5 Best Stocks to Buy According to Billionaire Jeffrey Talpins

2. Tencent Music Entertainment Group (NYSE: TME)

Talpins’ Stake Value: $46,517,000
Percentage of Jeffrey Talpins’ 13F Portfolio: 10.65%
Number of Hedge Fund Holders: 63

Tencent Music Entertainment Group (NYSE: TME) is a company that is dominating the music streaming industry in China, being the most popular online music entertainment company in the country. With over 2.2 million shares in the company worth $46.5 million, Element Capital Management is a major investor in TME. It is ranked 2nd on the list of the best stocks to buy, according to billionaire Jeffrey Talpin as a result. While Tencent Music Entertainment Group (NYSE: TME) has outperformed streaming services such as Spotify Technology S.A. (NYSE: SPOT), in terms of profitability, its stock dropped in March after Archegos Capital Management failed to respond to a margin call on its stock portfolio. Resultantly, there was a forced liquidation of its entire holding, including a stake in Tencent Music Entertainment Group (NYSE: TME). However, from Talpins’ investment record in the company and its total revenue of $1.19 billion in the first quarter of this year, one can conclude that it is a profitable stock to buy.

D E Shaw currently holds 17.1 million shares of TME that amounts to $350.9 million. TME occupies 0.33% of D E Shaw’s total portfolio.