APG Asset Management US Inc. 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.
APG Asset Management US Inc. is a private investment management company. The company was founded in 1998 and was former known as ABP Investments US Inc. APG Asset Management US Inc. is based out of New York in the Chrysler Center, sharing the building the New Holland Capital, and acts as a hedge fund manager working exclusively for its parent company APG Asset Management. The company is one of the arms of the asset management segment of APG with other regional divisions including Hong Kong, which focuses on investments in property infrastructure and shares in emerging markets and acts as a stepping stone between Japan, India and Australia, and Brussels, which works with the client pension funds and the Dutch pension system. APG Asset Management US Inc. mainly focuses on investments in focused income securities, property, hedge funds, private equity and infrastructure. The company, as of 2015, has a total market value of over $11 billion and invests its assets primarily in the services sector, which alone makes up over 90% of its total allocations, and also invests in the capital goods, health care, financial, consumer cyclical, and information technology sectors to a lesser degree, in order of decreasing allocation. APG Asset Management US currently has over $108 billion in total assets under management spread across 19 accounts. Of these accounts, 12 are discretionary, which make up $61 billion in assets managed, and 7 are non-discretionary, which make up the remaining $47 billion in assets. Both its total number of accounts and total assets under management have grown in recent years, with its growth from 13 accounts to its current amount reflecting its increase from $71 billion in assets under management to its amount today. APG Asset Management US currently offers its services to pension and profit sharing plans, pooled investment vehicles, and investment advisors, each of which make up approximately one third of its client base.
As of the latest 13F report, the guru’s equity portfolio contained 38 stocks valued at a total of $12.37Bil. The top holdings were PLD(18.46%), ARE(8.67%), and DLR(8.10%).
According to GuruFocus data, these were APG Asset Management US Inc.’s top five trades of the quarter.
Essex Property Trust Inc
The guru sold out of their 309,515-share investment in NYSE:ESS. Previously, the stock had a 0.61% weight in the equity portfolio. Shares traded for an average price of $218.58 during the quarter.
On 02/18/2023, Essex Property Trust Inc traded for a price of $236.83 per share and a market cap of $15.30Bil. The stock has returned -21.92% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Essex Property Trust Inc has a price-earnings ratio of 37.71, a price-book ratio of 2.68, a price-earnings-to-growth (PEG) ratio of 10.77, a EV-to-Ebitda ratio of 17.69 and a price-sales ratio of 9.58.
The price-to-GF Value ratio is 0.76, earning the stock a GF Value rank of 10.
Duke Realty Corp
The guru sold out of their 1,036,160-share investment in NYSE:DRE. Previously, the stock had a 0.41% weight in the equity portfolio. Shares traded for an average price of $48.2 during the quarter.
On 02/18/2023, Duke Realty Corp traded for a price of $48.2 per share and a market cap of $18.56Bil. The stock has returned -16.60% 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, Duke Realty Corp has a price-earnings ratio of 19.44, a price-book ratio of 2.94, a price-earnings-to-growth (PEG) ratio of 1.87, a EV-to-Ebitda ratio of 15.77 and a price-sales ratio of 16.85.
The price-to-GF Value ratio is 0.99, earning the stock a GF Value rank of 5.
Prologis Inc
During the quarter, APG Asset Management US Inc. bought 300,812 shares of NYSE:PLD for a total holding of 20,247,136. The trade had a 0.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $110.78.
On 02/18/2023, Prologis Inc traded for a price of $125.32 per share and a market cap of $115.72Bil. The stock has returned -10.33% 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, Prologis Inc has a price-earnings ratio of 29.49, a price-book ratio of 2.18, a price-earnings-to-growth (PEG) ratio of 4.47, a EV-to-Ebitda ratio of 24.24 and a price-sales ratio of 17.03.
The price-to-GF Value ratio is 0.92, earning the stock a GF Value rank of 6.
Simon Property Group Inc
During the quarter, APG Asset Management US Inc. bought 224,796 shares of NYSE:SPG for a total holding of 884,587. The trade had a 0.21% impact on the equity portfolio. During the quarter, the stock traded for an average price of $111.14.
On 02/18/2023, Simon Property Group Inc traded for a price of $123.66 per share and a market cap of $40.43Bil. The stock has returned -9.13% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Simon Property Group Inc has a price-earnings ratio of 18.97, a price-book ratio of 13.06, a EV-to-Ebitda ratio of 14.34 and a price-sales ratio of 7.65.
The price-to-GF Value ratio is 1.06, earning the stock a GF Value rank of 5.
Gulfport Energy Corp
APG Asset Management US Inc. reduced their investment in NYSE:GPOR by 248,742 shares. The trade had a 0.18% impact on the equity portfolio. During the quarter, the stock traded for an average price of $82.78.
On 02/18/2023, Gulfport Energy Corp traded for a price of $62.11 per share and a market cap of $1.20Bil. The stock has returned 0.19% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Gulfport Energy Corp has a price-earnings ratio of 7.31, a price-book ratio of 0.01 and a EV-to-Ebitda ratio of -87.49.
The price-to-GF Value ratio is 0.00, 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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