In this article, we discuss the 10 stocks to buy in 2021 according to Carl Tiedemann’s TIG Advisors based on Q2 holdings of the fund. If you want to skip our detailed analysis of Tiedemann’s history, investment philosophy, and hedge fund performance, go directly to the 5 Stocks to Buy in 2021 According to Carl Tiedemann’s TIG Advisors.
TIG Advisors was launched in 1980 by Carl H. Tiedemann, who served as Chairman until his death in April 2016.
A New York-based alternative asset manager, TIG Advisors provides expansion capital, management services, and infrastructure support to investment teams. In the second quarter of 2021, the total value of the TIG Advisors 13F portfolio is $2.98 billion.
As of the second quarter, TIG Advisors holds significant stakes in several companies including Slack Technologies, Inc. (NYSE:WORK), salesforce.com, inc. (NYSE:CRM), and AstraZeneca PLC (NASDAQ:AZN).
In salesforce.com, inc. (NYSE:CRM), TIG Advisors owns 4,987 shares worth $1.22 million. On September 24, Truist analyst Terry Tillman raised his price target on salesforce.com, inc. (NYSE:CRM) to $315 from $300 and maintained a “Buy” rating on the shares.
Based on the latest 13F holdings for the second quarter of 2021, TIG Advisors owns 4.65 million shares in Slack Technologies, Inc. (NYSE:WORK), worth $205.81 million.
In the second quarter, TIG Advisors raised its position in AstraZeneca PLC (NASDAQ:AZN) by 7222% to 101.25 million shares worth $6.07 million, accounting for just over 0.2% of the overall portfolio. On September 17, Morgan Stanley analyst Mark Purcell raised his price target on AstraZeneca PLC (NASDAQ:AZN) to 10,000 GBp from 9,800 GBp and reiterated an “Overweight” rating on the shares.
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With this context and industry outlook in mind, let’s start our list of the 10 stocks to buy in 2021 according to Carl Tiedemann’s TIG Advisors. We picked stocks from the Q2 portfolio of Tiedemann.
Stocks to Buy in 2021 According to Carl Tiedemann’s TIG Advisors
10. Brookfield Property Partners L.P. (NASDAQ:BPYPN)
TIG Advisors’ Stake Value: $67,084,000
Percentage of TIG Advisors’ 13F Portfolio: 2.25%
Number of Hedge Fund Holders: 17
Brookfield Property Partners L.P. (NASDAQ:BPYPN) is one of the world’s most prestigious real estate firms. The company was incorporated in 2021 and stands tenth on the list of 10 stocks to buy in 2021 according to Carl Tiedemann’s TIG Advisors. Shares of Brookfield Property Partners L.P. (NASDAQ:BPYPN) ranged between $17.67- $25.14 in the past 52 weeks.
TIG Advisors’ stake in Brookfield Property Partners L.P. (NASDAQ:BPYPN) stock increased by 49% in the second quarter of 2021, the latest data reveals. Out of the hedge funds being tracked by Insider Monkey, Citadel Investment Group is a leading shareholder in Brookfield Property Partners L.P. (NASDAQ:BPYPN), with 15.57 million shares worth more than $295.07 million.
Horos Asset Management, in its first-quarter 2021 investor letter, mentioned Brookfield Property Partners L.P. (NASDAQ:BPYPN). Here is what the fund said:
“There have been significant portfolio changes this quarter in the real estate sector, with several new stakes, discussed below, and one corporate transaction. In particular, here we provide an update on the status of our investment in Brookfield Property Partners (“BPY”). In our latest quarterly letter, we noted that on January 4 the company received a takeover bid from Brookfield Asset Management (“BAM”) for the remaining shares it does not control, at a price of 16.5 dollars per share, which seemed too low to us. Hence, our intention was to decline the takeover bid and hold our shares, awaiting a potential increase in the offer price that BAM had in fact historically made in other similar acquisitions. Finally, on April 1, BAM announced it had increased its offer by 10% to 18.17 dollars per share. In this case, shareholders will have a choice of cash, BAM common stock or BPY preferred stock, limited to a maximum of 50% cash for the total offer, 42% for BAM common stock and 8% for BPY preferred stock. The offer price represents a discount to BPY’s NAV of 32%, very much in line with the historical average at which this vehicle has historically traded.”
9. Coherent, Inc. (NASDAQ:COHR)
TIG Advisors’ Stake Value: $74,602,000
Percentage of TIG Advisors’ 13F Portfolio: 2.5%
Number of Hedge Fund Holders: 43
Coherent, Inc. (NASDAQ:COHR) is one of the world’s leading producers of lasers, laser-based technologies, and laser-based system solutions for many scientific, commercial, and industrial applications. It was founded in 1966, and it stands ninth on the list of 10 stocks to buy in 2021 according to Carl Tiedemann’s TIG Advisors. Coherent, Inc. (NASDAQ:COHR) shares have returned 138.69% to investors over the course of the past 12 months.
