Jefferies Group (Trades, Portfolio), a renowned investment firm, recently filed its 13F report for the second quarter of 2023, which concluded on June 30, 2023. The firm's portfolio comprised 1,498 stocks with a total value of $10.78 billion. The top holdings included SPY (2.74%), ALL (2.62%), and IWM (1.23%).
About Jefferies Group (Trades, Portfolio)
Jefferies Group is a globally recognized investment firm known for its strategic and diversified investment approach. The firm's investment philosophy is rooted in rigorous research, risk management, and a long-term perspective. It seeks to generate consistent returns by investing in a broad range of assets, including equities, fixed income, and alternative investments.
Key Transactions of Q2 2023
The firm's top three trades of the quarter involved Allstate Corp (NYSE:ALL), S&P 500 ETF TRUST ETF (ARCA:SPY), and Xtrackers USD High Yield Corporate Bond ETF (ARCA:HYLB).
Allstate Corp (NYSE:ALL)
During the quarter, Jefferies Group (Trades, Portfolio) purchased 2,575,022 shares of Allstate Corp, bringing its total holding to 2,586,715 shares. This transaction had a 2.61% impact on the equity portfolio. The stock traded at an average price of $113.39 during the quarter. As of August 14, 2023, ALL's price was $106.37, with a market cap of $27.82 billion. The stock has returned -15.30% over the past year. GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 6 out of 10. In terms of valuation, ALL has a price-book ratio of 2.06, a EV-to-Ebitda ratio of -15.82, and a price-sales ratio of 0.53.
S&P 500 ETF TRUST ETF (ARCA:SPY)
Jefferies Group (Trades, Portfolio) reduced its investment in the S&P 500 ETF TRUST ETF by 409,206 shares, impacting the equity portfolio by 1.4%. The stock traded at an average price of $418.22 during the quarter. As of August 14, 2023, SPY's price was $446.83, with a market cap of $419.94 billion. The stock has returned 6.33% over the past year. GuruFocus gives the ETF a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10. In terms of valuation, SPY has a EV-to-Ebitda ratio of 15.09 and a price-sales ratio of 2.64.
Xtrackers USD High Yield Corporate Bond ETF (ARCA:HYLB)
The firm sold out of its 2,497,097-share investment in the Xtrackers USD High Yield Corporate Bond ETF. The shares traded at an average price of $33.93 during the quarter. As of August 14, 2023, HYLB's price was $34.37, with a market cap of $3.91 billion. The stock has returned 0.18% over the past year.
In conclusion, Jefferies Group (Trades, Portfolio)'s Q2 2023 13F filing reveals a strategic mix of buy and sell transactions, reflecting the firm's dynamic investment approach. The firm's portfolio adjustments provide valuable insights into its investment strategy and market outlook.
