TOCQUEVILLE ASSET MANAGEMENT L.P. 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.
Tocqueville Asset Management is an investment management company based out of New York. The company was established in 1985 and took its name from Alexis de Tocqueville, the nineteenth-century chronicler of American democracy, resisting “preconceived notions and constantly test our ideas against the hard realities of the marketplace.” Tocqueville Asset Management conducts its research in house and utilizes a contrarian fundamental analysis to make its investment decisions. The company invests in various public equity markets on a global scale, allocating its assets in the value stocks of small cap, micro cap, and core equity stocks and benchmarking its performance against the Dow Jones Industrial Average and S&P 500 Index. The company invests the most in the materials sector, which alone makes up a quarter of its total asset allocations, and also invests in the information technology, health care, consumer discretionary, industrials, finance, and energy sectors, among others to a lesser degree, in order of decreasing allocation. Tocqueville Asset Management currently has 110 employees with 46 of them being investment professionals. The firm holds over $13 billion in total assets under management spread across over 3,000 accounts with all by 69 of these accounts being discretionary. Both of the company’s total number of accounts and total assets under management have been rising in recent years with its accounts held growing from 2,100 to its amount today and its total assets under management growing from $7.6 billion to its current amount. Tocqueville Asset Management caters mainly to individuals, which alone makes up almost half of its client base, and also provides services to high net worth individuals, investment advisors, state or municipal government entities, corporations, pooled investment vehicles, and others, in order of decreasing clientele. The company’s family of funds current includes its Tocqueville, Opportunity, International, Select, Gold, Delafield, and Alternative Strategies funds.
As of the latest 13F report, the guru’s equity portfolio contained 628 stocks valued at a total of $5.31Bil. The top holdings were HD(7.08%), MSFT(3.01%), and AAPL(2.73%).
According to GuruFocus data, these were TOCQUEVILLE ASSET MANAGEMENT L.P.’s top five trades of the quarter.
The Home Depot Inc
TOCQUEVILLE ASSET MANAGEMENT L.P. reduced their investment in NYSE:HD by 113,838 shares. The trade had a 0.53% impact on the equity portfolio. During the quarter, the stock traded for an average price of $295.3.
On 08/13/2022, The Home Depot Inc traded for a price of $314.89 per share and a market cap of $323.63Bil. The stock has returned -3.60% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, The Home Depot Inc has a price-earnings ratio of 20.01, a price-earnings-to-growth (PEG) ratio of 1.50, a EV-to-Ebitda ratio of 14.13 and a price-sales ratio of 2.18.
The price-to-GF Value ratio is 0.89, earning the stock a GF Value rank of 7.
Elanco Animal Health Inc
TOCQUEVILLE ASSET MANAGEMENT L.P. reduced their investment in NYSE:ELAN by 716,718 shares. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $23.71.
On 08/13/2022, Elanco Animal Health Inc traded for a price of $20.08 per share and a market cap of $9.52Bil. The stock has returned -33.42% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Elanco Animal Health Inc has a price-book ratio of 1.30, a EV-to-Ebitda ratio of 31.38 and a price-sales ratio of 2.15.
The price-to-GF Value ratio is 0.59, earning the stock a GF Value rank of 4.
iShares Gold Trust
During the quarter, TOCQUEVILLE ASSET MANAGEMENT L.P. bought 451,241 shares of ARCA:IAU for a total holding of 2,326,298. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $35.59.
On 08/13/2022, iShares Gold Trust traded for a price of $34.21 per share and a market cap of $28.82Bil. The stock has returned 2.46% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares Gold Trust has a price-book ratio of 6.18.
Netflix Inc
TOCQUEVILLE ASSET MANAGEMENT L.P. reduced their investment in NAS:NFLX by 44,488 shares. The trade had a 0.26% impact on the equity portfolio. During the quarter, the stock traded for an average price of $224.13.
On 08/13/2022, Netflix Inc traded for a price of $249.3 per share and a market cap of $110.87Bil. The stock has returned -51.19% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Netflix Inc has a price-earnings ratio of 22.15, a price-book ratio of 5.81, a price-earnings-to-growth (PEG) ratio of 0.78, a EV-to-Ebitda ratio of 5.96 and a price-sales ratio of 3.65.
The price-to-GF Value ratio is 0.40, earning the stock a GF Value rank of 2.
Occidental Petroleum Corp
The guru established a new position worth 238,298 shares in NYSE:OXY, giving the stock a 0.26% weight in the equity portfolio. Shares traded for an average price of $61.35 during the quarter.
On 08/13/2022, Occidental Petroleum Corp traded for a price of $65.73 per share and a market cap of $61.23Bil. The stock has returned 145.66% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Occidental Petroleum Corp has a price-earnings ratio of 6.28, a price-book ratio of 3.39, a EV-to-Ebitda ratio of 4.76 and a price-sales ratio of 1.88.
The price-to-GF Value ratio is 1.31, 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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