Nutreco NV (NUO - NA)

(A Top Pick April 2/13. Down 7.83%.) Had a 2-for-1 stock split. An agricultural company and in a couple of diverse businesses. The key one for him is their aquaculture business, which has fish farming, shrimp farming and production of nutrients for those types of farms. Also, have more traditional animal feed businesses. A lot of things went wrong. The shrimp harvest in Asia was wiped out. Have been unsuccessfully trying to sell an Iberian unit. Valuation is quite compelling and there is an attractive dividend at nearly 3%.

(A Top Pick April 2/13. Down 2.32%.) Their aquaculture of fish feed and fish farming is a real niche within the global agricultural business. Has one of the highest growth rates. A real beneficiary of higher protein diets in emerging markets. Feels they have a very credible plan to double their business over the next few years. Nice balance sheet and very attractive dividend.

(Top Pick Apr 2/13, Up 3.32%) Likes them for their fish feed business. One of the best in the AG space. They can grow organically as well as inorganically. It was an up and down kind of year.

They are one of 3 firms that are involved in the global agriculture industry. They make feedstock for commercial fish farms. Own a number of shellfish farms which is one of the highest growth areas within the global agribusiness industry. Very attractive 3% dividend yield. Materially undervalued at €72.(note: price listed today is in euros)