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Top 5 1st Quarter Trades of MARTINGALE ASSET MANAGEMENT L P

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May 12, 2022
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MARTINGALE ASSET MANAGEMENT L P recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

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.

Martingale Asset Management LP is an investment management firm based out of Boston, Massachusetts. The company was established in 1987 and is employee owned with the majority ownership in the company being held by Martingale Asset Management Corporation. The firm is headed by president and CEO Arnold S. Wood and has grown to 22 employees of which 8 are investment professionals. Martingale Asset Management conducts its research internally and utilizes a fundamental and quantitative methodology to make its investment decisions. The company invests in the growth and value stocks of selected companies from the small to large market caps in the public equity markets within the U.S. Martingale Asset Management benchmarks its performances against a variety of Russell and S&P indexes. Martingale Asset Management invests its assets across a variety of sectors, focusing on the information technology, health care, and finance sectors, each of which make up a sixth of its total asset allocations, and also invests in the consumer discretionary, consumer staples, utilities and telecommunications, and industrials sectors, among others to a lesser degree, in order of decreasing allocation. The firm’s top 10 holdings make up 12% of its total holdings and the firm has a turnover rate of 26.2%. Martingale Asset Management holds approximately $3.7 billion in total assets under management spread across 40 accounts, all of which are discretionary. Although the company’s total number of accounts has been decreasing in recent years, its total assets under management has been increasing, growing significantly from $1.6 billion back in 2012 to well over twice that amount today. Martingale Asset Management mainly caters to high net worth individuals and pension and profit sharing plans, each of which make up over a quarter of its entire client base, and also provides services to investment advisors, charities, investment companies, pooled investment vehicles, state or municipal entities, and insurance companies, among others, in order of decreasing clientele.

As of the latest 13F report, the guru’s equity portfolio contained 801 stocks valued at a total of $6,668,000,000. The top holdings were MSFT(1.50%), GOOGL(1.48%), and JNJ(1.37%).

According to GuruFocus data, these were MARTINGALE ASSET MANAGEMENT L P’s top five trades of the quarter.

Meta Platforms Inc


MARTINGALE ASSET MANAGEMENT L P reduced their investment in NAS:FB by 277,077 shares. The trade had a 1.19% impact on the equity portfolio. During the quarter, the stock traded for an average price of $250.52.

On 05/12/2022, Meta Platforms Inc traded for a price of $187.96 per share and a market cap of $558,769,291,000. The stock has returned -38.43% 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, Meta Platforms Inc has a price-earnings ratio of 15.62, a price-book ratio of 4.56, a price-earnings-to-growth (PEG) ratio of 0.59, a EV-to-Ebitda ratio of 10.17 and a price-sales ratio of 4.88.

The price-to-GF Value ratio is 0.49, earning the stock a GF Value rank of 4.

EPAM Systems Inc


The guru sold out of their 91,347-share investment in NYSE:EPAM. Previously, the stock had a 0.78% weight in the equity portfolio. Shares traded for an average price of $395.36 during the quarter.

On 05/12/2022, EPAM Systems Inc traded for a price of $295.3 per share and a market cap of $18,049,737,000. The stock has returned -34.80% over the past year.

GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 10 out of 10.

In terms of valuation, EPAM Systems Inc has a price-earnings ratio of 40.43, a price-book ratio of 7.09, a price-earnings-to-growth (PEG) ratio of 1.25, a EV-to-Ebitda ratio of 24.37 and a price-sales ratio of 4.51.

The price-to-GF Value ratio is 0.61, earning the stock a GF Value rank of 8.

Cerner Corp


The guru sold out of their 501,249-share investment in NAS:CERN. Previously, the stock had a 0.6% weight in the equity portfolio. Shares traded for an average price of $92.54 during the quarter.

On 05/12/2022, Cerner Corp traded for a price of $93.93 per share and a market cap of $27,595,251,000. The stock has returned 23.84% over the past year.

GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Cerner Corp has a price-earnings ratio of 47.14, a price-book ratio of 7.06, a price-earnings-to-growth (PEG) ratio of 12.41, a EV-to-Ebitda ratio of 18.92 and a price-sales ratio of 4.83.

The price-to-GF Value ratio is 1.15, earning the stock a GF Value rank of 5.

Lockheed Martin Corp


The guru established a new position worth 80,329 shares in NYSE:LMT, giving the stock a 0.53% weight in the equity portfolio. Shares traded for an average price of $404.57 during the quarter.

On 05/12/2022, Lockheed Martin Corp traded for a price of $432.08 per share and a market cap of $109,845,605,000. The stock has returned 16.35% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, Lockheed Martin Corp has a price-earnings ratio of 18.23, a price-book ratio of 10.94, a price-earnings-to-growth (PEG) ratio of 1.69, a EV-to-Ebitda ratio of 12.85 and a price-sales ratio of 1.71.

The price-to-GF Value ratio is 1.06, earning the stock a GF Value rank of 5.

Atlassian Corporation PLC


MARTINGALE ASSET MANAGEMENT L P reduced their investment in NAS:TEAM by 87,365 shares. The trade had a 0.42% impact on the equity portfolio. During the quarter, the stock traded for an average price of $298.69.

On 05/12/2022, Atlassian Corporation PLC traded for a price of $166.33 per share and a market cap of $43,721,948,000. The stock has returned -24.58% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, Atlassian Corporation PLC has a price-book ratio of 146.37, a EV-to-Ebitda ratio of -75.38 and a price-sales ratio of 16.97.

The price-to-GF Value ratio is 0.53, earning the stock a GF Value rank of 8.


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.

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