Matrix Capital Management Company, LP 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.
Matrix Capital Management Company, LLC is a hedge fund sponsor based out of Waltham, Massachusetts. The company was originally established in 1999 by David E. Goel, who is still with the company acting as its managing partner. Matrix Capital Management Company conducts its research internally, utilizing a fundamental methodology with a bottom up approach to make its investment decisions. The company invests in the growth and value stocks of companies, allocating its assets in the public equity markets within the United States. Matrix Capital Management Company invests most heavily in the information technology sector, which alone makes up over two fifth of its total asset allocations, and also invests in the consumer discretionary, which makes up another third of its total allocations, and industrials sectors, among other sectors such as utilities and telecommunications and consumer staples to a lesser degree, in order of decreasing allocation. The company holds its allocations for 8.3 quarters on average and holds its top 10 holdings, which make up over three quarters of its total holdings, for 8 quarters on average. In the most recent quarter, Matrix Capital Management Company had a turnover rate of 41.2%. The company now operates with 14 employees of which 8 are investment professionals. Matrix Capital Management Company manages over $3.2 billion in total assets under management spread across 5 total accounts, all of which are discretionary accounts. Although Matrix Capital Management Company’s total number of accounts has stayed at the same level in recent years, its total assets under management has been increasing despite slight volatility, growing significantly from $680 million back in 2012 to approaching five times that amount today. The company caters exclusively to pooled investment vehicles. Matrix Capital Management Company takes advisory fees in the form of a percentage of assets and various performance based fees.
As of the latest 13F report, the guru’s equity portfolio contained 17 stocks valued at a total of $5.24Bil. The top holdings were GFS(19.03%), NVDA(14.15%), and TDG(13.16%).
According to GuruFocus data, these were Matrix Capital Management Company, LP’s top five trades of the quarter.
CrowdStrike Holdings Inc
The guru sold out of their 3,000,000-share investment in NAS:CRWD. Previously, the stock had a 9.460000000000001% weight in the equity portfolio. Shares traded for an average price of $136.88 during the quarter.
On 02/15/2023, CrowdStrike Holdings Inc traded for a price of $116.31 per share and a market cap of $27.26Bil. The stock has returned -35.60% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, CrowdStrike Holdings Inc has a price-book ratio of 20.73, a EV-to-Ebitda ratio of -746.17 and a price-sales ratio of 12.83.
The price-to-GF Value ratio is 0.34, earning the stock a GF Value rank of 2.
NVIDIA Corp
During the quarter, Matrix Capital Management Company, LP bought 3,273,000 shares of NAS:NVDA for a total holding of 5,073,000. The trade had a 9.130000000000001% impact on the equity portfolio. During the quarter, the stock traded for an average price of $146.65.
On 02/15/2023, NVIDIA Corp traded for a price of $229.71 per share and a market cap of $565.09Bil. The stock has returned -5.27% 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, NVIDIA Corp has a price-earnings ratio of 97.75, a price-book ratio of 26.56, a price-earnings-to-growth (PEG) ratio of 3.05, a EV-to-Ebitda ratio of 71.81 and a price-sales ratio of 20.33.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 7.
Twilio Inc
The guru sold out of their 5,588,749-share investment in NYSE:TWLO. Previously, the stock had a 7.39% weight in the equity portfolio. Shares traded for an average price of $56.91 during the quarter.
On 02/15/2023, Twilio Inc traded for a price of $62.1 per share and a market cap of $11.45Bil. The stock has returned -68.27% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, Twilio Inc has a price-book ratio of 1.03, a EV-to-Ebitda ratio of -10.14 and a price-sales ratio of 2.99.
The price-to-GF Value ratio is 0.14, earning the stock a GF Value rank of 2.
Micron Technology Inc
The guru sold out of their 4,000,000-share investment in NAS:MU. Previously, the stock had a 3.83% weight in the equity portfolio. Shares traded for an average price of $54.72 during the quarter.
On 02/15/2023, Micron Technology Inc traded for a price of $62.07 per share and a market cap of $67.73Bil. The stock has returned -30.43% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Micron Technology Inc has a price-earnings ratio of 11.26, a price-book ratio of 1.37, a price-earnings-to-growth (PEG) ratio of 2.56, a EV-to-Ebitda ratio of 4.57 and a price-sales ratio of 2.49.
The price-to-GF Value ratio is 0.98, earning the stock a GF Value rank of 6.
ASML Holding NV
During the quarter, Matrix Capital Management Company, LP bought 184,800 shares of NAS:ASML for a total holding of 497,200. The trade had a 1.93% impact on the equity portfolio. During the quarter, the stock traded for an average price of $523.8.
On 02/15/2023, ASML Holding NV traded for a price of $677.48 per share and a market cap of $273.12Bil. The stock has returned 9.19% 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, ASML Holding NV has a price-earnings ratio of 45.87, a price-book ratio of 28.76, a price-earnings-to-growth (PEG) ratio of 1.83, a EV-to-Ebitda ratio of 35.56 and a price-sales ratio of 11.78.
The price-to-GF Value ratio is 0.94, 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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