In this article, we discuss the technology stocks Girish Kumar’s TenCore Partners is investing in. If you want to see our detailed analysis of Kumar’s history, investment philosophy, and hedge fund performance, go directly to Girish Kumar’s TenCore Partners is Investing in These 10 Technology Stocks.
5. Amazon.com, Inc. (NASDAQ:AMZN)
Kumar’s Stake Value: $59,618,000
Percentage of Girish Kumar’s 13F Portfolio: 8.58%
Number of Hedge Fund Holders: 271
Amazon.com, Inc. (NASDAQ:AMZN) is a multinational company that specializes in e-commerce, cloud computing, digital streaming and artificial intelligence. Ranked 5th on the list of the 10 technology stocks Girish Kumar’s TenCore Partners is investing in, Amazon.com, Inc.(NASDAQ:AMZN) has a market capitalization of $1.76 trillion.
Girish Kumar’s TenCore Partners currently owns 17,330 shares of Amazon.com, Inc. (NASDAQ:AMZN), amounting to $59.61 million in worth and representing 8.58% of the fund’s portfolio. There were 271 hedge funds in our database that held stakes in Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter of 2021, compared to 243 funds in the first quarter.
Out of the hedge funds being tracked by Insider Monkey, Martyn Taylor’s Crake Asset Management is a leading shareholder in Amazon.com, Inc. (NASDAQ: AMZN) with 68,500 shares worth more than $235 billion.
Amazon.com, Inc. (NASDAQ:AMZN) last released its earnings report on July 28, 2021, with reported earnings per share at $15.12, beating estimates of $12.22. Earnings for the e-commerce giant are expected to grow by 29.57% in the coming year.
In the Q2 2021 investor letter of L1 Capital, the fund mentioned Amazon.com, Inc. (NASDAQ:AMZN). Here is what the fund said:
“Amazon flipped from being the largest detractor from portfolio performance in the March 2021 quarter, to one of the leading contributors in the June 2021 quarter. We took advantage of negative near-term sentiment in the March 2021 quarter to add to our Amazon investment. We continue to view Amazon as one of the best positioned businesses globally, with its share price still not reflecting fair value.”
4. DoorDash, Inc. (NYSE:DASH)
Kumar’s Stake Value: $62,326,000
Percentage of Girish Kumar’s 13F Portfolio: 8.97%
Number of Hedge Fund Holders: 45
DoorDash, Inc. (NYSE:DASH) is an online food ordering and food delivery company based in San Francisco, U.S, and is considered the largest food delivery company in the United States. Ranked 4th on the list of the 10 technology stocks Girish Kumar’s TenCore Partners is investing in, DoorDash, Inc. (NYSE:DASH) has a market capitalization of $70.92 billion.
Girish Kumar’s TenCore Partners currently owns 349,500 shares in DoorDash, Inc. (NYSE:DASH), amounting to $62.32 million in worth and accounting for 8.97% of the fund’s portfolio. In Q2 2021, 45 hedge funds held stakes in DoorDash, Inc. (NYSE:DASH), compared with 38 in the previous quarter.
DoorDash, Inc. (NYSE:DASH) posted its earnings report on August 12, 2021, with a reported revenue of $1.24 billion, presenting an 83.7% year-over-year growth.
3. Salesforce.com, Inc. (NYSE:CRM)
Kumar’s Stake Value: $86,166,000
Percentage of Girish Kumar’s 13F Portfolio: 12.41%
Number of Hedge Fund Holders: 108
Salesforce.com, Inc. (NYSE:CRM) is a cloud-based software company headquartered in San Francisco, California. The company provides a number of services relating to customer service, application development and analytics. Ranked 3rd on the list of the 10 technology stocks Girish Kumar’s TenCore Partners is investing in, Salesforce.com, Inc. (NYSE:CRM) has a market capitalization of $250.78 billion.
Girish Kumar’s TenCore Partners currently owns 352,750 shares of Salesforce.com, Inc. (NYSE:CRM), worth $86.16 million and representing 12.41% of the fund’s total portfolio. The company last released its earnings report on August 24, 2021, with a reported earning of $1.48 per share on an adjusted basis, beating the consensus forecast of $0.93 per share by $0.55. The company also reported a revenue of $6.34 billion for that quarter.
