In this article, we discuss 5 stocks Frederick DiSanto’s Ancora Advisors is investing in. If you want to see our detailed analysis of DiSanto’s history, investment philosophy, and hedge fund performance, go directly to Frederick DiSanto’s Ancora Advisors Is Investing In These 10 Stocks.
5. JPMorgan Chase & Co. (NYSE:JPM)
Ancora Advisors’ Stake Value: $45 million
Percentage of Ancora Advisors’ 13F Portfolio: 1.17%
Number of Hedge Fund Holders: 108
Based in New York, JPMorgan Chase & Co. (NYSE:JPM) is a multinational financial services and investment banking corporation that offers financial advisory services and solutions across the world. On October 22, the company announced an online bill payment and customer engagement platform through Paymentus Holdings, Inc. (NYSE:PAY).
On October 25, Wells Fargo analyst Mike Mayo raised the price target on JPMorgan Chase & Co. (NYSE:JPM) to $210 from $200, and maintained an Overweight rating on the shares, citing confidence in the company’s earnings capacity and consistency.
Based on the second quarter securities filings, Ancora Advisors holds 289,357 shares of JPMorgan Chase & Co. (NYSE:JPM), worth more than $45 million and accounting for 1.17% of the fund’s investment portfolio.
Of the 873 elite funds tracked by Insider Monkey, 108 were long in JPMorgan Chase & Co. (NYSE:JPM) at the end of June, compared to 111 in the first quarter of 2021. Ken Fisher’s Fisher Asset Management is a leading shareholder in the company.
4. Microsoft Corporation (NASDAQ:MSFT)
Ancora Advisors’ Stake Value: $63.6 million
Percentage of Ancora Advisors’ 13F Portfolio: 1.66%
Number of Hedge Fund Holders: 238
One of the top US tech companies, Microsoft Corporation (NASDAQ:MSFT) shares are up by 51% year-to-date. The firm announced a strategic partnership with Kyndryl Holdings, Inc. (NYSE:KD) on November 12. Becoming Kyndryl’s only Premier Global Alliance Partner, Microsoft Corporation (NASDAQ:MSFT) will have access to the $500 billion managed services market where the firm leads.
As of the second quarter of 2021, Frederick DiSanto has stakes worth $63.6 million in Microsoft Corporation (NASDAQ:MSFT), representing 1.66% of Ancora Advisors’ investment portfolio.
Of the 873 elite funds tracked by Insider Monkey, 238 were bullish on Microsoft Corporation (NASDAQ:MSFT) at the end of June. The total stake value of these positions amounted to approximately $62.4 billion. This is compared to 251 hedge funds in the first quarter of 2021, with a total stake of $58.9 billion.
Out of the hedge funds being tracked by Insider Monkey, Robert Koehn’s Ivy Lane Capital is the biggest shareholder in Microsoft Corporation (NASDAQ:MSFT), with 86,000 shares worth more than $23.29 billion.
On November 1, Deutsche Bank analyst Brad Zelnick initiated coverage of Microsoft Corporation (NASDAQ:MSFT) with a Buy rating and $390 price target. The analyst calls the firm “the gold standard of software stocks”.
Here is what Alger has to say about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2021 investor letter:
“Microsoft Corporation was among the top contributors to performance during the third quarter. Microsoft is a Positive Dynamic Change beneficiary of corporate America’s transformative digitization. Microsoft’s enterprise cloud product, Azure, is rapidly growing and accruing market share. Microsoft reported that Azure grew 51% in the second quarter. This high unit volume growth is a primary driver of the company’s higher share price, but the company’s strong operating execution has enabled margin expansion that has also helped to increase forward earnings estimates. We believe Microsoft’s subscription-based software offerings and cloud computing services have a durable growth profile because they enhance customers’ growth initiatives and help them to diminish costs. Additionally, investors appreciate Microsoft’s strong free cash flow generation and its return of cash to shareholders in the form of dividends and share repurchases.”
3. Apple Inc. (NASDAQ:AAPL)
Ancora Advisors’ Stake Value: $86.36 million
Percentage of Ancora Advisors’ 13F Portfolio: 2.25%
Number of Hedge Fund Holders: 138
Ancora Advisors, as of the second quarter, owns 630,546 shares in Apple Inc. (NASDAQ:AAPL), worth $86.36 million, representing 2.25% of the firm’s stock portfolio.
Of the 873 elite funds tracked by Insider Monkey, 138 were long Apple Inc. (NASDAQ:AAPL) at the end of June, up from 127 in the first quarter of 2021. Warren Buffett of Berkshire Hathaway is the leading stakeholder of the company.
On November 9, Arete analyst Richard Kramer raised the price target on Apple Inc. (NASDAQ:AAPL) to $180 from $168 and kept a Buy rating on the shares of the company.
ClearBridge Investments mentioned Apple Inc. (NASDAQ:AAPL) in its first-quarter 2021 investor letter. Here is what the firm has to say:
“As we actively manage holdings and position sizes, we look to regularly recycle capital into more compelling opportunities. Maintaining our valuation discipline, we sharply reduced our position in Apple, whose shares more than doubled following our initial purchase in mid-2019 with an earnings multiple rising from the low-to-mid teens to nearly 30x.”
2. Forward Air Corporation (NASDAQ:FWRD)
Ancora Advisors’ Stake Value: $165.6 million
Percentage of Ancora Advisors’ 13F Portfolio: 4.33%
Number of Hedge Fund Holders: 19
Forward Air Corporation (NASDAQ:FWRD) is a Tennessee-based leading provider of time-definite surface transportation and related logistics services across North America.
According to the 13F filings for the second quarter of 2021, Frederick DiSanto’s hedge fund holds over 1.85 million shares of Forward Air Corporation (NASDAQ:FWRD). These shares are valued at $165.6 million and account for 4.33% of his fund’s investment portfolio.
Chuck Royce of Royce & Associates is one of the biggest stakeholders of Forward Air Corporation (NADSAQ:FWRD) as of the end of the second quarter, according to the data tracked by Insider Monkey. Overall, 19 funds were bullish on the company by the end of the June quarter, compared to 13 in the previous quarter.
On October 29, Baird analyst Garrett Holland raised his price target on Forward Air Corporation (NASDAQ:FWRD) to $110 from $100, and maintained an Outperform rating on the shares.
1. Kohl’s Corporation (NYSE:KSS)
Ancora Advisors’ Stake Value: $192.5 million
Percentage of Ancora Advisors’ 13F Portfolio: 5.03%
Number of Hedge Fund Holders: 40
Kohl’s Corporation (NYSE:KSS) is a Wisconsin-based operator of family-oriented department stores that sell apparel, footwear and accessories.
At the end of the second quarter of 2021, 40 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Kohl’s Corporation (NYSE:KSS), up from 35 in the previous quarter worth $1.4 billion. Frederick DiSanto’s Ancora Advisors reported owning more than 3.49 million shares of Kohl’s Corporation (NYSE:KSS), amounting to approximately $192.5 million and representing 5.03% of the investment firm’s portfolio value.
Out of the hedge funds tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is among the leading shareholders in Kohl’s Corporation (NYSE:KSS), with over 3.4 million shares worth more than $188.4 million.
Baird analyst Mark Altschwager recently raised the price target on the stock to $70 from $68 and kept an Outperform rating on Kohl’s Corporation (NYSE:KSS), underlining that the firm had made positive changes to its operating model.
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