LANSDOWNE PARTNERS (UK) LLP 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.
Lansdowne Partners (UK) LLP is a private hedge fund sponsor that is based out of London. The company currently operates as a subsidiary of its parent company Lansdown Partners Limited, which was created as a holding company for Lansdowne Partners (UK) LLP, and was founded in 1998 by Sir Paul Ruddock and Steven Heinz. Lansdowne Partners (UK) conducts its research in house and utilizes a fundamental analysis to make its investment decisions, investing in various public equity and alternative markets on a global scale. Lansdowne Partners (UK) invests the most heavily in the consumer discretionary sector, which alone makes up over 40% of its total asset allocations, and also invests in the finance, which makes up another third of its total asset allocations, information technology, and transports sectors, among various others to a lesser degree, in order of decreasing amount allocated. The company is owned by various employees including Stuart Grant Roden and Peter Graham Davies, respectively the Chairman and Head of Developed Markets Strategy, who each own approximately 25% of the company with the remaining ownership split amongst its parent holding company and various key executives. Lansdowne Partners (UK) currently has over $32 billion in total assets under management spread across 36 accounts, all of which are discretionary. The company has 72 employees that operate its business, catering to pooled investment vehicles, which alone makes up over three quarters of its client base, investment companies, and others, in order of decreasing clientele. Lansdowne Partners (UK) provides a variety of client focused equity portfolios and takes its fees from a combination of percentage of assets and performance related fees. Through its parent company Lansdowne Partners Limited Partnership, the Lansdowne family of funds, several of which are award winning, includes its Developed Markets Fund, Global Financials Fund, UK Equity Fund, and Developed Markets Strategic Investment Fund.
As of the latest 13F report, the guru’s equity portfolio contained 15 stocks valued at a total of $483.00Mil. The top holdings were RYAAY(27.52%), FCX(21.72%), and DAL(18.10%).
According to GuruFocus data, these were LANSDOWNE PARTNERS (UK) LLP’s top five trades of the quarter.
WestRock Co
The guru sold out of their 2,086,374-share investment in NYSE:WRK. Previously, the stock had a 13.87% weight in the equity portfolio. Shares traded for an average price of $34.86 during the quarter.
On 02/13/2023, WestRock Co traded for a price of $33.06 per share and a market cap of $8.42Bil. The stock has returned -26.91% 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, WestRock Co has a price-earnings ratio of 10.53, a price-book ratio of 0.73, a price-earnings-to-growth (PEG) ratio of 3.19, a EV-to-Ebitda ratio of 5.98 and a price-sales ratio of 0.40.
The price-to-GF Value ratio is 0.66, earning the stock a GF Value rank of 8.
Delta Air Lines Inc
LANSDOWNE PARTNERS (UK) LLP reduced their investment in NYSE:DAL by 1,491,646 shares. The trade had a 9.01% impact on the equity portfolio. During the quarter, the stock traded for an average price of $33.14.
On 02/13/2023, Delta Air Lines Inc traded for a price of $38.17 per share and a market cap of $24.47Bil. The stock has returned -13.05% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Delta Air Lines Inc has a price-earnings ratio of 18.71, a price-book ratio of 3.79, a EV-to-Ebitda ratio of 13.88 and a price-sales ratio of 0.48.
The price-to-GF Value ratio is 0.62, earning the stock a GF Value rank of 8.
Ryanair Holdings PLC
During the quarter, LANSDOWNE PARTNERS (UK) LLP bought 493,126 shares of NAS:RYAAY for a total holding of 1,776,599. The trade had a 7.64% impact on the equity portfolio. During the quarter, the stock traded for an average price of $71.
On 02/13/2023, Ryanair Holdings PLC traded for a price of $93.34999999999999 per share and a market cap of $21.26Bil. The stock has returned -24.80% 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, Ryanair Holdings PLC has a price-earnings ratio of 9999.00, a price-book ratio of 2.60, a EV-to-Ebitda ratio of 7.57 and a price-sales ratio of 1.62.
The price-to-GF Value ratio is 0.49, earning the stock a GF Value rank of 5.
Freeport-McMoRan Inc
During the quarter, LANSDOWNE PARTNERS (UK) LLP bought 369,434 shares of NYSE:FCX for a total holding of 2,759,301. The trade had a 2.91% impact on the equity portfolio. During the quarter, the stock traded for an average price of $34.95.
On 02/13/2023, Freeport-McMoRan Inc traded for a price of $42.36 per share and a market cap of $60.55Bil. The stock has returned -2.16% 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, Freeport-McMoRan Inc has a price-earnings ratio of 17.87, a price-book ratio of 3.89, a price-earnings-to-growth (PEG) ratio of 1.30, a EV-to-Ebitda ratio of 6.78 and a price-sales ratio of 2.70.
The price-to-GF Value ratio is 1.07, earning the stock a GF Value rank of 5.
Roblox Corp
The guru sold out of their 243,714-share investment in NYSE:RBLX. Previously, the stock had a 1.88% weight in the equity portfolio. Shares traded for an average price of $35.12 during the quarter.
On 02/13/2023, Roblox Corp traded for a price of $34.82 per share and a market cap of $20.92Bil. The stock has returned -50.20% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Roblox Corp has a price-book ratio of 49.39, a EV-to-Ebitda ratio of -30.13 and a price-sales ratio of 9.28.
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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