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KG Funds Management’s Return, AUM, and Holdings (Part II)

Sieni Kimalainen

Read the beginning of this article here.

At the end of Q1 2019, the first two positions in KG Funds Management’s portfolio have remained without any changes in shares held compared to the last quarter of 2018. The biggest position at the end of Q1 2019 was Visa Inc. (NYSE:V), a multinational corporation based in Foster City, CA, providing financial services. It is one of the world’s leading companies in electronic fund transfers, through different types of credit, gift, and debit cards. As the leading position in KG Funds Management’s portfolio, Visa Inc. was valued $90.97 million, with a total of 582,433 shares, comprising 18.07% of the fund’s portfolio. Visa Inc. reported net revenues of $5.5 billion for Q1 2019, which is 13% higher compared to Q1 2018. The company also reported earnings per share of $1.30 for Q1 2019, which is 21% higher compared to the same quarter last year. Since the beginning of the year, the company’s stock has gained 28.86%, and on June 25th it had a closing price of $171.28. The company’s market cap is $374.31 billion.

The fund's second biggest position in the first quarter of 2019 was Mastercard Inc (NYSE:MA). This company is also among the leading multinational corporations in global payment and technology services, based in New York. The company reported net revenue of $3.9 billion for the first quarter of 2019, which is 9% higher compared to the same period last year. Also, it reported adjusted diluted earnings per share of $1.78 compared to adjusted dilted earnings per share of $1.50 in the same quarter of 2018. The fund held 383,964 Matercard Inc’s shares worth $90.40 million in the first quarter of 2019. This amount comprised 17.95% of the fund’s 13F portfolio. The company’s market cap is $265.29 billion. Year-to-date, the company’s stock gained 36.89%, and on June 25th it was trading at $259.73.

KG Funds Management did not make any changes in the number of shares it held of The Walt Disney Company (NYSE:DIS) during Q1 2019. Hence this was the fourth largest position in the fund’s portfolio, right after Athene Holding Ltd. which we mentioned in the previous article. The Walt Disney Company is among the biggest producers of entertainment content and it is a huge mass media enterprise divided into several segments. It was founded back in 1923, with headquarters in Burbank, CA. For the second quarter of the fiscal year 2019 ended on March 30th, the company reported revenues of $14.92 million, which is 3% higher than for the Q2 of fiscal 2018. It also disclosed diluted earnings per share of $3.53 compared to $1.95 in the same period of last fiscal year. The company’s market cap is $251.85 billion. Since the beginning of the year, the company’s stock price gained 28.42%, having a closing price of $139.94 on June 25th. KG Funds Management held 630,645 company’s shares worth $70.02 million, comprising 13.9% of the fund’s portfolio.

As for the remaining two positions, the fund has increased interest in them during the first quarter of 2019. The first one is Booking Holdings Inc (NASDAQ:BKNG), which increased by 6% to 23,000 shares worth $40.13 million, comprising 7.97% of the fund’s portfolio. Another boosted position during the quarter was in Comcast Corporation (NASDAQ:CMCSA), with the fund holding 1.21 million shares valued $48.22 million at the end of Q1 2019.

Disclosure: None.

This article was originally published at Insider Monkey.