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Insight into the Investment Shifts of Bruce & Co

Robert Bruce (Trades, Portfolio), the seasoned investor behind Bruce & Co, has made notable adjustments to his investment portfolio in the third quarter of 2024, as revealed in the latest 13F filing. Bruce & Co, which advises the Bruce Fund (BRUFX), is known for its focus on common stocks, high-yield and distressed debt, with occasional investments in long-term U.S. government securities. The firm, led by Robert Bruce (Trades, Portfolio) and his son, Robert Jeffrey Bruce, primarily targets small- and mid-cap stocks but does not shy away from large-cap, convertible, and distressed bonds. Their investment philosophy centers on acquiring distressed companies at a discount, aiming for a significant turnaround.

• Warning! GuruFocus has detected 7 Warning Signs with UHAL.B.

Summary of New Buys

During this quarter, Robert Bruce (Trades, Portfolio) introduced a new position in his portfolio:

• The standout addition was AerCap Holdings NV (NYSE:AER), with 80,000 shares, representing 2.21% of the portfolio, valued at $7.58 million.

Key Position Increases

Robert Bruce (Trades, Portfolio) also strategically increased his stakes in several companies:

• Archer-Daniels Midland Co (NYSE:ADM) saw an addition of 50,000 shares, doubling the previous amount to 100,000 shares. This adjustment had a 0.88% impact on the current portfolio, with a total value of $5.97 million.

• Bunge Global SA (NYSE:BG) experienced a 60% increase in shares, with an additional 30,000 shares bringing the total to 80,000, valued at $7.73 million.

Key Position Reductions

Conversely, reductions were made in several holdings:

• AbbVie Inc (NYSE:ABBV) was reduced by 15,000 shares, a 9.29% decrease, impacting the portfolio by -0.86%. The stock traded at an average price of $186.63 during the quarter and has seen a -11.39% return over the past three months, with a 13.48% gain year-to-date.

• U-Haul Holding Co (NYSE:UHAL.B) saw a reduction of 35,400 shares, a 6.52% decrease, impacting the portfolio by -0.71%. The stock traded at an average price of $64.99 during the quarter, with a -0.99% return over the past three months and a -10.91% decline year-to-date.

Portfolio Overview

As of the third quarter of 2024, Robert Bruce (Trades, Portfolio)'s portfolio comprised 39 stocks. The top holdings included 10.64% in U-Haul Holding Co (NYSE:UHAL.B), 8.42% in AbbVie Inc (NYSE:ABBV), 8.2% in NextEra Energy Inc (NYSE:NEE), 7.21% in Allstate Corp (NYSE:ALL), and 7.09% in Merck & Co Inc (NYSE:MRK). The investments are predominantly concentrated in eight industries: Healthcare, Utilities, Industrials, Financial Services, Communication Services, Consumer Defensive, Technology, and Basic Materials.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.