In this article, we discuss 6 stocks to buy according to Zach Schreiber’s PointState Capital. If you want to skip our detailed analysis of Zach Schreiber’s history, investment philosophy, and hedge fund performance, go directly to 3 Stocks To Buy According To Zach Schreiber’s PointState Capital.
In 2011, Zach Schreiber founded PointState Capital in New York, and he serves as the CEO and chief investment officer at the investment firm. PointState Capital holds approximately $6 billion in managed 13F securities and employs different investment strategies to grow its portfolio, including long/short equities, global macro, relative value investing, commodity investing, and special situations investing, among others.
The investment firm is keen on a wide range of industries, including utilities and telecommunications, information technology, healthcare, finance, consumer discretionary, and communications. At the end of Q3, Schreiber made new purchases in 63 stocks, bought additional stakes in 26, sold out of 53 securities, and reduced holdings in 35 stocks.
The most notable stocks in Zach Schreiber’s Q3 portfolio are Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), among others. These stocks are immensely popular among hedge funds as well.
Our Methodology
Let’s dive into 6 stocks to buy according to Zach Schreiber’s PointState Capital. We compiled this list using the Q3 portfolio of PointState Capital.
For further context on each stock, we have mentioned the third quarter earnings, analyst ratings, and the hedge fund sentiment around the holdings.
Stocks To Buy According To Zach Schreiber’s PointState Capital
6. Cano Health, Inc. (NYSE:CANO)
PointState Capital’s Stake Value: $9,335,000
Percentage of PointState Capital’s 13F Portfolio: 0.15%
Number of Hedge Fund Holders: 37
Cano Health, Inc. (NYSE:CANO) is a health care and medical services company in the United States, offering wellness and preventive care to patients. Cano Health, Inc. (NYSE:CANO) offers diabetes care, arthritis and pain management, cardiovascular, chiropractic care, and weight loss programs to patients. It also offers door-to-door pharmacy service, delivering prescriptions at no cost to patients. Cano Health, Inc. (NYSE:CANO) is one of the top stocks in Zach Schreiber’s Q3 portfolio.
PointState Capital owns 736,220 shares of Cano Health, Inc. (NYSE:CANO), worth $9.33 million, making up 0.15% of Schreiber’s Q3 13F portfolio.
Out of the 867 hedge funds tracked by Insider Monkey, 37 funds were long Cano Health, Inc. (NYSE:CANO) at the end of Q3, with stakes totaling $873.4 million.
On October 20, Jefferies analyst Brian Tanquilut kept a Buy rating on the stock, with a price target of $17. He stated that there was considerable upside potential and the past profitable track record makes Cano Health, Inc. (NYSE:CANO) a valuable investment.
Cano Health, Inc. (NYSE:CANO) is a top stock in Schreiber’s Q3 portfolio, just like Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB).
7. Centene Corporation (NYSE:CNC)
PointState Capital’s Stake Value: $10,281,000
Percentage of PointState Capital’s 13F Portfolio: 0.17%
Number of Hedge Fund Holders: 50
Centene Corporation (NYSE:CNC) is an American health care provider, which has a wide portfolio of innovative healthcare solutions for everyone, from kids, families, and senior citizens to veterans and individuals in correctional facilities. Centene Corporation (NYSE:CNC) offers health insurance, medicare, and medicaid to eligible low income members of the society, and makes local care available to all.
PointState Capital owns 165,000 shares in Centene Corporation (NYSE:CNC), worth $10.2 million, making up 0.17% of the firm’s Q3 investment portfolio.
On October 26, Centene Corporation (NYSE:CNC) announced earnings for Q3. The EPS came in at $1.26, beating estimates by $0.03. The company’s revenue totaled $32.41 billion, exceeding estimates by $780.90 million.
At the end of September, 50 hedge funds were invested in Centene Corporation (NYSE:CNC), up from 49 in the previous quarter.
Citi analyst Ralph Giacobbe on November 1 downgraded Centene Corporation (NYSE:CNC) from Buy to Neutral, owing to higher competition in healthcare in 2022, and lower margins due to increasing costs.
Just like Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), Centene Corporation (NYSE:CNC) is a notable stock from PointState Capital’s Q3 portfolio.
8. Las Vegas Sands Corp. (NYSE:LVS)
PointState Capital’s Stake Value: $45,691,000
Percentage of PointState Capital’s 13F Portfolio: 0.76%
Number of Hedge Fund Holders: 40
Based in Paradise, Nevada, Las Vegas Sands Corp. (NYSE:LVS) is a casino and resort company that develops and operates tourist establishments across North America and Asia. Las Vegas Sands Corp. (NYSE:LVS) develops, operates and sells luxury hotel resorts that accommodate gambling, entertainment, clubs, and restaurants, as well as other activities to keep visitors engaged. Some of the famous properties in Las Vegas Sands Corp. (NYSE:LVS)’s portfolio include The Venetian, The Palazzo, The Londoner, The Parisian, and the Marina Bay Sands. These properties are located across Las Vegas, Singapore, and Macao.
PointState Capital owns 1.24 million shares of Las Vegas Sands Corp. (NYSE:LVS), worth $45.6 million, representing 0.76% of Schreiber’s Q3 portfolio. As of the third quarter of 2021, 40 hedge funds were bullish on Las Vegas Sands Corp. (NYSE:LVS).
Las Vegas Sands Corp. (NYSE:LVS) reported October 20 its Q3 results, posting a loss per share of $0.45, missing estimates by $0.19. The revenue came in at $857 million, missing estimated revenue by $353.08 million.
Like Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN) and Meta Platforms, Inc. (NASDAQ:FB), Las Vegas Sands Corp. (NYSE:LVS) is a notable stock pick of PointState.
Here is what Baron Funds has to say about Las Vegas Sands Corp. (NYSE:LVS) in its Q2 2021 investor letter:
“The shares of Las Vegas Sands Corporation, a leading developer of luxury casino resorts in Macau and Singapore, declined in the most recent quarter in large part due to COVID-19 travel-related restrictions. We believe the shares are attractively valued and will recover sharply when travel restrictions are lifted.”
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Disclosure: None. 6 Stocks To Buy According To Zach Schreiber’s PointState Capital is originally published on Insider Monkey.
