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CGI Group Inc. (USA) (GIB), Gildan Activewear Inc (USA) (GIL), Intercontinental Exchange Inc (ICE): Sprott Asset Management Top Picks at End-2014

Sprott Asset Management, founded by Eric Sprott, recently filed disclosed its equity portfolio, as held at the end of December 2014, in a new filing with the U.S. Securities and Exchange Commission. In its Form 13F, the fund revealed a total of 138 positions, worth $1.3 billion. The fund had strong focus on finance stocks, as well as on material, technology and utilities stocks. During the quarter, Sprott Asset Management acquired over 30 new stocks, and, at the same, sold more than 25 stocks. Let’s discuss top three holdings of the fund in the fourth quarter. In this article, we will talk about CGI Group Inc. (USA) (NYSE:GIB), Gildan Activewear Inc (USA) (NYSE:GIL), Intercontinental Exchange Inc (NYSE:ICE), which represent in aggregate 7.6% of the fund’s equity portfolio value.

 CGI Group

Sprott Asset Management is headquartered in Toronto, Canada. On Tuesday, Sprott Asset Management announced that it made portfolio management changes to certain other funds. A part of the transition strategy, Eric Sprott will step down as lead portfolio manager, but will serve as chairman of the board of directors of Sprott Inc. Mr. Sprott is the largest shareholder of Sprott.

Therefore, in its latest 13F filing, Sprott disclosed that its top position is represented by CGI Group Inc. (USA) (NYSE:GIB), which is a provider of information technology consulting, systems integration, IT outsourcing and business solutions. According to the filing, Sprott increased its holding in CGI Group Inc. (USA) (NYSE:GIB) to 1.06 million shares, worth $40.3 million, from 1.05 million shares reported previously. CGI Group Inc. (USA) (NYSE:GIB) has a market cap of $10.8 billion, and the company’s stock moved up by 18% in a one-year period. Aside from Sprot, Gotham Asset Management, led by Joel Greenblatt, disclosed holding 366,463 shares of CGI Group Inc. (USA) (NYSE:GIB) as of the end of third quarter. Israel Englander’s Millennium Management is also one of the largest shareholder of the company, with 53,580 shares of the company.

Last week, CGI Group Inc. (USA) (NYSE:GIB) announced that its CGI Federal subsidiary won a $2.5 billion contract for delivery of management and enterprise IT services in a single, integrated network for U.S. Navy ships. The contract allows the company to participate in tenders for individual delivery orders over the fixed eight-year term.

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