Stephen Groff, principal and portfolio manager at Cambridge Global Asset Management

Focus: North American dividend stocks
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MARKET OUTLOOK
There has been a material rotation in the market. Sectors which were previously ignored have caught a bid as many investors were positioned for a deflationary and lower interest rate environment.

At Cambridge, we remain bottom-up stock pickers who view volatility as an opportunity. Today, we are finding opportunities to add to high-quality businesses that are becoming more attractively valued while reducing holdings that are approaching fair value. Some of the funds’ largest holdings have been industrial and U.S. financial companies, many of which have rerated higher post the Trump election and, in our opinion, are no longer as attractively valued. We consistently review our portfolio holdings and adjust position sizes based on our view of risk and reward.

TOP PICKS

WALGREENS BOOTS ALLIANCE (WBA.O)

STORE CAPITAL CORP. (STOR.N)

CASH
 

DISCLOSURE PERSONAL FAMILY PORTFOLIO/FUND
WBA N N Y
STOR N N Y


PAST PICKS: SEPTEMBER 7, 2016

WALGREENS BOOTS ALLIANCE (WBA.O)

  • Then: $82.88
  • Now: $85.21
  • Return: +2.81%
  • TR: +3.27%

EXTENDED STAY AMERICA (STAY.N)

  • Then: $14.41
  • Now: $16.25
  • Return: +12.76%
  • TR: +14.29%

CASH

TOTAL RETURN AVERAGE: +8.78%
 

DISCLOSURE PERSONAL FAMILY PORTFOLIO/FUND
WBA N N Y
STAY N N Y


FUND PROFILE: CAMBRIDGE CANADIAN DIVIDEND

PERFORMANCE AS OF OCTOBER 31, 2016:

  • 1 month: Fund 2.7%, Index* 2.2%
  • 1 year: Fund 12.8%, Index* 12.8%
  • 3 years: Fund 13.1%, Index* 6.9%

* Index: S&P/TSX Composite
* Net of fees, reinvested dividends

Lipper Fund Award: Cambridge Canadian Dividend Fund was the winner in the Canadian Dividend and Income Equity category over three years.
http://www.ci.com/web/common/xslt_news/newsfeed_release.jsp?lang=ENG&page=123182


TOP HOLDINGS AND WEIGHTINGS

  1. Extended Stay America Inc (STAY.N): 4.1%
  2. Walgreens Boots Alliance Inc (WBA.O): 4.1%
  3. George Weston Ltd (WN.TO): 4.0%
  4. Keyera Corp (KEY.TO): 3.9%
  5. Brookfield Infrastructure Partners LP (BIP_u.TO): 3.3%


MORNINGSTAR RECOGNITIONS
Morningstar ratings and awards as of October 31, 2016 (source: Morningstar):

  • Morningstar Rating Overall: 5 stars
  • Morningstar 3-Year Rating: 5 stars
  • Morningstar 5-Year Rating: 5 stars
  • Morningstar 10-Year Rating: 5 stars

Mr. Groff was co-winner of the Morningstar Award for Breakout Fund Manager of the Year in 2015.


WEBSITE: http://blogs.ci.com/cambridge