In this article, we discuss 5 stocks to consider in the portfolio of Michael McCaul. If you want to read about some more stocks in the portfolio of the lawmaker, go directly to Michael McCaul Stock Portfolio: 10 Stocks To Consider.
5. Skechers U.S.A., Inc. (NYSE:SKX)
Number of Hedge Fund Holders: 31
Skechers U.S.A., Inc. (NYSE:SKX) makes and sells footwear. Hedge funds have not been keen on the stock in recent months. At the end of the fourth quarter of 2021, 31 hedge funds in the database of Insider Monkey held stakes worth $855 million in Skechers U.S.A., Inc. (NYSE:SKX), compared to 35 in the preceding quarter worth $744 million.
Securities filings from Michael McCaul dated March 3 reveal that the lawmaker bought Skechers U.S.A., Inc. (NYSE:SKX) stock worth somewhere between $50,000 and $100,000 on November 23 last year, disclosing the transaction in this regard after 42 days.
4. Arch Capital Group Ltd. (NASDAQ:ACGL)
Number of Hedge Fund Holders: 33
Arch Capital Group Ltd. (NASDAQ:ACGL) provides insurance products and services. The latest filings by McCaul have been disclosures on the purchase of Arch Capital Group Ltd. (NASDAQ:ACGL) stock. The lawmaker bought shares of the firm on November 4, 2021. The transaction was worth $1,000-$15,000.
Elite hedge funds remain bullish on Arch Capital Group Ltd. (NASDAQ:ACGL) stock as well. At the end of the fourth quarter of 2021, 33 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Arch Capital Group Ltd. (NASDAQ:ACGL), compared to 31 in the preceding quarter worth $1.2 billion.
In its Q4 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Arch Capital Group Ltd. (NASDAQ:ACGL) was one of them. Here is what the fund said:
“We repurchased global insurer Arch Capital in Q1 2020 when the pandemic began. As a long-time holding, Arch is a company we know well. It’s an industry leader capably managed by a long-tenured team that has achieved an enviable underwriting record, while at the same time seeking opportunistic growth. Arch’s insurance business is a three-legged stool, with lines covering primary insurance, reinsurance and mortgage insurance. Primary insurance and reinsurance are influenced by conditions in the property casualty industry, where pricing is currently positive following concerns about inadequate pricing over the past few years. The mortgage insurance industry is working its way through complications wrought by the pandemic, but in contrast to other underwriters that pulled back from writing business, Arch has leaned into this business as it saw an opportunity to earn excess returns—once again showing management’s acumen for creating value during a disruption.”
3. Henry Schein, Inc. (NASDAQ:HSIC)
Number of Hedge Fund Holders: 35
Henry Schein, Inc. (NASDAQ:HSIC) provides healthcare products and services. Major hedge funds hold large stakes in the company. Among the hedge funds being tracked by Insider Monkey, London-based investment firm Generation Investment Management is a leading shareholder in Henry Schein, Inc. (NASDAQ:HSIC), with 13.4 million shares worth more than $1 billion.
Henry Schein, Inc. (NASDAQ:HSIC) has also been on the radar of Michael McCaul. The lawmaker, per filings from November last year, bought new shares of Henry Schein, Inc. (NASDAQ:HSIC) on November 5. The transaction was disclosed in March. The shares bought were worth between $1,000 and $15,000.
2. Micron Technology (NASDAQ:MU)
Number of Hedge Fund Holders: 83
Micron Technology (NASDAQ:MU) markets semiconductor products. Mandatory filings from November of last year reveal that Michael McCaul made transactions related to Micron Technology (NASDAQ:MU) stock on November 9. The shares bought were worth between $1,000 and $15,000.
Hedge funds have been piling into Micron Technology (NASDAQ:MU) as well. At the end of the fourth quarter of 2021, 83 hedge funds in the database of Insider Monkey held stakes worth $5.5 billion in Micron Technology (NASDAQ:MU), compared to 63 in the previous quarter worth $3.8 billion.
In its Q1 2021 investor letter, Bonsai Partners, an asset management firm, highlighted a few stocks and Micron Technology (NASDAQ:MU) was one of them. Here is what the fund said:
“Micron Technology (NASDAQ:MU) is a manufacturer of memory semiconductor chips. Micron appreciated 17.3% during the quarter.
With the semiconductor cycle in full swing, sentiment continued to improve for major DRAM and NAND suppliers. Spot pricing for DRAM continues its upward march due to supply shocks across the industry and sustained demand levels that continue to outstrip supply.
As a result, Micron Technology (NASDAQ:MU) showed improving results for the fiscal first quarter, raised guidance intra-quarter for the fiscal second quarter, and offered strong guidance for the fiscal third quarter in both growth and margins.
While the cyclical nature of DRAM hasn’t changed, the cycles themselves continue to become more benign, leading to long-term economic improvement across these businesses. Micron Technology (NASDAQ:MU) is now continuously profitable, with industry players in a dramatically stronger position than even just five years ago.
The biggest negative surprise in the quarter came from Micron’s exit from its 3D XPoint hybrid memory business. The company also announced its decision to sell its accompanying Utah fab. Fortunately, this development does not alter the investment thesis much since 3D XPoint was an option ticket for future growth. While it’s unfortunate this product didn’t pan out, now is an excellent time to sell a fab, so perhaps it is a blessing in disguise?”
1. Visa Inc. (NYSE:V)
Number of Hedge Fund Holders: 142
Visa Inc. (NYSE:V) is a payments technology firm. At the end of the fourth quarter of 2021, 142 hedge funds in the database of Insider Monkey held stakes worth $29 billion in Visa Inc. (NYSE:V), compared to 143 in the preceding quarter worth $26 billion.
Filings from late November 2021 show that McCaul bought Visa Inc. (NYSE:V) stock worth somewhere between $100,000 and $250,000 on November 24. The transactions in this regard were disclosed on March 3, 41 days after it was made.
In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Visa Inc. (NYSE:V) was one of them. Here is what the fund said:
“To make room for these new names with more attractive outlooks related to the reopening, we sold out of companies where the thesis is not playing out at the pace we expected including Visa Inc. (NYSE:V).”
You can also take a peek at 10 Best Medical Stocks Under $10 and 15 Best Warren Buffett Stocks to Buy Now.
