សេចក្តីសង្ខេប
- Investor entered one new position and increased the CoStar and Meta Platforms stakes.
- He also reduced the holdings of Charles Schwab and Aon
អូន .
លោក Wallace Weitz (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), head of Weitz Investment Management, disclosed his first-quarter portfolio earlier this month.
When picking stocks, the guru’s Omaha, Nebraska-based firm combines Benjamin Graham’s principles of price sensitivity and insistence on margin of safety with a conviction that qualitative factors that allow the company to control its future can be more important than statistical metrics like book value and earnings.
In his first-quarter letter for the Partners III Opportunity Fund, Weitz noted the year started with a “cloudy investment outlook that only grew more tumultuous.” He wrote:
“The Omicron wave of Covid-19 cases peaked in early January, but global supply chains are far from healthy. By the end of 2021, supply shortages combined with sustained, massive monetary and fiscal stimulus had already stoked the flames of inflation. Anticipating a hawkish shift at the Federal Reserve, investors began the year repricing assets for a higher interest rate environment. The outbreak of war in Ukraine brought senseless death and destruction, injecting further disruption to global markets. Energy prices surged further as importers of Russian oil and natural gas sought alternative supply. Market conditions remain dynamic, and although markets have recovered a portion of their intra-quarter drawdown, we anticipate further volatility ahead.”
Keeping these considerations in mind, Weitz was active on both the buy and sell sides of the trading ledger during the three months ended March 31. According to 13F filings with the SEC, he entered one new position during the quarter, which was Gartner
វិនិយោគិនគួរតែដឹងថាឯកសារ 13F មិនផ្តល់រូបភាពពេញលេញនៃការកាន់កាប់របស់ក្រុមហ៊ុនទេ ដោយសាររបាយការណ៍រួមបញ្ចូលតែមុខតំណែងរបស់ខ្លួននៅក្នុងភាគហ៊ុនអាមេរិក និងបង្កាន់ដៃប្រាក់បញ្ញើរបស់អាមេរិក ប៉ុន្តែពួកគេនៅតែអាចផ្តល់ព័ត៌មានដ៏មានតម្លៃ។ លើសពីនេះ របាយការណ៍ឆ្លុះបញ្ចាំងតែការជួញដូរ និងការកាន់កាប់ជាកាលបរិច្ឆេទនៃការដាក់ឯកសារចុងក្រោយបំផុត ដែលអាចឬមិនអាចធ្វើឡើងដោយក្រុមហ៊ុនរាយការណ៍នៅថ្ងៃនេះ ឬសូម្បីតែនៅពេលអត្ថបទនេះត្រូវបានបោះពុម្ពផ្សាយ។
Gartner
Weitz invested in 127,979 shares of Gartner (IT, ហិរញ្ញវត្ថុ), បែងចែក 1.7% នៃផលប័ត្រភាគហ៊ុនទៅទីតាំង។ ភាគហ៊ុននេះត្រូវបានជួញដូរក្នុងតម្លៃជាមធ្យម 289.47 ដុល្លារក្នុងមួយហ៊ុនក្នុងកំឡុងត្រីមាស។
The Stamford, Connecticut-based company, which offers subscription-based research services to IT and business professionals, has a $19.60 billion market cap; its shares were trading around $241.70 on Tuesday with a price-earnings ratio of 25.7, a price-book ratio of 167.14 and a price-sales ratio of 4.21.
បន្ទាត់តម្លៃ GF
ខ្សែបន្ទាត់តម្លៃជីអេហ្វអេបានបង្ហាញថាភាគហ៊ុនមានតម្លៃថោកល្មម។
GuruFocus.com
GuruFocus rated Gartner’s financial strength 5 out of 10. In addition to sufficient interest coverage, the Altman Z-Score of 3.45 indicates the company is in good standing even though assets are building up at a faster rate than revenue is growing. The return on invested capital also slightly exceeds the weighted average cost of capital, meaning value is being created as the company grows.
The company’s profitability fared much better with a 10 out of 10 rating, driven by an expanding operating margin as well as strong returns on equity, assets and capital that top a majority of competitors. Gartner also has a high Piotroski F-Score of 7 out of 9, meaning operations are healthy, and consistent earnings and revenue growth contributed to a predictability rank of four out of five stars. According to GuruFocus research, companies with this rank return an average of 9.8% annually over a 10-year period.
Of the gurus invested in Gartner, រ៉ុនរុន (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន) មានភាគហ៊ុនធំជាងគេដែលមាន 6.55% នៃភាគហ៊ុនដែលនៅសល់។ លោក Al Gore (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន)’s Generation Investment Management, លោក Bill Nygren (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), Jim Simons (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន)' បច្ចេកវិទ្យាក្រុមហ៊ុន Renaissance, លោក Joel Greenblatt (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), សហការីខេកតុន (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), លោក Tom Gayner (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន) និង លីអាលីលី (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន) ក៏មានមុខតំណែងនៅក្នុងស្តុកផងដែរ។
ខូស្តាស្តាគ្រុប
The guru boosted the CoStar Group (ស៊ីអេសជីភីភី, ហិរញ្ញវត្ថុ) stake by 27.78%, picking up 313,700 shares. The transaction had an impact of 0.93% on the equity portfolio. Shares traded for an average price of $66.50 each during the quarter.
