STEADFAST CAPITAL MANAGEMENT LP recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
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.
Steadfast Capital Management is a hedge fund sponsor owned by its employees. The company is based out of New York City and operates through a limited partnership structure with Robert Stanley Pitts, the President of the company, holdings the controlling majority ownership in the company. The company was founded in 1995 and has additional locations in Locust Valley, New York and Columbus, Ohio. Steadfast Capital Management currently has 35 employees with 20 of them being investment professionals. The company has a long term perspective and focuses on the minimization of risk and avoidance of large draw downs, primarily allocating its assets in the public traded securities market. Steadfast Capital Management utilizes a fundamental approach based on intensive internal research, highly diversifying its holdings to lower possible risk while increasing good performance on returns. Steadfast Capital Management invests most heavily in the information technology sector, which alone makes up almost a quarter of its total asset allocations, and the company also invests in the health care, energy, consumer discretionary, utilities and telecommunications, materials, and finance sectors, among others to a lesser degree, in order of decreasing allocation. Steadfast Capital Management currently holds over $10.6 billion in total assets under management spread across 4 accounts, all of which are discretionary. Steadfast Capital Management has its top holdings allocated in Actavis Plc, which alone makes up 10% of its total asset allocations, Cheniere Energy Inc., Williams Cos. Northstar, and Apple Inc. with its top 10 holdings alone making up almost half of its total asset allocations. Although its total number of accounts held has not changed in the most recent five years, its total assets under management has been increasing, growing from $5.7 billion back in 2012 to almost twice that amount today. All of Steadfast Capital Management’s clients are currently pooled investment vehicles.
As of the latest 13F report, the guru’s equity portfolio contained 36 stocks valued at a total of $3.70Bil. The top holdings were LNG(10.26%), MSFT(6.83%), and WDAY(6.67%).
According to GuruFocus data, these were STEADFAST CAPITAL MANAGEMENT LP’s top five trades of the quarter.
Constellation Energy Corp
The guru established a new position worth 2,741,315 shares in NAS:CEG, giving the stock a 6.16% weight in the equity portfolio. Shares traded for an average price of $73.71 during the quarter.
On 11/15/2022, Constellation Energy Corp traded for a price of $93.16 per share and a market cap of $30.58Bil. The stock has returned 0.00% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, Constellation Energy Corp has a price-book ratio of 2.83, a EV-to-Ebitda ratio of 15.59 and a price-sales ratio of 1.38.
Elevance Health Inc
STEADFAST CAPITAL MANAGEMENT LP reduced their investment in NYSE:ELV by 448,531 shares. The trade had a 4.76% impact on the equity portfolio. During the quarter, the stock traded for an average price of $478.49.
On 11/15/2022, Elevance Health Inc traded for a price of $482.605 per share and a market cap of $115.16Bil. The stock has returned 12.14% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Elevance Health Inc has a price-earnings ratio of 18.92, a price-book ratio of 3.20, a price-earnings-to-growth (PEG) ratio of 1.48, a EV-to-Ebitda ratio of 12.51 and a price-sales ratio of 0.76.
The price-to-GF Value ratio is 1.01, earning the stock a GF Value rank of 5.
Fidelity National Information Services Inc
STEADFAST CAPITAL MANAGEMENT LP reduced their investment in NYSE:FIS by 1,681,679 shares. The trade had a 3.39% impact on the equity portfolio. During the quarter, the stock traded for an average price of $93.12.
On 11/15/2022, Fidelity National Information Services Inc traded for a price of $65.06 per share and a market cap of $38.84Bil. The stock has returned -41.85% 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, Fidelity National Information Services Inc has a price-earnings ratio of 42.78, a price-book ratio of 0.86, a EV-to-Ebitda ratio of 10.22 and a price-sales ratio of 2.76.
The price-to-GF Value ratio is 0.47, earning the stock a GF Value rank of 4.
Deckers Outdoor Corp
STEADFAST CAPITAL MANAGEMENT LP reduced their investment in NYSE:DECK by 522,732 shares. The trade had a 2.93% impact on the equity portfolio. During the quarter, the stock traded for an average price of $312.24.
On 11/15/2022, Deckers Outdoor Corp traded for a price of $335.26 per share and a market cap of $8.88Bil. The stock has returned -19.72% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Deckers Outdoor Corp has a price-earnings ratio of 20.46, a price-book ratio of 5.86, a price-earnings-to-growth (PEG) ratio of 0.37, a EV-to-Ebitda ratio of 14.20 and a price-sales ratio of 2.68.
The price-to-GF Value ratio is 0.92, earning the stock a GF Value rank of 6.
Burlington Stores Inc
During the quarter, STEADFAST CAPITAL MANAGEMENT LP bought 873,855 shares of NYSE:BURL for a total holding of 1,556,223. The trade had a 2.64% impact on the equity portfolio. During the quarter, the stock traded for an average price of $145.63.
On 11/15/2022, Burlington Stores Inc traded for a price of $156.06 per share and a market cap of $10.27Bil. The stock has returned -42.12% 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, Burlington Stores Inc has a price-earnings ratio of 64.73, a price-book ratio of 16.20, a EV-to-Ebitda ratio of 25.00 and a price-sales ratio of 1.20.
The price-to-GF Value ratio is 0.56, earning the stock a GF Value rank of 8.
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.
Want to provide feedback on this article? Have questions or concerns? Get in touch with us here, or email us at [email protected]!
This article is general in nature and does not represent the opinions of GuruFocus or any of its affiliates. This article is not intended to be financial advice, nor does it constitute investment advice or recommendations. It was written without regard to your individual situation or financial goals. We aim to bring you fundamental, data-driven analysis, The information on this site is in no way guaranteed for completeness, accuracy or in any other way.
