저자: 미상 · 외국인
요약 보기
리루(Li Lu)의 13F 상위 8개 종목(옥시덴털, 애플, East West Bank, 버크셔 해서웨이 B, 알파벳 A/C, 중국우정저축은행, 뱅크오브아메리카)을 소개. 자본배분·자사주 매입·배당 관점에서 저평가/적정가치 대비 상승여력을 제시하나, 영상 내 구체적 1~3개월 방향 예측은 없음.
다듬은 글
leelu owns eight stocks reported in his Himalaya Capital portfolio on his 13f worth $ 3.17 billion in this video we're covering his eight biggest positions starting with his newest stock by ocidental petroleum right now ocidental makes up 3.6% of L portfolio and he bought this in the last quarter oxy's owned by four super investors and this is led by Prim Wata who has 32% of his Fairfax portfolio in the business for Warren Buffett who's the biggest shareholder and owns more than3 % of the company it makes up just under 6% of his us listed assets today accidental which trades under stock ticker oxy is a 50 billion oil and gas company that's trading just $4 above its 52e low accidental nearly went bankrupt during the pandemic after its deal to acquire anad Darko petroleum back in 2019 this is how Buffett first entered the business and it was largely because of these assets that the company stayed afloat since then they rebounded strongly and in 2022 they were the top perform stock in the S&P 500 today ocidental is in the process of growing their business even farther through the acquisition of crown Rock which it expects to pay $12 billion for unlike other recent oil and gas Acquisitions this is being paid for mostly in cash instead of stock the thesis for oxy largely comes down to Capital allocation the company's not reinvesting nearly at the same levels of capex that it had in the previous decade and it's using most of its cash flows to return these to shareholders notably they've done this in a few ways first they've significant L cut their debt since that anad Darko acquisition next they've been buying back shares in the last couple of years in addition today they pay 1.7% dividend yield and they grew this by 25% last year alone accidental seems to trade below its projected free cash flows and where it has historically still a guru Focus value for the company only comes in at $55 per share which is just up $4 from their current stock price their cash flow numbers look a lot better with as much as a 60% upside and an 8 $86 current fair value though this doesn't account for a lot of the Cycles we see in the oil and gas industry analysts are very bullish on the company as well with a $69 Target price and a 28% upside leelu is a value investor who founded the hedge fund Himalaya capital and has 20 billion dollar of assets under management he was born in China but lives in the United States where he studied at Columbia University it was here that he first discovered investing by attending a lecture from Warren Buffett which inspired him to buy his first stocks Charlie Munger said that Lee was the only outside investor he ever trusted with his money Leu rewarded this trust by making Munger more than half a billion dollars there were rumors that lelu would take over Warren Buffett's position at Burkshire hathway once Buffett stepped down but in 20110 he withdrew himself from consideration for the job next at number six we have apple this makes up 6 and a qu% of lilu's us listed assets here again we see big overlap with Warren Buffett who has 30% of berkshire's us assets invested into Apple this comes even as Buffett cut his Apple position by half in the last quarter alone despite Buffett's sales Apple's been trending higher and it's trading for all-time highs today it's owned by 18 different super investors apple is the largest company in the world with nearly a3.5 trillion doll market cap and it's trading just $3 below its alltime and 52e highs Apple's perhaps the top performing stock of all time and in the last decade they've completely crushed the market in that time there's been a lot to like in the company's numbers where they earned very high Returns on Capital and generated a ton of free cash flow amongst growing sales however today they have some lofty valuations and their sales seem to have about flatlined the real draw to Apple for Warren Buffett was they were returning most of this cash flow to shareholders again as both dividends and BuyBacks Apple's reduced their share count from 251 million in 2013 down to 155 million in 2023 while it's not always thought of like this Apple's actually a dividend growth stock as well they've grown their dividends 12 years in a row today they just pay a modest 0.43% dividend yield but they did grow this by 4% last year Apple's a wonderful business which is reflected in their numbers however their valuations are where the company can get into trouble it's not enough just to know that something's wonderful you also have to understand its fair value today Apple's trading way ahead of all of their previous historical valuations that's largely why a GF value for the company only comes in at $185 per share that's roughly where Buffett was selling earlier in 2024 and as Apple's climbed higher than this he may have continued his sales at this point Apple's free cash flow num support a 34% downside and a $152 fair value still analysts are forever bullish on the company even with Buffett selling and they have a 17 1.
