Leith Wheeler Investment Counsel is a $16 billion value investing fund based in Canada, where investment firms are required to disclose holdings every six months. Managers at Leith Wheeler invest in companies that have a good business model and management team, looking for a margin of safety and holding for the long term.
Leith Wheeler Canadian Equity Fund’s portfolio contained 44 stocks, valued at $2.2 billion in total and the end of the fourth quarter. The top sector represented in the portfolio was Financial Services 38.4%, Industrials at 14.7% and Energy at 14.2%.
Leith Wheeler bought three new stocks in the six months ending March 31: Bank of Montreal (TSX:BMO, Financial), Raging River Exploration Inc. (TSX:RRX, Financial) and Progressive Waste Solutions Ltd. (TSX:BIN, Financial).
Bank of Montreal (TSX:BMO, Financial)
Leith Wheeler purchased 146,550 shares of Bank of Montreal, reflecting 0.57% of the portfolio. Shares closed Tuesday at $75.03.
Bank of Montreal is incorporated in 1821 by an Act of Lower Canada as the first Canadian chartered bank. Bank of Montreal has a market cap of $48.55 billion; its shares were traded at around $75.03 with a P/E ratio of 11.90 and P/S ratio of 2.81. The dividend yield of Bank of Montreal stocks is 4.16%. Bank of Montreal had an annual average earnings growth of 4.10% over the past 10 years.
Raging River Exploration Inc. (TSX:RRX, Financial)
Leith Wheeler purchased 1,094,800 shares of Raging River Exploration, reflecting 0.38% of the portfolio. The company’s shares closed at $8.84 on Tuesday.
Raging River Exploration Inc. was incorporated on Dec. 15, 2011 as 1646988 Alberta Ltd. Raging River Exploration Inc. has a market cap of $1.59 billion; its shares were traded at around $8.84 with a P/E ratio of 14.80 and P/S ratio of 4.83.
Progressive Waste Solutions Ltd. (TSX:BIN, Financial)
Leith Wheeler purchased 30,900 shares of Progressive Waste Solutions Ltd., reflecting 0.051% of the portfolio.
Progressive Waste Solutions Ltd was incorporated on May 20, 2009 under the provisions of the Business Corporations Act (Ontario). Progressive Waste Solutions Ltd has a market cap of $4.27 billion; its shares were traded at around $37.04 with a P/E ratio of 26.70 and P/S ratio of 1.68. The dividend yield of Progressive Waste Solutions Ltd. stocks is 1.61%. Progressive Waste Solutions Ltd. had an annual average earnings growth of 4.0% over the past 10 years.
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