In this article, we discuss 10 stocks to buy according to Centiva Capital. If you want to skip our detailed analysis of the fund’s investment philosophy and latest portfolio adjustements, go directly to 5 Stocks to Buy According to Centiva Capital.
Karim Abbadi and Edward McBride founded the New York-based hedge fund manager Centiva Capital in January 2016. Currently, Edward McBride serves as the chief investment officer of Centiva Capital, while Karim Abbadi is the deputy chief investment officer. The hedge fund uses a multi-strategy investing approach in its primary operations. Among the assets to which it is exposed are fixed income, foreign currency, derivatives, commodities, and equity instruments. In addition, Centiva Capital looks to invest in startups with significant growth potential.
Centiva Capital’s 13F portfolio contained assets valued at $5.22 billion as of March 31, up from $4.85 billion a quarter earlier. In the first quarter of 2022, the fund sold off 420 stocks and reduced the size of its holdings in 273 equities. On the other hand, it initiated 860 new positions and increased the size of 327 of its existing long positions. Some of the most prominent securities in Centiva Capital’s portfolio include Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and Thermo Fisher Scientific Inc. (NYSE:TMO).
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Our Methodology
The top ten equities, as recommended by Centiva Capital, are listed below. The stocks were picked from the first quarter regulatory filings of the hedge fund. Data from over 900 elite hedge funds tracked by Insider Monkey in Q1 2022 were used to calculate the number of hedge funds holding positions in each firm.
Stocks to Buy According to Centiva Capital
10. Lead Edge Growth Opportunities, Ltd (NASDAQ:LEGA)
Centiva Capital’s Stake Value: $8,549,000
Percentage of Centiva Capital’s 13F Portfolio: 0.16%
Number of Hedge Fund Holders: N/A
Lead Edge Growth Opportunities, Ltd (NASDAQ:LEGA) seeks to combine with one or more firms or organizations by way of a merger, share exchange, asset acquisition, reorganization, share purchase, or similar business combination. It seeks business opportunities in the software, internet, and technology sectors. The company was established in 2020, with New York serving as its corporate headquarters.
Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and Thermo Fisher Scientific Inc. (NYSE:TMO) are a few of the stocks in which Centiva Capital increased its stake in the first quarter of 2022. Another is Lead Edge Growth Opportunities, Ltd (NASDAQ:LEGA), as Centiva Capital strengthened its position in the company in the first quarter of 2022, buying 280,000 shares. That raised its stake in Lead Edge Growth Opportunities, Ltd (NASDAQ:LEGA) to 875,000 shares worth $8.55 million. Simon Sadler’s Segantii Capital is another prominent shareholder of Lead Edge Growth Opportunities, Ltd (NASDAQ:LEGA).
9. Skydeck Acquisition Corp. (NASDAQ:SKYA)
Centiva Capital’s Stake Value: $8,873,000
Percentage of Centiva Capital’s 13F Portfolio: 0.16%
Number of Hedge Fund Holders: N/A
Skydeck Acquisition Corp. (NASDAQ:SKYA), a blank check corporation, was created to carry out a merger, share exchange, asset acquisition, share purchase, reorganization, or other comparable business combination with one or more companies or entities. Paul J. Salem, Martin J. Mannion, Christopher S. Satti, and Fredric A. Flaxman started Skydeck Acquisition Corp. (NASDAQ:SKYA) on February 9, 2021. Its main office is in Providence, Rhode Island.
Skydeck Acquisition Corp. (NASDAQ:SKYA) shares have offered investors 1.03% returns over the past six months as of August 8. With a $1.71 million stake in Skydeck Acquisition Corp. (NASDAQ:SKYA), Segantii Capital is also a prominent shareholder of this blank check company.
Centiva Capital started investing in Skydeck Acquisition Corp. (NASDAQ:SKYA) during the third quarter of 2021, purchasing shares worth $7.19 million. At the end of the first quarter of 2022, the hedge fund owned 911,951 Skydeck Acquisition Corp. (NASDAQ:SKYA) shares, valued at over $8.87 million. The stake in the company made up 0.16% of the hedge fund’s 13F portfolio value.
