President Obama has proposed a series of economic measures recently that include changes to the corporate taxation structure. These potential changes may or may not affect companies’ foreign profits and their repatriation of funds.
Goldman Sachs Group Inc (NYSE:GS) highlights the 50 companies in the S&P 500 (INDEXSP:.INX) with the most earnings permanently reinvested overseas, and who are therefore the companies potentially most impacted by a shift in the tax code.
The foreign sales for these 50 companies totaled $1.8 trillion in 2012 and accounted for 53% of the total sales reported for the S&P 500 (INDEXSP:.INX). By market capitalization, these 50 stocks represent 38% of the S&P 500 (INDEXSP:.INX), and have nearly $1.3 trillion of permanently reinvested foreign earnings.
Tiger Legatus Master Fund was up 0.1% net for the second quarter, compared to the MSCI World Index's 7.9% return and the S&P 500's 8.5% gain. For the first half of the year, Tiger Legatus is up 9%, while the MSCI World Index has gained 13.3%, and the S&P has returned 15.3%. Q2 2021 hedge Read More
Looking at sectors, information technology makes up the greatest share of this list as compared to its share of the total S&P 500 (INDEXSP:.INX).