Insight into the Latest Investment Moves by Value Investing Stalwart Jerome Dodson (Trades, Portfolio)
Jerome Dodson (Trades, Portfolio), a seasoned investor known for his value-driven approach and ethical investment philosophy, has revealed his latest portfolio adjustments in the N-PORT filing for the fourth quarter of 2023. As the founder of Parnassus Investments, Dodson has a storied career that includes pioneering socially responsible investing. His investment strategy is characterized by a focus on mid-cap companies with strong competitive advantages, exceptional management, and robust environmental, social, and governance (ESG) practices. Dodson's approach is also marked by an avoidance of highly leveraged companies and those in industries such as fossil fuels and tobacco.
Summary of New Buys
Jerome Dodson (Trades, Portfolio)'s portfolio welcomed a total of 5 new stocks in the recent quarter, with the following being the most significant additions:
- Datadog Inc (DDOG, Financial), with 144,377 shares, making up 2.13% of the portfolio and valued at $17.52 million.
- Mettler-Toledo International Inc (MTD, Financial), comprising 12,755 shares, representing 1.88% of the portfolio, with a total value of $15.47 million.
- Adyen NV (ADYEY, Financial), with 720,125 shares, accounting for 1.13% of the portfolio and a total value of $9.28 million.
Key Position Increases
Jerome Dodson (Trades, Portfolio) also bolstered his stakes in 5 existing holdings, with the most notable increases being:
- Old Dominion Freight Line Inc (ODFL, Financial), with an additional 24,565 shares, bringing the total to 60,229 shares. This represents a 68.88% increase in share count, a 1.21% impact on the current portfolio, and a total value of $24.41 million.
- The Trade Desk Inc (TTD, Financial), with an additional 68,290 shares, bringing the total to 263,326. This adjustment signifies a 35.01% increase in share count, with a total value of $18.95 million.
Summary of Sold Out Positions
During the fourth quarter of 2023, Jerome Dodson (Trades, Portfolio) completely exited 3 holdings, including:
- Veeva Systems Inc (VEEV, Financial): All 88,566 shares were sold, resulting in a -2.54% impact on the portfolio.
- Splunk Inc (SPLK, Financial): The entire stake of 123,521 shares was liquidated, causing a -2.54% impact on the portfolio.
Key Position Reductions
Reductions were also made in 5 stocks within Dodson's portfolio. The most significant reductions include:
- Ball Corp (BALL, Financial) by 216,063 shares, resulting in a -59.73% decrease in shares and a -1.51% impact on the portfolio. The stock traded at an average price of $51.57 during the quarter and has returned 32.59% over the past 3 months and -1.65% year-to-date.
- Lululemon Athletica Inc (LULU, Financial) by 13,469 shares, leading to a -28.63% reduction in shares and a -0.73% impact on the portfolio. The stock's average trading price was $432.06 during the quarter, with returns of 18.28% over the past 3 months and -6.90% year-to-date.
Portfolio Overview
At the close of the fourth quarter of 2023, Jerome Dodson (Trades, Portfolio)'s portfolio comprised 43 stocks. The top holdings included 4.91% in Guidewire Software Inc (GWRE, Financial), 3.7% in CoStar Group Inc (CSGP, Financial), 3.64% in Agilent Technologies Inc (A, Financial), 3.61% in Equifax Inc (EFX, Financial), and 3.3% in IDEXX Laboratories Inc (IDXX, Financial). The investments are primarily concentrated across 7 industries: Technology, Industrials, Healthcare, Consumer Cyclical, Financial Services, Basic Materials, and Real Estate, reflecting Dodson's strategic focus on diversification and quality.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
