In this article, we discuss 10 stocks to buy now according to Hari Hariharan’s NWI Management. If you want to skip our detailed analysis of Hariharan’s history, investment philosophy, and hedge fund performance, go directly to 5 Stocks to Buy Now According to Hari Hariharan’s NWI Management.
Hari Hariharan graduated from the University of Madras with a bachelor’s degree in commerce and accounting and holds an MBA in finance from IIM, India. In addition, he completed the Management Development Program at Harvard University. Hari Hariharan worked with Citibank N.A. from 1976 to 1993. He created the hedge fund called Santander New World Investments Group in 1993, which was spun off as NWI Management in 1999.
NWI Management is a New York-based hedge fund. It focuses mainly on global macro, with a concentration on developing markets. Its investment strategy begins with a broad, top-down examination of various economic and policy aspects and variables derived from a survey of international markets, including global equities, fixed income, commodities, and currency markets, such as money flows, price action, and supply/demand factors. As of Q4 2021, NWI Management’s 13F portfolio value reduced to $1.52 billion from $1.61 billion in the prior quarter. However, the number of holdings increased to 49 from 45 during the fourth quarter. The hedge fund made additional purchases in 3 stocks and reduced holdings in 9 equities.
Some of the significant holdings of NWI Management include Advanced Micro Devices, Inc. (NASDAQ:AMD), Adobe Inc. (NASDAQ:ADBE), and NVIDIA Corporation (NASDAQ:NVDA).
Advanced Micro Devices, Inc. (NASDAQ:AMD), in which NWI Management has a $2.16 million stake, is gaining a lot of attention as on February 16, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced the general availability of compute-optimized Amazon EC2 C6a instances as part of Amazon Web Services’ AMD EPYC processor-based solutions. C6a instances expand the cloud’s largest and most comprehensive array of EC2 instances, allowing users to execute a wide range of compute-intensive tasks.
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Another notable stock in NWI Management’s portfolio is Adobe Inc. (NASDAQ:ADBE). On January 21, Deutsche Bank analyst Brad Zelnick decreased his price objective on Adobe Inc. (NASDAQ:ADBE) from $715 to $660 and maintained a Buy rating. In addition, he advised a balanced strategy for the group with higher value sensitivity than in prior years.
NWI Management added NVIDIA Corporation (NASDAQ:NVDA) to its portfolio in the fourth quarter by buying 7,000 shares. The hedge fund owns a $2.06 million stake in the company. NVIDIA Corporation (NASDAQ:NVDA) has been up 78.46% over the last 12 months as of February 24.
Our Methodology
Keeping all these points in mind, let’s start our list of 10 stocks to buy now according to Hari Hariharan’s NWI Management. For this list, we collected data from Hariharan’s 13F portfolio as of Q4 2021. The fourth quarter database of elite hedge funds maintained by Insider Monkey was used for this analysis.
Stocks to Buy Now According to Hari Hariharan’s NWI Management
10. Twitter, Inc. (NYSE:TWTR)
NWI Management Stake Value: $22,016,000
Percentage of NWI Management’s 13F Portfolio: 1.44%
Number of Hedge Fund Holders: 83
Twitter, Inc. (NYSE:TWTR) is an American micro-blogging and social networking website. Twitter, Inc. (NYSE:TWTR) introduced ethereum credentials to its cryptocurrency functionality under Tips on February 16. Tips allows customers to connect their third-party payment information to their profile, such as Cash App.
Wells Fargo analyst Brian Fitzgerald lowered his price objective on Twitter, Inc. (NYSE:TWTR) from $70 to $42 on February 15 and maintained an Equal Weight recommendation on the stock. Twitter, Inc. (NYSE:TWTR)’s Q4 earnings were broadly in line with expectations, according to the analyst.
Cathie Wood’s ARK Investment Management, with approximately 17.25 million shares worth $745.36 million, is the largest shareholder of Twitter, Inc. (NYSE:TWTR) as of Q4 2021. Overall, 83 hedge funds were bullish on the stock.
