WS MANAGEMENT LLLP 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.
WS Management LLLP is a hedge fund sponsor based out of Jacksonville, Florida. WS Management LLLP is a relatively small company in the open ended investment management industry. The company was originally established as WS Capital in 1997 by cofounders Gordon Stacy Smith and Reid Samuel Walker, both of whom are still with the company today acting as the company’s two principals. WS Management LLLP utilizes a fundamental methodology to make its investment decisions, allocating its assets in the public equity markets within the United States. The company utilizes a bottom up investment approach to allocate its assets, launching and managing hedge funds for its clients. WS Management LLLP invests most heavily in the finance sector, which alone makes up well over a third of its total asset allocations, and also invests in the consumer discretionary, information technology, transports, materials, health care, energy, and industrials sectors, among other sectors to a lesser degree, in order of decreasing asset allocated. The company’s current top 10 holdings include Berkshare Hathaway, both in Class A and Class B, Wells Fargo & Co., Amazon Inc., Express Scripts, Alibaba Group Holding Limited, TJX Companies Inc., CarMax Inc., Flextronics International Inc., and SPDR Gold Trust ETF, together making up approximately 56.4% of its total holdings. The company’s top holdings in Berkshire Hathaway, when its shares in Class A and Class B, respectively approximately 14.8% and 12.2%, make up over a quarter of its total asset allocations. WS Management LLLP has had a relatively high rate of turnover in the most recent quarter of approximately 51.4%. Although some of its smaller held sector allocations have experienced a much greater variety of fluctuations and volatility, its top two sector allocations, namely in finance and consumer discretionary, have stayed more or less the same ratio in terms of sector allocations.
As of the latest 13F report, the guru’s equity portfolio contained 72 stocks valued at a total of $1.10Bil. The top holdings were BRK.A(9.63%), GLD(7.75%), and COP(3.60%).
According to GuruFocus data, these were WS MANAGEMENT LLLP’s top five trades of the quarter.
SPDR Gold Shares ETF
WS MANAGEMENT LLLP reduced their investment in ARCA:GLD by 280,000 shares. The trade had a 3.83% impact on the equity portfolio. During the quarter, the stock traded for an average price of $160.81.
On 11/15/2022, SPDR Gold Shares ETF traded for a price of $165.5 per share and a market cap of $52.10Bil. The stock has returned -4.98% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
ConocoPhillips
During the quarter, WS MANAGEMENT LLLP bought 180,000 shares of NYSE:COP for a total holding of 387,565. The trade had a 1.67% impact on the equity portfolio. During the quarter, the stock traded for an average price of $99.75.
On 11/15/2022, ConocoPhillips traded for a price of $134.09 per share and a market cap of $167.09Bil. The stock has returned 88.64% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, ConocoPhillips has a price-earnings ratio of 9.66, a price-book ratio of 3.40, a price-earnings-to-growth (PEG) ratio of 0.62, a EV-to-Ebitda ratio of 4.81 and a price-sales ratio of 2.31.
The price-to-GF Value ratio is 1.06, earning the stock a GF Value rank of 5.
Micron Technology Inc
WS MANAGEMENT LLLP reduced their investment in NAS:MU by 287,800 shares. The trade had a 1.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $58.
On 11/15/2022, Micron Technology Inc traded for a price of $63.1 per share and a market cap of $68.60Bil. The stock has returned -17.26% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Micron Technology Inc has a price-earnings ratio of 8.16, a price-book ratio of 1.38, a price-earnings-to-growth (PEG) ratio of 1.85, a EV-to-Ebitda ratio of 3.86 and a price-sales ratio of 2.31.
The price-to-GF Value ratio is 0.81, earning the stock a GF Value rank of 9.
Cleveland-Cliffs Inc
The guru sold out of their 750,000-share investment in NYSE:CLF. Previously, the stock had a 0.94% weight in the equity portfolio. Shares traded for an average price of $16.64 during the quarter.
On 11/15/2022, Cleveland-Cliffs Inc traded for a price of $15.42 per share and a market cap of $7.95Bil. The stock has returned -29.01% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Cleveland-Cliffs Inc has a price-earnings ratio of 3.34, a price-book ratio of 1.13, a price-earnings-to-growth (PEG) ratio of 0.17, a EV-to-Ebitda ratio of 2.83 and a price-sales ratio of 0.35.
The price-to-GF Value ratio is 0.42, earning the stock a GF Value rank of 4.
Apple Inc
The guru sold out of their 70,000-share investment in NAS:AAPL. Previously, the stock had a 0.78% weight in the equity portfolio. Shares traded for an average price of $156.95 during the quarter.
On 11/15/2022, Apple Inc traded for a price of $150.04 per share and a market cap of $2,386.85Bil. The stock has returned 0.63% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 24.56, a price-book ratio of 47.18, a price-earnings-to-growth (PEG) ratio of 1.41, a EV-to-Ebitda ratio of 18.24 and a price-sales ratio of 6.20.
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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