TOBAM recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
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.
TOBAM is an investment management firm based out of Paris, France. The company was established in 2006 by Yves Choueifaty, who continues to have an active role in the company acting as its CEO, CIO, and president. TOBAM has grown from its inception to now operate with 35 financial professionals from 11 different nationalities located in its headquarters in Paris and additional location in New York. Since its inception, all of the company’s portfolios have been managed by the Portfolio Management & Research team, which currently has 13 employees. TOBAM conducts its research internally and utilizes a quantitative methodology to make its investment decisions. The company invests in the public equity and commodity market on a global scale. TOBAM invests most heavily in the consumer discretionary sector, which alone makes up almost a quarter of its total asset allocations, and also invests in the consumer staples, utilities and telecommunications, health care, information technology, materials, and energy sectors, among others to a lesser degree, in order of decreasing allocation. The company’s top 10 holdings make up just under a third of its total asset allocations and the company has a relatively high turnover rate of approximately 47.7%. TOBAM holds approximately $7.7 billion in total assets under management spread across 125 accounts, all of which are discretionary accounts. Both of the company’s total number of accounts and total assets under management have been increasing in recent years with its total managed assets growing significantly from just under $1 billion back in 2011 to well over 7 times that amount today. TOBAM mainly caters to pension and profit sharing plans, which alone makes up over half of its client base. All of the company’s strategies are managed with TOBAM’s patented Anti-Benchmark methodology and include a variety of regional offerings such as France, Japan, Canada, and U.S. and Global, World, Emerging Markets, and All Countries World offerings.
As of the latest 13F report, the guru’s equity portfolio contained 406 stocks valued at a total of $1.51Bil. The top holdings were
According to GuruFocus data, these were TOBAM’s top five trades of the quarter.
Electronic Arts Inc
The guru sold out of their 162,561-share investment in NAS:EA. Previously, the stock had a 1.31% weight in the equity portfolio. Shares traded for an average price of $125.59 during the quarter.
On 02/02/2023, Electronic Arts Inc traded for a price of $116.03 per share and a market cap of $32.03Bil. The stock has returned -14.78% 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, Electronic Arts Inc has a price-earnings ratio of 31.27, a price-book ratio of 4.24, a price-earnings-to-growth (PEG) ratio of 13.03, a EV-to-Ebitda ratio of 15.39 and a price-sales ratio of 4.44.
The price-to-GF Value ratio is 0.69, earning the stock a GF Value rank of 10.
United Therapeutics Corp
During the quarter, TOBAM bought 67,767 shares of NAS:UTHR for a total holding of 109,284. The trade had a 1.25% impact on the equity portfolio. During the quarter, the stock traded for an average price of $252.44.
On 02/02/2023, United Therapeutics Corp traded for a price of $255 per share and a market cap of $11.62Bil. The stock has returned 26.66% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, United Therapeutics Corp has a price-earnings ratio of 17.35, a price-book ratio of 2.55, a EV-to-Ebitda ratio of 10.10 and a price-sales ratio of 6.57.
The price-to-GF Value ratio is 1.20, earning the stock a GF Value rank of 3.
Becton, Dickinson and Co
TOBAM reduced their investment in NYSE:BDX by 78,807 shares. The trade had a 1.22% impact on the equity portfolio. During the quarter, the stock traded for an average price of $236.05.
On 02/02/2023, Becton, Dickinson and Co traded for a price of $248.825 per share and a market cap of $70.73Bil. The stock has returned 1.27% 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, Becton, Dickinson and Co has a price-earnings ratio of 42.32, a price-book ratio of 2.79, a price-earnings-to-growth (PEG) ratio of 11.89, a EV-to-Ebitda ratio of 18.84 and a price-sales ratio of 3.66.
The price-to-GF Value ratio is 0.97, earning the stock a GF Value rank of 6.
Take-Two Interactive Software Inc
During the quarter, TOBAM bought 143,002 shares of NAS:TTWO for a total holding of 271,462. The trade had a 0.99% impact on the equity portfolio. During the quarter, the stock traded for an average price of $108.3.
On 02/02/2023, Take-Two Interactive Software Inc traded for a price of $113.935 per share and a market cap of $19.12Bil. The stock has returned -30.94% 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, Take-Two Interactive Software Inc has a price-book ratio of 2.02, a EV-to-Ebitda ratio of 30.72 and a price-sales ratio of 3.54.
The price-to-GF Value ratio is 0.65, earning the stock a GF Value rank of 8.
Las Vegas Sands Corp
During the quarter, TOBAM bought 290,326 shares of NYSE:LVS for a total holding of 430,746. The trade had a 0.92% impact on the equity portfolio. During the quarter, the stock traded for an average price of $42.43.
On 02/02/2023, Las Vegas Sands Corp traded for a price of $57.83 per share and a market cap of $44.19Bil. The stock has returned 29.17% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Las Vegas Sands Corp has a price-earnings ratio of 24.10, a price-book ratio of 11.32, a EV-to-Ebitda ratio of 134.19 and a price-sales ratio of 10.79.
The price-to-GF Value ratio is 1.27, earning the stock a GF Value rank of 1.
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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