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


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August 15, 2011 12:56 PM EDT Send to a Friend
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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

Related Entities

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

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