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   Strategies & Market TrendsKen Heebner and CGM Focus Fund CGMFX


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From: Julius Wong2/18/2009 11:29:00 PM
1 Recommendation   of 37
 
Wednesday, February 18, 2009
Ken Heebner's Fourth Quarter 2008 Moves - CGM Focus (CGMFX) & Others
Posted by TraderMark

Biggest Additions in the Quarter:
1. Metlife (MET) - Insurance
2. Hartford Financial (HIG) - Insurance
3. Apolle Group (APOL) - Adult "re-education"
4. Baxter International (BAX) - Healthcare
5. Aflac (AFL) - Insurance
6. Gilead Sciences (GILD) - Biotech/healthcare
7. Research in Motion (RIMM) - Technology
8. Newmont Mining (NEM) - Precious metals
9. Prudential (PRU) - Insurance
10. Berkshire Hathaway (BRK-A) - Insurance and others

fundmymutualfund.com

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From: Condo5/13/2009 9:53:51 PM
   of 37
 
Heebner’s Trading for CGM Focus Fund Almost Tripled in 2008
By Miles Weiss
May 6 (Bloomberg)
(excerpt)
“What happened in ‘08 was Ken got whipsawed,” said A. Michael Lipper, the managing member of LSF Capital Advisors LLC, a Summit, New Jersey, firm that invests in financial-services companies. “With his very good long-term record, money came in and some of that money was hot money that was very sensitive to short-term performance.”

CGM Focus is the best-performing diversified U.S. stock fund in the 10 years ended March 31, with an average annual return of 16.7 percent, according to Morningstar.

Known as “Bigfoot” for his large movements in and out of stocks, Heebner sold CGM Focus’s stakes in oil and metals companies in the third quarter of 2008, incurring “major losses,” according to the fund’s annual report.

CGM Focus invested in financial-services companies during the quarter, only to get hit with more losses when those stocks slumped. By the end of the year, it held stock in insurers, drugmakers, and metals and mining companies.

Turnover Rate

The fund had a portfolio turnover rate of 504 percent last year, according to the annual report filed with the SEC on Feb. 27.
(continued)

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From: Condo7/19/2009 5:06:19 AM
   of 37
 
CGM Investors Hoping Heebner's Q2 Turnaround Takes Hold
finance.yahoo.com

* On Wednesday July 15, 2009, 11:08 am EDT

Ken Heebner, once one of the top performing fund managers and still one of the most closely watched, continues to face challenges after world-beating numbers in 2007. However, a number of his bets from the start of Q2 have fared well, and CGM investors will be hoping that the performance is just the start of a rebound in Heebner's fortunes.

Year to date, Heebner's flagship CGM Focus Fund (Nasdaq: CGMFX - News) is down by about -10%, while the S&P 500 has put up breakeven performance. According to Morningstar, investors pulled $326 million out of the fund in the first half of the year. The Focus Fund returned a remarkable 80% in 2007, raising his profile with many investors.

CGM's top holdings from the start of Q2 across all of its funds showed Heebner making moves in several sectors, opening new positions in dotcom retailer Amazon.com (Nasdaq: AMZN - News), electronics retailer Best Buy (NYSE: BBY - News), Brazilian oil giant Petrobras (NYSE: PBR - News, PBR-A - News), and bank PNC Financial Services (NYSE: PNC - News).

Even though CGM Focus has had a rough year, Q2 turned out not be all that bad, reversing some of the damage from a poor Q1. The fund returned about 11% during Q2. Looking again at Heebner's holdings, one can see that some of his financial bets - assuming he still holds them - have begun to pay off. Along with PNC, Goldman Sachs (NYSE: GS - News), JPMorgan Chase (NYSE: JPM - News), Morgan Stanley (NYSE: MS - News), and insurer Metlife (NYSE: MET - News) are all among the best performing stocks from his reported holdings at the start of Q2. Heebner has reportedly sold many of the investments he made in the insurance sector beginning late last year, so it's quite possible that he no longer holds shares of Metlife.

Of course, there's no telling if Heebner is still in any of these names, and he is known for making big moves very quickly so there has no doubt been some shuffling among his top holdings over the last few months.

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From: Condo6/1/2010 1:58:06 AM
   of 37
 
Ken Heebner, well-known for his once high-flying CGM Focus Fund (CGMFX), was opening positions in some big-name commodity-oriented stocks during Q1, and making additional moves in other eclectic names as well.

During the quarter, Heebner was making moves in a number of sectors, with a particular focus on commodity-oriented names. Heebner opened new positions in coal producer Alpha Natural Resources (ANR), diversified miner BHP Billiton (BHP), and iron ore producer Cliffs Natural Resources (CLF).

Elsewhere in the commodity segment, Heebner was trimming his stake in miner Freeport-McMoRan (FCX) and holding steady in another mining name, Teck Resources (TCK).

Heebner also opened fresh stakes in airline Delta Air Lines (DAL) and discount retailer TJX Companies (TJX) and added to stakes in consumer electronics giant Apple (AAPL) and heavy equipment maker Cummins (CMI).

Elsewhere, Heebner was trimming stakes in Ford Motor (F), Goldman Sachs Group (GS), and storage and data management firm Western Digital (WDC).

tickerspy.com

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From: Condo6/19/2010 3:39:18 AM
   of 37
 
Heebner’s CGM Slump Continues In 2010
(CGMFX, ANR, BHP, CLF, SCCO, FCX, TCK, AAPL, CMI, F, GS, MS)
tickerspy.com

After lagging its peers in 2008 and 2009, Ken Heebner’s CGM Focus Fund (CGMFX) slipped by another -6.3% this year through June 15. According to data from Morningstar the fund is off by -54% since June 30 2008, compared to an -8.7% loss by the S&P 500. Despite Heebner’s recent slump, Wedgewood Investors president Dennis Marin told Bloomberg, “Over the next three to five years our bet is that we will do well with him.” Meanwhile, fund of funds manager Ronald Sugameli noted that losses since 2008, “don’t indicate Heebner has lost his talent or expertise.”

A look at CGM’s top-15 U.S.-listed equity holdings from across all its funds at the end of the first quarter offers some clues as to how Heebner might return to his past winning ways. Heebner, who is known for a high turnover rate compared to most mutual fund managers, added numerous new bets early in 2010.

Coal miner Alpha Natural Resources (ANR), diversified natural resources firm BHP Billiton (BHP), and iron ore and metallurgical coal play Cliffs Natural Resources (CLF) were among CGM’s new commodity bets at the end of Q1. Meanwhile, Heebner was slightly trimming stakes in Southern Copper (SCCO) and Freeport-McMoRan (FCX) while leaving the fund’s Teck Resources (TCK) bet unchanged from the end of 2009.

Elsewhere in the portfolio, Heebner was upping existing bets on tech giant Apple (AAPL) and heavy-duty diesel engine producer Cummins (CMI) while paring positions in automaker Ford Motor (F) and investment firms Goldman Sachs Group (GS) and Morgan Stanley (MS) during the first quarter.

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From: Condo11/20/2012 11:50:36 AM
   of 37
 
re: Ken Heebner latest trades
..
F, GOOG, PHM, WHR, AN, GPS, SSS, EXR, GM, (and more)

gurufocus.com

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