Connor, Clark & Lunn Investment Management Ltd. 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.
Connor, Clark & Lunn Investment Management is a private investment management firm that currently operates as a business subsidiary of its parent company Connor, Clark & Lunn Financial Group. The company was founded in 1982 and is headquartered out of Vancouver with an additional office located in Toronto. Connor, Clark & Lunn Investment Management conducts its research both internally and externally, utilizing a quantitative and fundamental analysis with both top down and bottom up stock selection methods to make its investment decisions. The firm is owned by its employees and has maintained an investment philosophy based on “capital preservation while striving to provide superior long-term performance through a consistent and disciplined investment process.” The company currently has approximately $55 billion in total assets under management spread across over 200 accounts, all of which are discretionary accounts. Both of the firm’s total number of accounts held and total assets managed have been increasing in recent years with its total number of accounts growing from 124 accounts five years prior to its amount today and its assets under management growing from less than $13 billion back in 2010 to over four times that amount today. Connor, Clark & Lunn Investment Management has over 50 employees and provides a variety of services including fixed income, equity, and balanced portfolios. The firm provides its various products and services to a variety of clients, mainly pension and profit sharing plans, which alone makes up over half of its client base, including pooled investment vehicles, high net worth individuals, charities, corporations, state or municipal government entities, and insurance companies, among others, in order of decreasing clientele. The company invests most heavily in the finance sector, which alone makes up a third of its allocations, and also invests in the energy, materials, health care, information technology, transports, and consumer discretionary sectors, among others, in order of decreasing allocation. Some of its current products include its Fundamental Canadian Equities and Quantitative Canadian Equities portfolios.
As of the latest 13F report, the guru’s equity portfolio contained 1178 stocks valued at a total of $17.38Bil. The top holdings were TD(5.00%), RY(4.73%), and CNI(3.50%).
According to GuruFocus data, these were Connor, Clark & Lunn Investment Management Ltd.’s top five trades of the quarter.
Apple Inc
During the quarter, Connor, Clark & Lunn Investment Management Ltd. bought 877,805 shares of NAS:AAPL for a total holding of 2,565,626. The trade had a 0.66% impact on the equity portfolio. During the quarter, the stock traded for an average price of $142.91.
On 02/13/2023, Apple Inc traded for a price of $151.01 per share and a market cap of $2,389.27Bil. The stock has returned -11.73% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 25.64, a price-book ratio of 42.16, a price-earnings-to-growth (PEG) ratio of 1.47, a EV-to-Ebitda ratio of 19.13 and a price-sales ratio of 6.30.
The price-to-GF Value ratio is 0.88, earning the stock a GF Value rank of 7.
Johnson & Johnson
During the quarter, Connor, Clark & Lunn Investment Management Ltd. bought 633,486 shares of NYSE:JNJ for a total holding of 852,893. The trade had a 0.65% impact on the equity portfolio. During the quarter, the stock traded for an average price of $172.66.
On 02/13/2023, Johnson & Johnson traded for a price of $162.15 per share and a market cap of $423.94Bil. The stock has returned -1.66% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Johnson & Johnson has a price-earnings ratio of 24.06, a price-book ratio of 5.69, a price-earnings-to-growth (PEG) ratio of 6.17, a EV-to-Ebitda ratio of 14.94 and a price-sales ratio of 4.55.
The price-to-GF Value ratio is 0.91, earning the stock a GF Value rank of 7.
The Walt Disney Co
During the quarter, Connor, Clark & Lunn Investment Management Ltd. bought 997,407 shares of NYSE:DIS for a total holding of 1,104,167. The trade had a 0.5% impact on the equity portfolio. During the quarter, the stock traded for an average price of $95.65000000000001.
On 02/13/2023, The Walt Disney Co traded for a price of $108.06 per share and a market cap of $197.40Bil. The stock has returned -28.98% 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, The Walt Disney Co has a price-earnings ratio of 59.37, a price-book ratio of 2.00, a EV-to-Ebitda ratio of 19.42 and a price-sales ratio of 2.34.
The price-to-GF Value ratio is 0.70, earning the stock a GF Value rank of 10.
Brookfield Infrastructure Partners LP
Connor, Clark & Lunn Investment Management Ltd. reduced their investment in NYSE:BIP by 2,040,476 shares. The trade had a 0.48% impact on the equity portfolio. During the quarter, the stock traded for an average price of $34.93.
On 02/13/2023, Brookfield Infrastructure Partners LP traded for a price of $34.18 per share and a market cap of $15.56Bil. The stock has returned -12.51% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Brookfield Infrastructure Partners LP has a price-earnings ratio of 260.91, a price-book ratio of 2.44, a price-earnings-to-growth (PEG) ratio of 9.85, a EV-to-Ebitda ratio of 7.68 and a price-sales ratio of 1.11.
The price-to-GF Value ratio is 0.71, earning the stock a GF Value rank of 10.
Coca-Cola Co
During the quarter, Connor, Clark & Lunn Investment Management Ltd. bought 1,314,981 shares of NYSE:KO for a total holding of 1,742,364. The trade had a 0.48% impact on the equity portfolio. During the quarter, the stock traded for an average price of $60.37.
On 02/13/2023, Coca-Cola Co traded for a price of $59.62 per share and a market cap of $257.83Bil. The stock has returned 0.00% 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, Coca-Cola Co has a price-earnings ratio of 26.03, a price-book ratio of 11.30, a price-earnings-to-growth (PEG) ratio of 2.74, a EV-to-Ebitda ratio of 20.04 and a price-sales ratio of 6.13.
The price-to-GF Value ratio is 0.91, 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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