Along with Twitter, Inc. (NYSE:TWTR), some other important holdings of Hari Hariharan’s NWI Management include Advanced Micro Devices, Inc. (NASDAQ:AMD), Adobe Inc. (NASDAQ:ADBE), and NVIDIA Corporation (NASDAQ:NVDA).
RiverPark Funds, an investment management firm, mentioned Twitter, Inc. (NYSE:TWTR) in its third-quarter 2021 investor letter. Here is what the fund said:
“Twitter: Despite reporting in-line third quarter results, TWTR shares struggled at the end of 2021. For TWTR, the declines could be attributed to a fear of continued headwinds from Apple’s iOS tracking changes, as well as the stock continuing to be a show-me story after posting two disappointing quarters since its investor day in February (prior to this in-line quarter), as well as its recent CEO change (founder Jack Dorsey stepped down and is being succeeded by long-time CTO Parag Agrawal). Investors continue to be concerned with the platform’s user engagement, as total monetizable daily active users (mDAU) grew 13% year over year to 211 million, in-line with expectations, but still below management’s long-term target of 20% growth. Management expects mDAU growth to accelerate, driven by continued economic reopening and new features such as Spaces and Communities and an increase in the number and penetration of Twitter Topics. For the quarter, revenue increased 37% year over year to $1.3 billion and 4Q guidance was strong at about 20% growth, as Twitter has less exposure to Apple’s ATT headwinds.
With $4.8 billion of TTM revenue (only 4% of Facebook’s revenue), the company has a large opportunity to take share in the $200 billion global digital advertising market that continues to flow to mobile, Twitter’s focus. As the company continues to launch and improve its products (including stories, audio chat, podcasting, video and subscriptions), its platform should become more compelling to both users and advertisers, allowing it to take advertising dollar share through increased user engagement and ad pricing. As Twitter showed this year, we believe that the company can generate 20%+ revenue growth while also driving operating leverage in its already highly profitable business model, generating expanding excess free cash flow growth over time (3Q OCF grew 81% year over year).”
9. Intercorp Financial Services Inc. (NYSE:IFS)
NWI Management Stake Value: $27,446,000
Percentage of NWI Management’s 13F Portfolio: 1.8%
Number of Hedge Fund Holders: 5
Intercorp Financial Services Inc. (NYSE:IFS) operates as a holding company that provides financial services. NWI Management entered the fourth quarter of 2021 with 1.02 million Intercorp Financial Services Inc. (NYSE:IFS) shares in its portfolio, worth around $27.45 million. The company has featured on the hedge fund’s portfolio since the fourth quarter of 2019.
With collective stakes worth $32.7 million, 5 hedge funds tracked by Insider Monkey held long positions in Intercorp Financial Services Inc. (NYSE:IFS) in Q4 2021.
8. Palo Alto Networks, Inc. (NASDAQ:PANW)
NWI Management Stake Value: $27,838,000
Percentage of NWI Management’s 13F Portfolio: 1.82%
Number of Hedge Fund Holders: 73
Palo Alto Networks, Inc. (NASDAQ:PANW) is a network security company that provides services to businesses, service providers, and government agencies. On January 24, Citi analyst Fatima Boolani initiated coverage of Palo Alto Networks, Inc. (NASDAQ:PANW), rating the stock as Buy and setting a price target of $585.
Hedge funds are loading up on Palo Alto Networks, Inc. (NASDAQ:PANW), as Insider Monkey’s data shows that 73 funds were bullish on the stock as of the end of the fourth quarter of 2021, with collective stakes amounting to $6.4 billion.
Even after selling 25,000 shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, NWI Management still holds 50,000 shares of the company worth about $27.84 million.
