LYRICAL ASSET MANAGEMENT LP 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.
Lyrical Asset Management LP is an investment management firm based out of New York City. The company was established in 2008 by cofounders Andrew B. Wellington and Jeffrey Alan Keswin, both of whom are still with the company today acting as its managing partners and with Wellington acting as the firm’s CIO. Lyrical Asset Management has grown from its inception to now operate with 16 employees of which 3 are investment professionals. The company conducts its research internally, utilizing a fundamental methodology to make its investment decisions. Lyrical Asset Management invests in the value stocks of companies and aims to maximize its long term investment returns. The company invests most heavily in the information technology sector, which alone makes up over a quarter of its total asset allocations, and also invests in the finance, consumer discretionary, industrials, health care, and materials sectors, among others to a lesser degree, in order of decreasing allocation. Lyrical Asset Management’s top 10 holdings together make up over a third of its total asset allocations and the company has a relatively low turnover rate of approximately 6%. The company currently holds over $3.3 billion in total assets under management spread across 287 accounts, all of which are discretionary accounts except for 1 that makes up a minor $5.8 million of its managed assets. Both of Lyrical Asset Management’s total number of accounts and total assets under management have been increasing in recent years with its total managed assets growing significantly from $40 million back in 2010 to well over 80 times that amount today. The company mainly caters to high net worth individuals, which alone makes up almost two thirds of its clientele, although the highest amount of its managed assets comes from Ucits funds, which alone makes up almost a third of its held assets.
As of the latest 13F report, the guru’s equity portfolio contained 39 stocks valued at a total of $7,236,000,000. The top holdings were AMP(6.09%), URI(6.02%), and AVGO(5.67%).
According to GuruFocus data, these were LYRICAL ASSET MANAGEMENT LP’s top five trades of the quarter.
Uber Technologies Inc
The guru established a new position worth 5,594,347 shares in NYSE:UBER, giving the stock a 2.76% weight in the equity portfolio. Shares traded for an average price of $36.02 during the quarter.
On 05/13/2022, Uber Technologies Inc traded for a price of $24.39 per share and a market cap of $47,893,673,000. The stock has returned -46.84% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Uber Technologies Inc has a price-book ratio of 5.19, a EV-to-Ebitda ratio of -9.15 and a price-sales ratio of 2.13.
The price-to-GF Value ratio is 0.41, earning the stock a GF Value rank of 4.
Concentrix Corp
The guru sold out of their 767,352-share investment in NAS:CNXC. Previously, the stock had a 1.84% weight in the equity portfolio. Shares traded for an average price of $189.66 during the quarter.
On 05/13/2022, Concentrix Corp traded for a price of $146.44 per share and a market cap of $7,683,578,000. The stock has returned -5.37% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Concentrix Corp has a price-earnings ratio of 18.11, a price-book ratio of 2.76, a EV-to-Ebitda ratio of 11.20 and a price-sales ratio of 1.33.
Global Payments Inc
The guru established a new position worth 693,255 shares in NYSE:GPN, giving the stock a 1.31% weight in the equity portfolio. Shares traded for an average price of $139.81 during the quarter.
On 05/13/2022, Global Payments Inc traded for a price of $122.2 per share and a market cap of $34,404,140,000. The stock has returned -39.07% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Global Payments Inc has a price-earnings ratio of 35.02, a price-book ratio of 1.35, a price-earnings-to-growth (PEG) ratio of 2.33, a EV-to-Ebitda ratio of 14.09 and a price-sales ratio of 4.06.
The price-to-GF Value ratio is 0.57, earning the stock a GF Value rank of 4.
Crown Holdings Inc
LYRICAL ASSET MANAGEMENT LP reduced their investment in NYSE:CCK by 842,599 shares. The trade had a 1.25% impact on the equity portfolio. During the quarter, the stock traded for an average price of $118.19.
On 05/13/2022, Crown Holdings Inc traded for a price of $103.66 per share and a market cap of $12,744,173,000. The stock has returned -5.94% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Crown Holdings Inc has a price-book ratio of 7.01, a EV-to-Ebitda ratio of 61.91 and a price-sales ratio of 1.11.
The price-to-GF Value ratio is 0.84, earning the stock a GF Value rank of 9.
iShares Russell 1000 Value ETF
LYRICAL ASSET MANAGEMENT LP reduced their investment in ARCA:IWD by 109,598 shares. The trade had a 0.24% impact on the equity portfolio. During the quarter, the stock traded for an average price of $163.6.
On 05/13/2022, iShares Russell 1000 Value ETF traded for a price of $154.61 per share and a market cap of $53,270,877,000. The stock has returned -1.17% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares Russell 1000 Value ETF has a price-earnings ratio of 16.99 and a price-book ratio of 2.53.
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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