In this article, we discuss the top 5 stock picks of legendary value investor Seth Klarman. If you want to read our detailed analysis of these stocks, go directly to Legendary Value Investor Seth Klarman’s Portfolio: Top 10 Stock Picks.
5. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 156
Alphabet Inc. (NASDAQ:GOOG) provides online advertising services. Regulatory filings show that Baupost Group owned 290,930 shares in Alphabet Inc. (NASDAQ:GOOG) at the end of the third quarter of 2021 worth over $775 million, representing 7.12% of the portfolio.
Tigress Financial analyst Ivan Feinseth recently maintained a Strong Buy rating on Alphabet Inc. (NASDAQ:GOOG) stock and raised the price target to $3,540 from $3,185, noting that the artificial intelligence focus of the firm was driving product functionality.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 2.9 million shares worth more than $7.8 billion.
In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:
“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”
4. Qorvo, Inc. (NASDAQ:QRVO)
Number of Hedge Fund Holders: 44
Qorvo, Inc. (NASDAQ:QRVO) markets semiconductor products and services. According to the latest data, Baupost Group owned 5 million shares in Qorvo, Inc. (NASDAQ:QRVO) at the end of September 2021 worth $850 million, representing 7.80% of the portfolio.
Qorvo, Inc. (NASDAQ:QRVO) posted earnings for the third quarter on November 3, reporting earnings per share of $3.42, smashing expectations by $0.17. The revenue over the period was $1.2 billion, up close to 19% year-on-year.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Select Equity Group is a leading shareholder in Qorvo, Inc. (NASDAQ:QRVO) with 1.2 million shares worth more than $203 million.
3. Viasat, Inc. (NASDAQ:VSAT)
Number of Hedge Fund Holders: 18
Viasat, Inc. (NASDAQ:VSAT) is a communications firm based in California. Securities filings show that Baupost Group owned 16 million shares in Viasat, Inc. (NASDAQ:VSAT) at the end of the third quarter of 2021 worth $897 million, representing 8.24% of the portfolio.
On November 10, Viasat, Inc. (NASDAQ:VSAT) had announced that it had inked a pact with the Ghana Space Science and Technology Institute to open a real-time earth ground station in the country as part of a plan to promote space and tech in the African region.
At the end of the third quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Viasat, Inc. (NASDAQ:VSAT), down from 22 in the previous quarter worth $1.2 billion.
2. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 66
Intel Corporation (NASDAQ:INTC) makes and sells essential technologies for smart devices. Baupost Group owned 19.7 million shares in Intel Corporation (NASDAQ:INTC) at the end of September 2021 worth $1 billion, representing 9.66% of the portfolio.
On November 1, investment advisory Northland upgraded Intel Corporation (NASDAQ:INTC) stock to Market Perform from Underperform with a price target of $49. Gus Richard, an analyst at the advisory, issued the ratings update.
At the end of the third quarter of 2021, 66 hedge funds in the database of Insider Monkey held stakes worth $6.4 billion in Intel Corporation (NASDAQ:INTC), down from 78 in the previous quarter worth $6.7 billion.
1. Liberty Global plc (NASDAQ:LBTYA)
Number of Hedge Fund Holders: 34
Liberty Global plc (NASDAQ:LBTYA) is a communications company headquartered in London. Latest securities filings reveal that Baupost Group owned 53 million shares in Liberty Global plc (NASDAQ:LBTYA) at the end of the third quarter of 2021 worth $1.5 billion.
In September, Liberty Global plc (NASDAQ:LBTYA) had revealed plans to sell the Poland operations of the company to a Polish firm for around $1.8 billion. The deal in this regard will likely be closed in the first half of 2022.
At the end of the third quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $791 million in Liberty Global plc (NASDAQ:LBTYA), up from 30 in the preceding quarter worth $806 million.
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