Insights from the Latest 13F Filing Highlight Key Stock Movements
Investment guru Robert Bruce (Trades, Portfolio), the founder of Bruce & Co and advisor to the Bruce Fund (BRUFX), has made significant changes to his investment portfolio in the fourth quarter of 2023. Known for his value investing approach, Bruce and his son, Robert Jeffrey Bruce, manage the Fund with a focus on common stocks, high-yield and distressed debt, and occasionally long-term U.S. government securities. The Fund's strategy leans towards small- and mid-cap stocks, convertible and distressed bonds, and long-term holdings in distressed companies poised for a turnaround.
Key Position Increases
During the quarter, Robert Bruce (Trades, Portfolio) increased his stakes in three stocks. Notably:
- Darling Ingredients Inc (DAR, Financial) saw an addition of 70,000 shares, doubling the previous count to 140,000 shares. This 100% increase in share count had a 1.24% impact on the current portfolio, with a total value of $6,977,600.
- Vicor Corp (VICR, Financial) also experienced a boost with an additional 10,000 shares, bringing the total to 30,000. This 50% increase in share count resulted in a total value of $1,348,200.
Key Position Reduces
Conversely, Robert Bruce (Trades, Portfolio) reduced positions in 15 stocks, with the most significant changes being:
- A reduction in Pfizer Inc (PFE, Financial) by 251,000 shares, leading to a 48.32% decrease in shares and a 2.99% impact on the portfolio. The stock traded at an average price of $30.23 during the quarter and has seen a return of -5.16% over the past three months and -2.88% year-to-date.
- AbbVie Inc (ABBV, Financial) shares were cut by 25,000, a 15.34% reduction, affecting the portfolio by 1.34%. The stock's average trading price was $145.79 for the quarter, with a return of 25.87% over the past three months and 12.56% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Robert Bruce (Trades, Portfolio)'s portfolio comprised 35 stocks. The top holdings included 13.39% in U-Haul Holding Co (UHAL.B, Financial), 8.53% in Merck & Co Inc (MRK, Financial), 7.58% in AbbVie Inc (ABBV), 7.01% in Duke Energy Corp (DUK, Financial), and 6.52% in Xcel Energy Inc (XEL, Financial). The investments are primarily concentrated across eight industries: Healthcare, Utilities, Industrials, Communication Services, Financial Services, Technology, Consumer Defensive, and Basic Materials.
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.
