Cornerstone Investment Partners, LLC recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
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.
Cornerstone Investment Partners, LLC is an investment management firm based out of Atlanta, Georgia. The company was established in 2001 and is currently headed by CIO John Campbell. Cornerstone Investment Partners has grown from its inception to now have 26 employees of which 10 are investment professionals. The firm operates as a subsidiary of its holdings company CIM Holdings LLC. The company conducts its research internally and invests in the public equity and fixed income markets on a global scale. Cornerstone Investment Partners focuses on the value stocks of large cap companies, utilizing a fundamental methodology to make its investment decisions and benchmarking its performance against various Russell and S&P indexes. The company invests most heavily in the finance sector, which alone makes up over a quarter of its total asset allocations, and also invests in the information technology, industrials, consumer discretionary, and energy sectors, among others to a lesser degree, in order of decreasing allocation. Cornerstone Investment Partners’s top holdings include JPMorgan Chase & Co., Capital One Financial Corp., Oracle Corp., Parker Hannifin Corp., and Citigroup Inc., with its top 10 holdings together making up approximately 43% of its total holdings. The company holds over $9.6 billion in total assets under management spread across almost 1,100 accounts, all of which are discretionary accounts except for 16 that make up approximately $470 million of its managed assets. Both of Cornerstone Investment Partners’s total number of accounts and total assets under management have been increasing in recent years with its total assets under management growing significantly from $1.3 billion back in 2010 to well over 7 times that amount today. The company mainly caters to high net worth individuals, which alone makes up over a third of its client base and also provides to individuals, banks, investment companies, pension and profit sharing plans, corporations, insurance companies, charities, and others. Cornerstone Investment Partners offers its Concentrated 30 portfolio.
As of the latest 13F report, the guru’s equity portfolio contained 196 stocks valued at a total of $1.49Bil. The top holdings were AVGO(5.10%), AZO(4.56%), and JNJ(4.45%).
According to GuruFocus data, these were Cornerstone Investment Partners, LLC’s top five trades of the quarter.
Laboratory Corp of America Holdings
Cornerstone Investment Partners, LLC reduced their investment in NYSE:LH by 154,051 shares. The trade had a 2.32% impact on the equity portfolio. During the quarter, the stock traded for an average price of $248.37.
On 07/29/2022, Laboratory Corp of America Holdings traded for a price of $260.44 per share and a market cap of $24.22Bil. The stock has returned -11.24% 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, Laboratory Corp of America Holdings has a price-earnings ratio of 11.98, a price-book ratio of 2.26, a price-earnings-to-growth (PEG) ratio of 0.63, a EV-to-Ebitda ratio of 7.89 and a price-sales ratio of 1.58.
The price-to-GF Value ratio is 0.99, earning the stock a GF Value rank of 6.
Diamondback Energy Inc
During the quarter, Cornerstone Investment Partners, LLC bought 226,336 shares of NAS:FANG for a total holding of 232,220. The trade had a 1.84% impact on the equity portfolio. During the quarter, the stock traded for an average price of $137.04.
On 07/29/2022, Diamondback Energy Inc traded for a price of $126.97 per share and a market cap of $22.48Bil. The stock has returned 62.52% 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, Diamondback Energy Inc has a price-earnings ratio of 8.23, a price-book ratio of 1.74, a EV-to-Ebitda ratio of 5.35 and a price-sales ratio of 2.82.
The price-to-GF Value ratio is 0.77, earning the stock a GF Value rank of 10.
Chevron Corp
Cornerstone Investment Partners, LLC reduced their investment in NYSE:CVX by 126,257 shares. The trade had a 1.18% impact on the equity portfolio. During the quarter, the stock traded for an average price of $165.26.
On 07/29/2022, Chevron Corp traded for a price of $162.7 per share and a market cap of $336.21Bil. The stock has returned 63.65% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Chevron Corp has a price-earnings ratio of 16.07, a price-book ratio of 2.29, a price-earnings-to-growth (PEG) ratio of 3.42, a EV-to-Ebitda ratio of 7.57 and a price-sales ratio of 1.87.
The price-to-GF Value ratio is 1.02, earning the stock a GF Value rank of 6.
Fiserv Inc
During the quarter, Cornerstone Investment Partners, LLC bought 81,642 shares of NAS:FISV for a total holding of 538,667. The trade had a 0.49% impact on the equity portfolio. During the quarter, the stock traded for an average price of $97.06.
On 07/29/2022, Fiserv Inc traded for a price of $105.31 per share and a market cap of $67.67Bil. The stock has returned -7.72% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Fiserv Inc has a price-earnings ratio of 34.35, a price-book ratio of 2.17, a price-earnings-to-growth (PEG) ratio of 2.22, a EV-to-Ebitda ratio of 14.58 and a price-sales ratio of 4.11.
The price-to-GF Value ratio is 0.81, earning the stock a GF Value rank of 9.
Johnson & Johnson
Cornerstone Investment Partners, LLC reduced their investment in NYSE:JNJ by 46,333 shares. The trade had a 0.47% impact on the equity portfolio. During the quarter, the stock traded for an average price of $178.16.
On 07/29/2022, Johnson & Johnson traded for a price of $173.91 per share and a market cap of $458.14Bil. The stock has returned 3.64% 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 25.34, a price-book ratio of 6.13, a price-earnings-to-growth (PEG) ratio of 6.50, a EV-to-Ebitda ratio of 17.47 and a price-sales ratio of 4.87.
The price-to-GF Value ratio is 0.99, earning the stock a GF Value rank of 6.
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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