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Ken Heebner's Top Stock Picks
Posted February 22, 2012
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Ken Heebner
By Meena Krishnamsetty
Ken Heebner is the founder and chairman of Capital Growth Management, a Boston-based investment firm. Prior to launching CGM in 1990, Heebner worked at the mutual funds management group at Loomis, Sayles & Company. Heebner's performance was stunning before the financial crisis in 2008. He beat the market by six consecutive years from 2000 to 2005. He slightly underperformed the market in 2006, but he outperformed the market again in 2007 by returning an astonishing 80%. However, he lost 48% in 2008. In the following two years, he returned 10.5% and 16% respectively, not enough to cover his losses. Over the past year, CGM Focus Fund lost more than 20%.
It seems that Heebner's performance was unremarkable during recent years. Is he still worth imitating? Let's take a closer look at his latest top stock picks and decide.
United Continental Holdings Inc (UAL): The largest position in Heebner's latest 13F portfolio is UAL. Heebner boosted his UAL stake by 15% over the fourth quarter. As of December 31, 2011, his fund reported owning $175 million worth of UAL shares. UAL is quite popular among hedge funds tracked by us. There were 33 hedge funds with UAL positions at the end of the third quarter. Besides Heebner, Bill Miller and David Tepper were also bullish about UAL. Miller's Legg Mason Capital Management had $129 million invested in UAL and Tepper's Appaloosa Management LP had $78 million invested in the stock. READ FULL ARTICLE HERE
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