Yahoo Finance Flutter Entertainment PLC Takes Center Stage in Invesco EQV European Equity Fund's Latest Moves
Insight into the Fund's Strategic Decisions in the Second Quarter of 2024
Invesco EQV European Equity Fund (Trades, Portfolio), a segment of Invesco Ltd., focuses on high-growth opportunities across both developed and emerging European markets. Launched on November 3, 1997, the fund aims to construct a diversified portfolio of reasonably priced, high-quality companies, emphasizing strong fundamentals and sustainable earnings growth.
Summary of New Buys
Invesco EQV European Equity Fund (Trades, Portfolio) expanded its portfolio by acquiring stakes in two new companies during the second quarter of 2024:
London Stock Exchange Group PLC (LSE:LSEG) was the primary addition with 45,899 shares, making up 1.11% of the portfolio and valued at 5.06 million.
Allegro.EU SA (WAR:ALE) was also added with 461,985 shares, representing 0.85% of the portfolio, valued at z?3.85 million.
Key Position Increases
The fund significantly increased its holdings in several stocks, with notable adjustments in:
Flutter Entertainment PLC (NYSE:FLUT), where an additional 33,185 shares were acquired, bringing the total to 37,546 shares. This adjustment marks a 760.95% increase in share count and a 1.36% impact on the current portfolio, totaling $6.99 million.
Rentokil Initial PLC (LSE:RTO) saw an addition of 364,231 shares, bringing the total to 1,129,197 shares. This represents a 47.61% increase in share count, valued at 5.7 million.
Summary of Sold Out Positions
The fund exited its positions completely in three stocks during the quarter:
Flutter Entertainment PLC (LSE:FLTR) was completely sold off, with all 41,275 shares liquidated, resulting in a -1.79% impact on the portfolio.
Amadeus IT Group SA (XMAD:AMS) saw all 112,356 shares sold, causing a -1.66% impact on the portfolio.
Key Position Reductions
Significant reductions were made in several holdings, including:
Reckitt Benckiser Group PLC (LSE:RKT) was reduced by 87,407 shares, a -60.88% decrease, impacting the portfolio by -1.33%. The stock traded at an average price of 49.31 during the quarter and has returned 4.73% over the past three months and -16.99% year-to-date.
Heineken Holding NV (XAMS:HEIO) saw a reduction of 61,934 shares, a -36.48% decrease, impacting the portfolio by -1.1%. The stock traded at an average price of 73.97 during the quarter and has returned 6.54% over the past three months and 1.05% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Invesco EQV European Equity Fund (Trades, Portfolio)'s portfolio included 52 stocks. The top holdings were 4.78% in Novo Nordisk A/S (OCSE:NOVO B), 3.9% in Investor AB (OSTO:INVE B), 3.14% in RELX PLC (LSE:REL), 3% in Nestle SA (XSWX:NESN), and 3% in Chemical Works of Gedeon Richter PLC (BUD:RICHTER). The holdings are predominantly concentrated in 10 of the 11 industries, including Industrials, Healthcare, Financial Services, and more.
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.
This article first appeared on GuruFocus.