ClearBridge Investments, in its Q1 2021 investor letter, mentioned Salesforce.com, Inc. (NYSE:CRM). Here is what the fund said:
“We added to our software-as-a-service (SaaS) exposure with the initiation of SaaS leader salesforce.com, which develops software for customer relationship management (we added Workday, which enterprise resource planning applications, last quarter). Saleforce.com is well-positioned in the most attractive end markets in software and will benefit from secular drivers such as remote work and the digital transformation. Salesforce.com is a sustainability leader as well, with a commitment to carbon-neutral cloud, toward which it has set a goal of 100% renewable energy for global operations by fiscal year 2022. The company has a strong focus on equality, in terms of equal rights, pay, education and opportunity. As a data company it has been leading on workforce disclosures and seeks to have 50% of its U.S. workforce made up of underrepresented groups by 2024.”
2. Facebook, Inc. (NASDAQ:FB)
Kumar’s Stake Value: $97,903,000
Percentage of Girish Kumar’s 13F Portfolio: 14.1%
Number of Hedge Fund Holders: 266
Facebook, Inc. (NASDAQ:FB) is a multinational social networking services company based in Menlo Park, California. Ranked 2nd on the list of the 10 technology stocks Girish Kumar’s TenCore Partners is investing in, Facebook, Inc. (NASDAQ:FB) has a market capitalization of $1.05 trillion.
Girish Kumar’s TenCore Partners currently owns 281,565 shares in Facebook, Inc. (NASDAQ:FB), amounting to $97.9 million in worth and accounting for 14.1% of the fund’s portfolio. At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Facebook, Inc. (NASDAQ:FB), compared to 257 in the previous quarter worth $40 billion.
In the Q2 2021 investor letter of Kinsman Oak Capital Partners, the fund mentioned Facebook, Inc. (NASDAQ:FB). Here is what they said:
“Our thesis on Facebook is largely playing out. The company overwhelmingly beat Q1 earnings estimates, and the growth outlook continues to look positive from here. Falling yields also benefitted the stock price as well. We continue to believe Facebook is attractively valued at ~12x FY22 EBITDA given its deep economic moat and underrated growth prospects.”
1. Alphabet Inc. (NASDAQ:GOOG)
Kumar’s Stake Value: $121,064,000
Percentage of Girish Kumar’s 13F Portfolio: 17.43%
Number of Hedge Fund Holders: 155
Alphabet Inc. (NASDAQ:GOOG) is a multinational technology company formed through the restructuring of Google in 2015. The company has a market capitalization of $1.93 trillion, and is ranked 1st on the list of the 10 technology stocks Girish Kumar’s TenCore Partners is investing in.
Girish Kumar’s TenCore Partners currently owns 49,580 shares of Alphabet Inc. (NASDAQ:GOOG), amounting to $121.06 million in worth, representing 17.43% of the fund’s portfolio. As of Q2 2021, 190 hedge funds tracked by Insider Monkey have positions in Alphabet Inc. Inc.
Qualivian Investment Partners, an investment management firm, mentioned Alphabet Inc. (NASDAQ:GOOG) in their Q2 2021 investor letter. Here is what the fund said:
“The opportunity in online advertising remains very attractive for Alphabet’s subsidiary Google. In the recent June quarter, Google’s ad sales grew 69%. Alphabet’s subsidiary YouTube’s ad revenue soared 84%, to $7 billion, in the second quarter, putting the business on par with Netflix, which reported quarterly revenue of $7.3 billion. Netflix is expected to grow sales by 19%, to $29.7 billion this year, while YouTube’s ad revenue is forecast to rise 45%, to $28.7 billion.
Alphabet slashed operating losses for the Google Cloud by more than half, as the business continues to scale, growing at 50%+ clips. Furthermore, the company continues to have potentially new growth options via its investments in autonomous driving (Waymo) and various healthcare businesses such as Verily and Calico.”
You can also take a look at 10 Best Stocks To Buy According To Billionaire Larry Robbins and 10 Best Tech Stocks to Buy According to Stanley Druckenmiller.
