What Stocks Are on Mike Vinokur's Radar for July 2024?

Uncovering Hidden Gems in Utilities, Technology, and Auto Manufacturing

Editorial Team (ET)July 15, 2025

Mike Vinokur, a seasoned portfolio manager at MV Wealth Partners with iA Private Wealth, has carved a niche in the world of finance by focusing on North American large caps. His insightful market analyses and strategic stock picks have garnered attention and respect in the investment community.

Current Market Sentiment

The market outlook as of July 2024 is cautiously optimistic. Vinokur believes that U.S. equity markets can continue to perform well, but he anticipates a rotation from the "Magnificent Six" big U.S. technology stocks to other sectors that have lagged behind.

Market Performance Analysis

In the first half of 2024, only six companies accounted for more than 60% of the S&P 500 Index's return. This significant concentration of performance suggests that if the market continues to rise, broader market participation is necessary. The S&P 500 outperformed its equal-weight counterpart by more than 10%, a rare occurrence that emphasizes the need for increased market breadth.

Sector Opportunities

Vinokur sees compelling opportunities in utilities, transportation, financials, industrials, and other technology stocks. These sectors are currently undervalued, offering attractive entry points for investors looking to diversify away from the overvalued big tech stocks.

Capital Deployment

In early May, Vinokur raised cash but has since been deploying capital selectively. Historically, July has been a favorable month for U.S. markets. Vinokur expects upcoming earnings reports to surpass current expectations, potentially leading to continued market strength after a brief correction.

Mike Vinokur's Top Picks

Vinokur's top picks for July 2024 are State Street (STT NYSE), Cisco Systems (CSCO NASD), and Magna International (MG TSX). Each of these stocks offers unique value propositions and potential for significant returns.

State Street (STT NYSE)

State Street is one of the largest custodians of assets globally. Unlike traditional banks, State Street has minimal credit risk, making it a more stable financial entity. The company's robust performance in the U.S. Federal Reserve stress test underscores its financial stability. With ample excess capital, State Street is well-positioned for potential dividend hikes and share buybacks. Vinokur purchased State Street at just over $72 per share. The stock trades at less than nine times estimated earnings for 2025 and offers a dividend yield of 3.7%, presenting a strong value proposition for investors.

Cisco Systems (CSCO NASD)

Cisco Systems, a stalwart of the tech industry since the 1990s, is undergoing a significant transformation. The company is shifting a substantial portion of its sales to annual recurring revenues, enhancing its long-term revenue stability. Cisco's strategic acquisitions, including the recent purchase of Splunk, bolster its capabilities in data analysis. This shift positions Cisco to capitalize on the growing demand for data-driven insights. Vinokur acquired Cisco shares at $46.75. Trading at less than 14 times next year's earnings and offering a dividend yield of just over 3%, Cisco provides both value and income for investors.

Magna International (MG TSX)

Magna International is a leading auto parts manufacturer and supplier, consistently securing contracts with major OEMs. The market, however, seems to undervalue its earnings potential. Vinokur believes Magna deserves to trade at a higher multiple, given its strong earnings prospects. He estimates earnings could reach $9.50 per share by 2025, indicating significant upside potential. Magna offers a dividend yield of 4.4%, providing income while investors wait for the market to recognize its true value. Vinokur's entry point was below $58, enhancing the stock's attractiveness as an investment.

Summary of Investment Outlook

Mike Vinokur's market outlook and stock picks reflect a blend of cautious optimism and strategic value investing. By focusing on undervalued sectors and high-potential stocks like State Street, Cisco Systems, and Magna International, he aims to navigate the evolving market landscape effectively.

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