In this article, we discuss the 9 stocks to buy according to Cyrus De Weck’s Portsea Asset Management based on Q2 holdings of the fund. If you want to skip our detailed analysis of Weck’s history, investment philosophy, and hedge fund performance, go directly to 5 Stocks to Buy According to Cyrus De Weck’s Portsea Asset Management.
Cyrus de Weck established Portsea Asset Management after leaving QVT Financial, a multi-strategy specialist. Cyrus de Weck currently works at Portsea Asset Management LLP as its Chief Investment Officer.
Portsea Asset Management is a London-based hedge fund that invests throughout the capital structure and takes a multi-strategy approach concentrating on European markets.
Some of the notable stocks in Portsea’s Q2 portfolio included Yandex N.V. (NASDAQ:YNDX), Starz Acquisition Llc (NASDAQ:STRZA), and Payoneer Global Inc. (NASDAQ:PAYO).
With this background in mind, let’s start our list of 9 stocks to buy according to Cyrus De Weck’s Portsea Asset Management. We used Weck’s 13F portfolio for Q2 2021 for this analysis.
Source:Pixabay
Why should we pay attention to hedge funds’ stock picks? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
Stocks to Buy According to Cyrus De Weck’s Portsea Asset Management
9. TWC Tech Holdings II Corp. (NASDAQ:TWCTU)
Portsea Asset Management Stake Value: $3,738,000
Percentage of Portsea Asset Management’s 13F Portfolio: 2.05%
Number of Hedge Fund Holders: N/A
On August 30, TWC Tech Holdings II Corp. (NASDAQ:TWCTU), a special purpose acquisition company, and Cellebrite DI Ltd. (NASDAQ:CLBT), a global leader in Digital Intelligence solutions for the public and private sectors, completed their previously announced business combination.
Citi analyst Tyler Radke is bullish on Cellebrite DI Ltd. (NASDAQ:CLBT). He sees no danger in the firm maintaining 20%+ revenue growth until FY24. On October 20, the analyst initiated coverage of Cellebrite with a “Buy” rating and gave a price target of $15.
8. NeoGames S.A. (NASDAQ:NGMS)
Portsea Asset Management Stake Value: $8,939,000
Percentage of Portsea Asset Management’s 13F Portfolio: 4.9%
Number of Hedge Fund Holders: 11
NeoGames S.A. (NASDAQ:NGMS), a major global iLottery provider, recently announced the start of a multi-year partnership with Lottomatica to bring award-winning content to its popular platforms.
Cyrus De Weck’s Portsea Asset Management bought 145,418 shares of NeoGames S.A. (NASDAQ:NGMS) in the second quarter of 2021.
At the end of the second quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $63.23 million in NeoGames S.A. (NASDAQ:NGMS), up from 9 the preceding quarter worth $52.95 million.
7. JOFF Fintech Acquisition Corp. (NASDAQ:JOFFU)
Portsea Asset Management Stake Value: $10,409,000
Percentage of Portsea Asset Management’s 13F Portfolio: 5.71%
Number of Hedge Fund Holders: N/A
JOFF Fintech Acquisition Corp. (NASDAQ:JOFFU) specializes in bringing together one or more companies through a merger, capital stock exchange, stock purchase, asset acquisition, reorganization, or similar business combinations. The company was established in the year 2020, and it is based in New York.
6. BTRS Holdings Inc. (NASDAQ:BTRS)
Portsea Asset Management Stake Value: $13,998,000
Percentage of Portsea Asset Management’s 13F Portfolio: 7.68%
Number of Hedge Fund Holders: 21
BTRS Holdings Inc. (NASDAQ:BTRS), cloud-based software and integrated payment processing solutions provider, paid $58 million to acquire iController, a B2B supplier of intelligent collections management solutions. Robert Joseph Caruso’s Select Equity Group is the company’s most significant shareholder, with 4.66 million shares worth $58.86 million.
On August 24, BofA analyst Jason Kupferberg commenced coverage of BTRS Holdings Inc. (NASDAQ:BTRS), rating the stock as “Buy” and giving a price target of $13.
Cyrus De Weck’s Portsea Asset Management raised its position in BTRS Holdings Inc. (NASDAQ:BTRS) by 4% to 1.11 million shares in the second quarter, accounting for just over 7.68% of the overall portfolio.
Yandex N.V. (NASDAQ:YNDX), Starz Acquisition Llc (NASDAQ:STRZA), and Payoneer Global Inc. (NASDAQ:PAYO) are some of the stocks to buy according to Cyrus De Weck’s Portsea Asset Management, just like BTRS Holdings Inc. (NASDAQ:BTRS).
Click to continue reading and see 5 Stocks to Buy According to Cyrus De Weck’s Portsea Asset Management.
Suggested articles:
- 10 Best Stocks to Buy According to Peter Lewis’ LFL Advisers
- 12 Best Software Stocks To Buy According To Hedge Funds
- 10 Best Oil Stocks To Buy According To Hedge Funds
Disclosure: None. 9 Stocks to Buy According to Cyrus De Weck’s Portsea Asset Management is originally published on Insider Monkey.
