National Mutual Insurance Federation of Agricultural Cooperatives recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
National Mutual Insurance Federation of Agricultural Cooperatives is an insurance company based out of Tokyo, Japan. The company was originally established in 1951 and acts as Japan’s mutual aid association of agricultural cooperatives. National Mutual Insurance Federation of Agricultural Cooperatives was created out of the Agricultural Cooperative Society Law which was enacted in 1947. The company would grow through both organic means and through acquisitions, launching a series of insurance products in the 1950s. The company would then join the insurance committee of the International Co-operative Alliance in 1964, continuing to grow with other strategic collaborations. National Mutual Insurance Federation of Agricultural Cooperatives would then establish an online network system between the National Federation and Prefectural Federations in 1974. The organization would then establish Zenkyoren Asset Management of America, Inc. in 1988, marking its expansion on an international scale. The organization would continue to be a part of numerous significant events and alliances on a global scale, opening a variety of centers such as the Zenkyoren East and West Japan Underwriting Centers in 2005 and then Makuhari Training Center in 2006, among many others, and working with further business alliances. The company currently operates as a subsidiary of Japan Agricultural Cooperatives and is also known by ZENKYOREN. National Mutual Insurance Federation of Agricultural Cooperatives invests most heavily in the finance sector, in fact, investing almost all of its managed assets in this sector, although the firm also invests in the information technology, consumer discretionary, health care, consumer staples, and utilities and telecommunications sectors to a lesser degree, among others. The company holds its allocations an average of over 22 quarters although National Mutual Insurance Federation of Agricultural Cooperatives only holds its top 10 allocations for an average of 14.4 quarters. In the most recent quarter, the firm had a turnover rate of approximately 9.1%.
As of the latest 13F report, the guru’s equity portfolio contained 42 stocks valued at a total of $8.16Bil. The top holdings were IVV(20.61%), VTI(18.03%), and VV(13.97%).
According to GuruFocus data, these were National Mutual Insurance Federation of Agricultural Cooperatives’s top five trades of the quarter.
S&P 500 ETF TRUST ETF
National Mutual Insurance Federation of Agricultural Cooperatives reduced their investment in ARCA:SPY by 1,508,000 shares. The trade had a 6.07% impact on the equity portfolio. During the quarter, the stock traded for an average price of $382.87.
On 02/06/2023, S&P 500 ETF TRUST ETF traded for a price of $410.53 per share and a market cap of $383.63Bil. The stock has returned -7.11% over the past year.
GuruFocus gives the ETF a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, S&P 500 ETF TRUST ETF has a price-earnings ratio of 20.20, a price-book ratio of 3.74, a price-earnings-to-growth (PEG) ratio of 2.48, a EV-to-Ebitda ratio of 15.06 and a price-sales ratio of 2.82.
The price-to-GF Value ratio is 0.00, earning the stock a GF Value rank of 6.
Vanguard Large Cap ETF
National Mutual Insurance Federation of Agricultural Cooperatives reduced their investment in ARCA:VV by 2,382,000 shares. The trade had a 4.39% impact on the equity portfolio. During the quarter, the stock traded for an average price of $174.71.
On 02/06/2023, Vanguard Large Cap ETF traded for a price of $187.1407 per share and a market cap of $25.90Bil. The stock has returned -8.07% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Vanguard Large Cap ETF has a price-earnings ratio of 19.09 and a price-book ratio of 3.63.
Vanguard S&P 500 ETF
National Mutual Insurance Federation of Agricultural Cooperatives reduced their investment in ARCA:VOO by 794,000 shares. The trade had a 2.94% impact on the equity portfolio. During the quarter, the stock traded for an average price of $351.8.
On 02/06/2023, Vanguard S&P 500 ETF traded for a price of $377.64 per share and a market cap of $282.61Bil. The stock has returned -7.15% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Vanguard S&P 500 ETF has a price-earnings ratio of 18.92 and a price-book ratio of 3.58.
Chevron Corp
During the quarter, National Mutual Insurance Federation of Agricultural Cooperatives bought 21,958 shares of NYSE:CVX for a total holding of 60,000. The trade had a 0.05% impact on the equity portfolio. During the quarter, the stock traded for an average price of $174.51.
On 02/06/2023, Chevron Corp traded for a price of $169.4 per share and a market cap of $327.56Bil. The stock has returned 28.63% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Chevron Corp has a price-earnings ratio of 9.27, a price-book ratio of 2.06, a price-earnings-to-growth (PEG) ratio of 1.03, a EV-to-Ebitda ratio of 5.03 and a price-sales ratio of 1.40.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 7.
Kinder Morgan Inc
The guru sold out of their 165,000-share investment in NYSE:KMI. Previously, the stock had a 0.03% weight in the equity portfolio. Shares traded for an average price of $17.99 during the quarter.
On 02/06/2023, Kinder Morgan Inc traded for a price of $18.115 per share and a market cap of $40.72Bil. The stock has returned 11.08% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Kinder Morgan Inc has a price-earnings ratio of 16.17, a price-book ratio of 1.32, a price-earnings-to-growth (PEG) ratio of 26.95, a EV-to-Ebitda ratio of 12.72 and a price-sales ratio of 2.14.
The price-to-GF Value ratio is 0.80, earning the stock a GF Value rank of 9.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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