IRIDIAN ASSET MANAGEMENT LLC/CT recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
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.
Iridian Asset Management, formerly known as Arnhold & S. Bleichroeder Capital is an independent investment management firm owned by its employees. The company was founded in 1996 by David Cohen and Harold Levy, who are still with the company today acting as the co-CEO and co-CIO, who had over 2 decades of experience before starting the firm. Iridian Asset Management focuses its fundamentals on cash related metrics and in-depth, critical assessment of a company's management which came from the experience its founders had in private equity, venture capital, distressed debt and bankruptcy takeovers. The company would grow to have a Small-Cap Value strategy in 2009, which would be managed by Jordan D. Alexander and Stephen A. Friscia, Jr. Sturgis P. Woodberry and Todd Raker are the portfolio managers for its Mid-Cap Equity Strategy. Iridian Asset Management currently provides its services to a variety of clients, focusing on charitable organizations, which alone makes up approximately a third of its client base, and including high net worth individuals, pension and profit sharing plans, investment advisors, state or municipal government entities, corporations, pooled investment vehicles, investment companies, and insurance companies, among others, in order of decreasing clientele. The company currently holds over $15 billion in total assets under management spread across 191 accounts, all of which are discretionary accounts except for one. Both its total accounts held and total assets under management have been increasing in recent years, with its total accounts growing from 146 to its amount today and its total assets under management growing from $5.4 billion to well over twice that amount. Iridian Asset Management currently has 46 employees with 3 investment advisors and 18 broker dealer representatives. The company utilizes fundamental analysis to make its investment management decisions, investing most heavily in the materials and information technology sectors, which each make up over a fifth of its total allocations. The company is based out of Westport with additional offices in Chicago, New York City, and Schaumburg.
As of the latest 13F report, the guru’s equity portfolio contained 53 stocks valued at a total of $1.22Bil. The top holdings were SPY(6.94%), IWM(5.82%), and POST(5.34%).
According to GuruFocus data, these were IRIDIAN ASSET MANAGEMENT LLC/CT’s top five trades of the quarter.
S&P 500 ETF TRUST ETF
The guru established a new position worth 225,000 shares in ARCA:SPY, giving the stock a 6.94% weight in the equity portfolio. Shares traded for an average price of $408.8 during the quarter.
On 07/29/2022, S&P 500 ETF TRUST ETF traded for a price of $411.99 per share and a market cap of $377.03Bil. The stock has returned -5.17% over the past year.
GuruFocus gives the ETF a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, S&P 500 ETF TRUST ETF has a price-earnings ratio of 18.68, a price-book ratio of 3.58, a price-earnings-to-growth (PEG) ratio of 2.25, a EV-to-Ebitda ratio of 14.53 and a price-sales ratio of 2.99.
The price-to-GF Value ratio is 0.00, earning the stock a GF Value rank of 6.
iShares Russell 2000 ETF
The guru established a new position worth 420,000 shares in ARCA:IWM, giving the stock a 5.82% weight in the equity portfolio. Shares traded for an average price of $184.3 during the quarter.
On 07/29/2022, iShares Russell 2000 ETF traded for a price of $187.25 per share and a market cap of $53.65Bil. The stock has returned -14.95% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares Russell 2000 ETF has a price-earnings ratio of 11.89 and a price-book ratio of 1.78.
Molina Healthcare Inc
IRIDIAN ASSET MANAGEMENT LLC/CT reduced their investment in NYSE:MOH by 53,647 shares. The trade had a 1.24% impact on the equity portfolio. During the quarter, the stock traded for an average price of $302.6.
On 07/29/2022, Molina Healthcare Inc traded for a price of $327.72 per share and a market cap of $19.35Bil. The stock has returned 28.41% 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, Molina Healthcare Inc has a price-earnings ratio of 28.05, a price-book ratio of 6.97, a EV-to-Ebitda ratio of 11.35 and a price-sales ratio of 0.64.
The price-to-GF Value ratio is 0.98, earning the stock a GF Value rank of 7.
Elevance Health Inc
IRIDIAN ASSET MANAGEMENT LLC/CT reduced their investment in NYSE:ELV by 27,283 shares. The trade had a 0.93% impact on the equity portfolio. During the quarter, the stock traded for an average price of $494.66.
On 07/29/2022, Elevance Health Inc traded for a price of $477.1 per share and a market cap of $115.35Bil. The stock has returned 25.39% 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, Elevance Health Inc has a price-earnings ratio of 19.29, a price-book ratio of 3.22, a price-earnings-to-growth (PEG) ratio of 1.51, a EV-to-Ebitda ratio of 12.89 and a price-sales ratio of 0.79.
The price-to-GF Value ratio is 1.06, earning the stock a GF Value rank of 5.
Post Holdings Inc
During the quarter, IRIDIAN ASSET MANAGEMENT LLC/CT bought 127,909 shares of NYSE:POST for a total holding of 792,926. The trade had a 0.86% impact on the equity portfolio. During the quarter, the stock traded for an average price of $77.42.
On 07/29/2022, Post Holdings Inc traded for a price of $86.94 per share and a market cap of $5.28Bil. The stock has returned 30.10% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Post Holdings Inc has a price-earnings ratio of 11.34, a price-book ratio of 1.51, a price-earnings-to-growth (PEG) ratio of 0.98, a EV-to-Ebitda ratio of 7.24 and a price-sales ratio of 0.87.
The price-to-GF Value ratio is 1.15, earning the stock a GF Value rank of 3.
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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