CI INVESTMENTS INC. recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.
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.
CI Investments Inc. is a private investment management company that is based out of Toronto. The company was established back in 1965 and has been managing money on behalf of its Canadian clients ever since. CI Investments Inc. would grow and expand into the global fund market with its CI Pacific Fund, one of the first funds in Canada focused on Asian markets. The company would continue to expand its “lineup of funds to provide investors with an increasingly comprehensive offering of Canadian, global and industry funds,” maintaining a leading position in its market and being the first to offer tax efficient funds with its CI Corporate Class funds. The company was also the first mutual fund company to partner with another insurance company to offer segregated funds. The company, previously known as Canadian International Fund Management would adopt its current name CI Investments to “reflect its diverse lineup of investment options, including mutual funds, segregated funds, asset allocation programs, structured products and other alternative investments.” The company today is one of the largest investment fund companies operating in Canada with over 2 million total Canadian clients. CI Investments Inc. currently operates as a subsidiary of its parent company CI Financial Corp., and has offices located throughout Canada in Vancouver, Calgary, and Montreal with one international location located in Boston. CI Investments Inc. is owned in a controlling majority by John Warren Jr. Norman, who currently acts as the President of the company. The company invests most heavily in the finance sector, which alone makes up almost a third of its total asset allocations, and also invests in the information technology, materials, energy, utilities and telecommunications, health care, consumer discretionary, and consumer staples sectors, among others, in order of decreasing allocation. The company currently offers a variety of mutual funds including its American Growth Equity, Value Corporate, and Canadian Dividend funds.
As of the latest 13F report, the guru’s equity portfolio contained 1430 stocks valued at a total of $27,153,000,000. The top holdings were MSFT(4.48%), AMZN(3.36%), and MA(2.59%).
According to GuruFocus data, these were CI INVESTMENTS INC.’s top five trades of the quarter.
Points.com Inc
During the quarter, CI INVESTMENTS INC. bought 1,519,080 shares of NAS:PCOM for a total holding of 1,685,080. The trade had a 0.09% impact on the equity portfolio. During the quarter, the stock traded for an average price of $16.1.
On 05/12/2022, Points.com Inc traded for a price of $24.045 per share and a market cap of $342,771,000. The stock has returned 54.81% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Points.com Inc has a price-book ratio of 5.92, a EV-to-Ebitda ratio of 55.88 and a price-sales ratio of 0.95.
The price-to-GF Value ratio is 1.66, earning the stock a GF Value rank of 3.
VanEck Vectors Semiconductor ETF
During the quarter, CI INVESTMENTS INC. bought 1,273,734 shares of NAS:SMH for a total holding of 2,429,112. The trade had a 1.26% impact on the equity portfolio. During the quarter, the stock traded for an average price of $273.89.
On 05/12/2022, VanEck Vectors Semiconductor ETF traded for a price of $218.15 per share and a market cap of $7,651,789,000. The stock has returned -5.33% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, VanEck Vectors Semiconductor ETF has a price-earnings ratio of 23.48 and a price-book ratio of 6.09.
Booking Holdings Inc
CI INVESTMENTS INC. reduced their investment in NAS:BKNG by 126,658 shares. The trade had a 1.05% impact on the equity portfolio. During the quarter, the stock traded for an average price of $2342.2.
On 05/12/2022, Booking Holdings Inc traded for a price of $2038.1 per share and a market cap of $82,799,717,000. The stock has returned -7.81% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Booking Holdings Inc has a price-earnings ratio of 164.90, a price-book ratio of 18.99, a EV-to-Ebitda ratio of 46.01 and a price-sales ratio of 6.71.
The price-to-GF Value ratio is 0.86, earning the stock a GF Value rank of 5.
iShares Russell 2000 ETF
CI INVESTMENTS INC. reduced their investment in ARCA:IWM by 1,069,916 shares. The trade had a 0.82% impact on the equity portfolio. During the quarter, the stock traded for an average price of $203.63.
On 05/12/2022, iShares Russell 2000 ETF traded for a price of $171.93 per share and a market cap of $49,759,662,000. The stock has returned -21.34% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares Russell 2000 ETF has a price-earnings ratio of 14.60 and a price-book ratio of 2.12.
S&P Global Inc
During the quarter, CI INVESTMENTS INC. bought 472,007 shares of NYSE:SPGI for a total holding of 1,088,806. The trade had a 0.71% impact on the equity portfolio. During the quarter, the stock traded for an average price of $407.24.
On 05/12/2022, S&P Global Inc traded for a price of $327.905 per share and a market cap of $114,451,929,000. The stock has returned -13.37% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, S&P Global Inc has a price-earnings ratio of 24.31, a price-book ratio of 2.88, a price-earnings-to-growth (PEG) ratio of 3.08, a EV-to-Ebitda ratio of 22.69 and a price-sales ratio of 9.71.
The price-to-GF Value ratio is 0.80, earning the stock a GF Value rank of 9.
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.
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