Billionaire Michael Platt’s Top 5 Stock Picks

2. Mr Cooper Group Inc (NASDAQ:COOP)

Shares held by BlueCrest Capital Management: 817,222

Value of Position: $33.48 million

Mr Cooper Group Inc (NASDAQ:COOP) is a provider of home loan services in the US and its stock has appreciated by 14% so far this year. Amid this growth, BlueCrest added nearly 295,000 shares to its position during the first quarter.

Earlier this month, Mr Cooper Group Inc (NASDAQ:COOP) announced reaching an agreement to acquire Home Point Capital Inc (NASDAQ:HMPT) for $324 million in cash. In addition, Mr Cooper will assume $500 million worth of Home Point’s outstanding debt due in February 2026. Following the acquisition, which is expected to be completed in the third quarter, Home Point will shut down its operations and Mr Cooper Group Inc (NASDAQ:COOP) will get an $84 billion servicing portfolio.

There were just 29 funds tracked by Insider Monkey bullish on Mr Cooper Group Inc (NASDAQ:COOP) at the end of March. Among these funds, Parag Vora’s HG Vora Capital Management, Ric Dillon’s Diamond Hill Capital, and David Rosen’s Rubric Capital Management rank as the top shareholders with stakes worth $133.15 million, $113.80 million, and $109.66 million, respectively.