Five Below Inc (FIVE), Dollar General Corp. (DG) and Express, Inc. (EXPR): Buckingham Capital Management’s Top 3 Fresh Picks
The equity portfolio of Buckingham Capital Management Inc increased to $1.15 billion in 1Q2015 from $1.13 billion in 4Q2014. The fund was fairly active in 1Q, starting fresh positions in some stocks and selling out of others. The reforms ran even deeper as Buckingham also reduced holding in a total of 37 stocks and added stake in 40 other stocks in the latest quarter.
In terms of industries, Buckingham has its largest interest in Consumer Discretionary, which account for 60% of the portfolio. The fund also has substantial exposure to Technology, Healthcare and Finance among other sectors.
Here is a brief look at the fund’s top-three largest fresh positions during 1Q2015 in terms of dollar value.
Best 3 fresh stakes
Buckingham Capital Management started a position of 553,855 shares in Five Below Inc (NASDAQ:FIVE) during 1Q. The stake in the company was valued at $19.7 million at the end of the quarter.
The fund was bullish in Dollar General Corp. (NYSE:DG) during 1Q, starting a fresh position of 200,000 shares in the retailer during the quarter. The stake was worth more than $15 million at the end of 1Q.
Buckingham Capital Management deemed it wise to launch a fresh position in Express, Inc. (NYSE:EXPR) during 1Q. The fund acquired 785,000 shares in the company with the stake being valued at $12.98 million at the end of the quarter.
Meanwhile, Buckingham Capital Management cleaned up its portfolio mix during 1Q, dropping a total of 17 stocks during the quarter. Williams-Sonoma, Inc. (NYSE:WSM) and Lululemon Athletica inc. (NASDAQ:LULU) bore the brunt of the purge. The fund previously held 206,220 shares and 182,100 shares in Williams-Sonoma and Lululemon Athletica, respectively, at the end of 4Q2014.
Overall largest picks
Overall, Buckingham Capital Management has its best bet in G-III Apparel Group, Ltd. (NASDAQ:GIII), Supervalu Inc. (NYSE:SVU) and Foot Locker, Inc. (NYSE:FL). The fund reduced exposure to G-III Apparel Group and Foot Locker but increased holding in Supervalu during 1Q.
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