ProShare Advisors LLC recently filed their 13F report for the first quarter of 2023, which ended on 2023-03-31.
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.
ProShare Advisors is an investment management company based out of Bethesda, Maryland. The company was established by cofounders Michael Lynn Sapir and Louis Mark Mayberg and launched its line of ETFs, the ProShares ETFs, in 2006 and since then has grown to become the largest provider of alternative ETFs in the United States. ProShare Advisors invests in a variety of public equity markets, emphasizing its asset allocations in the information technology sector, which alone makes up almost a quarter of its total asset allocations, and also invests in the health care, finance, consumer discretionary, consumer staples, industrials, and energy sectors, among others to a lesser degree, in order of decreasing allocation. The company currently has 113 employees including 40 investment professionals. ProShare Advisors is owned by its employees with the majority shares held by Michael Lynn Sapir, the current CEO of the firm, and Louis Mark Mayberg, the current President of the firm, with the remaining ownership split amongst William Edward Seale, the Chief Economist, Dorot, the Sapir Family Trust, and various key executives. ProShare Advisors currently holds over $23 billion in total assets under management spread across 164 accounts, all of which are discretionary. Although its total number of accounts has been rising in recent years, growing from just over 100 five years ago to its current amount, its total assets under management, although it has grown by over $1 billion from 2010, has been volatile, decreasing to as low as $19.3 billion in 2013 and increasing to as high as $28.9 billion back in 2011. The company provides its services mainly to investment companies, which make up almost two thirds of its entire client base, and also caters to other clients, which makes up the remaining one third of its clientele. ProShare Advisors’s line of ETFs currently includes its Ultra Nasdaq Biotechnology, UltraPro QQQ, Ultra Health Care, and UltraPro S&P 500 offerings, among many others.
As of the latest 13F report, the guru’s equity portfolio contained 1788 stocks valued at a total of $32.72Bil. The top holdings were MSFT(5.57%), AAPL(5.56%), and AMZN(2.61%).
According to GuruFocus data, these were ProShare Advisors LLC’s top five trades of the quarter.
Linde PLC
The guru sold out of their 668,315-share investment in NYSE:LIN. Previously, the stock had a 0.77% weight in the equity portfolio. Shares traded for an average price of $334.89 during the quarter.
On 05/26/2023, Linde PLC traded for a price of $360.21 per share and a market cap of $176.36Bil. The stock has returned 14.61% 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 39.98, a price-book ratio of 4.42, a price-earnings-to-growth (PEG) ratio of 7.14, a EV-to-Ebitda ratio of 18.45 and a price-sales ratio of 5.40.
The price-to-GF Value ratio is 1.05, earning the stock a GF Value rank of 3.
Chubb Ltd
The guru sold out of their 883,356-share investment in NYSE:CB. Previously, the stock had a 0.68% weight in the equity portfolio. Shares traded for an average price of $210.16 during the quarter.
On 05/26/2023, Chubb Ltd traded for a price of $190.59 per share and a market cap of $78.94Bil. The stock has returned -6.81% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Chubb Ltd has a price-earnings ratio of 15.30, a price-book ratio of 1.49, a price-earnings-to-growth (PEG) ratio of 1.04, a EV-to-Ebitda ratio of 12.71 and a price-sales ratio of 1.80.
The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 6.
Pentair PLC
The guru sold out of their 4,031,506-share investment in NYSE:PNR. Previously, the stock had a 0.64% weight in the equity portfolio. Shares traded for an average price of $53.11 during the quarter.
On 05/26/2023, Pentair PLC traded for a price of $57.48 per share and a market cap of $9.48Bil. The stock has returned 17.73% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Pentair PLC has a price-earnings ratio of 19.29, a price-book ratio of 3.38, a price-earnings-to-growth (PEG) ratio of 1.14, a EV-to-Ebitda ratio of 15.62 and a price-sales ratio of 2.23.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 6.
Amcor PLC
The guru sold out of their 14,552,330-share investment in NYSE:AMCR. Previously, the stock had a 0.61% weight in the equity portfolio. Shares traded for an average price of $11.45 during the quarter.
On 05/26/2023, Amcor PLC traded for a price of $9.895 per share and a market cap of $14.56Bil. The stock has returned -21.00% 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, Amcor PLC has a price-earnings ratio of 15.13, a price-book ratio of 3.42, a price-earnings-to-growth (PEG) ratio of 2.16, a EV-to-Ebitda ratio of 10.38 and a price-sales ratio of 1.00.
The price-to-GF Value ratio is 0.71, earning the stock a GF Value rank of 9.
Microsoft Corp
During the quarter, ProShare Advisors LLC bought 647,800 shares of NAS:MSFT for a total holding of 6,319,452. The trade had a 0.59% impact on the equity portfolio. During the quarter, the stock traded for an average price of $255.08.
On 05/26/2023, Microsoft Corp traded for a price of $325.5 per share and a market cap of $2,420.25Bil. The stock has returned 25.35% 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 35.27, a price-book ratio of 12.43, a price-earnings-to-growth (PEG) ratio of 1.71, a EV-to-Ebitda ratio of 23.50 and a price-sales ratio of 11.73.
The price-to-GF Value ratio is 1.01, 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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