Richard T. Cunniff – Sequoia Q4/2011 Fund Investing Strategies By Dividend Yield – Stock Capital, Investment. Here is a current portfolio update of Richard T. Cunniff’s - Sequoia - portfolio movements as of Q4/2011 (December 31, 2011). In total, he has 37 stocks with a total portfolio worth of USD 3,651,210,000.
Strategy:
The Fund's investment objective is long-term growth of capital. In pursuing this objective, the fund focuses principally on common stocks that it believes are undervalued at the time of purchase and have potential for growth. A guiding principle is the consideration of common stocks as units of ownership of a business and the purchase of them when the price appears low in relation to the value of the total enterprise. No weight is given to technical stock market studies. The balance sheet and earnings history and prospects of each investment are extensively studied to appraise fundamental value.
Richard T. Cunniff’s fund positions as of Q4/2011 with actual share movements:
| Sym - Stock | Portfolio Weight | Recent activity | Reported Price* |
| VRX - Valeant Pharmaceuticals Int'l | 14.48 | 0 | $46.69 |
| BRK.A - Berkshire Hathaway CL A | 10.33 | Add 0.12% | $114754.87 |
| TJX - TJX Companies Inc. | 9.08 | 0 | $32.28 |
| FAST - Fastenal | 8.3 | 0 | $43.61 |
| AAP - Advance Auto Parts | 4.77 | 0 | $69.63 |
| IDXX - IDEXX Laboratories | 4.43 | Reduce 4.53% | $76.96 |
| MHK - Mohawk Industries | 4.36 | 0 | $59.85 |
| PCP - Precision Castparts | 4.28 | 0 | $164.79 |
| RYCEF - Rolls-Royce GP Plc | 3.93 | 0 | $11.59 |
| ORLY - O'Reilly Automotive | 3.63 | 0 | $79.95 |
| BRK.B - Berkshire Hathaway CL B | 3.1 | Add 27.01% | $76.30 |
| MA - Mastercard Inc. | 3.05 | 0 | $372.82 |
| GOOG - Google Inc. | 2.87 | 0 | $645.90 |
| IBM - International Bus. Machines | 2.4 | 0 | $183.88 |
| TGT - Target Corp. | 2.06 | 0 | $51.22 |
| PX - Praxair Inc. | 2.02 | Add 50.79% | $106.90 |
| INT - World Fuel Services | 1.84 | Buy | $41.98 |
| WMT - Wal-Mart Stores | 1.55 | 0 | $59.76 |
| PRGO - Perrigo Co. | 1.41 | 0 | $97.30 |
| QNTQF - Qinetiq Group Plc. | 1.31 | 0 | $2.06 |
| COIHF - Croda International | 1.18 | Buy | $28.02 |
| OMC - Omnicom Group | 1.14 | 0 | $44.58 |
| GS - Goldman Sachs Group | 1.08 | 0 | $90.43 |
| GLW - Corning Inc. | 1.07 | 0 | $12.98 |
| HCXLF - Hiscox Ltd. | 0.99 | 0 | $5.80 |
| DHR - Danaher Corp. | 0.99 | 0 | $47.04 |
| RBA - Ritchie Bros. Auctioneers Inc. | 0.92 | 0 | $22.08 |
| BDX - Becton Dickinson | 0.86 | 0 | $74.72 |
| TRMB - Trimble Navigation Ltd. | 0.76 | Add 34.87% | $43.40 |
| BRO - Brown & Brown Inc. | 0.7 | 0 | $22.63 |
| FSLR - First Solar Inc. | 0.32 | 0 | $33.76 |
| EXPD - Expeditors Int'l | 0.29 | 0 | $40.96 |
| CNQ - Canadian Natural Resources | 0.18 | 0 | $37.37 |
| SMTGF - SMA Solar Technology AG | 0.15 | Reduce 10.02% | $55.85 |
| COST - Costco Co. | 0.09 | 0 | $83.32 |
| MTD - Mettler-Toledo International Inc. | 0.08 | 0 | $147.71 |
| VRSK - Verisk Analytics Inc. | 0.02 | 0 | $40.14 |
Related Stock Ticker:
VRX, BRK.A, TJX, FAST, IDXX, PCP, AAP, RYCEF, MHK, ORLY, MA, GOOG, IBM, BRK.B, THT, PRGO, WMT, PX, QNTQF, GS, GLW, HCXLF, OMC, DHR, BDX, RBA, FSLR, BRO, TRMB, EXPD, SMTGF, CNQ, COST, MTD, VRSK, INT, COIHF