3 Stocks To Buy According To Zach Schreiber’s PointState Capital

1. Uber Technologies, Inc. (NYSE:UBER)

PointState Capital’s Stake Value: $175,349,ooo

Percentage of PointState Capital’s 13F Portfolio: 2.92%

Number of Hedge Fund Holders: 143

Uber Technologies, Inc. (NYSE:UBER) is one of the top stocks in Zach Schreiber’s portfolio as of the third quarter. PointState Capital owns a $175.3 million stake in the ride-hailing company that revolutionized cab services across the globe, in more than 900 cities.  

Uber Technologies, Inc. (NYSE:UBER) announced a partnership with Bed Bath & Beyond Inc. (NASDAQ:BBBY) and Buy Buy Baby, Inc. on November 1, where baby and kid essentials will be delivered door to door via Uber and Uber Eats apps in the United States.

Similarly, Uber Technologies, Inc. (NYSE:UBER) announced a deal with Tesla, Inc. (NASDAQ:TSLA) on October 24, where drivers would have access to 50,000 EVs by Tesla, Inc. (NASDAQ:TSLA). This can potentially kickstart the lucrative robotaxi industry in the United States. This is also a step in the right direction for Uber Technologies, Inc. (NYSE:UBER), as it will result in higher profitability and net revenue for the company. 

At the end of the third quarter, 143 hedge funds tracked by Insider Monkey were long Uber Technologies, Inc. (NYSE:UBER), up from 135 in Q1. 

Here is what ClearBridge Investments has to say about Uber Technologies, Inc. (NYSE:UBER) in its Q2 2021 investor letter:

“The pandemic has also brought attention to the question of gig worker employment status for companies, including ClearBridge holdings Uber and Lyft. In the U.K., Uber proactively classified its drivers as “workers” ahead of final rulings from the British court system. The worker status in the U.K. is a designation between self-employed and employed status that entitles drivers to minimum wage, holiday pay and in some cases a pension.

ClearBridge has engaged with Uber on labor issues since its IPO, and we have given feedback over that time to the CEO, CFO, Chief Legal Officer and Investor Relations on labor relations as well as strategy and communications. Uber’s agreement on this designation is ahead of other competitors in the market and the legal mandate represents a step forward in the company’s thinking about labor. The agreement represents a short-term hit to earnings, yet in some ways it places Uber ahead of the market in its ability to balance labor and shareholder interests. Workers benefit from improved conditions, with new contributions amounting to roughly 3% of a driver’s earnings, while Uber establishes more certainty on costs and visibility into its regulatory environment and operation conditions in the future.”

You can also take a look at Yale University Stock Portfolio: Top 10 Picks and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

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