Date updated:11-15-2007
Wintergreen Advisers, a mutual fund firm with $1.3 billion in assets under management, is run by David J. Winters, formerly CEO of Franklin Mutual Advisers.
In BusinessWeek in January 2007, the fund was featured:
"His 15-month-old Wintergreen Fund (WGRNX ) returned 20% in 2006, four points more than the Standard & Poor's 500-stock index, thanks in good part to his activist approach. "We don't treat our stocks like rental cars," says Winters. "You've got to think and act like an owner, getting the company to think better."
Featured in Wall Street Moneymakers in November 2006, Winters described his philosophy as:
"Global value, investing in all market caps, with the flexibility to look at any asset class...In general, we're trying to find companies that are beautiful pearls, but with lots of barnacles on the shell. Wall Street is so short-term in orientation today...We think the big opportunity today is finding the after-Christmas sale in October...So we try to buy something that has a lot of value at a big discount."
"We think Asia is fabulous today...and believe that there is tremendous opportunity today for Americans to go on a global shopping expedition overseas.
Featured in Jim Grant's November 13, 2006 Forbes column Winters was asked what his edge is, he replied, "We're long term investors". The fund focuses on value investments and special situations.
Current Returns:
1-Year: 32.32%

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CTO
Consolidated-tomo - $32.72
- 0.00%
- $34.23
From Wintergreen's semi annual report: "CTO’s assets are substantial land holdings located primarily in Volusia County, Florida which is home to Daytona Beach. The company has meaningful income properties and parcels of land that are in the direct path of growth for the city of Daytona. As sentiment towards real estate assets had become negative, Consolidated Tomoka’s stock price declined significantly, which gave Wintergreen the opportunity to buy a meaningful stake in the company at prices which we hope will become very attractive over time. A review of real estate prices in the Daytona area over the last few years shows that there have been substantial increases, and yet in comparison to many other areas on the east coast of Florida, Daytona remains much more affordable. This is significant in light of the fact that Florida is one of the states with the fastest growing populations. We are encouraged by investments for which the passage of time appears to increase their value and therefore to be our friend, and CTO certainly seems to be one of those investments. Consolidated Tomoka has a debt free balance sheet and has a strong management team that has done a good job to enhance the value of their properties."

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HBC
Hsbc Holdings Plc - $44.80
- 0.00%
- $44.48
From the semi-annual report: "Hong Kong Shanghai Bank (“HSBC”) is an example of an international investment that typifies our investment approach. This financial institution began in Hong Kong in 1865 and shortly thereafter started operations in Shanghai. The original purpose of the bank was to facilitate trade, and 140 years later they have maintained focus on their original business plan. Along the way, HSBC has become the third largest bank in the world; with approximately one third of its operations in North America, thirty percent in Europe, and the balance in the rest of the world, especially in emerging markets."

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UHR.VX
The Swatch Grp - $187.00
- +5.65%
- $180.80
From Wall Street MoneyMakers interview: "Another company we like that’s an indirect play on Asia, though based in Switzerland, is Swatch. They not only make the very popularly priced Swatch watches, but they also own Omega, Breguet and Glashüette, among other brands. Watches have become universally popular as a way of showing your individuality and wealth. The more expensive they are, the more people want them. In Asia, the company has grown substantially. Swatch is on a Western stock exchange, it’s conservatively managed and has a strong balance sheet, and it is a great play on increasing wealth in Asia and the rest of the world."

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AAUK
Anglo American Pl - $15.63
- +0.26%
- $15.20
From Wall Street MoneyMakers interview: "Along the same lines, Anglo-American, listed in London, owns the largest piece of DeBeers, which over the past 80 or 90 years has successfully convinced women and the men who love them that they want diamonds. Now they have an incremental 500 million customers in China, because when women get married in China now, they not only want jade, they want diamonds. The company is very shareholder friendly: they’re buying back $4 billion worth of stock, and they just paid out a $1 billion special dividend. It’s a company that trades at a low valuation, because people think of it as a mining company. It is, both in diamonds and platinum, but it’s really got some very special niches that would be almost impossible to duplicate."

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WY
Weyerhaeuser Co. - $35.81
- 0.00%
- $35.43
From Wall Street MoneyMakers interview: "In the U.S., one stock that is under a cloud, and trades at a wide discount that could widen even more, is Weyerhauser. The company owns vast timberlands and has structural-wood-products and homebuilding businesses. They are in the process of unlocking value, which will take time. The housing slump obviously has affected the sentiment and the shorterterm earnings of the company, but we think it’s a treasure trove of assets."

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UBS
Ubs Ag (switzerla - $15.37
- 0.00%
- $15.24
No Analysis added

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BRK-B
Berkshire Hathawa - $2998.00
- 0.00%
- $2963.00
No Analysis added

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RAI
Reynolds American - $40.06
- 0.00%
- $40.00
No Analysis added
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