Elfun Trusts’ Top 5 Trades in the 2nd Quarter


Elfun Trusts
(Trades, Portfolio), part of Boston-based State Street Global Advisors, disclosed this week that its top-five trades during the second quarter included new positions in Parker Hannifin Corp. (PH, Financial) and Splunk Inc. (SPLK, Financial), the closure of its position in Trane Technologies PLC (TT, Financial), and position reductions in Elanco Animal Health Inc. (ELAN, Financial) and Applied Materials Inc. (AMAT, Financial).

William Sandow and Christopher Sierakowski started managing the fund following David Carlson’s departure in 2019. The fund seeks long-term capital appreciation by investing in the common and preferred stock of companies that have the potential to pay dividends in the future.

1423316694402715648.png

As of June 30, the fund’s $3.84-billion equity portfolio contains 45 stocks, with two new positions and a turnover ratio of 4%. The top-four sectors in terms of weight are technology, financial services, communication services and health care, with weights of 25.86%, 17.16%, 15.25% and 11.35%.

1423320409817862144.png

Parker Hannifin

The fund purchased 191,700 shares of Parker Hannifin (

PH, Financial), handing the position 1.53% weight in the equity portfolio. Shares averaged $309.74 during the second quarter; the stock is significantly overvalued based on Thursday’s price-to-GF-Value ratio of 1.64.

1423345486223495168.png

GuruFocus ranks the Cleveland-based industrial conglomerate’s profitability 8 out of 10 on several positive investing signs, which include a 4.5-star business predictability rank and an operating margin that has increased approximately 4.20% per year on average over the past five years and is outperforming more than 83% of global competitors.

1423347469906989056.png

Gurus with positions in Parker Hannifin include


Diamond Hill Capital
(Trades, Portfolio) and
Andreas Halvorsen
(Trades, Portfolio).

1423348153263968256.png

Splunk

The fund purchased 205,422 shares of Splunk (

SPLK, Financial), giving the position 0.77% weight in the equity portfolio. Shares averaged $127.52 during the second quarter; the stock is fairly valued based on Thursday’s price-to-GF-Value ratio of 0.95.

1423348805989945344.png

1423348712217890816.png

GuruFocus ranks the San Francisco-based software company’s financial strength 4 out of 10 on several warning signs, which include a low Piotroski F-score of 1 and a weak Altman Z-score of 2.89.

1423350553982914560.png

Gurus with holdings in Splunk include


PRIMECAP Management
(Trades, Portfolio),
Jim Simons
(Trades, Portfolio)’ Renaissance Technologies and
Pioneer Investments
(Trades, Portfolio).

1423361579365289984.png

Trane Technologies

The fund sold 244,500 shares of Trane Technologies (

TT, Financial), scrapping 1.13% of its equity portfolio. Shares averaged $177.90 during the second quarter; the stock is significantly overvalued based on Thursday’s price-to-GF-Value ratio of 1.79.

1423363547378864128.png

GuruFocus ranks the Irish HVAC systems company’s profitability 7 out of 10 on several positive investing signs, which include a high Piotroski F-score of 7 and profit margins and returns outperforming more than 70% of global competitors.

1423366005995982848.png


Al Gore
(Trades, Portfolio)’s Generation Investment Management has a holding in Trane.

1423366293712654336.png

Elanco Animal Health

The fund sold 881,900 shares of Elanco Animal Health (

ELAN, Financial), discarding 36.06% of the stake and 0.72% of the equity portfolio. Shares averaged $32.91 during the second quarter.

1423366808089513984.png

GuruFocus ranks the Greenfield, Indiana-based animal health company’s financial strength 3 out of 10 on several warning signs, which include a low Piotroski F-score of 2, a weak Altman Z-score of 1.33, and debt ratios underperforming more than 80% of global competitors.

1423371197709668352.png

Applied Materials

The fund sold 140,600 shares of Applied Materials (

AMAT, Financial), removing 16.84% of the position and 0.52% of the equity portfolio. Shares averaged $134.34 during the second quarter; the stock is significantly overvalued based on Thursday’s price-to-GF-Value ratio of 1.85.

1423387079408209920.png

1423372011668885504.png

GuruFocus ranks the Santa Clara, California-based semiconductor company’s profitability 9 out of 10 on several positive investing signs, which include a high Piotroski F-score of 8 and profit margins and returns outperforming more than 89% of global competitors.

1423382646683193344.png

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top