Magellan Asset Management Ltd 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.
Magellan Asset Management is a private investment management company that was founded in 2006. The company acts as a subsidiary of Magellan Financial Group and provides a variety of financial services on a global scale. Magellan Asset Management utilizes a long term investment strategy that is focused on capital preservation, risk minimization, and absolute wealth accumulation. The concentrate portfolios that the company creates are usually composed of around 20 to 40 securities, focusing on companies that have a market capitalization greater than $10 billion or $25 billion for global plus that have had a history of high returns and, according to Magellan Asset Management’s assessment, are trading at a discount to its intrinsic value. Magellan Asset Management conducts its research in house, using fundamental analysis with a bottom up stock picking approach to make its investment decisions. The company invests in public equity markets on a global scale, focusing on infrastructure and utility companies. As of 2015, the company invests most heavily in the information technology sector, which alone makes up over half of its total investment allocations, and also invests in the consumer discretionary, finance, utilities and telecommunications, and consumer staples sectors, among others to a lesser degree, in order of decreasing sector allocation. Magellan Asset Management provides its services to a variety of clients, including investment companies, state or municipal government entities, pension and profit sharing plans, pooled investment vehicles, high net worth individuals, retail, and institutional investors, among others. The company has over $27 billion in total regulatory assets under management and has 84 employees, 32 of which are investment professionals. Magellan Asset Management operates out of its headquarters in Sydney, although its clients are globally diversified. The company has a current market value of over 15 billion, a significant increase from its $9 billion valuation just two years prior.
As of the latest 13F report, the guru’s equity portfolio contained 118 stocks valued at a total of $11.69Bil. The top holdings were MSFT(7.69%), V(5.69%), and ICE(5.35%).
According to GuruFocus data, these were Magellan Asset Management Ltd’s top five trades of the quarter.
Crown Castle Inc
Magellan Asset Management Ltd reduced their investment in NYSE:CCI by 2,850,454 shares. The trade had a 2.88% impact on the equity portfolio. During the quarter, the stock traded for an average price of $135.23.
On 02/15/2023, Crown Castle Inc traded for a price of $139.04 per share and a market cap of $60.21Bil. The stock has returned -13.47% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Crown Castle Inc has a price-earnings ratio of 36.02, a price-book ratio of 8.08, a price-earnings-to-growth (PEG) ratio of 3.96, a EV-to-Ebitda ratio of 21.91 and a price-sales ratio of 8.62.
The price-to-GF Value ratio is 0.72, earning the stock a GF Value rank of 10.
Visa Inc
Magellan Asset Management Ltd reduced their investment in NYSE:V by 2,254,586 shares. The trade had a 2.8% impact on the equity portfolio. During the quarter, the stock traded for an average price of $201.66.
On 02/15/2023, Visa Inc traded for a price of $229.39 per share and a market cap of $482.13Bil. The stock has returned 2.53% 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, Visa Inc has a price-earnings ratio of 32.08, a price-book ratio of 13.06, a price-earnings-to-growth (PEG) ratio of 3.06, a EV-to-Ebitda ratio of 24.71 and a price-sales ratio of 16.06.
The price-to-GF Value ratio is 0.84, earning the stock a GF Value rank of 9.
Microsoft Corp
Magellan Asset Management Ltd reduced their investment in NAS:MSFT by 1,673,502 shares. The trade had a 2.73% impact on the equity portfolio. During the quarter, the stock traded for an average price of $239.99.
On 02/15/2023, Microsoft Corp traded for a price of $272.17 per share and a market cap of $2,025.98Bil. The stock has returned -6.88% 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 30.24, a price-book ratio of 11.07, a price-earnings-to-growth (PEG) ratio of 1.47, a EV-to-Ebitda ratio of 20.05 and a price-sales ratio of 10.00.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 9.
Mastercard Inc
Magellan Asset Management Ltd reduced their investment in NYSE:MA by 1,207,017 shares. The trade had a 2.4% impact on the equity portfolio. During the quarter, the stock traded for an average price of $329.15.
On 02/15/2023, Mastercard Inc traded for a price of $369.96 per share and a market cap of $353.68Bil. The stock has returned -0.58% 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, Mastercard Inc has a price-earnings ratio of 36.20, a price-book ratio of 56.14, a price-earnings-to-growth (PEG) ratio of 2.57, a EV-to-Ebitda ratio of 27.88 and a price-sales ratio of 16.15.
The price-to-GF Value ratio is 0.82, earning the stock a GF Value rank of 9.
Yum Brands Inc
Magellan Asset Management Ltd reduced their investment in NYSE:YUM by 2,759,800 shares. The trade had a 2.05% impact on the equity portfolio. During the quarter, the stock traded for an average price of $121.12.
On 02/15/2023, Yum Brands Inc traded for a price of $130.83 per share and a market cap of $36.63Bil. The stock has returned 9.65% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Yum Brands Inc has a price-earnings ratio of 28.69, a EV-to-Ebitda ratio of 20.81 and a price-sales ratio of 5.57.
The price-to-GF Value ratio is 0.98, earning the stock a GF Value rank of 6.
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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