Liberty Media Corp (LMCA), CBS Corporation (CBS): Hedge Fund Gruss Asset Management’s 5 Largest Equity Holdings

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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.

The original 13F can be found here, and it’s important to note that various empirical studies show that retail investors can benefit from watching hedge fund sentiment; see the details of this strategy revealed.

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) Mediahas 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) saw the 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.

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