In this article, we discuss the top 5 stocks in Constantine Mamakos’ portfolio. If you want to see our detailed analysis of Mamakos’ history, investment philosophy, and hedge fund performance, go directly to Constantine Mamakos’ Portfolio: Top 10 Stocks.
5. JPMorgan Chase & Co. (NYSE:JPM)
Venator Management’s Stake Value: $24.1 million
Percentage of Venator Management’s 13F Portfolio: 6.53%
Number of Hedge Fund Holders: 108
Incorporated in Delaware, and based in New York, JPMorgan Chase & Co. (NYSE:JPM) is a multinational financial services and investment banking firm that offers financial advisory services and solutions across the globe.
On October 11, Jefferies analyst Ken Usdin raised his price target on JPMorgan Chase & Co. (NYSE:JPM) to $198 from $177, and maintained a Buy rating on the shares.
Constantine Mamakos of Venator Management currently holds 155,037 shares in the company, amounting to more than $24.1 million in worth and accounting for 6.53% of his hedge fund’s total portfolio value. By the end of the June quarter, 108 hedge funds out of the 873 tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE:JPM) worth roughly $4.8 billion. This is compared to 111 hedge funds in the previous quarter with a total stake value of approximately $5.2 billion.
4. BRP Group, Inc. (NASDAQ:BRP)
Venator Management’s Stake Value: $33.6 million
Percentage of Venator Management’s 13F Portfolio: 9.12%
Number of Hedge Fund Holders: 13
BRP Group, Inc. (NASDAQ:BRP) is an independent insurance distribution firm that delivers insurance and risk management insights and solutions. The company operates through the following segments: Middle Market, Specialty, Mainstreet, and Medicare.
On September 16, Wells Fargo analyst Elyse Greenspan raised her price target on BRP Group, Inc. (NASDAQ:BRP) to $39 from $34, and kept an Overweight rating on the company’s shares.
As of the end of the second quarter, 13 hedge funds tracked by Insider Monkey reported owning stakes in BRP Group, Inc. (NASDAQ:BRP). The total worth of these stakes is $108 million.
3. Uber Technologies, Inc. (NYSE:UBER)
Venator Management’s Stake Value: $34 million
Percentage of Venator Management’s 13F Portfolio: 9.24%
Number of Hedge Fund Holders: 135
Uber Technologies, Inc. (NYSE:UBER), more commonly known simply as Uber, is a technology company that provides transportation, food delivery, package delivery and courier services.
This September, Doug Anmuth of JPMorgan raised his price target on Uber Technologies, Inc. (NYSE:UBER) to $72, alongside an Overweight rating on the shares.
Constantine Mamakos’ Venator Management reported owning 680,014 shares in the company, worth more than $34 million and representing 9.24% of the fund’s investment portfolio. Overall, 135 hedge funds tracked by Insider Monkey were bullish on Uber Technologies, Inc. (NYSE:UBER) in Q2, valued at $10.4 billion. This shows that hedge fund sentiment is positive for the ride-hailing company as 130 hedge funds had stakes in the company in the first quarter.
ClearBridge Investments mentioned Uber Technologies, Inc. (NYSE:UBER) in its Q2 2021 investor letter. Here is what the firm has to say:
“The pandemic has also brought attention to the question of gig worker employment status for companies, including ClearBridge holdings Uber and Lyft. In the U.K., Uber proactively classified its drivers as “workers” ahead of final rulings from the British court system. The worker status in the U.K. is a designation between self-employed and employed status that entitles drivers to minimum wage, holiday pay and in some cases a pension.
ClearBridge has engaged with Uber on labor issues since its IPO, and we have given feedback over that time to the CEO, CFO, Chief Legal Officer and Investor Relations on labor relations as well as strategy and communications. Uber’s agreement on this designation is ahead of other competitors in the market and the legal mandate represents a step forward in the company’s thinking about labor. The agreement represents a short-term hit to earnings, yet in some ways it places Uber ahead of the market in its ability to balance labor and shareholder interests. Workers benefit from improved conditions, with new contributions amounting to roughly 3% of a driver’s earnings, while Uber establishes more certainty on costs and visibility into its regulatory environment and operation conditions in the future.”
2. Alphabet Inc. (NASDAQ:GOOG)
Venator Management’s Stake Value: $36.89 million
Percentage of Venator Management’s 13F Portfolio: 10%
Number of Hedge Fund Holders: 155
Alphabet Inc. (NASDAQ:GOOG) is a multinational conglomerate that operates as a diversified technology company. The California-based company owns and operates several internet-based platforms.
As of the end of the June quarter, 155 hedge funds out of the 873 tracked by Insider Monkey held stakes in Alphabet Inc. (NASDAQ:GOOG). According to the second quarter 13F Filings, Venator Management holds 14,722 shares in the company. These shares are worth more than $36.89 million and account for 10% of the fund’s total investment portfolio.
On October 12, JPMorgan analyst Doug Anmuth maintained an Overweight rating on Alphabet Inc. (NASDAQ:GOOG) with a $3,250 price target, noting that the company was the most liked mega-cap internet stock.
In its Q2 2021 investor letter, Mawer Investment Management named Alphabet Inc. (NASDAQ:GOOG) among the companies that reported strong results. Here is what the fund said:
“Many higher growth companies reported strong results amid the pick-up in broad economic activity including Alphabet. These higher growth companies tend to have increased sensitivity to a change in discount rates and were supported as long-term interest rates stabilized over the period.”
1. Facebook, Inc. (NASDAQ:FB)
Venator Management’s Stake Value: $56.5 million
Percentage of Venator Management’s 13F Portfolio: 15.32%
Number of Hedge Fund Holders: 266
Facebook, Inc. (NASDAQ:FB) is a multinational social networking services company based in Menlo Park, California. The tech titan has a market capitalization of $928.22 billion and is ranked first on our list of the top 10 stocks in Constantine Mamakos’ portfolio.
As of the end of the second quarter, 266 hedge funds tracked by Insider Monkey reported owning stakes in Facebook, Inc. (NASDAQ:FB). The total worth of these stakes is $42.34 billion. This shows the hedge fund sentiment is positive for the social media company as 257 funds had stakes in the company in the previous quarter, with a total worth of $40.96 billion.
By the end of the second quarter of 2021, Constantine Mamakos held 162,521 shares of Facebook, Inc. (NASDAQ:FB), amounting to more than $56.5 billion in worth and representing 15.32% of the fund’s total portfolio value.
On September 30, RBC Capital analyst Brad Erickson initiated coverage of Facebook, Inc. (NASDAQ:FB) with an Outperform rating alongside a $425 price target on the company’s shares.
First Eagle Investment Management, an investment management firm, In its Q2 2021 investor letter stated that Facebook, Inc. (NASDAQ:FB) was among the leading contributors in the fund’s portfolio for the quarter. Here is what the fund said:
“Leading contributors in the First Eagle Global Fund this quarter included Facebook, Inc. Class A. Facebook has continued to post impressive results for both revenue and active users of its traditional platforms. In the meantime, the social media giant continues to make progress on new initiatives—like Facebook Horizon (virtual reality) and Facebook Shops (e-commerce)—and maintains attractive monetization optionality around services like Messenger and WhatsApp.”
You can also take a look at Top Stocks to Invest In According to Jeffrey Ubben’s ValueAct Capital and 11 Stocks to Buy Now According to Jeffrey Gendell’s Tontine Asset Management