8. B. Riley Principal 150 Merger Corp. (NASDAQ:BRPM)
Centiva Capital’s Stake Value: $8,937,000
Percentage of Centiva Capital’s 13F Portfolio: 0.17%
Number of Hedge Fund Holders: N/A
Securities filings for the first quarter of 2022 revealed that Karim Abbadi and Edward Mcbride’s Centiva Capital acquired 900,940 shares of B. Riley Principal 150 Merger Corp. (NASDAQ:BRPM), worth $8.94 million, and representing 0.17% of the fund’s total 13F exposure. Centiva Capital is the company’s largest shareholder. Millennium Management is behind Centiva Capital, with a $7.97 million holding in B. Riley Principal 150 Merger Corp. (NASDAQ:BRPM).
B. Riley Principal 150 Merger Corp. (NASDAQ:BRPM), a special purpose acquisition company sponsored by a subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), is listed on the Nasdaq under the symbols BRPM, BRPMW, and BRPMU.
FaZe Clan Inc., the interactive lifestyle and media brand rooted in gaming and youth culture announced the completion of its business combination with B. Riley Principal 150 Merger Corp. (NASDAQ:BRPM) on July 20. As a result, the merged firm has been renamed FaZe Holdings Inc. (NASDAQ:FAZE).
7. Activision Blizzard, Inc. (NASDAQ:ATVI)
Centiva Capital’s Stake Value: $9,216,000
Percentage of Centiva Capital’s 13F Portfolio: 0.17%
Number of Hedge Fund Holders: 80
In the first quarter of 2022, Centiva Capital added gaming behemoth Activision Blizzard, Inc. (NASDAQ:ATVI) to its portfolio. The hedge fund purchased 115,028 shares of Activision Blizzard, Inc. (NASDAQ:ATVI) in the first quarter of 2022, worth $9.22 million.
Activision Blizzard, Inc. (NASDAQ:ATVI) was the 27th-most popular stock at the end of Q1 among 912 hedge funds tracked by Insider Monkey. According to our database, Activision Blizzard, Inc. (NASDAQ:ATVI) was part of 80 hedge funds’ portfolios at the end of the first quarter, up from 70 funds in the earlier quarter.
Robert Emil Zoellner’s Alpine Associates is a significant shareholder of Activision Blizzard, Inc. (NASDAQ:ATVI), with 1.85 million shares worth $144 million. On August 1, Activision Blizzard, Inc. (NASDAQ:ATVI) reported Q1 earnings per share of $0.48, in line with estimates. In addition, the company’s quarterly revenue amounted to $1.64 billion, beating estimates by $70 million.
On August 4, Deutsche Bank analyst Benjamin Soff reduced his price objective on Activision Blizzard, Inc. (NASDAQ:ATVI) to $84 from $95 while maintaining a ‘Hold’ rating on the stock. The analyst made a precise assessment of the likelihood that the government will approve Microsoft Corporation (NASDAQ:MSFT)’s proposed acquisition of Activision. Microsoft Corporation (NASDAQ:MSFT) announced in January of this year that it would purchase Activision Blizzard, Inc. (NASDAQ:ATVI) for $95.00 per share in an all-cash transaction valued at $68.7 billion.
6. two (NYSE:TWOA)
Centiva Capital’s Stake Value: $9,848,000
Percentage of Centiva Capital’s 13F Portfolio: 0.18%
Number of Hedge Fund Holders: N/A
two (NYSE:TWOA) is a special purpose acquisition company founded to combine forces with one or more companies. two (NYSE:TWOA)’s CEO is IT industry veteran Kevin Hartz. The firm was founded in 2021 and is headquartered in San Francisco. Shares of two (NYSE:TWOA) have inched up by 0.72% over the last 12 months as the company continues to suss out potential merger opportunities.
In the first quarter of 2022, Centiva Capital held more than 1.01 million shares of two (NYSE:TWOA) worth over $9.85 million, representing 0.18% of the value of the firm’s investment portfolio. The fund initiated a stake in TWOA in the second quarter of 2021. As of March 31, Sculptor Capital owned 2.07 million shares of two (NYSE:TWOA) and is the company’s largest shareholder.
Along with Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and Thermo Fisher Scientific Inc. (NYSE:TMO), two (NYSE:TWOA) is one of the stocks that Centiva Capital is monitoring, being the sixth-largest holding of Karim Abbadi and Edward McBride’s Centiva Capital.
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Disclosure: None. 10 Stocks to Buy According to Centiva Capital is originally published on Insider Monkey.
