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   Strategies & Market TrendsKen Heebner and CGM Focus Fund CGMFX

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To: timber555 who wrote (25)1/17/2009 5:38:02 PM
From: Condo
   of 37
Looks like Heebner sold his financials Thursday.

Really!? Judging by the articles Sam Citron has posted here on the thread, whenever Mr. Heebner changes his mind about the market, he moves fast. I wonder what he's buying.

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To: Condo who wrote (26)1/20/2009 4:30:07 PM
From: Sam Citron
   of 37
Yes, looks like he has changed course pretty abruptly. Probably buying gold miners and going short most other sectors.

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To: Sam Citron who wrote (27)1/20/2009 9:38:45 PM
From: Condo
   of 37
Probably buying gold miners...
That would have been timely. NEM was up about 3% today.

...and going short most other sectors.
In CGMFx, of course.
CGMRx fell nearly 5% more than CGMFx today.

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To: Condo who wrote (28)1/21/2009 8:53:22 AM
From: timber555
   of 37
It appears gold and shorts are out of the picture, based on Tuesday's performance.

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To: timber555 who wrote (29)1/21/2009 12:55:05 PM
From: Condo
   of 37
It appears gold and shorts are out of the picture

The Jul...Dec 2008 report comes out around the end of Jan.
But KH changes the portfolio a lot, so by Feb..?

Heebner wanted to leave Loomis largely because other money managers there were piggybacking on his ideas.
Message 24653732

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From: Condo2/1/2009 10:27:08 AM
   of 37
- left-handed fencer -

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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

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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)
“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.

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

* 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 (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
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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).

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