Apollo Management Holdings, L.P. recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Apollo Management Holdings acts as an investment advisory holding company based out of New York. The company operates as an indirect subsidiary of Apollo Global Management with itself operating through the numerous subsidiaries that it holds control over. Apollo Management Holdings itself was founded in 2007 and can trace its history back to the establishment of Apollo Advisors in 1990 by Leon Black, who was formerly the head of Drexel's mergers and acquisitions department, after the Collapse of Drexel Burnham Lambert earlier that year. At the end of its first year, the company would have established Apollo Investment Fund L.P. with over $400 million in raised assets. The company would grow and establish various other companies and funds including Apollo Real Estate Advisers, leading to the Apollo Real Estate Investment Fund, Apollo Investment Fund III, and Apollo Investment Fund IV. The company also grew through acquisitions, acquiring various portfolios of assets from the Resolution Trust Corporations, merging with Value Enhancement Funds, and others. Ares Management would be established in 1997 and, by 2002, the company would be formally separated from its parent company. Apollo would continue to expand into the 2000s, especially in the private equity industry, and the company would create Apollo Management Holdings in order to create a management company to complete a private placement of shares instead of going through a public offering. The company did this following the IPOs of The Blackstone Group and Kohlberg Kravis Roberts, seeing how this method would allow it to avoid much of the public scrutiny that the two aforementioned companies had to go through. Apollo Management Holdings currently invests most heavily in the consumer discretionary sector, which alone makes up over half of its total allocated assets, and also invests in the energy and finance sectors, among others to a lesser degree, in order of decreasing allocation.
As of the latest 13F report, the guru’s equity portfolio contained 189 stocks valued at a total of $13.89Bil. The top holdings were ADT(32.55%), SNX(29.06%), and HGV(8.41%).
According to GuruFocus data, these were Apollo Management Holdings, L.P.’s top five trades of the quarter.
ADT Inc
Apollo Management Holdings, L.P. reduced their investment in NYSE:ADT by 110,627,458 shares. The trade had a 6.55% impact on the equity portfolio. During the quarter, the stock traded for an average price of $8.890000000000001.
On 02/17/2023, ADT Inc traded for a price of $8.369999999999999 per share and a market cap of $7.65Bil. The stock has returned 11.88% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, ADT Inc has a price-book ratio of 2.38, a EV-to-Ebitda ratio of 8.72 and a price-sales ratio of 1.21.
The price-to-GF Value ratio is 0.98, earning the stock a GF Value rank of 6.
Jackson Financial Inc
Apollo Management Holdings, L.P. reduced their investment in NYSE:JXN by 5,992,570 shares. The trade had a 1.32% impact on the equity portfolio. During the quarter, the stock traded for an average price of $34.74.
On 02/17/2023, Jackson Financial Inc traded for a price of $49.15 per share and a market cap of $4.08Bil. The stock has returned 23.56% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 2 out of 10.
In terms of valuation, Jackson Financial Inc has a price-earnings ratio of 0.63, a price-book ratio of 0.46, a EV-to-Ebitda ratio of 0.35 and a price-sales ratio of 0.27.
PlayAGS Inc
The guru sold out of their 8,208,076-share investment in NYSE:AGS. Previously, the stock had a 0.34% weight in the equity portfolio. Shares traded for an average price of $5.64 during the quarter.
On 02/17/2023, PlayAGS Inc traded for a price of $6.49 per share and a market cap of $245.06Mil. The stock has returned -18.55% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, PlayAGS Inc has a price-book ratio of 5.55, a EV-to-Ebitda ratio of 7.82 and a price-sales ratio of 0.83.
The price-to-GF Value ratio is 0.75, earning the stock a GF Value rank of 10.
VectoIQ Acquisition Corp II
The guru sold out of their 3,000,000-share investment in NAS:VTIQ. Previously, the stock had a 0.23% weight in the equity portfolio. Shares traded for an average price of $9.99 during the quarter.
On 02/17/2023, VectoIQ Acquisition Corp II traded for a price of $10.06 per share and a market cap of $442.89Mil. The stock has returned 2.97% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 2 out of 10.
In terms of valuation, VectoIQ Acquisition Corp II has a price-earnings ratio of 591.76, a price-book ratio of 1.33 and a EV-to-Ebitda ratio of -308.04.
Bowlero Corp
Apollo Management Holdings, L.P. reduced their investment in NYSE:BOWL by 1,686,146 shares. The trade had a 0.16% impact on the equity portfolio. During the quarter, the stock traded for an average price of $13.54.
On 02/17/2023, Bowlero Corp traded for a price of $15.6 per share and a market cap of $2.58Bil. The stock has returned 70.85% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 2 out of 10.
In terms of valuation, Bowlero Corp has a EV-to-Ebitda ratio of 29.31 and a price-sales ratio of 2.51.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
Want to provide feedback on this article? Have questions or concerns? Get in touch with us here, or email us at [email protected]!
This article is general in nature and does not represent the opinions of GuruFocus or any of its affiliates. This article is not intended to be financial advice, nor does it constitute investment advice or recommendations. It was written without regard to your individual situation or financial goals. We aim to bring you fundamental, data-driven analysis, The information on this site is in no way guaranteed for completeness, accuracy or in any other way.
