Renowned investor Robert Karr has recently disclosed his firm's portfolio for the second quarter of 2023, which ended on June 30, 2023. Karr is known for his value-oriented investment philosophy, focusing on long-term capital appreciation by investing in a concentrated portfolio of companies that exhibit strong fundamentals and growth potential.
Portfolio Overview
The firm's portfolio for Q2 2023 comprised 19 stocks with a total value of $498 million. The top holdings were Microsoft Corp (MSFT) with a portfolio weight of 40.42%, Quanta Services Inc (PWR) at 11.34%, and Euronet Worldwide Inc (EEFT) at 8.57%.
Top Trades of the Quarter
The following were the firm's top three trades of the quarter:
NEXTracker Inc (NAS:NXT)
Robert Karr (Trades, Portfolio)'s firm established a new position in NEXTracker Inc, purchasing 808,169 shares. This gave the stock a 6.46% weight in the equity portfolio. The shares traded for an average price of $36.65 during the quarter. As of August 14, 2023, NXT had a price of $42.15 and a market cap of $2.61 billion. The stock has returned 0.00% 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. NXT's valuation ratios include a price-earnings ratio of 16.21, a EV-to-Ebitda ratio of 10.88, and a price-sales ratio of 1.12.
Array Technologies Inc (NAS:ARRY)
The firm reduced its investment in Array Technologies Inc by 1,040,866 shares, impacting the equity portfolio by 5.86%. The stock traded for an average price of $21.42 during the quarter. As of August 14, 2023, ARRY had a price of $23.12 and a market cap of $3.49 billion. The stock has returned -0.77% 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. ARRY's valuation ratios include a price-earnings ratio of 45.33, a price-book ratio of 12.17, a EV-to-Ebitda ratio of 15.22, and a price-sales ratio of 1.94.
Livent Corp (NYSE:LTHM)
The firm also established a new position in Livent Corp, purchasing 710,000 shares. This gave the stock a 3.91% weight in the equity portfolio. The shares traded for an average price of $23.94 during the quarter. As of August 14, 2023, LTHM had a price of $22.16 and a market cap of $3.98 billion. The stock has returned -26.21% over the past year. GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 7 out of 10. LTHM's valuation ratios include a price-earnings ratio of 12.74, a price-book ratio of 2.41, a EV-to-Ebitda ratio of 8.45, and a price-sales ratio of 4.97.
In conclusion, Robert Karr (Trades, Portfolio)'s Q2 2023 portfolio shows a strategic mix of new positions and reductions, reflecting the firm's value-oriented investment philosophy. The portfolio's performance and the firm's top trades provide valuable insights for investors seeking to understand market trends and investment strategies.