Carmignac Gestion 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.
Carmignac Gestion is an investment management company owned by its employees. The company was founded in 1989 by Édouard Carmignac, who is currently the CEO of the company. Carmignac Gestion is based out of Paris and has an additional office located in London. The company has won a variety of awards including the Lipper Fund Awards in 2011 for the best euro flexible diversified fund and at the AGEFI - Forum gestion d'actifs France for being the best management company as well as the transparency prize at the De Tijd / L'2cho Fund Awards in Belgium. The company’s funds themselves are also award winning, with its total awards numbering over 30 in just the past two years including the Le Revenu France award for the best international equity over a decade and Euro Fund Award in 2015 for the best fund over 10 years. Carmignac Gestion currently has over 240 employees made up of 20 nationalities, 6 working languages, and 30 fund managers and analysts in its management team. The company has over 1.9 billion euros in total equity with over 57 billion euros in assets under management. Carmignac Gestion distributes its funds in 12 European countries and Singapore and has a varied client base including independent advisors, which alone makes up over a third of its clientele, banks and networks, network financial advisors, institutional clients, and private clients, among others to a lesser degree, in order of decreasing clientele. The company invests in a variety of sectors including information technology, which alone makes up almost a third of allocations, consumer discretionary, finance, materials, health care, and others, in order of decreasing allocation. The company conducts over 1,500 visits each year to various companies, production sites, directors, etc., and currently offers 24 funds and 15 investment strategies, with funds including its Emergents USD, Euro Entrepreneurs, Portfolio China, and various others.
As of the latest 13F report, the guru’s equity portfolio contained 135 stocks valued at a total of $5.54Bil. The top holdings were BABA(5.75%), MSFT(5.50%), and ORCL(5.09%).
According to GuruFocus data, these were Carmignac Gestion’s top five trades of the quarter.
Amazon.com Inc
Carmignac Gestion reduced their investment in NAS:AMZN by 2,337,628 shares. The trade had a 5.67% impact on the equity portfolio. During the quarter, the stock traded for an average price of $98.78.
On 02/15/2023, Amazon.com Inc traded for a price of $99.7 per share and a market cap of $1,021.65Bil. The stock has returned -35.75% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Amazon.com Inc has a price-book ratio of 6.96, a EV-to-Ebitda ratio of 28.42 and a price-sales ratio of 1.93.
The price-to-GF Value ratio is 0.50, earning the stock a GF Value rank of 4.
Alibaba Group Holding Ltd
During the quarter, Carmignac Gestion bought 3,086,382 shares of NYSE:BABA for a total holding of 3,615,798. The trade had a 4.91% impact on the equity portfolio. During the quarter, the stock traded for an average price of $78.84999999999999.
On 02/15/2023, Alibaba Group Holding Ltd traded for a price of $104.22 per share and a market cap of $275.93Bil. The stock has returned -14.52% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Alibaba Group Holding Ltd has a price-earnings ratio of 270.70, a price-book ratio of 2.04, a price-earnings-to-growth (PEG) ratio of 19.90, a EV-to-Ebitda ratio of 15.94 and a price-sales ratio of 2.13.
The price-to-GF Value ratio is 0.35, earning the stock a GF Value rank of 4.
Stryker Corp
During the quarter, Carmignac Gestion bought 709,371 shares of NYSE:SYK for a total holding of 870,509. The trade had a 3.13% impact on the equity portfolio. During the quarter, the stock traded for an average price of $226.93.
On 02/15/2023, Stryker Corp traded for a price of $264.66 per share and a market cap of $100.26Bil. The stock has returned 6.81% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Stryker Corp has a price-earnings ratio of 42.89, a price-book ratio of 6.03, a price-earnings-to-growth (PEG) ratio of 10.46, a EV-to-Ebitda ratio of 27.79 and a price-sales ratio of 5.52.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
Catalent Inc
The guru sold out of their 1,768,186-share investment in NYSE:CTLT. Previously, the stock had a 2.75% weight in the equity portfolio. Shares traded for an average price of $54.36 during the quarter.
On 02/15/2023, Catalent Inc traded for a price of $70.34999999999999 per share and a market cap of $12.67Bil. The stock has returned -28.92% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Catalent Inc has a price-earnings ratio of 31.13, a price-book ratio of 2.58, a price-earnings-to-growth (PEG) ratio of 1.69, a EV-to-Ebitda ratio of 16.30 and a price-sales ratio of 2.70.
The price-to-GF Value ratio is 0.64, earning the stock a GF Value rank of 8.
Advanced Micro Devices Inc
During the quarter, Carmignac Gestion bought 2,090,028 shares of NAS:AMD for a total holding of 2,102,028. The trade had a 2.45% impact on the equity portfolio. During the quarter, the stock traded for an average price of $66.01000000000001.
On 02/15/2023, Advanced Micro Devices Inc traded for a price of $85.95 per share and a market cap of $138.58Bil. The stock has returned -24.78% 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, Advanced Micro Devices Inc has a price-earnings ratio of 97.67, a price-book ratio of 2.53, a price-earnings-to-growth (PEG) ratio of 1.64, a EV-to-Ebitda ratio of 26.80 and a price-sales ratio of 5.73.
The price-to-GF Value ratio is 0.63, earning the stock a GF Value rank of 8.
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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