Weitz now holds 1.44 million shares total, accounting for 4.3% of the equity portfolio and his fourth-largest holding. GuruFocus estimates he has lost 19.48% on the investment since establishing it in the first quarter of 2020.
Weitz’s holding history of CoStar Group.
GuruFocus.com
The company headquartered in Washington D.C., which provides information, analytics and marketing services to the commercial property industry, has a market cap of $32.08 billion; its shares were trading around $812.35 on Tuesday with a price-earnings ratio of 138.39, a price-book ratio of 5.89 and a price-sales ratio of 18.36.
According to the GF Value Line, the stock is significantly undervalued.
ខ្សែបន្ទាត់តម្លៃជីអេហ្វអេសបង្ហាញថាភាគហ៊ុនត្រូវបានវាយតម្លៃត្រឹមត្រូវ។
GuruFocus.com
CoStar’s financial strength was rated 8 out of 10 by GuruFocus on the back of adequate interest coverage and a robust Altman Z-Score of 10.2. Although assets are building up at a faster rate than revenue is growing, indicating it may be becoming less efficient, there is good value creation since the ROIC overshadows the WACC.
The company’s profitability scored a 9 out of 10 rating, driven by an expanding operating margin and returns that outperform over half of its industry peers. CoStar also has a moderate Piotroski F-Score of 5, indicating conditions are typical for a stable company. Steady earnings and revenue growth contributed to a 4.5-star predictability rank. GuruFocus data shows companies with this rank return an average of 10.6% annually.
With 4.76% of outstanding shares, Baron is CoStar’s largest guru shareholder. Other top guru investors are Baillie Gifford (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), ហ្វ្រេដសាន់ស៍ (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), ឈីកអាក (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន)’s firm, Simons’ firm, Jerome Dodson (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), ស្ទីវិនខូន (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), Ray Dalio (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន) និង លោក Tom Gayner (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន).
វេទិកាមេតា
The Meta Platforms (FB, ហិរញ្ញវត្ថុ) holding was increased by 29.44%, with the investor buying 609,257 shares. The transaction impacted the equity portfolio by 0.90%. The stock traded for an average per-share price of $250.52 during the quarter.
Weitz now holds 397,250 shares, which represent 3.95% of the equity portfolio and is the seventh-largest position. He has lost an estimated 2.8% on the investment since establishing it in the first quarter of 2018, according to GuruFocus.
Weitz’s holding history of Meta Platforms.
GuruFocus.com
The Menlo Park, California-based social media company formerly known as Facebook has a $478.02 billion market cap; its shares were trading around $176.55 on Tuesday with a price-earnings ratio of 14.82, a price-book ratio of 4.34 and a price-sales ratio of 4.63.
ដោយផ្អែកលើបន្ទាត់តម្លៃ GF ភាគហ៊ុនហាក់ដូចជាមានតម្លៃទាបគួរឱ្យកត់សម្គាល់នាពេលបច្ចុប្បន្ននេះ។
បន្ទាត់តម្លៃ GF បង្ហាញថាភាគហ៊ុននេះមានតម្លៃទាបជាងយ៉ាងខ្លាំង។
GuruFocus.com
GuruFocus rated Meta Platforms’ financial strength 8 out of 10 due to a comfortable level of interest coverage and a robust Altman Z-Score of 10.26 that indicates it is in good standing. The ROIC also eclipses the WACC, suggesting the company is creating value.
The company’s profitability fared even better with a 10 out of 10 rating. Despite recording a decline in its margins, Meta is supported by strong returns that top a majority of competitors. It also has a moderate Piotroski F-Score of 5. Consistent earnings and revenue growth contributed to a 4.5-star predictability rank.
ខេនហ្វីស (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន) is Meta’s largest guru shareholder with a 0.41% stake. Dodge & Cox, Baillie Gifford (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), ការវិនិយោគឥន្ទ្រីដំបូង (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), Chase Coleman (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), ស្ទីវម៉ាន់ឌែល (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), គ្រីសដាវីស (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន) ក្រុមហ៊ុនរបស់ Simons, Ruane Cuniff (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), Philipe Laffont and ពេជ្រហ៊ីលថលរាជធានី (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), among several others, also have significant holdings in the company.
Charles Schwab
With an impact of -1.74% on the equity portfolio, Weitz curbed the Charles Schwab (អេសអេសអេស, ហិរញ្ញវត្ថុ) position by 41.09%, selling 510,363 shares. The stock traded for an average price of $88.05 per share during the quarter.
The investor now holds a total of 731,650 shares, which make up 2.76% of the equity portfolio. Weitz has gained about 47.30% on the investment so far.
