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The CI Can-Am Small Cap's Largest Holdings

July 03, 2014
Monica Wolfe

Monica Wolfe

121 followers

The CI Can-Am recently reported its first quarter holdings. These holdings highlighted four new buys bringing their total to 32 stocks valued at $189 million. The following five stocks are the fund’s top five holdings as of the close of the first quarter.

E-L Financial Corp (TSX:ELF)

The guru’s largest holding is in E-L Financial Corp where they hold on to 14,390 shares of the company’s stock. This position makes up for 5.4% of their total holdings as well as 0.36% of the company’s shares outstanding.

The fund increased their holdings in the company 22.83% by purchasing 2,675 shares of the company’s stock. They purchased these shares near the estimated average quarterly price of $708.43 per share. Since then the price per share has increased approximately 0.4%.

CI Can-Am’s historical holding history:

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E-L Financial is an investment and insurance holding company. It underwrites property and casualty insurance and life insurance and wealth management products for individuals and groups.

E-L Financial’s historical revenue and net income:

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The analysis on E-L Financial reports that the company’s price is near a 10-year high, its revenue per share has been in decline over the past five years, and the company shows strong financial strength.

The Peter Lynch Chart suggests that the company is currently undervalued:

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E-L Financial Corporation has a market cap of $2.86 billion. Its shares are currently trading at around $711 with a P/E ratio of 3.80 and a P/S ratio of 1.82.

Manitoba Telecom Services (TSX:MBT)

The fund’s second largest holding is in Manitoba Telecom Services where they hold on to 332,488 shares. This position makes up for 5.3% of the guru’s total portfolio as well as 0.49% of the company’s shares outstanding.

Over the past quarter the fund increased their position 80.85% by purchasing 148,638 shares of the company’s stock. They bought the shares near the estimated average quarterly price of $30.06 per share, and since their buy the price per share has increased approximately 3%.

CI Can-Am’s historical holding history:

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Manitoba Telecom Services has two reportable operating segments, MTS and Allstream. MTS is the telecommunications provider in Manitoba, delivering a full suite of wireless, high-speed internet, IP television, converged IP, unified communications, local access, as well as long distance and legacy data services under the MTS brand and security.

Manitoba’s historical revenue and net income:

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The analysis on Manitoba reports that the company’s revenue per share has been in decline for the past five years, its operating margin is expanding and its payout ratio is too high.

Manitoba Telecom Services has a market cap of $2.39 billion. Its shares are currently trading at around $30.95 with a P/S ratio of 1.34 and a P/B ratio of 2.15. The dividend yield of Manitoba is currently at 5.49%.

Atco Ltd. (TSX:ACO.X)

CI Can-Am Small Cap Fund’s third largest holding is in Atco Ltd where they hold on to 182,250 shares of the company’s stock. This position makes up for 5.1% of the fund’s total portfolio as well as 0.16% of the company’s shares outstanding.

The fund did not alter their position over the past quarter. Their last move came in the third quarter of 2013, and since then the price per share has increased approximately 17.1%.

CI Can-Am’s historical holding history:

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Atco generates, transmits, and distributes electric power to customers in Canada, and owns and operates power projects in Canada, Great Britain, and Australia. The Company is engaged in Structures & Logistics, Utilities, Energy and Technologies.

Atco’s historical revenue and net income:

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The analysis on Atco reports that the company has issued CAD2.4 billion of debt, its operating margin is expanding and its revenue per share has slowed down over the past year. The analysis also notes that the company’s price is near a 10-year high.

The Peter Lynch Chart suggests that the company is currently overvalued:

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Atco’s has a market cap of $5.99 billion. Its shares are currently trading at around $52.04 with a P/E ratio of 14.10 and a P/S ratio of 14.10. The dividend yield of Atco stocks is at 1.55%. The company had an annual average earnings growth of 6.30% over the past ten years.

AltaGas (TSX:ALA)

The guru’s fourth largest holding is in AltaGas where they hold on to 183,200 shares of the company’s stock. This position makes up for 4.4% of the guru’s portfolio as well as 0.15% of the company’s shares outstanding.

The guru fund has not altered their position since the third quarter of 2013, and since then the price per share has increased approximately 36.1%.

The fund’s historical holding history:

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AltaGas Ltd. is a diversified energy infrastructure business. The company offers natural gas, power and regulated utilities. It has three operating segments, Gas, Power and Utilities.

AltaGas’ historical revenue and net income:

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The analysis on AltaGas reports that the company has issued $1.2 billion of debt over the past three years, its dividend yield is near a 5-year low, and its price is near a 10-year high.

The Peter Lynch Chart suggests that the company is currently overvalued:

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AltaGas has a market cap of $6.08 billion. Its shares are currently trading at around $49.49 with a P/E ratio of 35.10 and a P/S ratio of 2.72. The dividend yield of AltaGas stocks is at 3.17%. The company had an annual average earnings growth of 3.00% over the past ten years.

Pason Systems (TSX:PSI)

The guru fund’s fifth largest holding is in Pason Systems where they maintain 288,850 shares of the company’s stock. This position represents 4.3% of the portfolio holdings as well as 0.35% of the company’s shares outstanding.

Over the past quarter the fund dropped their holdings about -8.91% by selling 28,250 shares of the company’s stock. They sold these shares near the estimated average quarterly price of $25.99 per share. Since then the price per share has increased approximately 15.8%.

CI Can-Am’s holding history as of Q1:

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Pason Systems is an oil services company. The company provides instrumentation systems for rent or sale to land-based and offshore drilling operations in the oil and gas industry.

Pason Systems’ historical revenue and net income:

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The analysis on Pason reports that the company has no debt, its dividend yield is near a 5-year low, its price is near a 10-year high and its revenue per share has been dropping over the past year.

The Peter Lynch Chart suggests that the company is currently overvalued:

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Pason Systems has a market cap of $2.48 billion. Its shares are currently trading at around $30.10 with a P/E ratio of 171.40, a P/S ratio of 5.93 and a P/B ratio of 6.33. The company had an annual average earnings growth of 10.20% over the past ten years.

Check out CI Can-Am Small Cap Fund’s total portfolio holdings here.

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