Brian Higgins’ King Street Capital Portfolio: Top 5 Stock Picks

1. T-Mobile US, Inc. (NASDAQ:TMUS)

King Street Capital’s Stake Value: $99,273,000

Percentage of King Street Capital’s 13F Portfolio: 8.37%

Number of Hedge Fund Holders: 89

T-Mobile US, Inc. (NASDAQ:TMUS) is the largest holding in Brian Higgins’ Q3 portfolio, representing 8.37% of his total 13F securities. Higgins, via King Street Capital, holds 777,030 shares in T-Mobile US, Inc. (NASDAQ:TMUS), valued at $99.2 million. T-Mobile US, Inc. (NASDAQ:TMUS) is the second largest wireless network operator in the United States. 

On November 2, the Q3 EPS for T-Mobile US, Inc. (NASDAQ:TMUS) amounted to $1.31, beating estimates by $0.82. Revenue for the quarter totaled $19.62 billion, missing estimates by -$593.78 million. After the Q3 earnings, Morgan Stanley analyst Simon Flannery on November 4 raised the price target on T-Mobile US, Inc. (NASDAQ:TMUS) to $152 from $148 and kept an Overweight rating on the shares. 

As of Q3 2021, 89 hedge funds monitored by Insider Monkey reported owning stakes worth $6.92 billion in T-Mobile US, Inc. (NASDAQ:TMUS), with Andreas Halvorsen’s Viking Global being the leading stakeholder in the company, holding a $1.3 billion stake. 

Here is what ClearBridge Investments has to say about T-Mobile US, Inc. (NASDAQ:TMUS) in its Q1 2021 investor letter:

“The portfolio’s quality bias and valuation discipline have generated compelling returns over time with typically strong relative results in more challenging environments as it did through the first three quarters of 2020. However, that same quality bias tends to create a more challenging relative performance environment for the Strategy during periods of sharp economic acceleration, which tend to benefit stocks that are more commodity linked or of lower quality. This has been the case during the vaccine- and stimulus-driven rally experienced late last year and during the most recent quarter. Sectors that lagged in the quarter included communication services, where T-Mobile trailed after generating robust returns earlier in the recovery.”

You can also take a look at Top 10 Stock Picks of Joe Huber’s Huber Capital Management and 10 Stocks to Sell According to Billionaire James Dinan.

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