This article discusses Mark Asset Management’s top 5 stock picks at the end of March 2022. You can learn about Mark Asset Management’s top 10 stock picks and the fund’s recent performance by reading Morris Mark’s Mark Asset Management Latest Portfolio: Top 10 Stock Picks.
5. QUALCOMM Incorporated (NASDAQ:QCOM)
Mark Asset Management’s Stake Value: $24,754,000
Percentage of Mark Asset Management’s 13F Portfolio: 3.63%
Number of Hedge Fund Holders: 73
QUALCOMM Incorporated (NASDAQ:QCOM) was the only company among Mark Asset Management’s top five holdings in which the fund increased its stake. At the end of the first quarter of 2022 Mark Asset Management held 161,980 shares of QUALCOMM Incorporated (NASDAQ:QCOM), up 8% from the 151,271 shares it had at the end of 2021.
QUALCOMM Incorporated’s (NASDAQ:QCOM) stock declined recently after the company reported its second-quarter numbers. The earnings per share of $2.96 that QUALCOMM Incorporated (NASDAQ:QCOM) reported on revenue of $10.93 billion for that period beat analysts’ expectations by $0.09 and $74.53 million, respectively. However, the guidance it gave for the fourth quarter was lower than what the Street was expecting, which caused its stock to trade lower.
4. Apple Inc. (NASDAQ:AAPL)
Mark Asset Management’s Stake Value: $27,499,000
Percentage of Mark Asset Management’s 13F Portfolio: 4.04%
Number of Hedge Fund Holders: 131
Apple Inc. (NASDAQ:AAPL) is among the few companies considered large cap and operating in the tech sector that haven’t seen their stock fall in the last year. Shares of Apple Inc. (NASDAQ:AAPL) are up over 11% in the last one year.
On August 1, Bloomberg reported that Apple Inc. (NASDAQ:AAPL) had started its four-part bond sale that the company had announced earlier. According to the sources that Bloomberg spoke with, the longest portion of this four-part sale will be a bond with a 40-year maturity that the company will issue at a credit spread of just 1.5% over the US treasury bonds. Apple Inc. (NASDAQ:AAPL) plans to use the proceeds from this four-part bond sale for general corporate purposes, which include buybacks and dividends.
3. Amazon.com, Inc. (NASDAQ:AMZN)
Mark Asset Management’s Stake Value: $43,331,000
Percentage of Mark Asset Management’s 13F Portfolio: 6.36%
Number of Hedge Fund Holders: 271
At the end of the first quarter, Amazon.com, Inc. (NASDAQ:AMZN) remained the most popular stock among the 912 hedge funds we track. 271 hedge funds in our database reported a stake in the online retail giant for that period, down from 279 at the end of 2021. Though Amazon.com, Inc.’s (NASDAQ:AMZN) stock has fallen by nearly 25% since last year, it is still up by almost 175% over the previous five years.
Though the growth of Amazon.com, Inc.’s (NASDAQ:AMZN) online retail business has come down in the last few years, the company continues to make significant investments in that business. Last week, Amazon.com, Inc. (NASDAQ:AMZN) announced that it had won approval from a planning board for a $550 million warehouse in the town of Niagara in New York state.
2. NVIDIA Corporation (NASDAQ:NVDA)
Mark Asset Management’s Stake Value: $51,373,000
Percentage of Mark Asset Management’s 13F Portfolio: 7.54%
Number of Hedge Fund Holders: 102
Apart from QUALCOMM Incorporated (NASDAQ:QCOM), NVIDIA Corporation (NASDAQ:NVDA) was the only other semiconductor stock among Mark Asset Management’s top 10 stock picks at the end of the first quarter.
NVIDIA Corporation (NASDAQ:NVDA) has been one of the best-performing stocks in the last ten years. Despite the stock catering by more than 37% year-to-date, it is still up more than 53 times from where it traded ten years ago.
A large part of the fall that NVIDIA Corporation’s (NASDAQ:NVDA) stock has seen this year can be attributed to the CHIPS Act, which the House of Representatives passed on July 28 and now has gone to President Biden’s office to be signed into law. The CHIPS Act seeks to boost semiconductor manufacturing in the US as it faces heavy competition from China in the semiconductor industry.
1. Tesla, Inc. (NASDAQ:TSLA)
Mark Asset Management’s Stake Value: $64,531,000
Percentage of Mark Asset Management’s 13F Portfolio: 9.48%
Number of Hedge Fund Holders: 80
Arguably the most popular stock in the world for the past two years, Tesla, Inc. (NASDAQ:TSLA) was also Mark Asset Management’s top stock pick at the end of the first quarter of 2022. Last month the company reported its second-quarter earnings, which blew analysts’ estimates out of the water.
For its second quarter, Tesla, Inc. (NASDAQ:TSLA) revealed earnings per share of $1.95 on revenue of $16.93 billion, while the consensus among analysts was for the company to report earnings per share of $1.50 on nearly the same revenue. Tesla, Inc. (NASDAQ:TSLA) will conduct a shareholder meeting later this week, where shareholders will vote on whether the company’s stock should go for another stock split.
On July 21, following Tesla, Inc.’s (NASDAQ:TSLA) second-quarter earnings release, analysts at Cowen boosted their price target on the stock to $733 from $700 while maintaining their ‘Market Perform’ rating.
You can also look at the 7 Best Stocks to Buy According to Stephen Feinberg’s Cerberus Capital Management and 10 Stocks You Should Sell in 2022 According to Billionaire Dan Loeb.
