Insights into the Investment Shifts of Ruane Cunniff (Trades, Portfolio) for Q3 2024
Ruane Cunniff (Trades, Portfolio), a firm established in 1969 by Bill Ruane and Rick Cunniff, continues to make strategic investment moves based on their philosophy of owning and holding quality businesses. The firm's latest 13F filing for the third quarter of 2024 reveals significant adjustments in their portfolio, including new buys, increased positions, complete exits, and notable reductions. Known for their methodical investment approach influenced by Benjamin Graham, Ruane Cunniff (Trades, Portfolio) focuses on long-term value creation, emphasizing investments in superior businesses at reasonable prices.
Summary of New Buys
Ruane Cunniff (Trades, Portfolio)'s portfolio welcomed two new stocks in this quarter:
- Amentum Holdings Inc (AMTM, Financial) emerged as a significant addition with 2,530,489 shares, making up 1.28% of the portfolio, valued at $81.61 million.
- The Vanguard Total Stock Market ETF (VTI, Financial) was also added with 1,065 shares, valued at approximately $301,570.
Key Position Increases
The firm increased its stakes in five stocks, with notable increments in:
- Charter Communications Inc (CHTR, Financial), where 797 additional shares brought the total to 455,023 shares, marking a 0.18% increase in share count and a portfolio impact of 0%.
- Lithia Motors Inc (LAD, Financial) saw an increase of 4 shares, bringing the total to 2,728 shares, representing a 0.15% increase in share count.
Summary of Sold Out Positions
Ruane Cunniff (Trades, Portfolio) exited two holdings entirely:
- Mohawk Industries Inc (MHK, Financial) was completely sold off with 10,790 shares, impacting the portfolio by -0.02%.
- All 450 shares of The Goldman Sachs Group Inc (GS, Financial) were liquidated, having a negligible impact on the portfolio.
Key Position Reductions
The firm reduced its positions in 22 stocks, with significant cuts in:
- CarMax Inc (KMX, Financial), where 1,971,953 shares were sold off, resulting in a 51.93% decrease in shares and a -2.25% impact on the portfolio. The stock traded at an average price of $79.07 during the quarter.
- Charles Schwab Corp (SCHW, Financial) saw a reduction of 334,771 shares, a -4.3% decrease, impacting the portfolio by -0.38%.
Portfolio Overview
As of the third quarter of 2024, Ruane Cunniff (Trades, Portfolio)'s portfolio comprised 37 stocks. The top holdings included 12.6% in Intercontinental Exchange Inc (ICE, Financial), 8.84% in UnitedHealth Group Inc (UNH, Financial), 8.17% in Elevance Health Inc (ELV, Financial), 7.89% in Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial), and 7.55% in Charles Schwab Corp (SCHW). The investments are primarily concentrated across seven industries, including Financial Services, Communication Services, Healthcare, Technology, Industrials, Consumer Cyclical, and Consumer Defensive.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
