Robeco Institutional Asset Management B.V. 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.
Robeco Institutional Asset Management is an asset management company acting as a subsidiary of Robeco Groep N.V., managing its investment institutions. Its parent company is an international asset manager that acts as the main asset management arm of ORIX Corporation, which acquired the company from Rabobank Groep in 2013, which acquired the company in 2001. The company can trace its history back to 1923, when the Rotterdam Investment Consortium was founded, along with the original Robeco Fund, with the Robeco Name taking the first two letters of its Dutch name Rotterdamsch Beleggings Consortium. The company started with over $1 million in capital, but would face various issues that would greatly diminish its assets, although it would survive until the 1940s to be revived by its large investment in the US during the wartime economy. The company would begin expanding internationally in the 1950s and 1960s, with new listings in many major European markets and also in Hong Kong and Tokyo. Robeco would become the largest mutual fund in Europe in 1969, continuing to open more offices in various major European locations. In the 1990s, the company would focus on acquiring holdings in the United States, continuing to expand its international strategy and continuing to introduce new investment solutions into the 2000s. Robeco Institutional Asset Management today operates through its market specific subsidiaries in Austria, Belgium, Italy, France, Germany, Netherlands, Spain, Switzerland, the United Kingdom, and United States, which alone has almost $3 billion in total assets under management. The majority of its investments are focused in the financial, services, and technology sectors, together making up almost 60% of its total allocations, and also include investments in the health care, consumer noncyclical, utilities, capital goods, energy, consumer cyclical, and capital goods sectors, among others to a lesser degree, in order of decreasing allocation. Some of the strategies that Robeco offers include its All Strategy Euro Bonds, Emerging Markets Equities, Aggregate Fixed Income, and Quant Equities.
As of the latest 13F report, the guru’s equity portfolio contained 936 stocks valued at a total of $30.95Bil. The top holdings were AAPL(5.13%), MSFT(4.21%), and GOOGL(2.50%).
According to GuruFocus data, these were Robeco Institutional Asset Management B.V.’s top five trades of the quarter.
Microsoft Corp
Robeco Institutional Asset Management B.V. reduced their investment in NAS:MSFT by 658,835 shares. The trade had a 0.53% impact on the equity portfolio. During the quarter, the stock traded for an average price of $264.05.
On 12/01/2022, Microsoft Corp traded for a price of $255.1799 per share and a market cap of $1,896.87Bil. The stock has returned -22.14% 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 27.42, a price-book ratio of 10.93, a price-earnings-to-growth (PEG) ratio of 1.33, a EV-to-Ebitda ratio of 18.45 and a price-sales ratio of 9.43.
The price-to-GF Value ratio is 0.81, earning the stock a GF Value rank of 9.
Amgen Inc
During the quarter, Robeco Institutional Asset Management B.V. bought 550,439 shares of NAS:AMGN for a total holding of 1,201,655. The trade had a 0.4% impact on the equity portfolio. During the quarter, the stock traded for an average price of $242.4.
On 12/01/2022, Amgen Inc traded for a price of $284.38 per share and a market cap of $151.54Bil. The stock has returned 45.30% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Amgen Inc has a price-earnings ratio of 22.77, a price-book ratio of 41.46, a price-earnings-to-growth (PEG) ratio of 4.84, a EV-to-Ebitda ratio of 14.51 and a price-sales ratio of 5.88.
The price-to-GF Value ratio is 1.07, earning the stock a GF Value rank of 5.
Amazon.com Inc
During the quarter, Robeco Institutional Asset Management B.V. bought 964,960 shares of NAS:AMZN for a total holding of 6,228,291. The trade had a 0.35% impact on the equity portfolio. During the quarter, the stock traded for an average price of $126.4.
On 12/01/2022, Amazon.com Inc traded for a price of $95.47 per share and a market cap of $974.86Bil. The stock has returned -44.50% 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 87.67, a price-book ratio of 7.09, a price-earnings-to-growth (PEG) ratio of 2.09, a EV-to-Ebitda ratio of 20.75 and a price-sales ratio of 1.97.
The price-to-GF Value ratio is 0.50, earning the stock a GF Value rank of 4.
Tesla Inc
During the quarter, Robeco Institutional Asset Management B.V. bought 407,907 shares of NAS:TSLA for a total holding of 1,494,645. The trade had a 0.35% impact on the equity portfolio. During the quarter, the stock traded for an average price of $279.27.
On 12/01/2022, Tesla Inc traded for a price of $194.55 per share and a market cap of $614.91Bil. The stock has returned -46.65% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Tesla Inc has a price-earnings ratio of 60.18, a price-book ratio of 15.43, a EV-to-Ebitda ratio of 37.01 and a price-sales ratio of 8.83.
The price-to-GF Value ratio is 0.51, earning the stock a GF Value rank of 4.
Bristol-Myers Squibb Co
During the quarter, Robeco Institutional Asset Management B.V. bought 1,200,434 shares of NYSE:BMY for a total holding of 4,093,531. The trade had a 0.28% impact on the equity portfolio. During the quarter, the stock traded for an average price of $72.54.
On 12/01/2022, Bristol-Myers Squibb Co traded for a price of $81.25 per share and a market cap of $172.72Bil. The stock has returned 51.77% 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, Bristol-Myers Squibb Co has a price-earnings ratio of 26.46, a price-book ratio of 5.29, a price-earnings-to-growth (PEG) ratio of 3.31, a EV-to-Ebitda ratio of 10.49 and a price-sales ratio of 3.77.
The price-to-GF Value ratio is 1.08, earning the stock a GF Value rank of 5.
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.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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