Tocqueville Asset Management manage equity, gold and bond portfolios seeking favorable long-term results. The fund, founded by Francois D. Sicart, follows a contrarian view, believing that good long term results are achieved by following a strategy different from the mainstream consensus. The fund identifies undervalued companies to exploit long-term earnings power.
In its latest 13F filings, Tocqueville Asset Management disclosed its equity portfolios as held at the end of the fourth quarter of 2013. In this piece we will focus on Tocqueville Asset Management’s top 5 holdings.
Tocqueville Asset Management’s 13F portfolio had $7.44 billion in securities, down from $8.02 billion reported in the previous 13F.
The first one is The Home Depot, Inc. (NYSE:HD). The fund significantly boosted its position in this stock to 1.63 million shares, from around 64,333 shares as disclosed in the previous 13F filing. The value of the holding is $134.26 million. Ken Fisher’s Fisher Asset Management is the largest shareholder, of all the hedge funds we track.
The next on the list is Exxon Mobil Corporation (NYSE:XOM), in which Tocqueville Asset Management disclosed a $128.38 million stake. The position amasses almost 1.27 million shares, basically flat, in comparison with 1.23 million held as reported in the previous 13F. The value of the current position is $128.38 million. Berkshire Hathaway, managed by Warren Buffett, initiated a stake in Exxon Mobil in the third quarter and is now the largest shareholder of all the hedge funds we track.
In Google Inc (NASDAQ:GOOG), Tocqueville Asset Management, disclosed the third-largest holding. The position is 95,723 shares with a reported value of $107.28 million. The position has been increased slightly from 94,266 shares. The value of the position, surged significantly to $107.28 million. This week, billionaire Eric Schmidt, director at Google Inc (NASDAQ:GOOG), has been seen selling shares, and now holds 183,428 shares of the company. Paul Ruddock and Steve Heinz’s Lansdowne Partners, has 9.67% of its equity portfolio invested in Google and is the largest shareholder amongst the hedge fund we track.
General Electric Company (NYSE:GE) is represented in the Tocqueville’s equity portfolio by a $106.33 million stake, which contain 10.17 million shares 3.79 million shares. The fund has edged down its position from 4.06 million shares, as revealed in 13F in the previous quarter. A couple of weeks ago James Rohr, director at General Electric Company (NYSE:GE), purchased 10,000 shares of Common Stock for approximately $300,000.
Apple Inc. (NASDAQ:AAPL) comes in as the fifth most valuable holding in the Tocqueville’s equity portfolio. The fund has been bullish on the stock, raising it to 179,988 shares, versus 167,271 owned previously. The value of the stake currently amounts to $100.98 million. Other prominent investors worth mentioning are Carl Icahn, a large bull, who initiated a position in the third quarter and now holds 3.88 million shares. Icahn also tweeted this week that he put another $500 million in the stock.