RiverPark Advisors, LLC recently published its Q4 2020 RiverPark Large Growth Fund commentary – a copy of which can be downloaded here. During the fourth quarter of 2020, the RiverPark Large Growth Fund returned 18.66% (institutional shares), compared to the total return of 12.15% by the S&P 500 Index. You should check out RiverPark’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q4 2020 Investor Letter, the fund highlighted a few stocks and Blackstone Group Inc (NYSE:BX) is one of them. Blackstone Group Inc (NYSE:BX) is an alternative investment management company. In the last three months, Blackstone Group Inc (NYSE:BX) stock gained 14.3% and on March 19th it had a closing price of $72.47. Here is what the fund said:
“Alternative asset manager Blackstone was our next top contributor in the 4th quarter, also on solid third quarter results. BX continues to generate consistently strong feerelated earnings, up 39% year over year to $611 million, and continues to grow its Fee-Earning Assets Under Management (AUM), which grew 13% year over year to $445 billion. The company also provided a strong outlook for future realizations and performance fees, which have been delayed due to COVID market disruptions.
The vast majority of Blackstone’s capital is long-dated or even permanent, and most of its fees, which are high-margin and recurring, are not sensitive to disruptions in near-term market prices (if the company chooses to delay exits to future periods only the realization of performance fees are delayed). The company also has $152 billion of capital available to invest and has historically been quite active during periods of market turmoil. We continue to view BX as one of the better risk-reward holdings in our portfolio (as we do our other alternative asset managers KKR and Apollo Global Management), offering substantially better-than-average growth and cash flow fundamentals, and a world class management team, as well as a 3.4% dividend yield.”
Last month, we published an article revealing that Blackstone Group Inc (NYSE:BX) was one of the top 5 stock picks of billionaire Julian Robertson.
In Q3 2020, the number of bullish hedge fund positions on Blackstone Group Inc (NYSE:BX) stock increased by about 4% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Blackstone’s growth potential. Our calculations showed that Blackstone Group Inc (NYSE:BX) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:
Disclosure: None. This article is originally published at Insider Monkey.
