In this article, we discuss Jacob Rothschild and his top 5 stock picks. If you want to read about some more stocks in the Rothschild portfolio, go directly to Jacob Rothschild Stock Portfolio: 10 Top Stock Picks.
5. Corteva, Inc. (NYSE:CTVA)
Number of Hedge Fund Holders: 46
Corteva, Inc. (NYSE:CTVA) operates in the agriculture business. Latest filings show that RIT Capital Partners owned 702,310 shares in Corteva, Inc. (NYSE:CTVA) at the end of September 2023 worth $35 million, representing 9% of the portfolio.
On November 10, investment advisory Bank of America maintained a Neutral rating on Corteva, Inc. (NYSE:CTVA) stock and lowered the price target to $52 from $55, noting the drop in crop pricing was the reason behind the recent stock selloff.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in Corteva, Inc. (NYSE:CTVA) with 4.8 million shares worth more than $246 million.
In its Q3 2023 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Corteva, Inc. (NYSE:CTVA) was one of them. Here is what the fund said:
“Corteva, Inc. (NYSE:CTVA) is a leading provider of seed and crop protection chemicals. We believe the seed and crop protection markets have sizeable barriers to entry due to the duration and magnitude of investment required to compete. Both industries require constant innovation: Farmers expect seed yield improvement each year while nature develops immunity to crop protection chemicals over time. As a result, advantages accrue to the largest players with the most R&D resources. Within this context, we believe Corteva is very well positioned. The company has scale, well-recognized brands, a loyal customer base, and a promising R&D pipeline. In addition, we see idiosyncratic opportunities for Corteva to improve its profitability over time, and we believe the current management team is executing well against this opportunity. More recently, the stock has been pressured by near-term headwinds related to inventory destocking and declining crop prices. We see this weakness as an opportunity to invest in a high-quality and defensible business at a discount to both its own historical trading multiple and private market transactions.”
4. Marsh & McLennan Companies, Inc. (NYSE:MMC)
Number of Hedge Fund Holders: 53
Marsh & McLennan Companies, Inc. (NYSE:MMC) operates as a professional services firm. 13F filings show that RIT Capital Partners owned 203,100 shares in Marsh & McLennan Companies, Inc. (NYSE:MMC) at the end of September 2023 worth $38 million, representing 9.68% of the portfolio.
On October 20, investment advisory RBC Capital maintained a Sector Perform rating on Marsh & McLennan Companies, Inc. (NYSE:MMC) stock and raised the price target to $200 from $195, noting the strong earnings of the firm in the third quarter.
At the end of the second quarter of 2023, 53 hedge funds in the database of Insider Monkey held stakes worth $1.8 billion in Marsh & McLennan Companies, Inc. (NYSE:MMC), compared to 55 in the preceding quarter worth $1.2 billion.
In its Q2 2023 investor letter, Madison Investments, an asset management firm, highlighted a few stocks and Marsh & McLennan Companies, Inc. (NYSE:MMC) was one of them. Here is what the fund said:
“Overall portfolio activity remained low in the quarter. We purchased Elevance Health and trimmed Marsh & McLennan Companies, Inc. (NYSE:MMC) and Arch Capital. The two trims were for portfolio risk management reasons; we remain delighted with corporate performance at both companies and maintain sizeable investments in each. There were no portfolio eliminations.”
3. Canadian Pacific Kansas City Limited (NYSE:CP)
Number of Hedge Fund Holders: 52
Canadian Pacific Kansas City Limited (NYSE:CP) owns and operates a transcontinental freight railway. Latest data shows that RIT Capital Partners owned 576,000 shares of Canadian Pacific Kansas City Limited (NYSE:CP) at the end of the third quarter of 2023 worth $42.8 million, representing 10.7% of the portfolio.
On September 12, investment advisory Argus maintained a Buy rating on Canadian Pacific Kansas City Limited (NYSE:CP) stock and lowered the price target to $84 from $92.
At the end of the second quarter of 2023, 52 hedge funds in the database of Insider Monkey held stakes worth $8.1 billion in Canadian Pacific Kansas City Limited (NYSE:CP), compared to 48 in the preceding quarter worth $7.7 billion.
In its first half 2023 investor letter, Pershing Square Holdings, an asset management firm, highlighted a few stocks and Canadian Pacific Kansas City Limited (NYSE:CP) was one of them. Here is what the fund said:
“Canadian Pacific Kansas City Limited (NYSE:CP) is a high-quality business with significant earnings growth potential that operates in an oligopolistic industry with considerable barriers to entry and significant pricing power due to its high quality competitive transportation offering. After receiving regulatory approval from the Surface Transportation Board on March 15, Canadian Pacific closed the acquisition of Kansas City Southern on April 14th and renamed the combined company Canadian Pacific Kansas City.
CPKC is a high-quality business with significant earnings growth potential that operates in an oligopolistic industry with considerable barriers to entry and significant pricing power due to its high quality competitive transportation offering. After receiving regulatory approval from the Surface Transportation Board on March 15, Canadian Pacific closed the acquisition of Kansas City Southern on April 14th and renamed the combined company Canadian Pacific Kansas City. …” (Click here to read the full text)
2. Thermo Fisher Scientific Inc. (NYSE:TMO)
Number of Hedge Fund Holders: 103
Thermo Fisher Scientific Inc. (NYSE:TMO) markets analytical instruments, specialty diagnostics, and laboratory products. Securities filings show that RIT Capital Partners owned 91,300 shares in Thermo Fisher Scientific Inc. (NYSE:TMO) at the end of the third quarter of 2023 worth $46 million, representing 11.58% of the portfolio.
On October 26, Morgan Stanley analyst Tejas Savant maintained an Overweight rating on Thermo Fisher Scientific Inc. (NYSE:TMO) stock and lowered the price target to $545 from $600, noting the firm had intact long-term fundamentals.
At the end of the second quarter of 2023, 103 hedge funds in the database of Insider Monkey held stakes worth $7 billion in Thermo Fisher Scientific Inc. (NYSE:TMO), up from 98 in the preceding quarter worth $6.2 billion.
1. Mastercard Incorporated (NYSE:MA)
Number of Hedge Fund Holders: 139
Mastercard Incorporated (NYSE:MA) is a technology company that provides transaction processing and other payment-related products and services. Regulatory filings show that RIT Capital Partners owned 135,100 shares in Mastercard Incorporated (NYSE:MA) at the end of September 2023 worth $53 million, representing 13.39% of the portfolio.
On October 30, Mizuho analyst Dan Dolev maintained a Buy rating on Mastercard Incorporated (NYSE:MA) stock and lowered the price target to $420 from $435, citing earnings as one of the reasons behind the price update.
At the end of the second quarter of 2023, 139 hedge funds in the database of Insider Monkey held stakes worth $14.7 billion in Mastercard Incorporated (NYSE:MA), compared to 138 in the previous quarter worth $14.20 billion.
In its Q3 2023 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Mastercard Incorporated (NYSE:MA) was one of them. Here is what the fund said:
“Performance in Payments was bolstered by gains from Mastercard Incorporated. Shares of global payment network Mastercard were up modestly after reporting a continuation of double-digit earnings growth and resilient payment volumes.”
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