By: Manisha Sethi Oct. 09, 2018
On July 9, 2018, Farmers Trust Company disclosed its SEC 13F filings for Q2 2018 and reported a portfolio value of $330.23 million, with its top 10 holdings constituting 25.14% of the portfolio. The firm’s top holdings include JPMorgan Chase & Co. (JPM), Apple, Inc. (AAPL), Microsoft Corp. (MSFT), PepsiCo, Inc. (PEP), and Exxon Mobil Corp. (XOM). Of these, its highest holding is 98,355 shares of JPMorgan Chase & Co. (JPM), amounting to $10.25 million.
Farmers Trust Company is licensed by the Ohio Division of Financial Institutions as a bank authorized to conduct trust businesses and exercise full fiduciary powers. The Company offers services ranging from estate settlement, living trusts, testamentary trusts, charitable trusts, charitable endowments, to employee benefit plans. In addition, it provides tax and estate planning services to its clients. They work closely with their attorneys, accountants, and insurance professionals to achieve a comprehensive financial strategy.
Raltin recently analyzed the investor’s new buys from Q1 2014 to Q1 2018 and calculated their internal rate of return (IRR). The findings show that 30 out of 72 new stock purchases outperform S&P 500 by more than 10%, while only 25 underperform the index by the same margin. The details of Raltin’s methodology can be found here. The table below shows the performance of the new purchases against S&P 500.
|S&P outperformance category||Number of new stock purchases||Total new purchases (%)|
|10 to 20%||12||16.67|
|0 to 10%||7||9.72|
|-10 to 0%||10||13.89|
|-20 to -10%||12||16.67|
In this quarter, the firm bought 13 new stocks across various sectors. The following table lists the investor’s new purchases for Q2 2018 as well as the number of shares and holding values.
|Stocks||Number of shares||Holding value ($1,000)|
|MetLife, Inc. (MET)||69,069||3,011|
|CVS Health Corporation (CVS)||38,897||2,503|
|Eli Lilly & Co. (LLY)||28,200||2,406|
|Edison International (EIX)||30,401||1,923|
|Twitter, Inc. (TWTR)||37,960||1,658|
|Trinity Industries, Inc. (TRN)||16,023||549|
|Kroger Co. (KR)||8,185||232|
|Twenty-First Century Fox, Inc. (FOX)||4,564||227|
|Amazon.com, Inc. (AMZN)||133||226|
|United Parcel Service, Inc. (UPS)||1,912||203|
|First Majestic Silver Corp. (AG)||10,000||76|
|TerrAscend Corp. (TRSSF)||10,000||32|
|CV Sciences, Inc. (CVSI)||14,700||24|
The next table presents Farmers Trust Company’s portfolio value for past 5 quarters, that is, from Q1 2017. In addition, it shows the top holdings that outperform S&P 500 for each quarter. The data suggest that, among the various new purchases, PayPal Holdings, Inc. (PYPL), Palo Alto Networks, Inc. (PANW), Yum China Holdings, Inc. (YUMC), Deere & Co. (DE), and TE Connectivity Ltd. (TEL) outperform the index by more than 20%.
|Period||Total portfolio value ($Mn)||Top holdings (ticker, % IRR difference from S&P 500)|
|Q1 2017||284.2||PayPal Holdings, Inc. (PYPL, 64.97), Palo Alto Networks, Inc. (PANW, 49.64), V.F. Corp. (VFC, 23.29)|
|Q4 2016||289.96||Yum China Holdings, Inc. (YUMC, 33.95), Deere & Co. (DE, 32.62), HP Inc. (HPQ, 22.27)|
|Q3 2016||291.38||Cummins, Inc. (CMI, 15.02), Franklin Resources, Inc. (BEN, 9.01)|
|Q2 2016||307.11||TE Connectivity Ltd. (TEL, 22.34)|
|Q1 2016||312.32||Ingersoll-Rand plc (IR, 16.44)|