Arizona State Retirement System 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.
The Arizona State Retirement System is the state agency within Arizon that administers a variety of services including pension plan, long term disability plan, retiree health insurance plans and other benefits to qualifying public government workers. The state would begin providing pensions in the same year that Arizona became a state. The Teachers' Retirement System would become established in 1943, providing benefits to all certified, full-time teachers. Arizona State Retirement System would become established in 1953 to provide retirement benefits to state employees and employees of the state's political subdivisions who sign a membership contract. The Arizona State Retirement System Fixed Benefit Plan would be established in 1970 after 80% of positive votes for the new plan from eligible members, and the Arizona State Retirement System currently provides to a variety of members in the State of Arizona including three state universities, community college districts, school districts and charter schools, all 15 counties, most cities and towns, and a variety of special districts. The system has a variety of investment goals including maximizing fund returns, achieving a 75th percentile rate of return compared to peers, maintaining long-term fund rates of return equal to or greater than the actuarial assumed interest rate, reaching long-term economic and actuarial funded statuses of 100 percent, and mitigating contribution rate volatility. The Arizona State Retirement System allocates its assets mainly in equity and stocks, which alone makes up over half of its total allocations, and also allocations in fixed incomes, making up another quarter of its total, and inflation linked assets and multi-asset class strategies. The system currently has over half a million members with over 200 thousand active members and 690 employer participants. The system has a total fund market value of over $45 billion and is over three quarters funded. It has generated a 10% return rate since its inception and most recently had an 18.6% net return.
As of the latest 13F report, the guru’s equity portfolio contained 2228 stocks valued at a total of $10.36Bil. The top holdings were AAPL(5.49%), MSFT(4.47%), and AMZN(2.03%).
According to GuruFocus data, these were Arizona State Retirement System’s top five trades of the quarter.
Twitter Inc
The guru sold out of their 176,565-share investment in NYSE:TWTR. Previously, the stock had a 0.08% weight in the equity portfolio. Shares traded for an average price of $50.72 during the quarter.
On 02/08/2023, Twitter Inc traded for a price of $53.7 per share and a market cap of $41.09Bil. The stock has returned -2.03% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Twitter Inc has a price-book ratio of 6.98, a EV-to-Ebitda ratio of 66.62 and a price-sales ratio of 8.22.
The price-to-GF Value ratio is 0.93, earning the stock a GF Value rank of 6.
Ferguson PLC
The guru established a new position worth 58,962 shares in NYSE:FERG, giving the stock a 0.07000000000000001% weight in the equity portfolio. Shares traded for an average price of $116.43 during the quarter.
On 02/08/2023, Ferguson PLC traded for a price of $144.41 per share and a market cap of $29.82Bil. The stock has returned -2.31% 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, Ferguson PLC has a price-earnings ratio of 14.41, a price-book ratio of 5.87, a price-earnings-to-growth (PEG) ratio of 1.02, a EV-to-Ebitda ratio of 10.71 and a price-sales ratio of 1.06.
The price-to-GF Value ratio is 1.28, earning the stock a GF Value rank of 1.
Prologis Inc
During the quarter, Arizona State Retirement System bought 50,266 shares of NYSE:PLD for a total holding of 251,490. The trade had a 0.05% impact on the equity portfolio. During the quarter, the stock traded for an average price of $110.78.
On 02/08/2023, Prologis Inc traded for a price of $130.23 per share and a market cap of $120.21Bil. The stock has returned -11.63% 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 24.16, a price-book ratio of 2.74, a price-earnings-to-growth (PEG) ratio of 5.89, a EV-to-Ebitda ratio of 22.12 and a price-sales ratio of 18.14.
The price-to-GF Value ratio is 0.99, earning the stock a GF Value rank of 6.
Duke Realty Corp
The guru sold out of their 105,559-share investment in NYSE:DRE. Previously, the stock had a 0.05% weight in the equity portfolio. Shares traded for an average price of $48.2 during the quarter.
On 02/08/2023, 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.
Apple Inc
Arizona State Retirement System reduced their investment in NAS:AAPL by 20,728 shares. The trade had a 0.03% impact on the equity portfolio. During the quarter, the stock traded for an average price of $142.91.
On 02/08/2023, Apple Inc traded for a price of $152.98 per share and a market cap of $2,420.44Bil. The stock has returned -11.84% 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, Apple Inc has a price-earnings ratio of 25.97, a price-book ratio of 42.73, a price-earnings-to-growth (PEG) ratio of 1.49, a EV-to-Ebitda ratio of 19.52 and a price-sales ratio of 6.38.
The price-to-GF Value ratio is 0.90, earning the stock a GF Value rank of 7.
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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