Jonathan Bloomberg’s Top 5 Stock Picks

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1. Colliers International Group Inc. (NASDAQ:CIGI)

BloombergSen’s Stake Value: $187 million

Percentage of BloombergSen’s 13F Portfolio: 9.83% 

Number of Hedge Fund Holders: 17

Colliers International Group Inc. (NASDAQ:CIGI) is the largest stock holding of BloombergSen’s 13F stock portfolio as of the end of June quarter. Colliers has been one of the best performers for Jonathan Bloomberg’s hedge fund in the last twelve months, with the stock price up 100% compared to broader market growth of 41%. 

In the second quarter investor letter, LRT Capital Management, an investment management firm, stated that Colliers International Group will grow through acquisitions. Here is what LRT Capital Management stated

“Colliers International Group is a commercial real estate brokerage and investment management company founded by Jay S. Hennick in 1976 in Toronto, Canada. From humble beginnings the company has grown, primarily through acquisitions, to become one of the five largest commercial real estate brokerages in the world (the others being CBRE, Jones Lang LaSalle, Cushman & Wakefield, and Savills). The company today offers a full range of services and reports in the following segments: Outsourcing & Advisory (45% of revenue; this includes Engineering & Design services, Valuation services and Property Management), Capital Markets (25% of revenue), Commercial Real Estate Leasing (24% of revenue), and Investment Management (6% of revenue). The company believes that about half of its revenue is recurring in nature. The Investment Management segment deserves special attention, as it is the result of an acquisition of the real estate investment management company Harrison Street in 2018. While the segment contributes the smallest part of revenues, it has a very high margin, contributing over 17% of the company’s EBITDA.

Colliers has historically grown by acquisition and we expect it to continue to do so. The real estate services market is highly fragmented outside of North America presenting ample opportunities for Colliers to continue its growth strategy. The company has been a good steward of shareholder capital and spun out FirstService Residential (FSV) in 2014 to maximize the value of that business.”

You can also take a look at Best High Risk Stocks to Buy Right Now and Starter Stock Portfolio: 10 Large-cap Stocks To Buy.

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