Logistec Corp (LGT.B-T)

(Top Pick Sep 22/16, Up 6%) Their volume of containers has expanded significantly. Their environmental business has record backlogs. It is a great entry point and he has been buying more. Very high barriers to entry. It is an infrastructure pay on two fronts.

(A Top Pick March 22/16. Down 9%.) This has been one of his biggest winners over the last 10 years, going from $8 to $70. However, it has been treading water for the last 2 years or so. Last year was rough with marine cargo volumes being down. They’ve expanded some operations, so costs went up. Also, had a terrible fire in Georgia, which basically had them shut down for almost a year. Just came out with a very, very strong 4^th quarter and announced some acquisitions and new contracts. In 2017 you are going to see this get back on the path of growing their top and bottom lines. This is still a Buy.

Pure infrastructure in ports and environmental services. They repair water pipes. Sales are growing at double digit rates. It has gone up 8 fold in the last 10 years. It came down last year. It is a great time to accumulate it. A very well managed company.

(Market Call Minute) Brilliantly run.

His longest held position. It pulled back a little recently as they doubled the size of their Montreal container handling facility.

A great opportunity to buy it now that it has come down. Their Aqua Liner business is gaining huge traction. They just doubled their container facilities in Montreal and one of their biggest customers is a marine cargo customer.

He has owned for 9 years now. It is one of his biggest winners. They are doubling their container facility in the port of Montreal. Their pipe lining company has exploded. The stock has been re-valued.

A port operator on the Eastern seaboard that owns and operates a number of ports in Eastern Canada and the US. They are beneficiaries of increasing global trade. These assets, that are considered infrastructure types, are becoming more and more valuable as more institutional investors look to own these types of businesses. Trades at 12-13 times enterprise value to EBITDA, so not particularly cheap. However, for an asset of that quality and a company that has had very steady earnings growth over time, it is probably warranted.

One of his largest holdings for 9 years. Used to be dirt cheap and growing and is now revalued as an infrastructure stock. They have some huge projects to expand their container facility in Montreal. Well warranted valuation. 15 times forward earnings. Buy it and put it away.

One of his oldest holdings. One of his best performers and biggest overall position. Marine cargo handling in eastern North America and an environmental business to line water pipes without ripping up a whole city street. Doing a huge expansion of their Montreal port. Sees very good growth ahead. It is fairly illiquid.