STATE OF WISCONSIN INVESTMENT 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 State Of Wisconsin Investment Board, or SWIB for short, was created in 1951 and primarily serves to manage the assets of various state trust funds. The agency is required to make investment decisions related to pension funds “solely for the benefit of the members of the Wisconsin Retirement System” using “the diligence, skill and care that a prudent investor would use in managing a large public pension fund.” The board of trustees are at the top of the organization and are responsible for making decisions about SWIB’s overall investment management policies, including asset allocation, investment guidelines, and performance benchmarks with reviews on a month basis. The board is made up of nine members and are also responsible for appointing the executive director and director of internal audit. The executive staff, which operates under the board of trustees, is made up of eight members, each serving a very specific oversight role, with the current executive director Michael Williamson, who has over three and a half decades of experience in the public sector, overseeing the staff. SWIB currently holds over 102 billion in total assets under management. Most of these assets, approximately 93%, come from the Wisconsin Retirement System trust funds that serves over 580 thousand people. The rest of the organization’s assets are made out of the State Investment Fund (about 6%), which is a cash balance from various state and local governmental units, and five other state trust funds that make up about 1% of total assets, including the Injured Patients and Families Compensation Fund, State Life Insurance Fund, Local Government Property Insurance Fund, Tuition Trust Fund, and State Historical Society of Wisconsin Endowment Fund. The investment performance goal of the agency is for its Core Fund, the larger of the two funds in the Wisconsin Retirement System which is fully diversified and balanced, and Variable Fund, an equity stock fund that fully reflect market changes and have a higher degree of risk, to exceed the benchmarks set by the Trustees.
As of the latest 13F report, the guru’s equity portfolio contained 2791 stocks valued at a total of $38.29Bil. The top holdings were AAPL(4.39%), MSFT(4.25%), and AMZN(2.24%).
According to GuruFocus data, these were STATE OF WISCONSIN INVESTMENT BOARD’s top five trades of the quarter.
ISHARES TRUST
The guru established a new position worth 3,480,000 shares in NAS:ISTB, giving the stock a 0.43% weight in the equity portfolio. Shares traded for an average price of $47.51 during the quarter.
On 08/16/2022, ISHARES TRUST traded for a price of $47.57 per share and a market cap of $5.66Bil. The stock has returned -5.62% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, ISHARES TRUST has a price-book ratio of 2.16.
ISHARES TRUST
During the quarter, STATE OF WISCONSIN INVESTMENT BOARD bought 1,581,577 shares of NAS:EMB for a total holding of 2,716,256. The trade had a 0.36% impact on the equity portfolio. During the quarter, the stock traded for an average price of $89.43.
On 08/16/2022, ISHARES TRUST traded for a price of $89.22 per share and a market cap of $16.46Bil. The stock has returned -17.08% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
Alphabet Inc
STATE OF WISCONSIN INVESTMENT BOARD reduced their investment in NAS:GOOGL by 39,031 shares. The trade had a 0.23% impact on the equity portfolio. During the quarter, the stock traded for an average price of $118.07.
On 08/16/2022, Alphabet Inc traded for a price of $121.7 per share and a market cap of $1,592.37Bil. The stock has returned -12.01% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Alphabet Inc has a price-earnings ratio of 22.65, a price-book ratio of 6.22, a price-earnings-to-growth (PEG) ratio of 0.85, a EV-to-Ebitda ratio of 14.95 and a price-sales ratio of 5.96.
The price-to-GF Value ratio is 0.89, earning the stock a GF Value rank of 7.
Microsoft Corp
STATE OF WISCONSIN INVESTMENT BOARD reduced their investment in NAS:MSFT by 283,736 shares. The trade had a 0.18% impact on the equity portfolio. During the quarter, the stock traded for an average price of $271.99.
On 08/16/2022, Microsoft Corp traded for a price of $292.71 per share and a market cap of $2,183.00Bil. The stock has returned 0.18% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 30.36, a price-book ratio of 13.12, a price-earnings-to-growth (PEG) ratio of 1.47, a EV-to-Ebitda ratio of 21.35 and a price-sales ratio of 11.12.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
Amazon.com Inc
STATE OF WISCONSIN INVESTMENT BOARD reduced their investment in NAS:AMZN by 459,538 shares. The trade had a 0.16% impact on the equity portfolio. During the quarter, the stock traded for an average price of $125.73.
On 08/16/2022, Amazon.com Inc traded for a price of $144.78 per share and a market cap of $1,474.95Bil. The stock has returned -12.23% 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 129.71, a price-book ratio of 11.22, a price-earnings-to-growth (PEG) ratio of 3.10, a EV-to-Ebitda ratio of 30.36 and a price-sales ratio of 3.05.
The price-to-GF Value ratio is 0.76, earning the stock a GF Value rank of 10.
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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