KORNITZER CAPITAL MANAGEMENT INC /KS 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.
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 487 stocks valued at a total of $4.98Bil. The top holdings were MSFT(3.63%), AAPL(1.54%), and HES(1.54%).
According to GuruFocus data, these were KORNITZER CAPITAL MANAGEMENT INC /KS’s top five trades of the quarter.
Digital Turbine Inc
The guru sold out of their 622,382-share investment in NAS:APPS. Previously, the stock had a 0.45% weight in the equity portfolio. Shares traded for an average price of $27.38 during the quarter.
On 08/04/2022, Digital Turbine Inc traded for a price of $22.4 per share and a market cap of $2.21Bil. The stock has returned -64.64% 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, Digital Turbine Inc has a price-earnings ratio of 65.90, a price-book ratio of 4.26, a EV-to-Ebitda ratio of 17.50 and a price-sales ratio of 3.04.
The price-to-GF Value ratio is 0.36, earning the stock a GF Value rank of 2.
S&P Global Inc
KORNITZER CAPITAL MANAGEMENT INC /KS reduced their investment in NYSE:SPGI by 52,200 shares. The trade had a 0.36% impact on the equity portfolio. During the quarter, the stock traded for an average price of $357.34.
On 08/04/2022, S&P Global Inc traded for a price of $368.16 per share and a market cap of $125.14Bil. The stock has returned -14.84% 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 26.57, a price-book ratio of 3.15, a price-earnings-to-growth (PEG) ratio of 3.36, a EV-to-Ebitda ratio of 24.66 and a price-sales ratio of 10.63.
The price-to-GF Value ratio is 0.84, earning the stock a GF Value rank of 7.
Semtech Corp
The guru established a new position worth 241,141 shares in NAS:SMTC, giving the stock a 0.27% weight in the equity portfolio. Shares traded for an average price of $60.43 during the quarter.
On 08/04/2022, Semtech Corp traded for a price of $56.1 per share and a market cap of $3.56Bil. The stock has returned -9.87% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Semtech Corp has a price-earnings ratio of 26.08, a price-book ratio of 4.83, a price-earnings-to-growth (PEG) ratio of 7.45, a EV-to-Ebitda ratio of 17.41 and a price-sales ratio of 4.72.
The price-to-GF Value ratio is 0.71, earning the stock a GF Value rank of 9.
Avalara Inc
The guru established a new position worth 176,305 shares in NYSE:AVLR, giving the stock a 0.25% weight in the equity portfolio. Shares traded for an average price of $82.49 during the quarter.
On 08/04/2022, Avalara Inc traded for a price of $92.5 per share and a market cap of $8.13Bil. The stock has returned -44.16% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 2 out of 10.
In terms of valuation, Avalara Inc has a price-book ratio of 7.85, a EV-to-Ebitda ratio of -83.54 and a price-sales ratio of 10.70.
The price-to-GF Value ratio is 0.53, earning the stock a GF Value rank of 4.
MasTec Inc
KORNITZER CAPITAL MANAGEMENT INC /KS reduced their investment in NYSE:MTZ by 171,680 shares. The trade had a 0.25% impact on the equity portfolio. During the quarter, the stock traded for an average price of $78.11.
On 08/04/2022, MasTec Inc traded for a price of $79.72 per share and a market cap of $6.06Bil. The stock has returned -21.57% 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, MasTec Inc has a price-earnings ratio of 25.78, a price-book ratio of 2.43, a price-earnings-to-growth (PEG) ratio of 1.55, a EV-to-Ebitda ratio of 10.19 and a price-sales ratio of 0.72.
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.
Want to provide feedback on this article? Have questions or concerns? Get in touch with us here, or email us at [email protected]!
This article is general in nature and does not represent the opinions of GuruFocus or any of its affiliates. This article is not intended to be financial advice, nor does it constitute investment advice or recommendations. It was written without regard to your individual situation or financial goals. We aim to bring you fundamental, data-driven analysis, The information on this site is in no way guaranteed for completeness, accuracy or in any other way.
