DnB Asset Management AS 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.
DNB Asset Management AS is a private investment management firm based out of Oslo, Norway. The company is one of the leading financial institutions in the Nordic region that “provides tailored investment solutions across a variety of asset classes to retail and institutional clients.” The firm itself currently operates as a subsidiary of DNB Asset Management Holding AS, which in term operates as a holding company under DNB ASA, Norway’s largest financial services group with over NOK 1.9 trillion. Specifically, DNB Asset Management operates as a subsidiary of DNB bank, the largest entity within the DNB Group of companies and the largest bank in Norway. DNB Asset Management is one of the top 5 managers in the region with over half a million mutual fund customers in Norway and over 300 institutional clients combined in Norway, Sweden and Continental Europe. The firm currently has 75 portfolio managers and analysis who manage over 61 billion euros in assets under management. DNB Asset Management has a global presence with locations in Stockholm, Bergen, Luxembourg, Chennai, and Hong Kong. The company offers a wide range of products and services across many asset classes under the DNB name. DNB Asset Management offers a variety of mutual funds including its Far East, Technology, Global Emerging Markets, Global SRI, India, Private Equity, Renewable Energy, and SEK Long Bond funds, all of which have a Morningstar rating of 3 stars or above. The company invests most heavily in the information technology sector, which alone makes up almost a third of its total asset allocations, and the firm also invests in the health care, finance, consumer discretionary, industrials, energy, and consumer staples sectors, among others to a lesser degree, in order of decreasing allocation. DNB Asset Management’s top 10 holdings make up over a quarter of its total holdings and the company has a 11.5% turnover rate.
As of the latest 13F report, the guru’s equity portfolio contained 632 stocks valued at a total of $14.18Bil. The top holdings were MSFT(7.84%), GOOGL(4.58%), and AAPL(3.44%).
According to GuruFocus data, these were DnB Asset Management AS’s top five trades of the quarter.
Netflix Inc
DnB Asset Management AS reduced their investment in NAS:NFLX by 384,566 shares. The trade had a 0.47% impact on the equity portfolio. During the quarter, the stock traded for an average price of $221.54.
On 01/12/2023, Netflix Inc traded for a price of $327.26 per share and a market cap of $145.64Bil. The stock has returned -39.49% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Netflix Inc has a price-earnings ratio of 29.32, a price-book ratio of 7.09, a price-earnings-to-growth (PEG) ratio of 1.04, a EV-to-Ebitda ratio of 7.44 and a price-sales ratio of 4.70.
The price-to-GF Value ratio is 0.52, earning the stock a GF Value rank of 4.
Cisco Systems Inc
DnB Asset Management AS reduced their investment in NAS:CSCO by 1,555,932 shares. The trade had a 0.47% impact on the equity portfolio. During the quarter, the stock traded for an average price of $44.34.
On 01/12/2023, Cisco Systems Inc traded for a price of $49.21 per share and a market cap of $202.16Bil. The stock has returned -18.66% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Cisco Systems Inc has a price-earnings ratio of 17.77, a price-book ratio of 5.01, a price-earnings-to-growth (PEG) ratio of 3.70, a EV-to-Ebitda ratio of 11.59 and a price-sales ratio of 3.92.
The price-to-GF Value ratio is 0.97, earning the stock a GF Value rank of 6.
Spotify Technology SA
The guru sold out of their 645,215-share investment in NYSE:SPOT. Previously, the stock had a 0.43% weight in the equity portfolio. Shares traded for an average price of $106.83 during the quarter.
On 01/12/2023, Spotify Technology SA traded for a price of $91.75 per share and a market cap of $17.72Bil. The stock has returned -60.95% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, Spotify Technology SA has a price-book ratio of 8.01, a EV-to-Ebitda ratio of 108.24 and a price-sales ratio of 1.49.
The price-to-GF Value ratio is 0.34, earning the stock a GF Value rank of 4.
Adtran Inc
The guru established a new position worth 2,798,251 shares in NAS:ADTN, giving the stock a 0.42% weight in the equity portfolio. Shares traded for an average price of $21.77 during the quarter.
On 01/12/2023, Adtran Inc traded for a price of $19.25 per share and a market cap of $1.50Bil. The stock has returned -2.29% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Adtran Inc has a price-book ratio of 1.72, a EV-to-Ebitda ratio of -111.64 and a price-sales ratio of 1.34.
The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 7.
Alphabet Inc
DnB Asset Management AS reduced their investment in NAS:GOOGL by 496,883 shares. The trade had a 0.38% impact on the equity portfolio. During the quarter, the stock traded for an average price of $110.81.
On 01/12/2023, Alphabet Inc traded for a price of $91.52 per share and a market cap of $1,189.05Bil. The stock has returned -34.51% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Alphabet Inc has a price-earnings ratio of 18.17, a price-book ratio of 4.68, a price-earnings-to-growth (PEG) ratio of 0.68, a EV-to-Ebitda ratio of 11.70 and a price-sales ratio of 4.31.
The price-to-GF Value ratio is 0.65, 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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