On September 21, Susquehanna analyst Mehdi Hosseini downgraded Coherent, Inc. (NASDAQ:COHR) to “Neutral” from “Positive” and gave a price target of $273, up from $160, noting the company’s agreement to be purchased by II-VI (IIVI). On August 31, Coherent, Inc. (NASDAQ:COHR) signed a supply deal with Cytek Biosciences, Inc. (NASDAQ:CTKB). Coherent will supply Cytek its laser goods on a non-exclusive basis, according to the terms of the deal.
TIG Advisors holds 282,219 shares in Coherent, Inc. (NASDAQ:COHR) worth over $74.60 million, representing 2.5% of their portfolio. In the second quarter of 2021, 43 hedge funds in the database of Insider Monkey held stakes in Coherent, Inc. (NASDAQ:COHR), up from 41 in the preceding quarter.
In addition to salesforce.com, inc. (NYSE:CRM), Slack Technologies, Inc. (NYSE:WORK), and AstraZeneca PLC (NASDAQ:AZN), Coherent, Inc. (NASDAQ:COHR) is one of the stocks to buy in 2021 according to Carl Tiedemann’s TIG Advisors.
Appleseed Fund, in its first-quarter 2021 investor letter, mentioned Coherent, Inc. (NASDAQ:COHR). Here is what the fund said:
“Our most significant contributors to the Fund’s equity performance during the quarter (includes) Coherent (COHR). During the quarter, Coherent announced that it was being acquired, after which several other bidders emerged. Between the takeover announcement and the bidding war among Coherent suitors, the shares rallied strongly during the quarter.”
8. Xilinx, Inc. (NASDAQ:XLNX)
TIG Advisors’ Stake Value: $96,267,000
Percentage of TIG Advisors’ 13F Portfolio: 3.23%
Number of Hedge Fund Holders: 59
Xilinx, Inc. (NASDAQ:XLNX) creates, develops, sells programmable devices and related technologies globally. The company was founded in 1984, and it ranks eighth on the list of 10 stocks to buy in 2021 according to Carl Tiedemann’s TIG Advisors. Xilinx, Inc. (NASDAQ:XLNX) currently has a $38.07 billion market capitalization and was able to deliver a 57.38% return in the past 12 months.
On August 3, Barclays analyst Blayne Curtis raised his price target on Xilinx, Inc. (NASDAQ:XLNX) to $165 from $134 and kept an “Equal Weight” rating on the shares.
There were 59 hedge funds in our database that held stakes in Xilinx, Inc. (NASDAQ:XLNX) in the second quarter of 2021, compared to 57 funds in the previous quarter. Israel Englander’s Millennium Management is the most significant shareholder in Xilinx, Inc. (NASDAQ:XLNX), with 2.27 million shares worth $327.66 million.
7. Maxim Integrated Products, Inc. (NASDAQ: MXIM)
Tiedemann’s Stake Value: $104,960,000
Percentage of Carl Tiedemann’s 13F Portfolio: 3.52%
Number of Hedge Fund Holders: 56
Maxim Integrated Products, Inc. (NASDAQ: MXIM) provides numerous high-frequency process technologies and capabilities for custom builds. It was founded in 1983 and is placed seventh on the list of 10 stocks to buy in 2021 according to Carl Tiedemann’s TIG Advisors.
On August 19, Deutsche Bank analyst Ross Seymore raised his price target on Maxim Integrated Products, Inc. (NASDAQ: MXIM) to $107 from $104 and kept a “Buy” rating on the shares.
6. Proofpoint, Inc. (NASDAQ: PFPT)
TIG Advisors’ Stake Value: $133,188,000
Percentage of TIG Advisors’ 13F Portfolio: 4.47%
Number of Hedge Fund Holders: 48
Proofpoint, Inc. (NASDAQ: PFPT) is prominent cybersecurity and compliance firm. The company was founded in 2002, and it stands sixth on the list of 10 stocks to buy in 2021 according to TIG Advisors. Proofpoint, Inc. (NASDAQ: PFPT) stock moved within the range of $91.60 – $175.99 in the past 12 months.
In the second quarter of 2021, TIG Advisors owned 766,508 shares in Proofpoint, Inc. (NASDAQ: PFPT), worth $133.19 million. The investment covers 4.47% of the fund’s portfolio. Proofpoint, Inc. (NASDAQ: PFPT) saw an increase in hedge fund sentiment recently. The number of long hedge fund positions increased to 48 in the second quarter of 2021 compared to 22 positions in the previous quarter.
salesforce.com, inc. (NYSE:CRM), Slack Technologies, Inc. (NYSE:WORK), and AstraZeneca PLC (NASDAQ:AZN) are some of the stocks to buy in 2021 according to Carl Tiedemann’s TIG Advisors, along with Proofpoint, Inc. (NASDAQ: PFPT).
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Disclosure: None. 10 Stocks to Buy in 2021 According to Carl Tiedemann’s TIG Advisors is originally published on Insider Monkey.
