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PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO Buys 4, Sells 1 in 1st Quarter

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May 18, 2022
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PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 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.

Public Employees Retirement System of Ohio is the largest state pension fund in Ohio and is currently the 11th largest public retirement system and 15th largest retirement system in the U.S. The system was established in 1935 to establish a secure means to provide retirement benefits to Ohio public employees. In 1938, the system expanded to include county, municipalities, health department, and park and conservancy district employees. The system would continue to expand, adding survivor benefits in 1951 and offering health care benefits beginning in the 1960s. The Public Employees Retirement System of Ohio, then known as the Public Employees Retirement System, would then add a Law Enforcement Division and begin paying health care premiums in the 1970s. In the 2000s, the system would add Member-Directed and Combined Plans on top of its Traditional Plan and also establish the Health Care Preservation Plan, changing its name from the Public Employees Retirement System to its current Public Employees Retirement System of Ohio, or OPERS for short. OPERS currently services over 1 million members split into: approximately 350,000 active members contributing to the system, 465,000 inactive members maintain retirement accounts from past employment, and 190,000 retirees and beneficiaries receiving pension or some form of benefits from the system. Over 3,700 public employers in Ohio are part of OPERS and the system itself receives money mainly from these employer’s contributions, employee contributions, and return on investments. Approximately two thirds of its revenue comes from investment returns while the remaining third comes from employer and employee contributions. OPERS’s assets are comprised of the pension fund, composed of $63.5 billion, and the health care fund, composed of $12.8 billion. The system invests mostly in the services, financial, technology, and health care sectors, together making up over two thirds of its total asset allocations, and also invests in a variety of other sectors to a lesser extent.

As of the latest 13F report, the guru’s equity portfolio contained 2012 stocks valued at a total of $28,312,000,000. The top holdings were AAPL(5.86%), MSFT(5.13%), and AMZN(3.00%).

According to GuruFocus data, these were PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO’s top five trades of the quarter.

Morgan Stanley China A Share Fund Inc


The guru established a new position worth 1,102,667 shares in NYSE:CAF, giving the stock a 0.06% weight in the equity portfolio. Shares traded for an average price of $15.08 during the quarter.

On 05/18/2022, Morgan Stanley China A Share Fund Inc traded for a price of $14.47 per share and a market cap of $316,624,000. The stock has returned -29.88% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 2 out of 10.

In terms of valuation, Morgan Stanley China A Share Fund Inc has a price-book ratio of 0.63.

CHINA FUND INC


The guru established a new position worth 534,140 shares in NYSE:CHN, giving the stock a 0.02% weight in the equity portfolio. Shares traded for an average price of $12.82 during the quarter.

On 05/18/2022, CHINA FUND INC traded for a price of $12.67 per share and a market cap of $132,318,000. The stock has returned -28.47% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 2 out of 10.

In terms of valuation, CHINA FUND INC has a price-earnings ratio of 11.96, a price-book ratio of 0.43 and a price-sales ratio of 10.61.

Korea Fund Inc


During the quarter, PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO bought 55,614 shares of NYSE:KF for a total holding of 350,061. The trade had a 0.01% impact on the equity portfolio. During the quarter, the stock traded for an average price of $29.19.

On 05/18/2022, Korea Fund Inc traded for a price of $27.14 per share and a market cap of $136,811,000. The stock has returned -14.13% over the past year.

GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 1 out of 10.

In terms of valuation, Korea Fund Inc has a price-earnings ratio of 18.59, a price-book ratio of 0.70 and a price-sales ratio of 14.36.

Microsoft Corp


PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO reduced their investment in NAS:MSFT by 458,520 shares. The trade had a 0.52% impact on the equity portfolio. During the quarter, the stock traded for an average price of $300.8.

On 05/18/2022, Microsoft Corp traded for a price of $254.08 per share and a market cap of $1,900,272,740,000. The stock has returned 9.79% 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, Microsoft Corp has a price-earnings ratio of 26.52, a price-book ratio of 11.66, a price-earnings-to-growth (PEG) ratio of 1.26, a EV-to-Ebitda ratio of 18.87 and a price-sales ratio of 9.95.

The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 7.

Prologis Inc


During the quarter, PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO bought 639,269 shares of NYSE:PLD for a total holding of 1,782,347. The trade had a 0.37% impact on the equity portfolio. During the quarter, the stock traded for an average price of $152.45.

On 05/18/2022, Prologis Inc traded for a price of $119.53 per share and a market cap of $88,484,113,000. The stock has returned 12.60% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Prologis Inc has a price-earnings ratio of 23.96, a price-book ratio of 2.59, a price-earnings-to-growth (PEG) ratio of 5.84, a EV-to-Ebitda ratio of 17.59 and a price-sales ratio of 18.91.

The price-to-GF Value ratio is 1.03, earning the stock a GF Value rank of 5.


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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