Every quarter, mutual fund managers publicly disclose their quarter-end holdings. Today, let's take a look at Keeley Asset Management and see what moves fund manager John Keeley has made lately.
Meet Keeley Asset Management
John Keeley is the president and chief investment officer of Keeley Asset Management. Keeley Funds is a bottom-up, value-driven shop that focuses mostly on small- and mid-cap value stocks. The total market value of Keeley Asset Management's disclosed equity holdings as of March 31, 2011 -- the latest quarter for which data is available -- was $6.5 billion across 402 holdings.
The fund's 10 largest positions (by value) and associated changes as of March 31 were:
-- reduced 7.7% (NYSE: WAB)
Chicago Bridge & Iron
-- reduced 10.6% (NYSE: CBI)
-- reduced 11.9% (NYSE: WXS)
Kansas City Southern
-- reduced 21.6% (NYSE: KSU)
-- reduced 26.6% (NYSE: WLT)
-- reduced 1.4% (NYSE: TRN)
Genesee & Wyoming
-- reduced 10.4% (NYSE: GWR)
-- reduced 9.5% (NYSE: AYI)
-- reduced 5.2% (NYSE: WYN)
-- reduced 5.4% (NYSE: MDR)
These top 10 holdings account for about 12% of the total portfolio. Next, let's look at a few highlights outside the top 10 holdings:
- Rising Positions: The fund increased its positions in Chemtura and Bancorpsouth.
- Falling Positions: Keeley reduced its exposure to MB Financial and Bemis Company.
- Eliminated Positions: During the quarter, the fund sold out of stock positions in AK Steel Holding and GS Financial, among others.
Selected Q1 2011 commentary
Keeley Asset Management has about a third of its assets in industrial stocks, with financials and materials stocks being the next two biggest sectors. Here's where the firm is winning and making new bets, at the moment:
- Current winner: Trinity Industries did well, increasing 38% in the first quarter of the present year. The stock comprises about 1% of the total portfolio.
- New bets: Among new additions, Penske Automotive Group and Capitol Federal Financial comprise about 0.6% and 0.4% of the total portfolio, respectively.
So there you have it -- a quick snapshot of Keeley Asset Management's latest moves. Tell us what you think in the comments section below.
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