By: Manisha Sethi Oct. 09, 2018
On August 15, 2018, Morse Asset Management, Inc., disclosed its SEC 13F filing for Q2 2018 and reported a portfolio value of $364.90 million, of which its top 10 holdings comprise 36.52%. Morse Asset Management, Inc’s, top holdings include Amazon.com, Inc. (AMZN), Facebook, Inc. (FB), Home Depot, Inc. (The) (HD), Micron Technology, Inc. (MU), and NXP Semiconductors N.V. (NXPI). Amazon accounts for 8.51% of the investor’s portfolio with 18,272 shares in the company. The firm’s portfolio largely comprises shares from the technology sector (30.99%).
Morse Asset Management, Inc., is an employee-owned, SEC-registered investment advisory firm headquartered in New York, NY. They specialize in the active management of investment portfolios for individuals and institutions. More specifically, the Company offers portfolio management, equities, growth-investing, risk management, fixed-income, active management, fundamental analysis, quantitative analysis, investment counseling, separate account, wealth management, and asset management services. The portfolios are customized for each client and managed for tax efficiency.
According to a Raltin study, about 57.15% or 56 of Morse Asset Management’s new purchases outperform S&P 500, of which 34 new stocks successfully beat S&P 500 by more than 10%. Only 25.51% or 25 out of 98 new buys (between Q1 2014 and Q1 2018) underperform S&P 500 by the same percentage. Raltin’s detailed methodology used to calculate performance against S&P 500 can be found here. The table below shows the total number of new stock purchases and the various S&P outperformance categories.
|S&P outperformance category||Number of new stock purchases||Total new purchases (%)|
|10 to 20%||15||15.31|
|0 to 10%||22||22.45|
|-10 to 0%||17||17.35|
|-20 to -10%||8||8.16|
The institutional investor bought 9 new stocks in Q2 2018 from various sectors such as transport, healthcare, consumer discretionary, energy, and IT. The following table lists all its new buys for this quarter along with the number of shares and holding values.
|Stocks||Number of shares||Holding value ($1,000)|
|Alaska Air Group, Inc. (ALK)||18,800||1,135|
|Zoetis, Inc. (ZTS)||8,650||737|
|Canada Goose Holdings Inc (GOOS)||4,795||282|
|Veeva Systems Inc. (VEEV)||3,535||272|
|Intuitive Surgical, Inc. (ISRG)||555||266|
|YY Inc. (YY)||2,625||264|
|Enbridge Inc. (ENB)||6,287||224|
|Occidental Petroleum Corp. (OXY)||2,500||209|
|LGI Homes, Inc. (LGIH)||3,580||207|
The following table presents the portfolio value of the fund for Q1 2017, along with the top holdings that outperform S&P 500. In particular, Boeing Company (The) (BA), Micron Technology, Inc. (MU), PayPal Holdings, Inc. (PYPL) successfully outperform the index by a considerable margin.
|Period||Total portfolio value ($Mn)||Top holdings (ticker, % IRR difference from S&P 500)|
|Q1 2017||293.08||Boeing Company (The) (BA, 74.04), Micron Technology, Inc. (MU, 69.05), PayPal Holdings, Inc. (PYPL, 64.97)|