12% upside and a $272 Target price want to support Global value click the link to check out interactive brokers are brok ER affiliate even by just clicking the link to check out their site you support the channel the next stock on our list at number six was lilu's most recent buy until accidental this is East West Bank Corp the only US Bank that has a Chinese banking license leelu is the only super investor with the holding in the company and it makes up nearly 8% of his 13f assets East West is a 12 billion California based bank that's today is trading at its 52e highs lelu originally invested in this company back in 20 13 amid the other Regional bank failures East West has been a strong performer in their stock a couple different times in their period first from the late '90s until the early 2000s then again from the global financial crisis until more recently the numbers show pretty consistent growth and strong earnings power that has increased since the pandemic the thing to watch out for as a bank is that they've doubled their assets in the last decade as well thankfully the company has median returns that are better than their earning assets growth in the past 10 years added to this East West return returns Capital to shareholders through a 2.42% dividend yield and around a 3% shareholder yield overall today the analyst Target for the price is up around 35% and it comes in at $925 per share today East West trades around its historical sales and gram number valuations this is even as a GF value for the company comes in at $75 per share that's down $15 from their current stock price leelu's Investment Portfolio showcases a strategic selection of companies the top five stocks that we're about to look at reflect lilu's conviction in leading Financial Service and Technology Holdings that are well within his circle of competence fif stock in leelu's portfolio is Burkshire hathway Class B shares these are owned by 19 different super investors and that's led by gu Spear and the Bill and Melinda Gates Foundation trust who both have 21% positions in the company in the case of leelou this makes up 14% of his 13f assets Burkshire MIRS leelu's admiration for Warren Buffett's approach to invest ing it is a diverse array of subsidiaries insurance companies and stock Investments that both offer stability and the potential for Price appreciation since Warren Buffett took over the company in 1965 Burkshire is the best performing stock in the market with so many different companies under their umbrella it's hard to get a good sense of burshire by looking at their Gap numbers we can see a few things though one is that their sales and cash flows have steadily marched upward for most of this time their net incomes are thrown off based on accounting changes back in 2018 that make the company report its net swings in their Equity portfolio notoriously Burkshire doesn't pay dividends still in recent years shareholders have benefited through share Buybacks in The Last 5 Years Warren Buffett's repurchased more than 10% of their shares outstanding alone notably in 2024 he's really slowed the pace of these BuyBacks this corresponds with Burkshire trading at ever higher prices and valuations which may look to be stretched compared to their historical numbers still there's a lot of momentum in Berkshire businesses and that's why their cash flows suggest an upside of 12% from here in a $455 Target price next at stocks number three and four in leelu's portfolio we actually get a two for one he owns alphabets G and G O ogl shares together this is actually a$1 billion holding and it would be the biggest stock that we can see in his portfolio alphabet's owned by 33 different super investors overall and it's the number one super investor owned stock with the go shares he has 21.8% of his listed 13f Assets in alphabet's go shares lelu also leads the way with this making up 18% of his us portfolio these big stakes in the tech giant signal leelu's strong belief in alphabet's enduring strength and leadership in the global web search Market the difference between these shares is the voting rights that come with the class A shares which the C shares don't have otherwise they have the same economic rights the search Giant and owner of YouTube is a $2 trillion business that's trading just $30 below its 52 we and all-time highs today from its initial public offering alphabet has been one of the top performing stocks of the past two decades their numbers have shown strong growth in their sales earnings and cash flows over this time and alphabet has one of the largest cash piles of any company in the world they also earn consistently High Returns on Capital even better for Value investors like L they've started returning Capital to their shareholders this started in 2019 through share BuyBacks that have continued in each year since then for the first time in company history in 20124 alphabet started their dividend today this is just a modest 0.48% dividend yield but with their BuyBacks they have a decent 3% shareholder yield overall compared to some of the other Tech Giants which have seen more stretched valuations recently alphabet looks like it's trading more in line with its historical valuations this appears to be the case as we consider their GF value comes at $161 per share pretty close to their current stock price still their cash flows project an upside as high as 31% and analysts are pretty bullish on the company with a 21% upside and a $200 price Target next it's time for leelu's second biggest stock this is a secret holding that doesn't show up on his 13f in fact we can only see that he owns this business through the company's annual reports postal Savings Bank of China makes up 19% of the portfolio that we can see Le owns this company's one of the largest banking franchises in China and it's focused more on rural areas they rebounded sharply from the pandemic and then have fallen in the past couple of years though 2024 has been a much higher performing year for the stock like the other Bank stock that we just looked at postal savings has demonstrated strong and growing earnings throughout the last decade unlike Bank of America however they have duded shareholders in a handful of years over this period issuing almost as much as 8% of shares in 2023 alone still they do return lots of capital to shareholders and even today they have a 6.1% dividend yield compared to their past it looks like this company could be trading very cheap they're trading for less than half of tangible book and well below their gram number or Peter Lynch value based on their earnings that's especially important as the company even earns above average Returns on equity for a bank these valuations could look very cheap compared to this still this is a foreign listed stock for most investors and You' need to be an expert in Chinese banking to truly understand it today it's Hong Kong traded shares have a GF value that's 21% higher from their current stock price now it's time for the top stock in Le lose portfolio this is his largest 13f holding and it's the biggest company we can see that he owns it's Bank of America he's the largest super investor as a percentage of his portfolio and this company's owned by 13 others notably this was 15% of Warren Buffett's portfolio and he owned 133% of the business until July when he he started selling now he's down to under 10% here again we see a lot of overlap between leelu and Warren Buffett Bank of America is one of the leading financial institutions in the United States and today it's trading just $2 below its 52e high it's a $325 billion company in the past this was a top reformer from the late 1970s until just prior to the global financial crisis then the bottom almost fell out for the company during that time their current CEO Brian Mahan came in around that time and re-engineered a huge turnaround at the company from under a $5 load during the global financial crisis Bank of America's stock is up more than eight times their numbers showcase steady earnings for the business in the last handful of years though the business's earnings May decline with lower yielding long-term held to maturity assets one thing both Buffett and L seem to like about this company is their returning Capital to shareholders that appears to be a common theme throughout most of these businesses Bank of America's bought back shares in more years than not in the past decade also right now they pay an above average 2.42% dividend yield and their dividend growth stock increasing these for 10 years in a row last year they grew their dividend by 8.9% and they have a 5% shareholder yield overall even with Buffett's recent sales Bank of America only seems to be trading slightly ahead of their median price to sales and their gram number today still their GF value only comes in at $385 per share slightly under their current stock price the analysts covering the business are much more bullish with a $54 Target price and a 27% upside now these are the top eight stocks we can see in leelu's portfolio remember this only accounts for $3.1 billion of his $20 billion under management of these companies which is the one you're most interested in let me know in the comments below
Comments 0