Insights into the Fund's Latest 13F Filing and Key Investment Moves
The T. Rowe Price Japan Fund (Trades, Portfolio), known for its strategic investment in a wide range of Japanese companies and industries, recently submitted its 13F report for the third quarter of 2023. The fund, which typically invests at least 80% of its net assets in Japanese companies, seeks to identify businesses capable of achieving and sustaining above-average, long-term earnings growth. The fund's investment decisions are guided by a global team of analysts dedicated to in-depth fundamental research. The fund generally favors companies with leading or improving market positions, attractive business niches, seasoned management, stable or improving earnings and/or cash flow, and sound or improving balance sheets.
New Additions to the Portfolio
In the third quarter of 2023, T. Rowe Price Japan Fund (Trades, Portfolio) added a total of 15 stocks to its portfolio. The most significant addition was Honda Motor Co Ltd (TSE:7267, Financial), with 1,493,700 shares, accounting for 4.06% of the portfolio and a total value of ¥16.8 billion. Other notable additions include Toyota Industries Corp (TSE:6201, Financial) and Nippon Steel Corp (TSE:5401, Financial), representing approximately 3.09% and 3.06% of the portfolio, respectively.
Increased Stakes in Existing Holdings
The fund also increased its stakes in seven stocks, with the most notable increase in ITOCHU Corp (TSE:8001, Financial). The fund added an additional 277,400 shares, bringing the total to 473,300 shares. This adjustment represents a significant 141.6% increase in share count, a 2.42% impact on the current portfolio, and a total value of ¥17.1 billion. The fund also increased its stake in Suzuki Motor Corp (TSE:7269, Financial) by 28.85%.
Complete Exits from Holdings
In the same quarter, T. Rowe Price Japan Fund (Trades, Portfolio) completely exited 14 holdings. The most significant exits were Panasonic Holdings Corp (TSE:6752, Financial) and Lasertec Corp (TSE:6920, Financial), resulting in a -2.14% and -2.02% impact on the portfolio, respectively.
Reductions in Existing Holdings
The fund also reduced its position in 28 stocks. The most significant reductions include Keyence Corp (TSE:6861, Financial) and Olympus Corp (TSE:7733, Financial), resulting in a -48.21% and -59.41% decrease in shares, respectively.
Portfolio Overview
As of the third quarter of 2023, T. Rowe Price Japan Fund (Trades, Portfolio)'s portfolio included 83 stocks, with the top holdings in Sony Group Corp (TSE:6758, Financial), ITOCHU Corp (TSE:8001, Financial), Mitsubishi UFJ Financial Group Inc (TSE:8306, Financial), Honda Motor Co Ltd (TSE:7267, Financial), and Toyota Industries Corp (TSE:6201, Financial). The holdings are mainly concentrated in 11 industries: Industrials, Technology, Consumer Cyclical, Financial Services, Basic Materials, Consumer Defensive, Communication Services, Healthcare, Real Estate, Energy, and Utilities.
This 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.
