Cornerstone Investment Partners, LLC recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
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.
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 218 stocks valued at a total of $1.56Bil. The top holdings were
According to GuruFocus data, these were Cornerstone Investment Partners, LLC’s top five trades of the quarter.
FedEx Corp
The guru sold out of their 230,545-share investment in NYSE:FDX. Previously, the stock had a 3.5% weight in the equity portfolio. Shares traded for an average price of $211.05 during the quarter.
On 02/01/2023, FedEx Corp traded for a price of $200.68 per share and a market cap of $50.65Bil. The stock has returned -18.90% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, FedEx Corp has a price-earnings ratio of 15.76, a price-book ratio of 2.10, a price-earnings-to-growth (PEG) ratio of 2.39, a EV-to-Ebitda ratio of 9.10 and a price-sales ratio of 0.55.
The price-to-GF Value ratio is 0.78, earning the stock a GF Value rank of 10.
U.S. Bancorp
Cornerstone Investment Partners, LLC reduced their investment in NYSE:USB by 803,700 shares. The trade had a 2.48% impact on the equity portfolio. During the quarter, the stock traded for an average price of $46.27.
On 02/01/2023, U.S. Bancorp traded for a price of $49.27 per share and a market cap of $75.43Bil. The stock has returned -13.38% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, U.S. Bancorp has a price-earnings ratio of 13.28, a price-book ratio of 1.72, a price-earnings-to-growth (PEG) ratio of 2.25 and a price-sales ratio of 3.04.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
CDW Corp
The guru established a new position worth 198,146 shares in NAS:CDW, giving the stock a 2.22% weight in the equity portfolio. Shares traded for an average price of $171.43 during the quarter.
On 02/01/2023, CDW Corp traded for a price of $195.98 per share and a market cap of $26.53Bil. The stock has returned 4.55% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, CDW Corp has a price-earnings ratio of 25.75, a price-book ratio of 20.00, a price-earnings-to-growth (PEG) ratio of 1.87, a EV-to-Ebitda ratio of 17.46 and a price-sales ratio of 1.13.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
Microsoft Corp
The guru established a new position worth 110,409 shares in NAS:MSFT, giving the stock a 1.84% weight in the equity portfolio. Shares traded for an average price of $264.05 during the quarter.
On 02/01/2023, Microsoft Corp traded for a price of $247.62 per share and a market cap of $1,843.23Bil. The stock has returned -19.10% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 27.51, a price-book ratio of 10.07, a price-earnings-to-growth (PEG) ratio of 1.34, a EV-to-Ebitda ratio of 18.25 and a price-sales ratio of 9.09.
The price-to-GF Value ratio is 0.79, earning the stock a GF Value rank of 9.
Elevance Health Inc
During the quarter, Cornerstone Investment Partners, LLC bought 36,572 shares of NYSE:ELV for a total holding of 110,682. The trade had a 1.19% impact on the equity portfolio. During the quarter, the stock traded for an average price of $478.49.
On 02/01/2023, Elevance Health Inc traded for a price of $497.38 per share and a market cap of $118.79Bil. The stock has returned 15.03% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Elevance Health Inc has a price-earnings ratio of 20.06, a price-book ratio of 3.27, a price-earnings-to-growth (PEG) ratio of 1.36, a EV-to-Ebitda ratio of 13.19 and a price-sales ratio of 0.78.
The price-to-GF Value ratio is 1.00, earning the stock a GF Value rank of 5.
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.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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.
