Relational Investors Further Reduces Stake In PMC-Sierra Inc (PMCS)

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Another holding that has been significantly reduced in recent weeks by Relational’s management is Magnum Hunter Resources Corp. (NYSE:MHR). Since the fund has issued its latest 13F filing, it has gradually reduced its sake on the Texas-based oil and gas company. Approximately a week ago the fund reported the disposal of 4.7 million Magnum Hunter Resources shares and now holds roughly 13 million shares, less than half the amount reported at the end of the first quarter.

Relational Investors has a well diversified portfolio with an estimated market value of $2.37 billion, as reported in its latest 13F filing. Two major sectors seem to have attracted most of the fund’s interest: consumer (36% of the portfolio) and industrial (31% of the portfolio). It had also invested a significant portion of his capital in healthcare stocks, which account for 18% of the portfolio. Oreo-maker Mondelez International Inc (NASDAQ:MDLZ) is Relational Investors’ top dog, with the fund holding approximately 12.5 million shares. Hologic, Inc. (NASDAQ:HOLX) and Bunge Ltd (NYSE:BG) are another two favorites, with Relational holding 12.9 million and 4.94 million shares respectively. No changes in these positions have been reported in the fund’s latest 13F filing.

Disclosure: none.

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