ONTARIO TEACHERS PENSION PLAN BOARD 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 Ontario Teachers Pension Plan Board is a private pension fund that administers benefit pension for school teachers within Ontario and is currently Canada’s largest single profession pension plan. The Ontario Teachers Pension Plan Board, or OTPP for short, was established in 1990, and, prior to its establishment, teachers’ pensions in Ontario had been solely sponsored by the government with assets invested in government bonds only. The board, also known commonly as Teachers’, currently has over $154 billion in net assets with over 1000 employees located in its head office in Toronto and investment offices in London and Hong Kong. The OTPP also has an office in New York, which is owned by Cadillac Fairview, the board’s real estate subsidiary with approximately 1,400 employees. The company manages equity, fixed income, and alternative investment portfolios, investing its assets in value stocks of large companies, indexed stocks, and actively managed equities. The OTPP utilizes a bottom up stock picking approach and benchmarks its performance against the S&P/TSX Composite Index, S&P 500, Morgan Stanley Capital International (MSCI) EAFE Index, and the MSCI Emerging Markets Index. OTPP’s process looks reviews hundreds of companies, first seeking through direct contact or identifying a macro level theme to find undervalued companies, analyzing through fundamentals, quality of management, business strategy, performance, assets, and other indicators, and monitoring its current investments against possible threats using oversight, foresight, and market intelligence. The company has a current market value of $13.6 billion and invests mainly in the financial and services sectors, which together make up almost half of the company’s total asset allocations, and also invests in the technology, health care, energy, consumer noncyclical, basic materials, transportation, and consumer cyclical sectors, among others to a lesser degree, in order of decreasing amount allocated. The OTPP currently serves over 311,000 members, including 182,000 elementary and secondary school teachers, 129,000 pensioners, and 70,000 inactive members, paying out an annual $5.3 billion.
As of the latest 13F report, the guru’s equity portfolio contained 447 stocks valued at a total of $6.89Bil. The top holdings were GFL(16.33%), MSFT(12.78%), and AMZN(8.50%).
According to GuruFocus data, these were ONTARIO TEACHERS PENSION PLAN BOARD’s top five trades of the quarter.
Amazon.com Inc
During the quarter, ONTARIO TEACHERS PENSION PLAN BOARD bought 1,158,260 shares of NAS:AMZN for a total holding of 5,509,400. The trade had a 1.79% impact on the equity portfolio. During the quarter, the stock traded for an average price of $125.73.
On 08/14/2022, Amazon.com Inc traded for a price of $143.55 per share and a market cap of $1,462.42Bil. The stock has returned -13.09% 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, Amazon.com Inc has a price-earnings ratio of 128.63, a price-book ratio of 11.12, a price-earnings-to-growth (PEG) ratio of 3.07, a EV-to-Ebitda ratio of 30.11 and a price-sales ratio of 3.03.
The price-to-GF Value ratio is 0.76, earning the stock a GF Value rank of 10.
ServiceNow Inc
During the quarter, ONTARIO TEACHERS PENSION PLAN BOARD bought 244,958 shares of NYSE:NOW for a total holding of 890,775. The trade had a 1.69% impact on the equity portfolio. During the quarter, the stock traded for an average price of $477.87.
On 08/14/2022, ServiceNow Inc traded for a price of $506.51 per share and a market cap of $102.32Bil. The stock has returned -12.91% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, ServiceNow Inc has a price-earnings ratio of 556.60, a price-book ratio of 24.40, a EV-to-Ebitda ratio of 144.37 and a price-sales ratio of 15.61.
The price-to-GF Value ratio is 0.73, earning the stock a GF Value rank of 10.
Stryker Corp
During the quarter, ONTARIO TEACHERS PENSION PLAN BOARD bought 476,512 shares of NYSE:SYK for a total holding of 2,554,244. The trade had a 1.38% impact on the equity portfolio. During the quarter, the stock traded for an average price of $235.4.
On 08/14/2022, Stryker Corp traded for a price of $223.12 per share and a market cap of $84.41Bil. The stock has returned -13.44% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Stryker Corp has a price-earnings ratio of 41.09, a price-book ratio of 5.39, a price-earnings-to-growth (PEG) ratio of 11.41, a EV-to-Ebitda ratio of 26.71 and a price-sales ratio of 4.84.
The price-to-GF Value ratio is 0.83, earning the stock a GF Value rank of 9.
Berry Global Group Inc
ONTARIO TEACHERS PENSION PLAN BOARD reduced their investment in NYSE:BERY by 1,514,226 shares. The trade had a 1.1% impact on the equity portfolio. During the quarter, the stock traded for an average price of $56.51.
On 08/14/2022, Berry Global Group Inc traded for a price of $59.81 per share and a market cap of $7.48Bil. The stock has returned -9.09% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Berry Global Group Inc has a price-earnings ratio of 10.70, a price-book ratio of 2.41, a price-earnings-to-growth (PEG) ratio of 0.86, a EV-to-Ebitda ratio of 8.30 and a price-sales ratio of 0.55.
The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 9.
TJX Companies Inc
ONTARIO TEACHERS PENSION PLAN BOARD reduced their investment in NYSE:TJX by 1,392,893 shares. The trade had a 1.06% impact on the equity portfolio. During the quarter, the stock traded for an average price of $60.53.
On 08/14/2022, TJX Companies Inc traded for a price of $65.47 per share and a market cap of $76.71Bil. The stock has returned -6.95% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, TJX Companies Inc has a price-earnings ratio of 23.81, a price-book ratio of 13.72, a EV-to-Ebitda ratio of 15.49 and a price-sales ratio of 1.59.
The price-to-GF Value ratio is 0.84, earning the stock a GF Value rank of 9.
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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