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Bristlecone Value Partners, LLC

12301 WILSHIRE BOULEVARD SUITE 320, LOS ANGELES, CA 90025 • 310-806-4141

Q2 2012 · Filed 2012-08-17
Market Value
$19M
-12.6%
Holdings
26
+3
New Purchases
3
Added To
5
Closed
2
Reduced
16
Top 10 Concentration
61.5%
Turnover
19.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CVX 2.12% 0.00% +2.12% $400K
BAC 3.76% 2.38% +1.37% $709K
BRK-A 1.32% 0.00% +1.32% $250K
XOM 8.05% 6.78% +1.26% $2M
LOW 1.09% 0.00% +1.09% $205K
NRG 5.93% 4.88% +1.05% $1M
PFE 6.96% 6.38% +0.59% $1M
AXP 6.13% 5.65% +0.49% $1M
WFC 8.33% 7.86% +0.47% $2M
AMGN 1.28% 0.94% +0.33% $241K
NSRGY 2.23% 1.93% +0.30% $421K
NVS 3.58% 3.29% +0.29% $676K
CTAS 4.48% 4.20% +0.28% $846K
MKL 5.42% 5.14% +0.28% $1M
WY 2.52% 2.29% +0.23% $475K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EOG 0.00% 6.78% -6.78% $0
HOG 0.00% 2.73% -2.73% $0
CSCO 6.03% 6.88% -0.85% $1M
WMT 1.74% 2.52% -0.79% $328K
PGR 4.67% 4.88% -0.20% $882K
GD 4.97% 5.11% -0.14% $939K
MXIM 2.39% 2.48% -0.09% $452K
CX 4.35% 4.41% -0.06% $821K

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 84.0%
Industrials 3.9%
Consumer Cyclical 3.7%
Consumer Defensive 2.4%
Basic Materials 1.6%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 11 $9M 47.9%
Large Cap 13 $9M 49.7%
Mid Cap 1 $0 0.0%
Micro Cap 1 $452K 2.4%

Portfolio Analytics

Avg Market Cap
$248.7B
Median Market Cap
$134.0B
Avg P/E
28.3
Median P/E
22.4
Avg Dividend Yield
0.02%
Avg Beta
0.81
# Stocks
26
# ETFs / Funds
0

Top Holdings (26 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 WFC 8.33% 47,000 $2M $33.45 -$126K -2,750 -5.5%
2 XOM 8.05% 17,755 $2M $85.55 $54K +864 +5.1%
3 PFE 6.96% 57,120 $1M $23.00 -$63K -3,668 -6.0%
4 AXP 6.13% 19,885 $1M $58.23 -$62K -1,200 -5.7%
5 CSCO 6.03% 66,345 $1M $17.17 -$348K -3,945 -5.6%
6 NRG 5.93% 64,485 $1M $17.35 $65K -2,790 -4.2%
7 MKL 5.42% 2,315 $1M $441.90 -$87K -157 -6.3%
8 VMC 5.03% 23,890 $949K $39.72 -$125K -1,255 -5.0%
9 GD 4.97% 14,235 $939K $65.96 -$165K -814 -5.4%
10 PGR 4.67% 42,332 $882K $20.84 -$171K -3,075 -6.8%
11 INTC 4.57% 32,340 $862K $26.65 -$108K -2,170 -6.3%
12 CTAS 4.48% 21,910 $846K $38.61 -$61K -1,275 -5.5%
13 CX 4.35% 122,016 $821K $6.73 -$132K -779 -0.6%
14 BAC 3.76% 86,698 $709K $8.18 $194K +32,930 +61.2%
15 NVS 3.58% 12,085 $676K $55.94 -$35K -745 -5.8%
16 MSI 3.06% 11,997 $577K $48.10 -$75K -827 -6.5%
17 WY 2.52% 21,261 $475K $22.34 -$19K -1,268 -5.6%
18 MXIM 2.39% 17,640 $452K $25.62 -$84K -1,095 -5.8%
19 NSRGY 2.23% 7,040 $421K $59.80 $4K +410 +6.2%
20 CVX 2.12% 3,788 $400K $105.60 +3,788 NEW
21 WMT 1.74% 11,105 $328K $29.54 -$217K +2,195 +24.6%
22 BRK-A 1.32% 200 $250K $1,250.00 +200 NEW
23 AMGN 1.28% 3,300 $241K $73.03 $37K +300 +10.0%
24 LOW 1.09% 7,200 $205K $28.47 +7,200 NEW
25 EOG —% -$1M -16,891 -100.0% SOLD
26 HOG —% -$589K -12,010 -100.0% SOLD

New Positions

SymbolValue% Port
CVX $400K 2.12%
BRK-A $250K 1.32%
LOW $205K 1.09%

Sold Out Positions

SymbolValue% Port
EOG —%
HOG —%
View SEC EDGAR Filings for Bristlecone Value Partners, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms