Focus Media Holding Limited (ADR) (FMCN), Liberty Media Corp (LMCA): Gruss Asset Management’s 5 Biggest Bets

Editor’s Note: Related tickers: Liberty Media Corp (NASDAQ:LMCA), CBS Corporation (NYSE:CBS), BP plc (ADR) (NYSE:BP), General Dynamics Corporation (NYSE:GD), Focus Media Holding Limited (ADR) (NASDAQ:FMCN)

Gruss Asset Management is a financial investment advisory firm headquartered in New York with an estimated $2.44 billion of assets under management. It is managed by Howard Guberman. The fund recently filed its 13F with the SEC, describing some of its main investments during 2013’s first quarter. A quick look at the top five equity positions of this new hedge fund might be a good starting point for your own research.

Liberty Media Corp

Number one

According to the 13F, the fund’s biggest equity stake was in Liberty Media Corp (NASDAQ:LMCA). By comparison with the prior quarter, the number of shares owned by the fund fell by 400,000 to 650,000, with the total value of the holding falling by 40.43% to $72.560 million. Liberty Media Corp (NASDAQ:LMCA) has a trailing EPS of $11.79, and it sports the third lowest trailing P/E ratio within its industry at 10.40,though a forward PE of 48.26 indicates possible overvaluation. Year-over-year revenues increased by 79.30% in its latest quarterly report, while the company’s profit margin was 70.64%, second highest in theTV broadcasting industry.

The best of the rest

Gruss Asset Management maintained its position in CBS Corporation (NYSE:CBS), with 1,500,000 shares worth $69.495 million held at the end of first quarter, as stated in the 13F. The value of the holdingrose by 22% during the quarter. CBS Corporation (NYSE:CBS) currently trades at a P/E ratio of 19.25, and the company’s trailing diluted EPS is spotted at $2.54. CBS Corporation (NYSE:CBS)’s profit margin is a moderate 11.54%, while current-quarter earningshave increased by 22.00%.The stock pays a forward dividend rate of $0.40 at a yield of 1.20%.

A newcomer, energy behemoth BP plc (ADR) (NYSE:BP) sawthe fund report a position of 1,500,000 shares worth $63.525 million as of March 31. This company’s stock trades at the lowest trailing P/E ratio (6.15) in the major integrated oil & gasindustry. The stock’s forward P/E ratio is also below industry norms. With the fourth-highest dividend yield (5.02%) in its industry, BP plc (ADR) (NYSE:BP) is recommended as a Hold by seven analysts, a Buy by four analysts, and a Strong Buy by another three.

Next is General Dynamics Corporation (NYSE:GD), withGruss Asset Management holding 451,267 shares at the end of the first quarter, down by 148,733 units when compared withone quarterearlier. The value of the position fell by 23.44% to $31.819 million. General Dynamics Corporation (NYSE:GD) pays the fourth highest dividend yield in the industry at 2.98%, and it trades at a moderately attractive forward P/E of 10.65. Analysts have a mean recommendation of 2.2 for the stock.

Thistop five list closes with Focus Media Holding Limited (ADR) (NASDAQ:FMCN), with a bigincreaseduring the first quarter. The fund’s stake in Focus Media Holding Limited (ADR) (NASDAQ:FMCN) increased by 439,331 shares to 1,154,331in Q1, with the value rising by 68.55%. Focus Media Holding Limited (ADR) (NASDAQ:FMCN) shares sport a trailing EPS of $4.09 and a trailing P/E ratio of 6.66, the lowest in its industry.The stock also pays a dividend yield of 1.69%, and analysts have a mean recommendation of 2.3 on the stock.

Disclosure: none