What companies is HM1 currently invested in and how can they be measured?
Summary: HM1 was devised to be a concentrated portfolio of long-only positions in 25-35 Australian and globally listed securities based on the highest conviction ideas from 7 Core fund managers and ~12 Sohn Conference fund managers. It now also has small allocations to unlisted companies and a global equities fund. In this post I will attempt to maintain an ordered list of its full portfolio and links to data about the companies (market cap, profitability, share price volatility, etc).
Details:
- The ASX monthly Investment Updates now disclose the top 10 Core Portfolio investments (~50% of the portfolio) and 12 Conference Portfolio holdings (~30% of the portfolio). They occasionally also mention other current Core Portfolio investments not in the top 10.
- All Conference fund manager selections are disclosed in an ASX announcement each November. The latest was 21 Nov 2022. Conference picks can be scaled back or sold completely before the 12 month period is up (see Jan 2023 report). *Note: Eurofins is a Conference pick not Core.
- New unlisted investments are usually disclosed via a specific ASX announcement or in an Investment Update. The Core fund manager not using 3 picks but a single global fund is Regal.
Core Portfolio Managers: Caledonia, Cooper, Magellan, Munro, Regal, Tribeca, TDM
1. Ordered list of HM1 Core Portfolio holdings by estimated weight (~51%)
Name; Ticker, Fund Manager; Mcap/Earnings; US$ Mcap (19 Jun 2023)
Formula One Group; nasdaq:fwonk; Munro; Mcap;Earnings;
Microsoft; nasdaq:msft; Magellan; Mcap;Earnings; $2,577b
Zillow; nasdaq:z; Caledonia; Mcap;Earnings; $10.86b
Intercontinental Exchange; nyse:ice; Magellan; Mcap;Earnings; $62.5b
Mastercard; nyse:ma; Magellan; Mcap;Earnings; $357b
Block; nyse:sq; TDM; Mcap;Earnings; $40.2b
BHP; asx:bhp; Tribeca; Mcap;Earnings; $160b
Guzman Y Gomez; Unlisted; TDM;
ROKT; Unlisted; TDM;
Opthea; asx:opt; Regal; Mcap;Earnings; $0.18b
Just Eat Takeaway; ams:tkwy; Caledonia; Mcap;Earnings; $3.25b
NextDC; asx:nxt; Regal; Mcap;Earnings; $4.63b
Taiwan Semiconductor; nyse:tsm; Munro; Mcap;Earnings; $542b
Amazon; nasdaq:amzn; ?; Mcap;Earnings; $1,287b
De Grey Mining; asx:deg; Regal;
? Mineral Resources; asx:min
2. Ordered List of HM1 Conference Portfolio holdings by estimated weight (~31%)
Name; Ticker, Fund Manager; Mcap/Earnings; US$ Mcap (19 Jun 2023)
New Relic; nyse:newr; Eminence Capital; Mcap;Earnings; $4.69b
ASML Holdings; ams:asml; Munro; Mcap;Earnings; $288.4b
Nike; nyse:nke; Claremont; Mcap;Earnings; $174.6b
Eurofins; epa:erf; Cooper; Mcap;Earnings; $12.98b
FDJ; epa:fdj; Perpetual; Mcap;Earnings; $7.7b
Darling Ingredients; nyse:dar; Firetrail; Mcap;Earnings; $10.39b
AMP; asx:amp; Samuel Terry; Mcap;Earnings; $2.6b
Keywords Studios; lon:kws; Fact Cap; Mcap;Earnings; $1.96b
3. Fund Manager Links
Core Fund Managers
> YouTube
> YouTube
> Insights
> Cooper Investors Global Equities Fund (Unhedged)
d. Tribeca Investment Partners
f. Caledonia
> YouTube
4. Market Cap, Revenue, Earnings, P/E, Operating Margin, etc
In the above lists I provide a link to Mcap/Earnings (Formula One Group example). Google Finance, YCharts and other free finance data sites are useful for metrics.
Notes:
- Market cap is more useful than share price history as it includes share count effects.
- Total Return charts include dividends and are more useful than price for performance comparison.
Comments
Post a Comment