Insightful Analysis of Invesco EQV European Equity Fund (Trades, Portfolio)'s Q1 2024 Investment Decisions
Invesco EQV European Equity Fund (Trades, Portfolio), known for its strategic investments in high-growth European markets, has revealed its N-PORT filing for the first quarter of 2024. The Fund, which commenced on November 3, 1997, is managed by Invesco Ltd. and focuses on a diversified portfolio of quality companies at reasonable prices. The investment team prioritizes strong fundamentals and the potential for sustainable earnings growth when selecting stocks for the portfolio.
Summary of New Buys
Invesco EQV European Equity Fund (Trades, Portfolio) expanded its portfolio with 5 new stocks. Noteworthy additions include:
- CRH PLC (CRH, Financial), with 143,280 shares, making up 2.17% of the portfolio and valued at $10,281,770 million.
- STMicroelectronics NV (MIL:STMMI, Financial), comprising 146,192 shares, which is about 1.36% of the portfolio, with a total value of €6,418,930.
- Rentokil Initial PLC (LSE:RTO, Financial), with 764,966 shares, accounting for 0.83% of the portfolio and a total value of £3,939,380.
Key Position Increases
The Fund also bolstered its positions in 9 stocks, with significant increases in:
- Compagnie Financiere Richemont SA (XSWX:CFR, Financial), adding 17,898 shares for a total of 57,986 shares. This represents a 44.65% increase in share count, impacting the portfolio by 0.56%, and valued at CHF8,612,920.
- Capgemini SE (XPAR:CAP, Financial), with an additional 11,009 shares, bringing the total to 44,729 shares. This adjustment marks a 32.65% increase in share count, with a total value of €9,944,210.
Summary of Sold Out Positions
The Fund exited 3 holdings in the first quarter of 2024, including:
- CRH PLC (LSE:CRH, Financial): All 153,899 shares were sold, impacting the portfolio by -1.94%.
- Carlsberg A/S (OCSE:CARL B, Financial): The complete liquidation of 44,192 shares resulted in a -1.23% portfolio impact.
Key Position Reductions
Reductions were made in 39 stocks, with notable changes in:
- Danieli & C. Officine Meccaniche SpA (MIL:DANR, Financial), reduced by 158,471 shares, leading to a -40.54% decrease in shares and a -0.75% portfolio impact. The stock's average trading price was €20.9 during the quarter, with returns of 11.90% over the past 3 months and 12.67% year-to-date.
- DCC PLC (LSE:DCC, Financial), reduced by 57,078 shares, resulting in a -26.71% share count reduction and a -0.74% portfolio impact. The stock traded at an average price of £54.57 during the quarter, with returns of 0.10% over the past 3 months and -0.31% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Invesco EQV European Equity Fund (Trades, Portfolio)'s portfolio comprised 53 stocks. The top holdings included 4.09% in Novo Nordisk A/S (OCSE:NOVO B, Financial), 3.6% in Investor AB (OSTO:INVE B, Financial), 3.58% in Nestle SA (XSWX:NESN, Financial), 3.13% in RELX PLC (LSE:REL, Financial), and 3.05% in Chemical Works of Gedeon Richter PLC (BUD:RICHTER, Financial). The investments span across 10 of the 11 industries, with significant exposure in Industrials, Healthcare, Financial Services, Consumer Defensive, Consumer Cyclical, Energy, Technology, Communication Services, Basic Materials, and Real Estate.
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.
