Relational Investors Builds New Stakes In PMC-Sierra (PMCS), Assurant (AIZ); Cashes In On Takeovers

August 15, 2011 12:56 PM EDT
Ralph Whitworth and David Batchelder's Relational Investors LLC investment fund released its latest 13F filing for the quarter ended June 30, 2011.

The fund aggressively built its stake in PMC - Sierra, Inc. (NASDAQ: PMCS), a stock it had confidential treatment with the SEC that has since expired. Shares were originally owned in Q1, but this stake was not disclsoed until 8/12 when the confidential treatment expired. They have since built their stake in the company.

Assurant, Inc. (NYSE: AIZ) is another stock the fund has been building a stake in and had confidential treatment with the SEC that has since expired.

Relational also raised their stake in EA (Nasdaq: ERTS) sharply.

Two of the company's stocks were sold in takeovers in the quarter: GENZYME (NASDAQ: GENZ) and National Semiconductor Corp. (NYSE: NSM).

New Stakes
Wright Medical Group, Inc. (NASDAQ: WMGI) new 1,920,300 share position

Raised Stakes
Ashland, Inc. (NYSE: ASH) raised from 621,600 shares to 890,226 shares
Assurant, Inc. (NYSE: AIZ) raised from 500,100 shares to 1,288,214 shares
Electronic Arts, Inc. (NASDAQ: ERTS) raised from 4,904,216 shares to 12,404,216 shares
Harman International Industries, Inc. (NYSE: HAR) raised from 2,048,479 shares to 2,320,579 shares
McDermott International, Inc. (NYSE: MDR) raised from 2,218,493 shares to 4,506,633 shares
MetLife, Inc. (NYSE: MET) raised from 2,150,100 shares to 11,594,400 shares
Occidental Petroleum Corp. (NYSE: OXY) raised from 6,136,179 shares to 6,627,731 shares
Plains Exploration & Production Co. (NYSE: PXP) raised from 2,750,100 shares to 5,730,230 shares
PMC - Sierra, Inc. (NASDAQ: PMCS) raised from 2,500,500 shares to 6,521,114 shares
Babcock & Wilcox Co. (NYSE: BWC) raised from 1,886,075 shares to 3,259,179 shares
Unum Group (NYSE: UNM) raised from 14,366,696 shares to 15,072,257 shares
Zimmer Holdings, Inc. (NYSE: ZMH) raised from 1,850,100 shares to 3,350,100 shares

Lowered Stakes
Baxter International, Inc. (NYSE: BAX) lowered from 5,299,457 shares to 5,123,314 shares
CVS Caremark (NYSE: CVS) lowered from 20,166,972 shares to 19,724,972 shares
Esterline Technologies Corp. (NYSE: ESL) lowered from 958,749 shares to 825,749 shares
Intuit, Inc. (NASDAQ: INTU) lowered from 11,938,868 shares to 11,125,805 shares
iShares Trust Russell MidCap Index Fund (NYSE: IWR) lowered from 1,705,600 shares to 715,800 shares
LyondellBasell Industries Cl A (NYSE: LYB) lowered from 8,525,200 shares to 8,523,365 shares
S&P DEP RECEIPTS (NYSE: SPY) lowered from 3,079,295 shares to 2,595,195 shares
Home Depot, Inc. (NYSE: HD) lowered from 11,493,765 shares to 11,461,744 shares

Liquidated Stakes
Arris Group, Inc. (NASDAQ: ARRS) liquidated
Charles River Laboratories International, Inc. (NYSE: CRL) liquidated
Deere & Company (NYSE: DE) liquidated
GENZYME (NASDAQ: GENZ) liquidated (Company SOLD)
Gildan Activewear Inc. Cl A Sub Vtg Shrs (NYSE: GIL) liquidated
National Semiconductor Corp. (NYSE: NSM) liquidated (Company Agreed to Be Acquired)

Maintained Stakes
Ameriprise Financial (NYSE: AMP) maintained 1,057,600 share stake
Applied Materials, Inc. (NASDAQ: AMAT) maintained 10,900,300 share stake
L-3 Communications Holdings, Inc. (NYSE: LLL) maintained 6,347,694 share stake

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Related Categories

13Fs, Hedge Funds

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Relational Investors LLC, Ralph V. Whitworth, Standard & Poor's

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