Parametric Portfolio Associates LLC 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.
Parametric Portfolio Associates is a private investment manager that was founded in 1987 although the company can trace its history back to the Clifton Group which was founded in 1972 (although the actual merger between the company and Clifton Group was in 2013). In the 1990s the company would have its first custom index management and tax-managed core and commodities assignments. The company would continue to grow largely through organic means until 2003, when Eaton Vance Corporation acquired a majority hold in Parametric. Parametric continued to expand its line of services, gaining its first liability driven investing assignment in 2006 and creating Parametric Risk Advisors in 2007, just a year later. Currently, the company is still largely owned by Eaton Vance Corp., acting as one of its subsidiaries. The company, as of 2015, has $143 billion in total assets under management. The company has 301 employees and 74 investment professionals, with 51 CFA charter holders. Parametric Portfolio Associates operates out of its headquarters in Seattle with additional offices in Minneapolis, Westport, Boston, and Sydney, which was established recently in 2014 in order to establish an international presence in Australia and meet its institutional client needs. Although its physical presence is not very widespread, the company has equity investments in over 70 countries. The company focuses on “systematic alpha strategies that seek to outperform designated benchmarks on a risk-adjusted basis by applying systematic, rules-based asset class exposure,” utilizing proprietary research through a fundamental and quantitative analysis and a top down approach in order to made decisions about its investments. Parametric Portfolio Associates has implemented individual securities, exchange traded funds, options, and other derivative instruments in order to create customized management portfolios for clients. Some of the Parametric family of funds include its Dividend Income, Emerging Markets Core, International Equity, Tax Managed Emerging Markets, and Commodity Strategy funds.
As of the latest 13F report, the guru’s equity portfolio contained 3674 stocks valued at a total of $190,121,000,000. The top holdings were MSFT(5.68%), AAPL(5.23%), and AMZN(2.61%).
According to GuruFocus data, these were Parametric Portfolio Associates LLC’s top five trades of the quarter.
iShares Core S&P 500 ETF
Parametric Portfolio Associates LLC reduced their investment in ARCA:IVV by 1,519,079 shares. The trade had a 0.37% impact on the equity portfolio. During the quarter, the stock traded for an average price of $445.9.
On 05/19/2022, iShares Core S&P 500 ETF traded for a price of $393.56 per share and a market cap of $278,581,447,000. The stock has returned -0.41% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares Core S&P 500 ETF has a price-earnings ratio of 20.83 and a price-book ratio of 3.96.
Microsoft Corp
During the quarter, Parametric Portfolio Associates LLC bought 1,094,854 shares of NAS:MSFT for a total holding of 35,041,978. The trade had a 0.18% impact on the equity portfolio. During the quarter, the stock traded for an average price of $300.8.
On 05/19/2022, 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.
Apple Inc
During the quarter, Parametric Portfolio Associates LLC bought 1,280,613 shares of NAS:AAPL for a total holding of 56,891,567. The trade had a 0.12% impact on the equity portfolio. During the quarter, the stock traded for an average price of $168.23.
On 05/19/2022, Apple Inc traded for a price of $140.82 per share and a market cap of $2,279,197,188,000. The stock has returned 18.90% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 22.86, a price-book ratio of 33.88, a price-earnings-to-growth (PEG) ratio of 1.61, a EV-to-Ebitda ratio of 17.67 and a price-sales ratio of 6.05.
The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 7.
Meta Platforms Inc
Parametric Portfolio Associates LLC reduced their investment in NAS:FB by 710,359 shares. The trade had a 0.12% impact on the equity portfolio. During the quarter, the stock traded for an average price of $250.52.
On 05/19/2022, Meta Platforms Inc traded for a price of $192.24 per share and a market cap of $520,263,609,000. The stock has returned -35.77% 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 14.82, a price-book ratio of 4.31, a price-earnings-to-growth (PEG) ratio of 0.56, a EV-to-Ebitda ratio of 9.62 and a price-sales ratio of 4.61.
The price-to-GF Value ratio is 0.49, earning the stock a GF Value rank of 4.
Vanguard S&P 500 ETF
Parametric Portfolio Associates LLC reduced their investment in ARCA:VOO by 513,702 shares. The trade had a 0.11% impact on the equity portfolio. During the quarter, the stock traded for an average price of $408.14.
On 05/19/2022, Vanguard S&P 500 ETF traded for a price of $360.34 per share and a market cap of $245,262,870,000. The stock has returned -0.44% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Vanguard S&P 500 ETF has a price-earnings ratio of 19.49 and a price-book ratio of 3.72.
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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