Louisiana State Employees Retirement System 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.
The Louisiana State Employees Retirement System is a public trust fund based out of Baton Rouge, Louisiana. The organization was originally established in 1946 and is currently headed by board chair Judge William Kleinpeter, who believes that “the most important aspect of the LASERS mission is to provide a sound retirement plan for our members.” Louisiana State Employees Retirement System is composed out of 13 members, nine of whom are elected by membership which is further specified into 6 being elected by active members and the remaining 3 being elected by retirees. The final 4 seats on the board are occupied by the Louisiana State Treasurer, the Chair of the Senate Committee on Retirement, the Chair of the House Committee on Retirement, and the Commissioner of the Division of Administration. The agency currently pays out approximately $1.2 billion annually in total benefits and has over 40,000 employees and over 47,000 retirees with approximately 93% of its retirees living in Louisiana. Funding for Louisiana State Employees Retirement System comes from three main sources: earnings to investments that the agency manages, employee contributions to the agency, and employer contributions to the agency. The market value, as of 2015, of the agency’s assets is $11.4 billion and the agency had a fiscal year market return of 1.7%. Louisiana State Employees Retirement System manages approximately one third of its investments internally, allocating its assets across a variety of classes. The company allocates its assets in the domestic equity, international equity, fixed income, alternative assets, and private equity classes with the highest allocations being in the Large Cap Index Fund S&P 500 and International Large Cap Core – MSCI, each of which makes up over $1.2 billion of its total assets. Both of these highest asset allocations are managed internally by the Louisiana State Employees Retirement System.
As of the latest 13F report, the guru’s equity portfolio contained 1504 stocks valued at a total of $3.65Bil. The top holdings were AAPL(5.18%), MSFT(5.03%), and AMZN(2.22%).
According to GuruFocus data, these were Louisiana State Employees Retirement System’s top five trades of the quarter.
Microsoft Corp
During the quarter, Louisiana State Employees Retirement System bought 46,800 shares of NAS:MSFT for a total holding of 766,000. The trade had a 0.31% impact on the equity portfolio. During the quarter, the stock traded for an average price of $239.99.
On 01/25/2023, Microsoft Corp traded for a price of $242.04 per share and a market cap of $1,804.28Bil. The stock has returned -17.55% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 26.08, a price-book ratio of 10.40, a price-earnings-to-growth (PEG) ratio of 1.27, a EV-to-Ebitda ratio of 17.47 and a price-sales ratio of 8.94.
The price-to-GF Value ratio is 0.77, earning the stock a GF Value rank of 10.
Amazon.com Inc
During the quarter, Louisiana State Employees Retirement System bought 66,600 shares of NAS:AMZN for a total holding of 964,200. The trade had a 0.15% impact on the equity portfolio. During the quarter, the stock traded for an average price of $98.78.
On 01/25/2023, Amazon.com Inc traded for a price of $96.31999999999999 per share and a market cap of $982.62Bil. The stock has returned -33.36% 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-earnings ratio of 88.37, a price-book ratio of 7.15, a price-earnings-to-growth (PEG) ratio of 2.11, a EV-to-Ebitda ratio of 21.00 and a price-sales ratio of 1.98.
The price-to-GF Value ratio is 0.50, earning the stock a GF Value rank of 4.
Apple Inc
Louisiana State Employees Retirement System reduced their investment in NAS:AAPL by 31,600 shares. The trade had a 0.13% impact on the equity portfolio. During the quarter, the stock traded for an average price of $142.91.
On 01/25/2023, Apple Inc traded for a price of $142.53 per share and a market cap of $2,257.14Bil. The stock has returned -11.25% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 23.33, a price-book ratio of 44.82, a price-earnings-to-growth (PEG) ratio of 1.34, a EV-to-Ebitda ratio of 17.32 and a price-sales ratio of 5.92.
The price-to-GF Value ratio is 0.82, earning the stock a GF Value rank of 9.
Alphabet Inc
During the quarter, Louisiana State Employees Retirement System bought 40,900 shares of NAS:GOOGL for a total holding of 619,100. The trade had a 0.1% impact on the equity portfolio. During the quarter, the stock traded for an average price of $95.03.
On 01/25/2023, Alphabet Inc traded for a price of $97.7 per share and a market cap of $1,272.99Bil. The stock has returned -25.37% 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 19.40, a price-book ratio of 5.00, a price-earnings-to-growth (PEG) ratio of 0.73, a EV-to-Ebitda ratio of 12.88 and a price-sales ratio of 4.61.
The price-to-GF Value ratio is 0.70, earning the stock a GF Value rank of 10.
Alleghany Corp
The guru sold out of their 3,600-share investment in NYSE:Y. Previously, the stock had a 0.09% weight in the equity portfolio. Shares traded for an average price of $843.86 during the quarter.
On 01/25/2023, Alleghany Corp traded for a price of $847.79 per share and a market cap of $11.41Bil. The stock has returned 27.62% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Alleghany Corp has a price-earnings ratio of 33.43, a price-book ratio of 1.44, a price-earnings-to-growth (PEG) ratio of 1.49, a EV-to-Ebitda ratio of 13.62 and a price-sales ratio of 0.99.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 5.
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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