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 AVGO(5.59%), JPM(4.63%), and ABC(4.30%).
According to GuruFocus data, these were Cornerstone Investment Partners, LLC’s top five trades of the quarter.
The Travelers Companies Inc
The guru established a new position worth 200,200 shares in NYSE:TRV, giving the stock a 2.41% weight in the equity portfolio. Shares traded for an average price of $179.89 during the quarter.
On 02/18/2023, The Travelers Companies Inc traded for a price of $185.75 per share and a market cap of $43.11Bil. The stock has returned 11.04% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, The Travelers Companies Inc has a price-earnings ratio of 15.81, a price-book ratio of 2.00, a price-earnings-to-growth (PEG) ratio of 1.93, a EV-to-Ebitda ratio of 10.81 and a price-sales ratio of 1.20.
The price-to-GF Value ratio is 1.01, earning the stock a GF Value rank of 5.
Citigroup Inc
The guru sold out of their 657,674-share investment in NYSE:C. Previously, the stock had a 1.96% weight in the equity portfolio. Shares traded for an average price of $45.43 during the quarter.
On 02/18/2023, Citigroup Inc traded for a price of $51.42 per share and a market cap of $99.59Bil. The stock has returned -17.39% 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, Citigroup Inc has a price-earnings ratio of 7.35, a price-book ratio of 0.55, a price-earnings-to-growth (PEG) ratio of 1.39 and a price-sales ratio of 1.34.
The price-to-GF Value ratio is 0.80, earning the stock a GF Value rank of 9.
Ross Stores Inc
Cornerstone Investment Partners, LLC reduced their investment in NAS:ROST by 174,193 shares. The trade had a 1.05% impact on the equity portfolio. During the quarter, the stock traded for an average price of $101.96.
On 02/18/2023, Ross Stores Inc traded for a price of $115.69 per share and a market cap of $39.84Bil. The stock has returned 27.44% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Ross Stores Inc has a price-earnings ratio of 28.08, a price-book ratio of 9.62, a EV-to-Ebitda ratio of 17.69 and a price-sales ratio of 2.18.
The price-to-GF Value ratio is 0.93, earning the stock a GF Value rank of 6.
AutoZone Inc
Cornerstone Investment Partners, LLC reduced their investment in NYSE:AZO by 3,027 shares. The trade had a 0.46% impact on the equity portfolio. During the quarter, the stock traded for an average price of $2416.82.
On 02/18/2023, AutoZone Inc traded for a price of $2605.62 per share and a market cap of $48.90Bil. The stock has returned 37.64% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, AutoZone Inc has a price-earnings ratio of 21.84, a price-earnings-to-growth (PEG) ratio of 1.19, a EV-to-Ebitda ratio of 15.53 and a price-sales ratio of 3.15.
The price-to-GF Value ratio is 1.18, earning the stock a GF Value rank of 3.
HCA Healthcare Inc
Cornerstone Investment Partners, LLC reduced their investment in NYSE:HCA by 33,619 shares. The trade had a 0.44% impact on the equity portfolio. During the quarter, the stock traded for an average price of $223.97.
On 02/18/2023, HCA Healthcare Inc traded for a price of $262.84 per share and a market cap of $74.31Bil. The stock has returned 5.69% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, HCA Healthcare Inc has a price-earnings ratio of 13.67, a price-earnings-to-growth (PEG) ratio of 0.87, a EV-to-Ebitda ratio of 8.53 and a price-sales ratio of 1.29.
The price-to-GF Value ratio is 1.09, 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.
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