WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST 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.
Wellcome Trust Ltd is a nonprofit medical research charity organization that is based out of London. The trust was established in 1936 and was originally founded to administrate the fortune of pharmaceutical tycoon Sir Henry Wellcome. Wellcome Trust Ltd acts as the only trustee of the Wellcome Trust and is the charity trustee of the trust under charity law. After Henry Wellcome passed away, Sir Henry Dale would become Chairman and remain chairman for over two decades. Although the company would be negatively affected by WWII and would only have 1.2 million euros in charitable spend in its first two decades of operations, it would become profitable again in the 1950s. Following its founder’s will, the company focused on tropical and veterinary medicine, pharmacy and pharmacology, and the history of medicine with the majority of funds allocated to laboratory buildings, equipment, libraries, and museums. The fund had a focus on talented individuals in the scientific field instead of a broad industry perspective, providing a variety of innovative fellowships and travel grants. By the 1960s, the Wellcome Trust had grown to have operating units on a global scale in India, West Indies, Africa, and Brazil. The current Wellcome Trust Ltd would be created after the company was taken over by Glaxo Plc, prompting the formation of GlaxoWellcome Plc in 1995. The newly merged company would have a new Consitution that would allow the current trustees to become governors and allow it to have greater reach and longer term commitments. Wellcome Trust Ltd currently focuses on investments in public health, neurology, physiological science, immunology, infectious disease, and gene and cells research. The company invests most heavily in the information technology sector, which alone makes up over a third of its total asset allocations, and also invests in the finance, making up another quarter of its total allocations, consumer staples, and consumer discretionary sector, among others to a lesser degree, in order of decreasing allocation.
As of the latest 13F report, the guru’s equity portfolio contained 22 stocks valued at a total of $6.76Bil. The top holdings were MSFT(8.69%), V(7.38%), and AAPL(6.34%).
According to GuruFocus data, these were WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST’s top five trades of the quarter.
JPMorgan Chase & Co
The guru sold out of their 2,470,000-share investment in NYSE:JPM. Previously, the stock had a 3.63% weight in the equity portfolio. Shares traded for an average price of $114.76 during the quarter.
On 01/11/2023, JPMorgan Chase & Co traded for a price of $139.2461 per share and a market cap of $408.44Bil. The stock has returned -14.47% 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, JPMorgan Chase & Co has a price-earnings ratio of 11.76, a price-book ratio of 1.60, a price-earnings-to-growth (PEG) ratio of 1.76 and a price-sales ratio of 3.36.
The price-to-GF Value ratio is 0.95, earning the stock a GF Value rank of 6.
Bank of America Corp
The guru sold out of their 8,000,000-share investment in NYSE:BAC. Previously, the stock had a 3.25% weight in the equity portfolio. Shares traded for an average price of $33.43 during the quarter.
On 01/11/2023, Bank of America Corp traded for a price of $34.205 per share and a market cap of $274.37Bil. The stock has returned -28.75% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Bank of America Corp has a price-earnings ratio of 10.82, a price-book ratio of 1.14, a price-earnings-to-growth (PEG) ratio of 2.00 and a price-sales ratio of 3.03.
The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 7.
Mastercard Inc
During the quarter, WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST bought 155,000 shares of NYSE:MA for a total holding of 555,000. The trade had a 0.69% impact on the equity portfolio. During the quarter, the stock traded for an average price of $331.5.
On 01/11/2023, Mastercard Inc traded for a price of $374.96 per share and a market cap of $360.54Bil. The stock has returned 2.93% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Mastercard Inc has a price-earnings ratio of 37.46, a price-book ratio of 56.73, a price-earnings-to-growth (PEG) ratio of 2.57, a EV-to-Ebitda ratio of 28.64 and a price-sales ratio of 16.93.
The price-to-GF Value ratio is 0.76, earning the stock a GF Value rank of 9.
Microsoft Corp
WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST reduced their investment in NAS:MSFT by 150,000 shares. The trade had a 0.5% impact on the equity portfolio. During the quarter, the stock traded for an average price of $264.05.
On 01/11/2023, Microsoft Corp traded for a price of $233.755 per share and a market cap of $1,741.89Bil. The stock has returned -25.01% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 25.18, a price-book ratio of 10.04, a price-earnings-to-growth (PEG) ratio of 1.22, a EV-to-Ebitda ratio of 16.45 and a price-sales ratio of 8.65.
The price-to-GF Value ratio is 0.74, earning the stock a GF Value rank of 10.
Linde PLC
During the quarter, WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST bought 110,000 shares of NYSE:LIN for a total holding of 1,120,000. The trade had a 0.46% impact on the equity portfolio. During the quarter, the stock traded for an average price of $287.21.
On 01/11/2023, Linde PLC traded for a price of $327.585 per share and a market cap of $161.32Bil. The stock has returned -1.26% 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, Linde PLC has a price-earnings ratio of 43.32, a price-book ratio of 4.30, a price-earnings-to-growth (PEG) ratio of 5.55, a EV-to-Ebitda ratio of 17.49 and a price-sales ratio of 4.94.
The price-to-GF Value ratio is 0.99, earning the stock a GF Value rank of 6.
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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