FLOSSBACH VON STORCH AG 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.
Flossbach von Storch AG is an independent wealth management firm operating in Europe. The company is based out of Cologne, Germany and is headed by directors Dirk von Velsen, Bert Flossbach, and Kurt von Storch, the of which the two latter of the three were the original founders of the company. Flossbach von Storch AG was established in 1998 and has been providing private and institutional wealth management services since its inception. The company is employee owned and, as such, bases all of its investment decisions on its own internal fundamental philosophy. The company focuses on “the connections between economic, political and demographic parameters” and “independence in both thought and action crucial for sound analysis of opportunities and risks.” Flossbach von Storch conducts its research internally and has developed its own country rating tools that allows the firm to apply a stringent testing process to selected investment opportunities. The company has now grown to 15 public funds since the launch of its first fund in 1999 and provides over 25 special funds. Flossbach von Storch has won a variety of awards throughout the years including Lipped Fund Awards for its Multiple Opportunities Fund in 2012, 2013, and 2014, Feri Fund Rating best rating for mixed funds, the Fund Boutique of 2014 for its wide range of funds, and the Sauren Award in 2012 for its fund management. The company has grown to 120 employees and handles investment volumes of over 20 billion euros for its clients. Flossbach von Storch invests most heavily in the information technology sector, which alone makes up a third of its total asset allocations, and also invests in the consumer staples, health care, industrials, and finance sectors, among others to a lesser degree, in order of decreasing allocation. Its lineup of funds currently includes its Multiple Opportunities, Various Multi-Asset funds, and Global Emerging Markets Equity, among others.
As of the latest 13F report, the guru’s equity portfolio contained 100 stocks valued at a total of $26.09Bil. The top holdings were BRK.B(6.93%), MSFT(4.94%), and GOOGL(4.80%).
According to GuruFocus data, these were FLOSSBACH VON STORCH AG’s top five trades of the quarter.
Illinois Tool Works Inc
FLOSSBACH VON STORCH AG reduced their investment in NYSE:ITW by 3,238,261 shares. The trade had a 2.16% impact on the equity portfolio. During the quarter, the stock traded for an average price of $212.99.
On 02/06/2023, Illinois Tool Works Inc traded for a price of $244.09 per share and a market cap of $74.98Bil. The stock has returned 8.83% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Illinois Tool Works Inc has a price-earnings ratio of 24.96, a price-book ratio of 24.29, a price-earnings-to-growth (PEG) ratio of 12.48, a EV-to-Ebitda ratio of 18.86 and a price-sales ratio of 4.74.
The price-to-GF Value ratio is 0.98, earning the stock a GF Value rank of 6.
PepsiCo Inc
FLOSSBACH VON STORCH AG reduced their investment in NAS:PEP by 3,230,266 shares. The trade had a 1.95% impact on the equity portfolio. During the quarter, the stock traded for an average price of $178.37.
On 02/06/2023, PepsiCo Inc traded for a price of $171.3925 per share and a market cap of $236.13Bil. The stock has returned 1.79% 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, PepsiCo Inc has a price-earnings ratio of 24.52, a price-book ratio of 12.45, a price-earnings-to-growth (PEG) ratio of 6.29, a EV-to-Ebitda ratio of 15.81 and a price-sales ratio of 2.84.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
Alphabet Inc
FLOSSBACH VON STORCH AG reduced their investment in NAS:GOOGL by 4,469,252 shares. The trade had a 1.58% impact on the equity portfolio. During the quarter, the stock traded for an average price of $95.03.
On 02/06/2023, Alphabet Inc traded for a price of $102.75 per share and a market cap of $1,318.49Bil. The stock has returned -28.25% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Alphabet Inc has a price-earnings ratio of 22.58, a price-book ratio of 5.15, a price-earnings-to-growth (PEG) ratio of 0.87, a EV-to-Ebitda ratio of 14.37 and a price-sales ratio of 4.78.
The price-to-GF Value ratio is 0.71, earning the stock a GF Value rank of 10.
Activision Blizzard Inc
During the quarter, FLOSSBACH VON STORCH AG bought 5,270,426 shares of NAS:ATVI for a total holding of 11,427,722. The trade had a 1.55% impact on the equity portfolio. During the quarter, the stock traded for an average price of $74.26000000000001.
On 02/06/2023, Activision Blizzard Inc traded for a price of $72.392 per share and a market cap of $56.66Bil. The stock has returned -7.71% 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, Activision Blizzard Inc has a price-earnings ratio of 33.99, a price-book ratio of 3.01, a price-earnings-to-growth (PEG) ratio of 5.76, a EV-to-Ebitda ratio of 22.07 and a price-sales ratio of 7.73.
The price-to-GF Value ratio is 0.92, earning the stock a GF Value rank of 6.
DocuSign Inc
FLOSSBACH VON STORCH AG reduced their investment in NAS:DOCU by 5,810,061 shares. The trade had a 1.15% impact on the equity portfolio. During the quarter, the stock traded for an average price of $48.68.
On 02/06/2023, DocuSign Inc traded for a price of $63.72 per share and a market cap of $12.81Bil. The stock has returned -45.80% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 2 out of 10.
In terms of valuation, DocuSign Inc has a price-book ratio of 27.35, a EV-to-Ebitda ratio of -448.90 and a price-sales ratio of 5.25.
The price-to-GF Value ratio is 0.21, earning the stock a GF Value rank of 2.
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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