at the end of last year. The company has a market cap of $14.9 billion and does not pay a dividend. For the three months ending February 28, 2014, Constellation Brands announced revenues of $1.29 billion and earnings of $0.73 per share. The subsequent quarter is expected to bring $1.48 billion in revenues and earnings per share of $0.92.

Brinker International, Inc. (NYSE:EAT) is another stock Chiboucis and Columbus are betting big on, having built a position which amasses 1.7 million shares valued at $89.7 million. Jim Simons has, on the other hand, reduced his fund’s exposure to this stock during the fourth quarter of last year. Brinker International develops and operates dining restaurants in the United States, has a market cap of $3.27 billion and pays an annual dividend of $0.92, equivalent to a yield of 1.9%. So far this year, the stock has advanced 7% and currently trades at a trailing P/E ratio of 20.xx. The company posted revenues of $758 million and earnings of $0.84 per share for the 13 weeks ending March 26, 2014.

Next up is United Continental Holdings Inc (NYSE:UAL), the owner of United Air Lines, Inc. and Continental Airlines, Inc. Columbus reported ownership of 1.71 million shares valued at $76.4 million in its latest 13F filing. Bill Miller of Legg Mason Capital Management is also keeping tabs, as his fund owns approximately 2.4 million shares. The company registered revenues of $9.32 billion and earnings per share of $0.65 in the fourth quarter of 2013. The stock is traded at a trailing P/E ratio of 26.xx, with the forward P/E ratio of 7.20 suggesting market participants expect the company to capitalize on its earnings potential.

Last but not least is Signet Jewelers Ltd. (NYSE:SIG), a company that engages in the retail of retail sale of jewelry and watches. Chiboucis has bought 705,950 shares reportedly worth $74.7 million, which makes it the fifth largest addition to the portfolio. The company has a market cap of $7.98 billion and pays an annual dividend of $0.60, which represents a yield of 0.6%. So far this year, the stock has advanced 26% to a current price of $99.39 per share and a trailing P/E ratio of 21.xx. For the 13 weeks ending February 1, 2014, Signet Jewelers posted $1.56 billion in revenues and earnings per share of $2.18. Analysts expect the company to announce revenues of $1.07 billion and earnings of $1.27 per share for the subsequent quarter.

Disclosure: none.

Recommended reading:

Hedge Fund Investor Letters

Apple Inc. (AAPL) & Google Inc (GOOG) Are Among Largest Holdings in Columbus Circle Investors’ Latest 13F

Ken Fisher & Fisher Asset Management’s Biggest Moves from the Latest 13F

Greenlight Capital 2014 Q1 Investor Letter

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