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Top 5 1st Quarter Trades of LSV ASSET MANAGEMENT

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May 13, 2022
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LSV ASSET MANAGEMENT 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.

LSV Asset Management is a “quantitative value manager providing active management for institutional investors through the application of proprietary investment models” and was founded in 1994. The name came from the three original founding partners: Josef Lakonishok, formerly a professor of finance at UIUC; Andrei Shleifer, a professor of economics at Harvard University; and Robert Vishny, a distinguished finance professor at the University of Chicago. Josef Lakonishok is the only one of the three original founders still active in the firm, serving as the leader of the company, while the others have retired and taken to academics. The firm has evolved from its original structure to 24 equity partners who are all actively involved in LSV Asset Management, with current and former employees holding the majority stock in the firm. The firm was founded on grounded financial research, which all three of the founders were known for, consisting of a totaled three decades experience and over 200 research papers. Their investment philosophy is still grounded in behavioral finance, maintaining that “superior long-term results can be achieved by systematically exploiting the judgmental biases and behavioral weaknesses that influence the decisions of many investors.” LSV Asset Management takes care to avoid overuse of the past to extrapolate the future, incorrectly correlate a good company with a good investment, and employing qualitative opinions rather than hard statistical evidence. The company utilizes a focused quantitative model to operate its investments, looking for undervalued stocks that have a good potential for near term appreciation. Portfolios are fully invested, keeping company cash levels below 2%, and have a “deep value orientation relative to the indices.” The company currently has approximately $90 billion in value equity portfolios from 350 clients. LSV Asset Management’s mutual funds include its Value Equity, Conservative Value Equity, Small Cap Value, Global Value, U.S. Managed Volatility, and Global Managed Volatility funds.

As of the latest 13F report, the guru’s equity portfolio contained 893 stocks valued at a total of $54,472,000,000. The top holdings were MRK(2.05%), PFE(1.99%), and INTC(1.85%).

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

Juniper Networks Inc


LSV ASSET MANAGEMENT reduced their investment in NYSE:JNPR by 3,759,966 shares. The trade had a 0.24% impact on the equity portfolio. During the quarter, the stock traded for an average price of $34.37.

On 05/13/2022, Juniper Networks Inc traded for a price of $29.67 per share and a market cap of $9,586,242,000. The stock has returned 17.68% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Juniper Networks Inc has a price-earnings ratio of 27.23, a price-book ratio of 2.12, a EV-to-Ebitda ratio of 14.14 and a price-sales ratio of 1.93.

The price-to-GF Value ratio is 1.04, earning the stock a GF Value rank of 5.

Exxon Mobil Corp


During the quarter, LSV ASSET MANAGEMENT bought 1,552,818 shares of NYSE:XOM for a total holding of 3,583,511. The trade had a 0.23% impact on the equity portfolio. During the quarter, the stock traded for an average price of $77.63.

On 05/13/2022, Exxon Mobil Corp traded for a price of $86.3 per share and a market cap of $364,675,643,000. The stock has returned 49.58% 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.

In terms of valuation, Exxon Mobil Corp has a price-earnings ratio of 13.47, a price-book ratio of 2.03, a price-earnings-to-growth (PEG) ratio of 67.35, a EV-to-Ebitda ratio of 6.17 and a price-sales ratio of 1.16.

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

Ziff Davis Inc


LSV ASSET MANAGEMENT reduced their investment in NAS:ZD by 1,073,586 shares. The trade had a 0.21% impact on the equity portfolio. During the quarter, the stock traded for an average price of $102.65.

On 05/13/2022, Ziff Davis Inc traded for a price of $76.17 per share and a market cap of $3,601,374,000. The stock has returned -27.63% 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, Ziff Davis Inc has a price-earnings ratio of 8.42, a price-book ratio of 2.10, a price-earnings-to-growth (PEG) ratio of 1.26, a EV-to-Ebitda ratio of 6.41 and a price-sales ratio of 2.91.

The price-to-GF Value ratio is 0.79, earning the stock a GF Value rank of 9.

Qorvo Inc


During the quarter, LSV ASSET MANAGEMENT bought 754,228 shares of NAS:QRVO for a total holding of 1,750,337. The trade had a 0.17% impact on the equity portfolio. During the quarter, the stock traded for an average price of $135.49.

On 05/13/2022, Qorvo Inc traded for a price of $101.16 per share and a market cap of $10,968,943,000. The stock has returned -41.35% 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.

In terms of valuation, Qorvo Inc has a price-earnings ratio of 11.16, a price-book ratio of 2.46, a price-earnings-to-growth (PEG) ratio of 0.73, a EV-to-Ebitda ratio of 8.10 and a price-sales ratio of 2.48.

The price-to-GF Value ratio is 0.60, earning the stock a GF Value rank of 4.

Oshkosh Corp


LSV ASSET MANAGEMENT reduced their investment in NYSE:OSK by 784,031 shares. The trade had a 0.16% impact on the equity portfolio. During the quarter, the stock traded for an average price of $112.52.

On 05/13/2022, Oshkosh Corp traded for a price of $88.19 per share and a market cap of $5,802,454,000. The stock has returned -30.34% 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, Oshkosh Corp has a price-earnings ratio of 20.10, a price-book ratio of 1.98, a price-earnings-to-growth (PEG) ratio of 3.05, a EV-to-Ebitda ratio of 11.98 and a price-sales ratio of 0.76.

The price-to-GF Value ratio is 0.93, earning the stock a GF Value rank of 6.


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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