EDGEWOOD MANAGEMENT LLC recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, although investors should note that these filings are limited in scope, containing only a snapshot of long position in US-listed stocks and American depositary receipts at the end of the quarter. They do not necessarily include international holdings, short positions or other types of investments. However, even this limited filing can provide valuable information.
Edgewood Management LLC is an investment management company owned by its employees. The company was founded in 1974 with approximately $50 billion in assets under management and 6 employees. Edgewood Management launched its Large Cap Growth product in 1987 and reached $1 billion in total assets under management in 1997 with Alan W. Breed, the son of former president William C. Breed, taking over as president. . The company would reach $2 billion before the turn of the millennium and establish the role of CFO with the addition of Fausto Rotundo, who continues to be CFO today. The company will launch its Edgewood Select Product in 2005 and Edgewood Growth Fund in 2005. By 2007, the company will reach over $5 billion in total assets under management. In 2008, Edgewood Management launched the Luxembourg-based SICAV with its Edgewood US Large Cap Growth Fund. By 2009, its original Edgewood Growth Fund would reach $1 billion in assets. The company will reach the $10 billion mark in total corporate assets by 2014. Edgewood Management currently has over $11 billion in total assets under management spread across nearly 900 accounts, all of which are discretionary. While its total number of accounts has remained relatively stable around the 900 mark in recent years, its total assets under management have experienced significant growth. Edgewood Management currently serves a diverse client base, including individuals and high-net-worth individuals, each of which constitutes approximately one-third of its clients, and corporations or other businesses , pension and income sharing plans, charities, investment companies, and pooled investment vehicles , in descending order of clients. The company invests heavily in the information technology sector, which alone makes up more than a third of its allocations, and also invests in the healthcare, consumer discretionary, financial, and industrial sectors, among others yet at a lower level, to reduce the allocation.
As of the latest 13F report, the guru’s equity portfolio contains 77 stocks worth a total of $33.89Bil. Top holdings are V(7.63%), MSFT(5.95%), and NOW(5.79%).
According to GuruFocus data, these are EDGEWOOD MANAGEMENT LLC’s top five trades of the quarter.
Blackstone Inc
During the quarter EDGEWOOD MANAGEMENT LLC bought 7,331,409 shares of NYSE:BX for a total holding of 7,341,298. The trade has a 1.98% impact on the equity portfolio. During the quarter, the stock traded for an average price of $108.3.
On 08/13/2022, Blackstone Inc traded at a price of $108.79 per share and a market cap of $80.22B. The stock has returned -0.75% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Blackstone Inc has a price-earnings ratio of 19.84, a price-book ratio of 9.35, a price-earnings-to-growth (PEG) ratio of 6.01 and a price-sales ratio of 5.92.
The price-to-GF Value ratio is 0.65, giving the stock a GF Value rank of 8.
ServiceNow Inc
During the quarter EDGEWOOD MANAGEMENT LLC bought 1,401,618 shares of NYSE:NOW for a total holding of 4,122,588. The trade has a 1.97% impact on the equity portfolio. During the quarter, the stock traded for an average price of $477.87.
On 08/13/2022, ServiceNow Inc traded for a price of $506.51 per share and a market cap of $102.32Bil. The stock has returned -12.91% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, ServiceNow Inc has a price-earnings ratio of 567.49, a price-book ratio of 24.88, an EV-to-Ebitda ratio of 147.29 and a price-sales ratio of 15.89.
The price-to-GF Value ratio is 0.73, giving the stock a GF Value rank of 10.
Equinix Inc
EDGEWOOD MANAGEMENT LLC decreased its investment in NAS:EQIX by 1,301,234 shares. Trading has a 1.94% impact on the equity portfolio. During the quarter, the stock traded for an average price of $693.4.
On 08/13/2022, Equinix Inc was trading at a price of $704.56 per share and a market cap of $64.17B. The stock has returned -11.73% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Equinix Inc has a price-earnings ratio of 100.21, a price-book ratio of 6.03, a price-earnings-to-growth (PEG) ratio of 14.32, an EV-to-Ebitda ratio of 27.89 and a price-to-sales ratio of 9.25.
The price-to-GF Value ratio is 0.88, earning the stock a GF Value rank of 7.
Visa Inc
EDGEWOOD MANAGEMENT LLC decreased its investment in NYSE:V by 3,798,233 shares. Trading has a 1.69% impact on the equity portfolio. During the quarter, the stock traded for an average price of $206.91.
On 08/13/2022, Visa Inc traded at a price of $211.33 per share and a market cap of $445.36B. The stock has returned -8.34% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Visa Inc has a price-earnings ratio of 31.18, a price-book ratio of 13.66, a price-earnings-to-growth (PEG) ratio of 2.17, an EV-to-Ebitda ratio of 24.04 and a price-to-sales ratio of 16.19.
The price-to-GF Value ratio is 0.82, earning the stock a GF Value rank of 9.
American Tower Corp
EDGEWOOD MANAGEMENT LLC decreased its investment in NYSE:AMT by 2,904,336 shares. Trading has a 1.46% impact on the equity portfolio. During the quarter, the stock traded for an average price of $250.93.
On 08/13/2022, American Tower Corp traded at a price of $277.72 per share and a market cap of $129.30B. The stock has returned 1.14% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, American Tower Corp has a price-earnings ratio of 45.66, a price-book ratio of 18.60, a price-earnings-to-growth (PEG) ratio of 4.76, an EV-to-Ebitda ratio of 25.92 and a price-to-sales ratio of 12.42.
The price-to-GF Value ratio is 0.93, earning the stock a GF Value rank of 7.
Please note, the figures and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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