State of New Jersey Common Pension Fund D 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.
The State of New Jersey Common Pension Fund D is a pension plan sponsor and investment advisor that is managed by the New Kersey Division of Investment, which is in turn under the supervision of the State Investment Council. As of 2015, the total pension fund amount under the Division of Investment is approximately $80 billion, with the majority of its asset investments allocated in the global growth sector, which along makes up over half of total assets, and also invested in the income, liquidity, real return, and risk mitigation sectors, among others, listed in order of decreasing asset allocation. The State of New Jersey Pension Fund includes four common pension funds, with Common Pension Fund A focusing on domestic equities, Common Pension Fund B focusing on domestic fixed income, Common Pension Fund E focusing on alternative investments, and Common Pension Fund D, one of the funds within this family, focusing on international securities and fixed income securities. The fund does not exist as a legally separate entity within New Jersey and that assets that are managed by the division and the funds are included in the financial statements of the state. The dividends and interests earned on the New Jersey Common Pension Fund D per unit are calculatedly monthly and the income is reinvested, unlike the Common Pension Funds A and B, which are calculated monthly like the Pension Fund D but are distributed quarterly. The New Jersey Common Pension Fund D is utilized in calculating foreign currency risk for the firm in the expectation that changes in exchange rates can affect the value of investments, stipulating that emerging market security market values cannot exceed over “1.5 times the percentage derived by dividing the total market capitalization of companies included in the Morgan Stanley Capital International (MSCI) Emerging Market Index by the total market capitalization of the companies included in the MSCI All-Country World Ex-United States Index of the total market value of the assets held by Common Pension Fund D.” The fund has an approximately market value of $25.6 billion as of 2015 first quarter.
As of the latest 13F report, the guru’s equity portfolio contained 1690 stocks valued at a total of $26.32Bil. The top holdings were AAPL(4.94%), MSFT(4.05%), and AMZN(2.16%).
According to GuruFocus data, these were State of New Jersey Common Pension Fund D’s top five trades of the quarter.
Vanguard S&P 500 ETF
The guru sold out of their 1,216,072-share investment in ARCA:VOO. Previously, the stock had a 1.54% weight in the equity portfolio. Shares traded for an average price of $408.14 during the quarter.
On 08/05/2022, Vanguard S&P 500 ETF traded for a price of $380.77 per share and a market cap of $273.36Bil. The stock has returned -4.30% 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 18.38 and a price-book ratio of 3.52.
Vanguard Total Stock Market ETF
The guru sold out of their 2,170,893-share investment in ARCA:VTI. Previously, the stock had a 1.52% weight in the equity portfolio. Shares traded for an average price of $224.27 during the quarter.
On 08/05/2022, Vanguard Total Stock Market ETF traded for a price of $207.75 per share and a market cap of $271.50Bil. The stock has returned -7.19% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Vanguard Total Stock Market ETF has a price-earnings ratio of 17.69 and a price-book ratio of 3.23.
iShares iBoxx USD High Yield Corporate Bond ETF
The guru sold out of their 430,000-share investment in ARCA:HYG. Previously, the stock had a 0.11% weight in the equity portfolio. Shares traded for an average price of $82.97 during the quarter.
On 08/05/2022, iShares iBoxx USD High Yield Corporate Bond ETF traded for a price of $78.44 per share and a market cap of $15.55Bil. The stock has returned -6.46% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares iBoxx USD High Yield Corporate Bond ETF has a price-book ratio of 1.64.
Advanced Micro Devices Inc
During the quarter, State of New Jersey Common Pension Fund D bought 249,025 shares of NAS:AMD for a total holding of 959,689. The trade had a 0.09% impact on the equity portfolio. During the quarter, the stock traded for an average price of $119.57.
On 08/05/2022, Advanced Micro Devices Inc traded for a price of $103.91 per share and a market cap of $168.39Bil. The stock has returned -12.51% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Advanced Micro Devices Inc has a price-earnings ratio of 38.62, a price-book ratio of 3.04, a EV-to-Ebitda ratio of 33.52 and a price-sales ratio of 7.05.
The price-to-GF Value ratio is 0.68, earning the stock a GF Value rank of 8.
Xilinx Inc
The guru sold out of their 148,743-share investment in NAS:XLNX. Previously, the stock had a 0.09% weight in the equity portfolio. Shares traded for an average price of $197.27 during the quarter.
On 08/05/2022, Xilinx Inc traded for a price of $194.92 per share and a market cap of $48.41Bil. The stock has returned 40.44% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Xilinx Inc has a price-earnings ratio of 52.54, a price-book ratio of 13.17, a price-earnings-to-growth (PEG) ratio of 6.33, a EV-to-Ebitda ratio of 37.83 and a price-sales ratio of 13.26.
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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