KORNITZER CAPITAL MANAGEMENT INC /KS recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Kornitzer Capital Management is an investment management company based out of Shawnee Mission, Kansas. The company was founded in 1989 by John Charles Kornitzer, who was previously the Vice President of Investments for Employers Reinsurance Corp and is currently the company’s CEO. Kornitzer Capital Management conducts its research internally, using a “variety of fundamental evaluation methods while dissecting vast amounts of data, visiting companies as well as their competitors and suppliers, and writing formal research reports.” The company also utilizes its own proprietary financial models and use multiple valuation methodologies to derive a security’s intrinsic value, developing its process over the years into a “disciplined practice of discovery, investigation, and implementation.” Kornitzer Capital Management invests in various public equity and fixed income markets on a global scale, utilizing a bottom up investment approach to invest in the growth stocks of companies. The company invests most heavily in the information technology sector, which alone makes up approximately a fifth of its total asset allocations, and also invests in the consumer discretionary, industrials, health care, consumer staples, energy, and finance sectors, among others to a lesser degree, in order of decreasing allocation. Kornitzer Capital Management currently has 42 employees of which 25 are investment professionals. The company holds over $10 billion in total assets under management spread across over 4,700 accounts, all of which are discretionary accounts except for 160. Both of Kornitzer Capital Management’s total number of accounts and total assets under management have been increasing in recent years with its total assets growing from $3.4 billion to almost three times that amount today. Kornitzer Capital Management caters mainly to individuals, which alone makes up over half its client base, and also provides for high net worth individuals, banks, pension and profit sharing plans, charities, investment companies, and others, in order of decreasing clientele. The company offers mutual funds through its subsidiary Buffalo Funds.
As of the latest 13F report, the guru’s equity portfolio contained 483 stocks valued at a total of $4.93Bil. The top holdings were
According to GuruFocus data, these were KORNITZER CAPITAL MANAGEMENT INC /KS’s top five trades of the quarter.
Varonis Systems Inc
KORNITZER CAPITAL MANAGEMENT INC /KS reduced their investment in NAS:VRNS by 721,743 shares. The trade had a 0.41% impact on the equity portfolio. During the quarter, the stock traded for an average price of $22.85.
On 02/03/2023, Varonis Systems Inc traded for a price of $27.31 per share and a market cap of $3.01Bil. The stock has returned -27.35% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, Varonis Systems Inc has a price-book ratio of 5.65, a EV-to-Ebitda ratio of -20.83 and a price-sales ratio of 6.52.
The price-to-GF Value ratio is 0.50, earning the stock a GF Value rank of 4.
Horizon Therapeutics PLC
KORNITZER CAPITAL MANAGEMENT INC /KS reduced their investment in NAS:HZNP by 227,621 shares. The trade had a 0.31% impact on the equity portfolio. During the quarter, the stock traded for an average price of $83.06.
On 02/03/2023, Horizon Therapeutics PLC traded for a price of $109.79 per share and a market cap of $25.08Bil. The stock has returned 17.61% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Horizon Therapeutics PLC has a price-earnings ratio of 45.00, a price-book ratio of 4.99, a EV-to-Ebitda ratio of 24.21 and a price-sales ratio of 7.03.
The price-to-GF Value ratio is 0.88, earning the stock a GF Value rank of 7.
Calix Inc
KORNITZER CAPITAL MANAGEMENT INC /KS reduced their investment in NYSE:CALX by 204,804 shares. The trade had a 0.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $67.20999999999999.
On 02/03/2023, Calix Inc traded for a price of $54.81 per share and a market cap of $3.59Bil. The stock has returned 8.79% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Calix Inc has a price-earnings ratio of 92.90, a price-book ratio of 5.28, a EV-to-Ebitda ratio of 49.10 and a price-sales ratio of 4.36.
The price-to-GF Value ratio is 0.99, earning the stock a GF Value rank of 5.
Five9 Inc
The guru established a new position worth 158,520 shares in NAS:FIVN, giving the stock a 0.22% weight in the equity portfolio. Shares traded for an average price of $62.76 during the quarter.
On 02/03/2023, Five9 Inc traded for a price of $85.61 per share and a market cap of $6.04Bil. The stock has returned -31.36% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Five9 Inc has a price-book ratio of 22.41, a EV-to-Ebitda ratio of -197.70 and a price-sales ratio of 8.01.
The price-to-GF Value ratio is 0.43, earning the stock a GF Value rank of 4.
HealthEquity Inc
KORNITZER CAPITAL MANAGEMENT INC /KS reduced their investment in NAS:HQY by 144,456 shares. The trade had a 0.21% impact on the equity portfolio. During the quarter, the stock traded for an average price of $67.20999999999999.
On 02/03/2023, HealthEquity Inc traded for a price of $58.9 per share and a market cap of $4.99Bil. The stock has returned 11.53% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, HealthEquity Inc has a price-book ratio of 2.65, a EV-to-Ebitda ratio of 47.17 and a price-sales ratio of 6.00.
The price-to-GF Value ratio is 0.83, earning the stock a GF Value rank of 7.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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