CI INVESTMENTS INC. 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.
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 1394 stocks valued at a total of $21.42Bil. The top holdings were MSFT(4.70%), AMZN(3.08%), and SMH(2.64%).
According to GuruFocus data, these were CI INVESTMENTS INC.’s top five trades of the quarter.
AT&T Inc
During the quarter, CI INVESTMENTS INC. bought 7,509,566 shares of NYSE:T for a total holding of 7,510,444. The trade had a 0.74% impact on the equity portfolio. During the quarter, the stock traded for an average price of $19.91.
On 08/13/2022, AT&T Inc traded for a price of $18.27 per share and a market cap of $130.19Bil. The stock has returned -6.07% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, AT&T Inc has a price-earnings ratio of 6.71, a price-book ratio of 1.10, a EV-to-Ebitda ratio of 4.88 and a price-sales ratio of 0.90.
The price-to-GF Value ratio is 1.02, earning the stock a GF Value rank of 5.
Deere & Co
CI INVESTMENTS INC. reduced their investment in NYSE:DE by 416,028 shares. The trade had a 0.64% impact on the equity portfolio. During the quarter, the stock traded for an average price of $368.92.
On 08/13/2022, Deere & Co traded for a price of $368.16 per share and a market cap of $112.52Bil. The stock has returned -3.42% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Deere & Co has a price-earnings ratio of 19.20, a price-book ratio of 5.95, a price-earnings-to-growth (PEG) ratio of 1.07, a EV-to-Ebitda ratio of 16.88 and a price-sales ratio of 2.50.
The price-to-GF Value ratio is 1.05, earning the stock a GF Value rank of 6.
iShares iBoxx USD High Yield Corporate Bond ETF
CI INVESTMENTS INC. reduced their investment in ARCA:HYG by 2,011,176 shares. The trade had a 0.61% impact on the equity portfolio. During the quarter, the stock traded for an average price of $77.17.
On 08/13/2022, iShares iBoxx USD High Yield Corporate Bond ETF traded for a price of $78.94 per share and a market cap of $14.79Bil. The stock has returned -5.86% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares iBoxx USD High Yield Corporate Bond ETF has a price-book ratio of 1.65.
S&P Global Inc
CI INVESTMENTS INC. reduced their investment in NYSE:SPGI by 377,681 shares. The trade had a 0.57% impact on the equity portfolio. During the quarter, the stock traded for an average price of $357.34.
On 08/13/2022, S&P Global Inc traded for a price of $391.92 per share and a market cap of $130.71Bil. The stock has returned -9.54% 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 29.21, a price-book ratio of 3.32, a price-earnings-to-growth (PEG) ratio of 3.70, a EV-to-Ebitda ratio of 23.31 and a price-sales ratio of 11.30.
The price-to-GF Value ratio is 1.00, earning the stock a GF Value rank of 6.
Bank of America Corp
During the quarter, CI INVESTMENTS INC. bought 3,705,421 shares of NYSE:BAC for a total holding of 5,983,883. The trade had a 0.54% impact on the equity portfolio. During the quarter, the stock traded for an average price of $36.09.
On 08/13/2022, Bank of America Corp traded for a price of $36.3 per share and a market cap of $291.68Bil. The stock has returned -11.89% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Bank of America Corp has a price-earnings ratio of 11.35, a price-book ratio of 1.21, a price-earnings-to-growth (PEG) ratio of 2.10 and a price-sales ratio of 3.30.
The price-to-GF Value ratio is 0.94, 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.
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