TOCQUEVILLE ASSET MANAGEMENT L.P. 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.
Tocqueville Asset Management is an investment management company based out of New York. The company was established in 1985 and took its name from Alexis de Tocqueville, the nineteenth-century chronicler of American democracy, resisting “preconceived notions and constantly test our ideas against the hard realities of the marketplace.” Tocqueville Asset Management conducts its research in house and utilizes a contrarian fundamental analysis to make its investment decisions. The company invests in various public equity markets on a global scale, allocating its assets in the value stocks of small cap, micro cap, and core equity stocks and benchmarking its performance against the Dow Jones Industrial Average and S&P 500 Index. The company invests the most in the materials sector, which alone makes up a quarter of its total asset allocations, and also invests in the information technology, health care, consumer discretionary, industrials, finance, and energy sectors, among others to a lesser degree, in order of decreasing allocation. Tocqueville Asset Management currently has 110 employees with 46 of them being investment professionals. The firm holds over $13 billion in total assets under management spread across over 3,000 accounts with all by 69 of these accounts being discretionary. Both of the company’s total number of accounts and total assets under management have been rising in recent years with its accounts held growing from 2,100 to its amount today and its total assets under management growing from $7.6 billion to its current amount. Tocqueville Asset Management caters mainly to individuals, which alone makes up almost half of its client base, and also provides services to high net worth individuals, investment advisors, state or municipal government entities, corporations, pooled investment vehicles, and others, in order of decreasing clientele. The company’s family of funds current includes its Tocqueville, Opportunity, International, Select, Gold, Delafield, and Alternative Strategies funds.
As of the latest 13F report, the guru’s equity portfolio contained 574 stocks valued at a total of $5.27Bil. The top holdings were HD(8.15%), MSFT(2.81%), and AAPL(2.55%).
According to GuruFocus data, these were TOCQUEVILLE ASSET MANAGEMENT L.P.’s top five trades of the quarter.
Consumer Discretionary Select Sector SPDR
During the quarter, TOCQUEVILLE ASSET MANAGEMENT L.P. bought 149,132 shares of ARCA:XLY for a total holding of 157,132. The trade had a 0.37% impact on the equity portfolio. During the quarter, the stock traded for an average price of $139.11.
On 02/10/2023, Consumer Discretionary Select Sector SPDR traded for a price of $149.91 per share and a market cap of $14.72Bil. The stock has returned -20.03% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Consumer Discretionary Select Sector SPDR has a price-earnings ratio of 26.24 and a price-book ratio of 6.13.
Meta Platforms Inc
TOCQUEVILLE ASSET MANAGEMENT L.P. reduced their investment in NAS:META by 128,839 shares. The trade had a 0.36% impact on the equity portfolio. During the quarter, the stock traded for an average price of $117.43.
On 02/10/2023, Meta Platforms Inc traded for a price of $177.92 per share and a market cap of $461.28Bil. The stock has returned -23.31% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Meta Platforms Inc has a price-earnings ratio of 20.74, a price-book ratio of 3.70, a price-earnings-to-growth (PEG) ratio of 1.35, a EV-to-Ebitda ratio of 12.26 and a price-sales ratio of 4.13.
The price-to-GF Value ratio is 0.47, earning the stock a GF Value rank of 4.
Amazon.com Inc
TOCQUEVILLE ASSET MANAGEMENT L.P. reduced their investment in NAS:AMZN by 142,671 shares. The trade had a 0.33% impact on the equity portfolio. During the quarter, the stock traded for an average price of $98.78.
On 02/10/2023, Amazon.com Inc traded for a price of $98.23999999999999 per share and a market cap of $1,006.69Bil. The stock has returned -39.05% 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, Amazon.com Inc has a price-book ratio of 6.86, a EV-to-Ebitda ratio of 28.56 and a price-sales ratio of 1.98.
The price-to-GF Value ratio is 0.50, earning the stock a GF Value rank of 4.
Dominion Energy Inc
TOCQUEVILLE ASSET MANAGEMENT L.P. reduced their investment in NYSE:D by 193,947 shares. The trade had a 0.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $62.8.
On 02/10/2023, Dominion Energy Inc traded for a price of $57.73 per share and a market cap of $48.10Bil. The stock has returned -24.80% 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, Dominion Energy Inc has a price-earnings ratio of 52.96, a price-book ratio of 1.80, a EV-to-Ebitda ratio of 15.84 and a price-sales ratio of 2.94.
The price-to-GF Value ratio is 0.71, earning the stock a GF Value rank of 10.
Salesforce Inc
TOCQUEVILLE ASSET MANAGEMENT L.P. reduced their investment in NYSE:CRM by 92,884 shares. The trade had a 0.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $145.92.
On 02/10/2023, Salesforce Inc traded for a price of $173.66 per share and a market cap of $173.66Bil. The stock has returned -21.79% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Salesforce Inc has a price-earnings ratio of 620.21, a price-book ratio of 2.90, a price-earnings-to-growth (PEG) ratio of 23.23, a EV-to-Ebitda ratio of 41.06 and a price-sales ratio of 5.77.
The price-to-GF Value ratio is 0.61, earning the stock a GF Value rank of 8.
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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