Mondrian Investment Partners LTD recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
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.
Mondrian Investment Partners is a private investment management company based out of London. The company was established in 1990 and has an additional location in Philadelphia. Mondrian Investment Partners directly provides portfolio management for equity accounts greater than $100 million and fixed income accounts greater than $50 million, although the company does also provide products through various institutional pooled funds. Mondrian Investment Partners is completely owned by its employees and has 166 employees between its two locations with over 50 investment professionals. The company utilizes quantitative analysis, mainly investing in developed markets equity, which alone makes up over half of its portfolio, and also includes emerging markets equity, all countries world equity, and global/international fixed income, in order of decreasing portfolio allocation. Mondrian Investment Partners invests most heavily in the health care sector, which alone makes up almost a quarter of its total asset allocations, and also invests in the utilities and telecommunications, finance, information technology, industrials, consumer discretionary, consumer staples, and materials sectors, among others to a lesser degree, in order of decreasing allocation. The company currently holds over $64 billion in total assets under management spread across 196 accounts, all of which are discretionary. Although its total number of accounts held has been decreasing in recent years, its total assets under management has increased from $48.2 billion to its current amount today despite some volatility. Mondrian Investment Partners mainly caters to state or municipal government entities, which alone makes up over a quarter of its client base, and also caters to pension and profit sharing plans, investment companies, pooled investment vehicles, corporations, high net worth individuals, charities, insurance companies, and others, in order of decreasing clientele. The company’s line up of products currently includes its Non-U.S. Equity, Emerging Markets Equity, Global Equity, All Countries World, Small Cap Equity, Global Fixed Income, International Fixed Income, Emerging Markets Debt, and Global Debt Opportunities strategies.
As of the latest 13F report, the guru’s equity portfolio contained 83 stocks valued at a total of $4.57Bil. The top holdings were FLNG(10.85%), YUMC(4.59%), and BAP(4.55%).
According to GuruFocus data, these were Mondrian Investment Partners LTD’s top five trades of the quarter.
Berkshire Hathaway Inc
During the quarter, Mondrian Investment Partners LTD bought 338,739 shares of NYSE:BRK.B for a total holding of 354,603. The trade had a 1.98% impact on the equity portfolio. During the quarter, the stock traded for an average price of $284.56.
On 10/21/2022, Berkshire Hathaway Inc traded for a price of $280.49 per share and a market cap of $619.61Bil. The stock has returned -2.21% 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, Berkshire Hathaway Inc has a price-earnings ratio of 58.43, a price-book ratio of 1.37, a price-earnings-to-growth (PEG) ratio of 1.91, a EV-to-Ebitda ratio of 25.74 and a price-sales ratio of 2.37.
The price-to-GF Value ratio is 1.09, earning the stock a GF Value rank of 3.
Flex LNG Ltd
Mondrian Investment Partners LTD reduced their investment in NYSE:FLNG by 248,733 shares. The trade had a 1.41% impact on the equity portfolio. During the quarter, the stock traded for an average price of $31.68.
On 10/21/2022, Flex LNG Ltd traded for a price of $30.73 per share and a market cap of $1.66Bil. The stock has returned 70.98% 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, Flex LNG Ltd has a price-earnings ratio of 9.66, a price-book ratio of 2.00, a EV-to-Ebitda ratio of 10.86 and a price-sales ratio of 5.51.
The price-to-GF Value ratio is 1.44, earning the stock a GF Value rank of 1.
Progressive Corp
Mondrian Investment Partners LTD reduced their investment in NYSE:PGR by 576,173 shares. The trade had a 1.4% impact on the equity portfolio. During the quarter, the stock traded for an average price of $120.41.
On 10/21/2022, Progressive Corp traded for a price of $121.69 per share and a market cap of $71.06Bil. The stock has returned 30.36% 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, Progressive Corp has a price-earnings ratio of 86.14, a price-book ratio of 4.81, a price-earnings-to-growth (PEG) ratio of 3.09, a EV-to-Ebitda ratio of 48.79 and a price-sales ratio of 1.48.
The price-to-GF Value ratio is 1.13, earning the stock a GF Value rank of 3.
American Tower Corp
Mondrian Investment Partners LTD reduced their investment in NYSE:AMT by 259,688 shares. The trade had a 1.39% impact on the equity portfolio. During the quarter, the stock traded for an average price of $256.93.
On 10/21/2022, American Tower Corp traded for a price of $185.76 per share and a market cap of $86.41Bil. The stock has returned -31.45% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, American Tower Corp has a price-earnings ratio of 30.53, a price-book ratio of 12.42, a price-earnings-to-growth (PEG) ratio of 3.18, a EV-to-Ebitda ratio of 19.63 and a price-sales ratio of 8.29.
The price-to-GF Value ratio is 0.61, earning the stock a GF Value rank of 10.
Petroleo Brasileiro SA Petrobras
The guru established a new position worth 5,046,735 shares in NYSE:PBR, giving the stock a 1.36% weight in the equity portfolio. Shares traded for an average price of $13.23 during the quarter.
On 10/21/2022, Petroleo Brasileiro SA Petrobras traded for a price of $16.145 per share and a market cap of $99.75Bil. The stock has returned 123.22% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Petroleo Brasileiro SA Petrobras has a price-earnings ratio of 3.40, a price-book ratio of 1.39, a price-earnings-to-growth (PEG) ratio of 0.12, a EV-to-Ebitda ratio of 2.22 and a price-sales ratio of 0.95.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 7.
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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