4 Best Stocks to Buy According to Billionaire James Dinan

1. NextDecade Corporation (NASDAQ:NEXT)

York Capital Management’s Stake Value: $254,499,000

Percentage of York Capital Management’s 13F Portfolio: 82.73%      

Number of Hedge Fund Holders: 8

York Capital Management disclosed a stake in NextDecade Corporation (NASDAQ:NEXT) for the first time in its 13F filing for the third quarter of 2017. At the end of June, not only was the energy company the fund’s top stock pick but also accounted for almost 83% of the aggregate value of York Capital Management’s entire 13F portfolio. NextDecade Corporation (NASDAQ:NEXT) has also been among the best performers amongst the fund’s stock picks, with the company’s shares surging by 165% in the last 12 months.

Despite the run-up in NextDecade Corporation’s (NASDAQ:NEXT) stock, it seems several fund managers don’t believe this run will continue. The number of funds covered by Insider Monkey that disclosed holdings in the company declined to 8 at the end of June from 14 at the end of March this year. Funds that sold their entire stake in NextDecade Corporation (NASDAQ:NEXT) during Q2 included Dmitry Balyasny’s Balyasny Asset Management and Ari Zweiman’s 683 Capital Partners. On September 15, NextDecade Corporation (NASDAQ:NEXT) announced a private placement of its common stock whereby it will sell shares worth $85 million to 10 institutional investors for $5.50 per share.

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