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David Carlson Exits Medtronic, Trims Apple Holding

David Carlson ( Trades , Portfolio ), manager of the Elfun Trusts, sold shares of the following stocks in the second quarter.

The guru exited his Medtronic PLC (NYSE:MDT) stake. The trade had an impact of -0.83% on the portfolio.

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The manufacturer of therapeutic medical devices has a market cap of $137.24 billion and an enterprise value of $152.84 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 9.24% and return on assets of 5.17% are underperforming 56% of companies in the Medical Devices industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.39 is below the industry median of 2.19.

The largest guru shareholder of the company is Barrow, Hanley, Mewhinney & Strauss with 0.99% of outstanding shares, followed by the Vanguard Health Care Fund ( Trades , Portfolio ) with 0.73% and Pioneer Investments ( Trades , Portfolio) with 0.54%.

Carlson curbed his PepsiCo Inc. (NASDAQ:PEP) holding by 16.48%. The portfolio was impacted by -0.70%.

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The manufacturer of soft drinks and other nonalcoholic beverages has a market cap of $178.85 billion and an enterprise value of $206.54 billion.


GuruFocus gave the company a profitability and growth rating of 7 out of 10. The return on equity of 101.48% and return on assets of 16.82% are outperforming 88% of companies in the Beverages - Non-Alcoholic industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.12 is below the industry median of 0.46.

The largest guru shareholder of the company is Pioneer Investments (Trades, Portfolio) with 0.63% of outstanding shares, followed by Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.51% and Yacktman Asset Management (Trades, Portfolio) with 0.48%.

The investor curbed his Apple Inc. (NASDAQ:AAPL) position by 18%. The portfolio was impacted by -0.65%.

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The company, which makes electronic devices like iPhones and Mac computers, has a market cap of $922 billion and an enterprise value of $935.81 billion.


GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 51.35% and return on assets of 15.89% are outperforming 92% of companies in the Computer Hardware industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.87 is below the industry median of 1.19.

The company's largest guru shareholder is Warren Buffett (Trades, Portfolio) with 5.42% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.30%, Pioneer Investments with 0.22% and Spiros Segalas (Trades, Portfolio) with 0.10%.

The guru reduced his American Tower Corp. (NYSE:AMT) holding by 19.1%, impacting the portfolio by -0.64%.

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The company has a market cap of $95.39 billion and an enterprise value of $122.65 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. While the return on equity of 27.18% is outperforming the sector, the return on assets of 4.15% is underperforming 58% of companies in the Communication Services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.04 is below the industry median of 0.34.

The company's largest guru shareholder is Chuck Akre (Trades, Portfolio) with 1.63% of outstanding shares, followed by Simons' firm with 0.53% and Segalas with 0.26%

Carlson reduced his The Cooper Companies Inc. (NYSE:COO) position by 34.48%, impacting the portfolio by -0.57%.

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The company, which manufactures contact lenses, has a market cap of $16.57 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. While the return on equity of 12.80% is outperforming the sector, the return on assets of 6.83% is underperforming 53% of companies in the Medical Instruments and Equipment industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.05 is below the industry median of 1.45.

Al Gore (Trades, Portfolio) is the company's largest guru shareholder with 4.65% of outstanding shares, followed by Pioneer Investments with 1.34%, Ron Baron (Trades, Portfolio) with 0.48% and Carlson's Elfun Trusts with 0.19%.

The Intuit Inc. (NASDAQ:INTU) holding was closed, impacting the portfolio by -0.50%.

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The software company has a market cap of $71.20 billion and an enterprise value of $67.92 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 50.29% and return on assets of 25.67% are outperforming 94% of companies in the Application Software industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 8.32 is above the industry median of 3.19.

PRIMECAP Management (Trades, Portfolio) is the company's largest guru shareholder with 1.50% of outstanding shares, followed by Frank Sands (Trades, Portfolio) with 0.85% and Philippe Laffont (Trades, Portfolio) with 0.43%.

The investor reduced his Charles Schwab Corp. (NYSE:SCHW) stake by 16.67%. The portfolio was impacted by -0.49%.

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The company, which is engaged in the brokerage and banking businesses, has a market cap of $54.40 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. While the return on equity of 17.13% is outperforming the sector, the return on assets of 1.35% is underperforming 74% of companies in the Brokers and Exchanges industry. Its financial strength is rated 5 out of 10 with no debt.

The largest guru shareholder of the company is Dodge & Cox with 5.72% of outstanding shares, followed by PRIMECAP Management with 2.36%, Gore with 1.57% and Bill Nygren (Trades, Portfolio) with 0.72%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus .