In this piece, we will take a look at Jorge Paulo Lemann’s stock portfolio. If you want to go through our overview of Lemann, his firm, and the latest news revolving around 3G Capital, then you can go ahead to Jorge Paulo Lemann’s Hedge Fund 3G Is Betting On These Stocks.
5. Goosehead Insurance Inc. (NASDAQ:GSHD)
Number of Hedge Fund Investors: 26
3G Capital’s Q4 2023 Investment Value: $18.95 million
Goosehead Insurance, Inc. (NASDAQ:GSHD) operates as a provider of insurance agency search services in the United States, functioning as the holding company for Goosehead Financial, LLC.
On March 28, Piper Sandler revised its position on Goosehead Insurance Inc. (NASDAQ:GSHD), increasing the price target from $85 to $88 while upholding an Overweight rating on the stock. This adjustment comes amidst a recent decline in the company’s share price, attributed to anticipated short-term challenges in the first-quarter earnings. Nevertheless, the analyst at the firm remains optimistic, foreseeing Goosehead Insurance’s full-year results aligning with the company’s guidance.
In the fourth quarter, 3G Capital increased its stake in Goosehead Insurance Inc. (NASDAQ:GSHD) by 20%, concluding the period with 250,000 shares valued at approximately $18.95 million. Overall, 26 hedge funds reported holding stakes in the company during Q4 2023.
4. JD.com, Inc. (NASDAQ:JD)
Number of Hedge Fund Investors: 56
3G Capital’s Q4 2023 Investment Value: $20.2 million
JD.com, Inc. (NASDAQ:JD) is a Chinese company specializing in supply chain-based technologies and services. Its product range encompasses a variety of categories including electronics, home appliances, food and beverages, furniture, cosmetics, and more.
Insider Monkey’s fourth quarter database indicates that 56 hedge funds expressed bullish sentiments towards JD.com, Inc. (NASDAQ:JD), marking an increase from 53 funds in the previous quarter. Notably, Chase Coleman’s Tiger Global Management held a significant position in the company, with 8.8 million shares valued at $254.35 million. JD.com, Inc. (NASDAQ:JD) also ranked high among Jorge Paulo Lemann’s top stock picks in the fourth quarter of 2023, with a stake worth $20.2 million.
3. Amazon.com Inc (NASDAQ:AMZN)
Number of Hedge Fund Investors: 293
3G Capital’s Q4 2023 Investment Value: $20.51 million
Based in Washington, Amazon.com, Inc. (NASDAQ:AMZN) is renowned for its expertise in e-commerce, AI, cloud computing, and online advertising, among other sectors.
Insider Monkey’s database, which monitors 933 elite hedge funds, reveals a positive sentiment towards Amazon.com, Inc. (NASDAQ:AMZN) in Q4. The number of hedge funds with investments in the stock rose to 293, up from 286 in the previous quarter.
Alger Spectra Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its fourth quarter 2023 investor letter:
“Amazon.com, Inc. (NASDAQ:AMZN) is a well-known online retailer and cloud computing leader. The company’s Amazon Web Services (AWS) business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. During the quarter, shares contributed to performance as Amazon reported strong fiscal third quarter results, where the company beat sales and earnings estimates. Moreover, AWS growth remained steady. contributing to Amazon’s better-than-expected operating income despite concerns around cloud cost optimizations, showing signs of increasing net new cloud workloads. While management noted that customers remain price-conscious and focused on deals, demand remains strong across all segments, leading the company to raise their fiscal fourth quarter revenue and operating income guidance.”
2. Analog Devices, Inc. (NASDAQ:ADI)
Number of Hedge Fund Investors: 62
3G Capital’s Q4 2023 Investment Value: $30.77 million
Analog Devices, Inc. (NASDAQ:ADI), an American semiconductor company, focuses on designing, manufacturing, and marketing analog, mixed-signal, and digital signal-processing integrated circuits. In its fiscal Q1 results, the company reported an adjusted EPS of $1.73, surpassing estimates by $0.02. Despite a 22.8% year-over-year decline, revenue reached $2.51 billion, exceeding estimates by $10 million.
At the end of December 2023, 62 hedge funds owned stakes in Analog Devices, Inc. (NASDAQ:ADI), compared with 64 in the previous quarter, as per Insider Monkey. The collective value of these stakes is over $4.44 billion. With over 4.3 million shares, Generation Investment Management was the company’s leading stakeholder in Q4. 3G Capital reported owning $30.77 million worth of stakes in the company for the same quarter.
1. Meta Platforms Inc (NASDAQ:META)
Number of Hedge Fund Investors: 242
3G Capital’s Q4 2023 Investment Value: $32.74 million
Meta Platforms, Inc. (NASDAQ:META) is an American multinational technology company renowned for providing social networking services and advertising solutions across platforms such as Facebook, Instagram, Threads, and WhatsApp.
Roth MKM analysts maintain a Buy rating and a $500 price target on Meta Platforms, Inc. (NASDAQ:META) as of March 18.
According to Insider Monkey’s fourth-quarter 2023 database, 242 hedge funds held stakes in Meta Platforms, Inc. (NASDAQ:META), collectively valued at $44 billion. This represents an increase from the preceding quarter, where 234 hedge funds held positions valued at $35 billion.
Sequoia Fund stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its fourth quarter 2023 investor letter:
“Two additional trims, in Meta Platforms, Inc. (NASDAQ:META) and Carmax, were more substantive in nature. When Meta’s stock declined in 2022, we judged it to be significantly mispriced and held our ground through the bottom. We trimmed the position serially last year as the stock soared because we were wary of holding a large position exposed to significant regulatory risks, particularly in Europe. We are comfortable owning Meta at today’s much-reduced weighting and current valuation. The smaller position size reflects our updated assessment of the balance of long-term risk versus reward.”
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