PRIMECAP Management's Strategic Moves in Q2 2024: A Closer Look at Eli Lilly's Position Adjustment

GuruFocus.com08-10

Insight into PRIMECAP Management (Trades, Portfolio)'s Latest 13F Filing and Its Impact on Portfolio Dynamics Founded in 1983 and based in Pasadena, CA, PRIMECAP Management (Trades, Portfolio) ...

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This approach enables the firm to identify undervalued stocks poised for outperformance over a three to five-year period, often starting with sectors that are currently unpopular among investors.Exxon Mobil Corp , purchasing 8,514,677 shares, which now represent 0.71% of the portfolio, valued at approximately $980.21 million.Casey's General Stores Inc , with 63,200 shares, making up about 0.02% of the portfolio, valued at $24.11","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0788109394.HKD":"BGF WORLD ENERGY \"A2\" (HKDHGD) ACC","BK4516":"特朗普概念","LU0278409577.USD":"MANULIFE GLOBAL FUND-GLOBAL RESOURCES FUND \"AA\" (USD) INC","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","GRAL":"GRAIL, Inc.","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","PSQ":"纳指反向ETF","LLY":"礼来","LU2112291526.USD":"BGF WORLD HEALTHSCIENCE \"A4\" (USD) INC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","KLAC":"科磊","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","PXD":"先锋自然资源","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","MSFT":"微软","QLD":"纳指两倍做多ETF","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","MU":"美光科技","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD",".IXIC":"NASDAQ Composite","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","BK4538":"云计算","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","SQQQ":"纳指三倍做空ETF","LU0079474960.USD":"联博美国增长基金A","XOM":"埃克森美孚","SWAV":"Shockwave Medical Inc .","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","TQQQ":"纳指三倍做多ETF","QID":"纳指两倍做空ETF","BK4097":"系统软件","LU1061106388.HKD":"BGF WORLD HEALTHSCIENCE \"A2\" (HKDHDG) ACC","ILMN":"Illumina","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","BK4512":"苹果概念","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","CASY":"Caseys General Stores","AMGN":"安进","LU0097036916.USD":"贝莱德美国增长A2 USD"},"translate_title":"PRIMECAP管理层2024年第二季度的战略举措：仔细观察礼来公司的仓位调整","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMGN":1,"XOM":1,"SWAV":1,"PXD":1,"LLY":1,"KLAC":1,"ILMN":1,"GRAL":1,"CASY":1,".IXIC":0.9,"MSFT":0.7,"MU":0.7,"SQQQ":0.6,"TQQQ":0.6,"PSQ":0.6,"QID":0.6,"QLD":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"Insight into PRIMECAP Management (Trades, Portfolio)'s Latest 13F Filing and Its Impact on Portfolio Dynamics\n\nFounded in 1983 and based in Pasadena, CA, PRIMECAP Management (Trades, Portfolio) operates as an independent investment management firm, focusing on U.S.-centric equity portfolios. The firm is renowned for its commitment to fundamental research, individual decision-making, a long-term investment horizon, and a value-focused approach. PRIMECAP's investment strategy is characterized by a multi-counselor model, allowing each portfolio manager autonomy over distinct segments of the portfolio. This approach enables the firm to identify undervalued stocks poised for outperformance over a three to five-year period, often starting with sectors that are currently unpopular among investors.\n\nSummary of New Buys\nDuring the second quarter of 2024, PRIMECAP Management (Trades, Portfolio) expanded its portfolio by adding eight new stocks. Noteworthy new acquisitions include:\n\nExxon Mobil Corp (NYSE:XOM), purchasing 8,514,677 shares, which now represent 0.71% of the portfolio, valued at approximately $980.21 million.\nCasey's General Stores Inc (NASDAQ:CASY), with 63,200 shares, making up about 0.02% of the portfolio, valued at $24.11 million.\nGRAIL Inc (NASDAQ:GRAL), acquiring 1,865,276 shares, also accounting for 0.02% of the portfolio, with a total value of $28.67 million.\n\nKey Position Increases\nPRIMECAP Management (Trades, Portfolio) also significantly increased its stakes in 96 stocks. Highlights include:\n\nA substantial increase in Illumina Inc (NASDAQ:ILMN) shares, adding 1,997,010 shares for a total of 2,428,760 shares, marking a 462.54% increase and impacting the portfolio by 0.15%, valued at $253.51 million.\nPayPal Holdings Inc (NASDAQ:PYPL) saw an addition of 3,184,160 shares, bringing the total to 4,946,460 shares, a 180.68% increase, valued at $287.04 million.\n\nSummary of Sold Out Positions\nIn Q2 2024, PRIMECAP Management (Trades, Portfolio) exited 11 positions entirely, including:\n\nPioneer Natural Resources Co (PXD), selling all 4,342,556 shares, impacting the portfolio by -0.85%.\nShockwave Medical Inc (SWAV), liquidating 276,770 shares, with a -0.07% portfolio impact.\n\nKey Position Reductions\nSignificant reductions were made in 188 stocks. The most notable reductions were:\n\nEli Lilly and Co (NYSE:LLY), with a reduction of 1,636,108 shares, decreasing the stake by 7.7% and impacting the portfolio by -0.95%. The stock traded at an average price of $799.92 during the quarter and has seen a 15.90% return over the past three months and a 53.68% year-to-date return.\nWells Fargo & Co (NYSE:WFC), reducing the position by 5,216,519 shares, a 12.3% decrease, impacting the portfolio by -0.23%. The stock's average trading price was $59.04 during the quarter, with a -13.20% return over the past three months and a 9.46% year-to-date return.\n\nPortfolio Overview\nAs of the second quarter of 2024, PRIMECAP Management (Trades, Portfolio)'s portfolio comprised 332 stocks. The top holdings included 12.86% in Eli Lilly and Co (NYSE:LLY), 3.56% in Micron Technology Inc (NASDAQ:MU), 3.29% in KLA Corp (NASDAQ:KLAC), 3.27% in Amgen Inc (NASDAQ:AMGN), and 3.25% in Microsoft Corp (NASDAQ:MSFT). The portfolio is well-diversified across all 11 industries, including Technology, Healthcare, Industrials, and more.\n\n\nThis article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2458523470"}