7. Apple Inc. (NASDAQ:AAPL)
NWI Management Stake Value: $29,832,000
Percentage of NWI Management’s 13F Portfolio: 1.96%
Number of Hedge Fund Holders: 134
Apple Inc. (NASDAQ:AAPL) develops, manufactures, and sells smartphones, tablets, laptops, wearables, accessories, and other products and services. Following Apple Inc. (NASDAQ:AAPL)’s outstanding Q4 earnings, Tigress Financial analyst Ivan Feinseth boosted his price target to $210 from $198 and reiterated a Strong Buy recommendation on the stock. On January 27, Apple Inc. (NASDAQ:AAPL)’s first quarter revenue came in at $123.94 billion, up 11.2% Y/Y, beating the estimates by $5.41 billion.
NWI Management started investing in Apple Inc. (NASDAQ:AAPL) during the fourth quarter of 2014, with a stake worth roughly $128.04 million. In Q4 2021, the hedge fund held shares worth $29.83 million. Apple Inc. (NASDAQ:AAPL) represents close to 1.96% of the hedge fund’s 13F portfolio.
Legendary investor and billionaire Warren Buffett’s Berkshire Hathaway is the most significant stakeholder of Apple Inc. (NASDAQ:AAPL) in the fourth quarter of 2021. The Oracle of Omaha owns 887.14 million shares of the company worth $157.53 billion.
In its fourth-quarter 2021 investor letter, Alger mentioned Apple Inc. (NASDAQ:AAPL). Here is what the fund said:
“Apple is a leading technology provider in telecommunications, computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives tight engagement with consumers and enterprises, fostering the growing purchases of high-margin services like music, apps and Apple Pay. Apple’s quarterly earnings exceeded street estimates on strong margin realization driven by a sales mix of more profitable services. The margin strength was even more impressive given significantly higher freight costs and supply constraints that prevented approximately $6 billion in revenue realization.”
6. Amazon.com, Inc. (NASDAQ:AMZN)
NWI Management Stake Value: $35,344,000
Percentage of NWI Management’s 13F Portfolio: 2.32%
Number of Hedge Fund Holders: 279
Amazon.com, Inc. (NASDAQ:AMZN) is an e-commerce, cloud computing, digital streaming, and artificial intelligence-focused American multinational technology firm. Following the company’s fourth-quarter results, Citi analyst Jason Bazinet on February 9 raised his price target for Amazon.com, Inc. (NASDAQ:AMZN) from $4,100 to $4,115 and maintained a Buy rating on the shares.
On February 17, Amazon.com, Inc. (NASDAQ:AMZN) and Barclays PLC (NYSE:BCS) announced a partnership in the United Kingdom for installment payments. This partnership will enable Amazon.com, Inc. (NASDAQ:AMZN) customers in the United Kingdom to utilize installments by Barclays to finance purchases of £100 ($136) or more.
In Q4 2021, the number of hedge funds tracked by Insider Monkey having stakes in Amazon.com, Inc. (NASDAQ:AMZN) was 279, up from 242 in the preceding quarter. These stakes hold a value of over $49 billion.
Like Advanced Micro Devices, Inc. (NASDAQ:AMD), Adobe Inc. (NASDAQ:ADBE), and NVIDIA Corporation (NASDAQ:NVDA), Amazon.com, Inc. (NASDAQ:AMZN) is also one of the important stocks in Hariharan’s Investment portfolio.
Weitz Investment Management published its fourth-quarter 2021 investor letter in which it mentioned Amazon.com, Inc. (NASDAQ:AMZN). Here is what the experts at Weitz Investment Management had to say about the company:
“Several “platform” companies thrived during COVID and have been very strong stocks. In 2021, their businesses continued to thrive, though their stock prices cooled off. Amazon continues to steamroll the competition and grow rapidly, but its stock ended the year about where it began.”
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Disclosure: None. 10 Stocks to Buy Now According to Hari Hariharan’s NWI Management is originally published on Insider Monkey.
