Insightful Portfolio Adjustments in Q2 2024 Highlight Growth Opportunities
The T. Rowe Price Japan Fund (Trades, Portfolio), known for its strategic investments in a diverse array of Japanese industries, has recently disclosed its N-PORT filing for the second quarter of 2024. This fund primarily targets companies poised for above-average, long-term earnings growth, investing at least 80% of its assets across various sectors. With a keen focus on growth, the fund's investment decisions are guided by rigorous fundamental research aimed at identifying companies with sustainable competitive advantages and robust financial health.
Summary of New Buys
In a significant expansion of its portfolio, T. Rowe Price Japan Fund (Trades, Portfolio) has incorporated 29 new stocks. Noteworthy additions include:
- Nintendo Co Ltd (TSE:7974, Financial), acquiring 111,500 shares, making up 2.04% of the portfolio, valued at ¥5,930 million.
- Resona Holdings Inc (TSE:8308, Financial) with 737,400 shares, representing 1.68% of the portfolio, valued at ¥4,879 million.
- Hanwa Co Ltd (TSE:8078, Financial), adding 118,700 shares, accounting for 1.57% of the portfolio, valued at ¥4,546 million.
Key Position Increases
The fund has also increased its stakes in several key holdings, with the most significant boosts in:
- Sony Group Corp (TSE:6758, Financial), where an additional 110,200 shares were purchased, increasing the total to 164,400 shares. This adjustment, a 203.32% increase in share count, impacts the portfolio by 3.22%, with a total value of ¥13,940 million.
- Renesas Electronics Corp (TSE:6723, Financial), with an additional 270,900 shares, bringing the total to 409,900 shares, valued at ¥7,667 million.
Summary of Sold Out Positions
The fund has completely divested from 25 holdings, including:
- Mitsui Fudosan Co Ltd (TSE:8801, Financial), selling all 946,400 shares, impacting the portfolio by -3.19%.
- Nippon Telegraph & Telephone Corp (TSE:9432, Financial), liquidating 7,783,200 shares, with a -2.87% portfolio impact.
Key Position Reductions
Reductions were made in 13 stocks, with significant cuts in:
- Shin-Etsu Chemical Co Ltd (TSE:4063, Financial), reduced by 154,600 shares, a -60.49% decrease, impacting the portfolio by -2.09%. The stock traded at an average price of ¥6,106.84 during the quarter.
- Toyota Industries Corp (TSE:6201, Financial), reduced by 64,200 shares, a -56.61% decrease, impacting the portfolio by -2.06%. The stock traded at an average price of ¥14,299.3 during the quarter.
Portfolio Overview
As of the second quarter of 2024, the T. Rowe Price Japan Fund (Trades, Portfolio)'s portfolio included 68 stocks. The top holdings were 5.56% in ITOCHU Corp (TSE:8001, Financial), 4.8% in Sony Group Corp (TSE:6758, Financial), 4.37% in Mitsubishi UFJ Financial Group Inc (TSE:8306, Financial), 3.94% in Hitachi Ltd (TSE:6501, Financial), and 3.62% in Recruit Holdings Co Ltd (TSE:6098, Financial). The investments are predominantly concentrated in 10 industries, covering a broad spectrum from Industrials to Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