Weitz’s holding history of Charles Schwab.
GuruFocus.com
Headquartered in Westlake, Texas, the company, which offers banking, online brokerage and wealth management advisory services, has a market cap of $119.81 billion; its shares were trading around $63.10 on Tuesday with a price-earnings ratio of 22.9, a price-book ratio of 3.21 and a price-sales ratio of 6.49.
ខ្សែបន្ទាត់តម្លៃជីអេហ្វអេបង្ហាញថាភាគហ៊ុនបច្ចុប្បន្នមានតម្លៃសមរម្យ។
ខ្សែបន្ទាត់តម្លៃជីអេហ្វអេសបង្ហាញថាភាគហ៊ុនត្រូវបានវាយតម្លៃត្រឹមត្រូវ។
GuruFocus.com
Charles Schwab’s financial strength was rated 3 out of 10 by GuruFocus. Although the company has issued new long-term debt over the past several years, it is manageable due to a comfortable level of interest coverage.
The company’s profitability fared a bit better, scoring a 7 out of 10 rating on the back of margins and returns that outperform over half of its industry peers as well as a moderate Piotroski F-Score of 5. Boosted by steady earnings and revenue growth, Charles Schwab has a four-star predictability rank.
Of the gurus invested in Charles Schwab, Dodge & Cox has the largest stake with 3.81% of its outstanding shares. ការគ្រប់គ្រង PRIMECAP (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), Gore’s firm, Ruane Cuniff (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), Baillie Gifford (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), Baron, Nygren, First Eagle and several other gurus also have sizeable holdings.
អូ
Impacting the equity portfolio by -1.13%, the guru trimmed the Aon (អូន, ហិរញ្ញវត្ថុ) holding by 37.07%, selling 93,007 shares. During the quarter, shares traded for an average price of $290.48 each.
Weitz now holds a total of 157,900 shares, giving it 2.30% space in the equity portfolio. GuruFocus estimates he has gained 111.93% on the long-held investment.
Weitz’s holding history of Aon.
GuruFocus.com
The British insurance company, which offers a range of financial risk-mitigation products, has a $56.16 billion market cap; its shares were trading around $266.12 on Tuesday with a price-earnings ratio of 41.98, a price-book ratio of 47.83 and a price-sales ratio of 4.75.
យោងតាមខ្សែបន្ទាត់តម្លៃជីអេហ្វអេសភាគហ៊ុនបច្ចុប្បន្នត្រូវបានវាយតម្លៃត្រឹមត្រូវ។
ខ្សែបន្ទាត់តម្លៃជីអេហ្វអេសបង្ហាញថាភាគហ៊ុនត្រូវបានវាយតម្លៃត្រឹមត្រូវ។
GuruFocus.com
GuruFocus rated Aon’s financial strength 4 out of 10. Although the company has issued new long-term debt over the past several years, it is still at a manageable level due to adequate interest coverage. The low Altman Z-Score of 1.64, however, warns it could be at risk of bankruptcy. The WACC also surpasses the ROIC, indicating struggles with creating value.
The company’s profitability fared better with an 8 out of 10 rating on the back of operating margin expansion and strong returns that outperform over half of its competitors. Aon also has a moderate Piotroski F-Score of 5. As a result of recording losses in operating income, the one-star predictability rank is on watch. GuruFocus says companies with this rank return an average of 1.1% annually.
ដោយមានភាគហ៊ុន ៥.៦៦% ។ វរិនប៊ូហ្វេត (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន) is the company’s largest guru shareholder. Andreas Halvorsen (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), ទីប្រឹក្សាប៉ាស៊ីហ្វិកទីមួយ (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន), ស្ទីស្ទីនរ៉ូម (ជំនួញ, គេហទំព័រផ្ទាល់ខ្លួន) និងអ្នកប្រាជ្ញមួយចំនួនទៀតក៏មានភាគហ៊ុនដែរ។
ពាណិជ្ជកម្មបន្ថែមនិងការអនុវត្តផលប័ត្រ
During the quarter, Weitz also added to the CarMax
Slightly over half of the guru’s $2.23 billion equity portfolio, which is made up of 57 stocks, is invested in the financial services and communication services sectors.
Overview of Weitz’s portfolio by sector.
GuruFocus.com
The Partners III Opportunity Fund returned 23.57% in 2021, underperforming the S&P 500’s 28.7% return.
ការលាតត្រដាង
ខ្ញុំ/យើងមិនមានមុខតំណែងនៅក្នុងភាគហ៊ុនណាមួយដែលបានរៀបរាប់នោះទេ ហើយមិនមានគម្រោងទិញមុខតំណែងថ្មីណាមួយនៅក្នុងភាគហ៊ុនដែលបានរៀបរាប់ក្នុងរយៈពេល 72 ម៉ោងបន្ទាប់។
Source: https://www.forbes.com/sites/gurufocus/2022/05/27/wallace-weitz-buys-gartner-boosts-2-top-holdings/