SunCoast Equity Management, whose President is Donald R. Jowdy, is an investment management firm that pursues high-quality businesses in which it becomes a part-owner. In the latest 13F report, the firm disclosed its top three equity picks. Gilead Sciences, Inc. (NASDAQ:GILD), Visa Inc (NYSE:V) and McKesson Corporation (NYSE:MCK) close the list of the top three stocks in the firm’s portfolio. As of the end of the third quarter of 2014, Suncoast had total equity portfolio of more than $107 million, which signaled an increase from a little over $103 million in the previous quarter.
High on the list of the SunCoast’s top three picks in the third quarter is Gilead Sciences, Inc. (NASDAQ:GILD). The firm’s holding in the stock was 86,915 shares with an estimated worth of $9 million in the third quarter. Suncoast narrowed its exposure to the equity of the $161 billion biopharmaceutical company in the latest filing. It owned 87,800 shares in the company at the end of the second quarter of 2014.
Gilead Sciences, Inc. (NASDAQ:GILD) is also a bullish pick for a number of hedge funds. Tiger Management by Julian Robertson owned 443,911 shares in the company at the end of the second quarter of 2014, being one of its largest equity positions.
SunCoast’s second largest position at in the latest filing is Visa Inc (NYSE:V). However, it reduced its position in the global payments company to 39,444 shares in the third quarter of 2014. That compared with 39,589 shares in the previous quarter. Its new position in the stock carries an estimated value of $8.4 million.
Visa Inc (NYSE:V) is also a large equity position at Hengistbury Investment Partners, a fund managed by Stuart Powers. The fund’s position in the stock was 559,093 shares at the end of the second quarter of 2014.
Closing the list of SunCoast’s top three equity picks is McKesson Corporation (NYSE:MCK). SunCoast owned 39,955 shares worth about $7.8 million of the medical supplies company at the end of the third quarter. That reflects a reduction in position because SunCoast held 40,615 shares in the company at the end of the second quarter of 2014.
McKesson Corporation (NYSE:MCK) witnessed a number of insider selling at the end of last month, with the largest seller being Patrick Blake. The EVP sold 38,000 shares of the company.