Hawkins Capital Slashes Its Top Long-Term Picks Amid First Quarter Struggles

The third spot on the list of long term picks is taken by Intel Corporation (NASDAQ:INTC), which has depreciated by 11.13% this year despite the solid performance of the technology sector, which gained 9.77% during the same time period. Hawkins Capital sliced its holding in Intel Corporation (NASDAQ:INTC) by 25% in the first quarter to reduce the total stake to 2.21 million shares valued at $69.01 million. The $155.08 billion technology company delivered an EPS for the first quarter which was in line with the estimates, however revenues fell short of expectations. Despite that, some analysts are bullish on the company and cite that positive changes are taking place, which can be seen through the diversification of Intel Corporation (NASDAQ:INTC)’s revenue stream. Data center, Internet of Things and memory contributed almost 40% to the company’s top line. Ken Fisher’s Fisher Asset Management held some 19.16 million shares of Intel Corporation (NASDAQ:INTC) valued at $599.25 million at the end of the first quarter.

Lastly, Hawkins also slashed his Staples, Inc. (NASDAQ:SPLS) holding by 26% to 2.56 million shares valued at $41.61 million. Depreciating by 9.11% year-to-date, Staples, Inc. (NASDAQ:SPLS) further dragged Hawkins Capital’s returns down in the first quarter. The $10.67 billion office products company has been in the fund’s portfolio since the second quarter of 2012. Besides Hawkins, other investors who hold Staples, Inc. (NASDAQ:SPLS) in their fund’s portfolio are Jeffrey Smith and Ken Griffin.

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