Courtesy of VInvesting comes this article about David Winters, who left Franklin Mutual Series to found his own firm Wintergreen Advisors:
David J. Winters says he wants his associates
at Wintergreen Advisers in Mountain Lakes to be so content that they
"tap-dance to work." (He credits Warren Buffett with that remark,
describing how much fun he has.) And these days, it's very clear, Winters is tap-dancing to work. His
new fund, Wintergreen (WGRNX), started last October, is up slightly
more than 9 percent -- about what the market has done but with far less
risk. (Wintergreen has 25 percent of its $900 million in assets in
cash.) The article reports that, as of June 30, the Wintergreen Fund had 26.8% of its assets in the US, 12.1% in Hong Kong, 7.8% in the UK, 7.5% in Japan and 6% in
Switzerland. It had smaller portfolio holdings in Canada, Germany, Malaysia, South Korea, Denmark, Mexico and Sweden. The fund's top 10 holdings: Consolidated-Tomoko Land (7.9%)
Japan
Tobacco (7.5%)
Jardine Matheson Holdings (5.3%)
Weyerhaeser Co. (3.9%)
Reynolds American (3.9%)
Imperial Tobacco Group (3.8%)
HSBC Holdings (3.7%)
Henkel (2.9%)
Anglo American (2.7%)
Swatch Group
(2.6%)
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