Top 5 2nd Quarter Trades of LEVIN CAPITAL STRATEGIES, L.P.

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Aug 16, 2022
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LEVIN CAPITAL STRATEGIES, 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.

Levin Capital Strategies is an investment management firm based out of New York. The company was founded in 2005 by John A. Levin, who is currently still with the company acting as its CEO and Chairman. Levin Capital Strategies currently has 31 employees with 21 of them being investment professionals and operates under the controlling majority ownership of the John A. Levin 2005 Separation Trust, which alone holds over three quarters of the company’s total ownership, with the remaining ownership being held by John Andrew Levin himself and various key executives. The company utilizes a fundamental analysis with a bottom up investment approach, investing in public equity and fixed income markets on a global scale and mainly focusing on the large cap stocks of selected companies. Levin Capital Strategies invests its assets across a variety of sectors, allocation its investments in the finance, industrials, information technology, health care, consumer staples, energy, consumer discretionary, and materials sectors, among others to a lesser degree, in order of decreasing allocation. The company currently holds over $9 billion in total assets under management spread across 379 accounts all of which are discretionary accounts except for 2, which makes up $260 million of its held assets. Although the firm’s total number of accounts has been growing at a steady rate in recent years, its total assets under management has increase significantly, growing from $2.85 billion back in 2010 to well over three times that amount today. Levin Capital Strategies mainly caters to high net worth individuals, which alone makes up over half of its client base, and also provides its services to individuals, state or municipal entities, corporations or other businesses, pooled investment vehicles, investment companies, charitable organizations, pension and profit sharing plans, banking institutions, and insurance companies, among others, in order of decreasing clientele.

As of the latest 13F report, the guru’s equity portfolio contained 276 stocks valued at a total of $846.00Mil. The top holdings were JNJ(4.87%), AAPL(4.84%), and MSFT(4.64%).

According to GuruFocus data, these were LEVIN CAPITAL STRATEGIES, L.P.’s top five trades of the quarter.

Change Healthcare Inc


During the quarter, LEVIN CAPITAL STRATEGIES, L.P. bought 465,357 shares of NAS:CHNG for a total holding of 525,857. The trade had a 1.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $23.32.

On 08/16/2022, Change Healthcare Inc traded for a price of $24.76 per share and a market cap of $8.13Bil. The stock has returned 15.32% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 3 out of 10.

In terms of valuation, Change Healthcare Inc has a price-book ratio of 2.45, a EV-to-Ebitda ratio of 15.84 and a price-sales ratio of 2.29.

Cowen Inc


During the quarter, LEVIN CAPITAL STRATEGIES, L.P. bought 384,660 shares of NAS:COWN for a total holding of 456,700. The trade had a 1.08% impact on the equity portfolio. During the quarter, the stock traded for an average price of $24.32.

On 08/16/2022, Cowen Inc traded for a price of $38.72 per share and a market cap of $1.07Bil. The stock has returned 0.75% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, Cowen Inc has a price-earnings ratio of 8.45, a price-book ratio of 1.03, a EV-to-Ebitda ratio of 0.93 and a price-sales ratio of 0.75.

The price-to-GF Value ratio is 1.61, earning the stock a GF Value rank of 1.

CC Neuberger Principal Holdings II


LEVIN CAPITAL STRATEGIES, L.P. reduced their investment in NYSE:PRPB by 1,044,585 shares. The trade had a 1% impact on the equity portfolio. During the quarter, the stock traded for an average price of $9.94.

On 08/16/2022, CC Neuberger Principal Holdings II traded for a price of $9.35 per share and a market cap of $1.01Bil. The stock has returned -4.69% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 1 out of 10.

In terms of valuation, CC Neuberger Principal Holdings II has a price-earnings ratio of 70.83, a price-book ratio of 1.40 and a EV-to-Ebitda ratio of -40.07.

NCR Corp


LEVIN CAPITAL STRATEGIES, L.P. reduced their investment in NYSE:NCR by 251,970 shares. The trade had a 0.97% impact on the equity portfolio. During the quarter, the stock traded for an average price of $34.85.

On 08/16/2022, NCR Corp traded for a price of $33.52 per share and a market cap of $4.59Bil. The stock has returned -22.85% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, NCR Corp has a price-earnings ratio of 71.31, a price-book ratio of 3.36, a EV-to-Ebitda ratio of 9.53 and a price-sales ratio of 0.61.

The price-to-GF Value ratio is 0.90, earning the stock a GF Value rank of 7.

Cohn Robbins Holdings Corp


LEVIN CAPITAL STRATEGIES, L.P. reduced their investment in NYSE:CRHC by 973,954 shares. The trade had a 0.93% impact on the equity portfolio. During the quarter, the stock traded for an average price of $9.93.

On 08/16/2022, Cohn Robbins Holdings Corp traded for a price of $9.99 per share and a market cap of $1.03Bil. The stock has returned 1.94% over the past year.

GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 2 out of 10.

In terms of valuation, Cohn Robbins Holdings Corp has a price-earnings ratio of 81.89, a price-book ratio of 1.35 and a EV-to-Ebitda ratio of -117.05.


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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