Highlighting Bayer AG's Exit and Major Position Changes
Bestinfond (Trades, Portfolio), known for its value investment strategy, has revealed its fourth quarter moves of 2023, showcasing a series of calculated adjustments in its global equity portfolio. The fund, which was previously managed by the esteemed Francisco Garcia Parames (Trades, Portfolio), continues to focus on European companies, seeking out businesses with sustainable competitive advantages and strong management teams. Bestinfond (Trades, Portfolio)'s approach is patient and disciplined, aiming to purchase stakes at prices well below their intrinsic value for long-term gains.
Key Position Increases
Bestinfond (Trades, Portfolio) has bolstered its positions in a total of 12 stocks during the quarter. Noteworthy increases include:
- A substantial addition to Bayerische Motoren Werke AG (XTER:BMW, Financial), with 293,305 more shares, bringing the total to 343,501 shares. This represents a 584.32% increase in share count and a 2.8% impact on the current portfolio, valued at €34,618,000.
- A significant boost in Reckitt Benckiser Group PLC (LSE:RKT, Financial), with 365,936 additional shares, resulting in a total of 455,021 shares. This adjustment marks a 410.77% increase in share count, with a total value of £28,917,000.
Summary of Sold Out Positions
Exiting completely from 14 holdings, Bestinfond (Trades, Portfolio) has made some decisive moves:
- The sale of all 733,491 shares in Bayer AG (XTER:BAYN, Financial), impacting the portfolio by -3.05%.
- The liquidation of 3,473,070 shares in HSBC Holdings PLC (LSE:HSBA, Financial), causing a -2.06% impact on the portfolio.
Key Position Reductions
Bestinfond (Trades, Portfolio) has also trimmed its stakes in 26 stocks, with the most significant reductions being:
- A cut in Meta Platforms Inc (META, Financial) by 59,545 shares, leading to a -36.23% decrease in shares and a -1.28% impact on the portfolio. The stock traded at an average price of $325.65 during the quarter and has seen a return of 54.14% over the past three months and 35.38% year-to-date.
- A decrease in Berkshire Hathaway Inc (BRK.B, Financial) by 39,660 shares, resulting in a -24.3% reduction in shares and a -1.01% impact on the portfolio. The stock's average trading price was $350.99 for the quarter, with returns of 11.83% over the past three months and 9.44% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Bestinfond (Trades, Portfolio)'s portfolio comprises 46 stocks. The top holdings include 4.29% in Samsung Electronics Co Ltd (XKRX:005930, Financial), 4.08% in Heineken NV (XAMS:HEIA, Financial), 3.99% in Harley-Davidson Inc (HOG, Financial), 3.83% in Berkshire Hathaway Inc (BRK.B), and 3.83% in Holcim Ltd (XSWX:HOLN, Financial). The investments span across all 11 industries, with a focus on Consumer Cyclical, Basic Materials, Financial Services, Healthcare, Industrials, Technology, Consumer Defensive, Communication Services, Energy, Real Estate, and Utilities.
Bestinfond (Trades, Portfolio)'s latest report underscores its commitment to value investing, with strategic exits and position adjustments reflecting a keen eye for market opportunities and potential risks. The fund's activity offers valuable insights for value investors and those interested in the intricacies of portfolio management.
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.
