PUTNAM INVESTMENTS LLC 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.
Putnam Investments is a private investment management company that was founded in 1937 by George Putnam. The company established one of the first balanced mutual funds, the George Putnam Fund of Boston, now called the George Putnam Balanced Fund, which would grow to hit its $100 million milestone by 1954. Putnam’s son, George Putnam Jr., would take over the company in 1961. The company would grow steadily and begin global expansions in the 1980s, establishing its first international offices in London and Tokyo. International expansion would remain one of its focuses, forming an alliance in 1998 with Nissay Asset Management in 1998 in order to provide its products and services to the Japanese Market which would become a long term investment as the alliance becomes extended through 2020. In 2007, Putnam Investments would be acquired by Power Financial, although retaining its autonomous investing and business activities. Putnam Investments can boast over 75 years of investment experience with a total of $161 billion in assets under management. The company now has over 80 mutual funds and 50 institutional strategies that are diversified and spread across a variegated series of asset classes and investment styles. Putnam Investments currently has 205 investment professionals located internationally in offices in Boston, London, Frankfurt, Tokyo, Sydney, Singapore, and Beijing with a total of over 1700 employees. The company operates through distributing services through intermediary subsidiaries such as Putnam Investment Management, offering its services including equity, fixed income, absolute return, and alternative strategies to its focused markets in North America, Europe, and Asia. Some of the notable mutual funds offered in the Putnam family of funds include Capital Spectrum Fund, Diversified Income Trust, Equity Spectrum Fund, Equity Income fund, and Dynamic Asset Allocation Balanced Fund. The current CEO, Robert Reynolds, was previously the vice chairman and COO of Fidelity Investments and currently acts as the CEO of Great-West Financial in addition to his role at Putnam.
As of the latest 13F report, the guru’s equity portfolio contained 1055 stocks valued at a total of $56.85Bil. The top holdings were MSFT(5.80%), AAPL(3.88%), and WMT(2.09%).
According to GuruFocus data, these were PUTNAM INVESTMENTS LLC’s top five trades of the quarter.
Vornado Realty Trust
During the quarter, PUTNAM INVESTMENTS LLC bought 9,150,636 shares of NYSE:VNO for a total holding of 9,759,379. The trade had a 0.34% impact on the equity portfolio. During the quarter, the stock traded for an average price of $22.9.
On 02/17/2023, Vornado Realty Trust traded for a price of $22.11 per share and a market cap of $4.24Bil. The stock has returned -46.55% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Vornado Realty Trust has a price-book ratio of 0.91, a EV-to-Ebitda ratio of 32.45 and a price-sales ratio of 2.35.
The price-to-GF Value ratio is 0.54, earning the stock a GF Value rank of 4.
Boston Properties Inc
PUTNAM INVESTMENTS LLC reduced their investment in NYSE:BXP by 2,288,260 shares. The trade had a 0.33% impact on the equity portfolio. During the quarter, the stock traded for an average price of $70.89.
On 02/17/2023, Boston Properties Inc traded for a price of $70.44 per share and a market cap of $11.04Bil. The stock has returned -39.06% 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, Boston Properties Inc has a price-earnings ratio of 13.04, a price-book ratio of 1.80, a price-earnings-to-growth (PEG) ratio of 3.95, a EV-to-Ebitda ratio of 11.40 and a price-sales ratio of 3.58.
The price-to-GF Value ratio is 0.61, earning the stock a GF Value rank of 8.
Amazon.com Inc
PUTNAM INVESTMENTS LLC reduced their investment in NAS:AMZN by 1,489,797 shares. The trade had a 0.32% impact on the equity portfolio. During the quarter, the stock traded for an average price of $98.78.
On 02/17/2023, Amazon.com Inc traded for a price of $97.2 per share and a market cap of $996.03Bil. The stock has returned -37.15% 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, Amazon.com Inc has a price-book ratio of 6.79, a EV-to-Ebitda ratio of 28.05 and a price-sales ratio of 1.92.
The price-to-GF Value ratio is 0.49, earning the stock a GF Value rank of 4.
Enterprise Products Partners LP
PUTNAM INVESTMENTS LLC reduced their investment in NYSE:EPD by 6,986,802 shares. The trade had a 0.32% impact on the equity portfolio. During the quarter, the stock traded for an average price of $24.62.
On 02/17/2023, Enterprise Products Partners LP traded for a price of $26.38 per share and a market cap of $57.39Bil. The stock has returned 19.26% 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, Enterprise Products Partners LP has a price-earnings ratio of 10.55, a price-book ratio of 2.18, a price-earnings-to-growth (PEG) ratio of 1.35, a EV-to-Ebitda ratio of 10.38 and a price-sales ratio of 1.01.
The price-to-GF Value ratio is 0.67, earning the stock a GF Value rank of 10.
T-Mobile US Inc
During the quarter, PUTNAM INVESTMENTS LLC bought 1,174,162 shares of NAS:TMUS for a total holding of 3,601,507. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $143.68.
On 02/17/2023, T-Mobile US Inc traded for a price of $149.35 per share and a market cap of $182.11Bil. The stock has returned 19.86% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, T-Mobile US Inc has a price-earnings ratio of 72.50, a price-book ratio of 2.65, a price-earnings-to-growth (PEG) ratio of 10.21, a EV-to-Ebitda ratio of 14.00 and a price-sales ratio of 2.34.
The price-to-GF Value ratio is 1.11, earning the stock a GF Value rank of 5.
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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