In this article, we discuss the 8 stocks to consider in the latest portfolio of John Hickenlooper. If you want to skip our detailed analysis of these stocks, go directly to John Hickenlooper Latest Portfolio: 3 Stocks to Watch.
The equity trading activities of United States lawmakers are once again in the spotlight. Disclosures made by prominent members of the US Congress and the House of Representatives in the past few weeks have caught the eye of users on social media who allege that lawmakers “unfairly” benefit from stock trades since they are also privy to exclusive policy and other related decisions that might affect the share price of the companies in which they hold stakes. A bill to ban stock trading among Congress members is set to be introduced as well.
The trading activity of some lawmakers is more controversial than others. For example, Senator John Hickenlooper of Colorado, a member of the Democratic Party, disclosed in a Periodic Transaction Report dated December 10 that he had sold off his stakes in high growth stocks like Microsoft Corporation (NASDAQ:MSFT), Meta Platforms, Inc. (NASDAQ:FB), and Amazon.com, Inc. (NASDAQ:AMZN), among others discussed in detail below, over the past few months. Social media users allege that he did so to benefit from an imminent rise in interest rates.
There is nothing illegal about reading the market situation — in this instance, it would make sense to dispense off riskier growth options in favor of value stocks since inflation is on the rise. But the hullabaloo around the Hickenlooper trades stems from the fact that he sold off his stakes in these firms ahead of an important Federal Reserve meeting on interest rates on December 14. Before the meeting, six out of seven holdings in which he sold stakes were trading upwards. Since the Fed meeting, four stocks out of these seven are trending downwards.
Renee Bouchard, United States Senate Photographic Studio
Our Methodology
The stocks listed below were picked from the Periodic Transaction Report(s) that John Hickenlooper is obliged to file. It is important to clarify that the stocks listed below were picked from the public record of investments Hickenlooper and his family have made in the past few months. The purchases may not have been made by Hickenlooper himself but only disclosed on behalf of his family.
Hedge fund sentiment was included as a classifier as well. The hedge fund sentiment around each stock was calculated using the data of 867 hedge funds tracked by Insider Monkey.
John Hickenlooper Latest Portfolio: Stocks to Watch
8. The Trade Desk, Inc. (NASDAQ:TTD)
Number of Hedge Fund Holders: 19
The Trade Desk, Inc. (NASDAQ:TTD) operates as a technology firm with prime interests in digital marketing management. A Periodic Transaction Report dated December 10 shows that Robin Pringle, the wife of Senator Hickenlooper, sold a part of her stake in The Trade Desk, Inc. (NASDAQ:TTD) in early November. The stake sold was worth between $15,000 and $50,000. Pringle is a former media executive who married Hickenlooper in 2016.
The Trade Desk, Inc. (NASDAQ:TTD) has been attracting hedge fund interest in the past few months as well. At the end of the third quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $499 million in The Trade Desk, Inc. (NASDAQ:TTD).
Just like Microsoft Corporation (NASDAQ:MSFT), Meta Platforms, Inc. (NASDAQ:FB), and Amazon.com, Inc. (NASDAQ:AMZN), The Trade Desk, Inc. (NASDAQ:TTD) is one of the stocks that hedge funds are buying.
In its Q2 2021 investor letter, Richie Capital Group, an asset management firm, highlighted a few stocks and The Trade Desk, Inc. (NASDAQ:TTD) was one of them. Here is what the fund said:
“The Trade Desk (TTD – up 26.3%) – Shares in the programmatic advertising specialist rebounded during the quarter after selling off in Q1. The selloff was part of the previously mentioned market move away from higher priced technology names. The rebound in Q2 was due to Google delaying its phase out of third-party cookies in its Chrome browser to mid to late 2023. This is positive news, but TTD is prepared for the inevitable transition away from cookies. The company has built an industry alternative called UID 2.0 which asks users’ permission to receive targeted ads on websites.
UID 2.0 has gained more traction in the digital ad industry vs competing alternatives with many major publishers and advertisers on board. Additionally, TTD’s business is diversified across numerous channels including video, audio, in-app, native and social. Connected TV is currently their fastest growing business, and cookies are meaningless on that platform as ads are based on first-party data.”
7. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 83
NVIDIA Corporation (NASDAQ:NVDA) is one of the premier semiconductor firms in the United States. Since chip prices are at record highs, hedge funds have been piling into the stock. At the end of the third quarter of 2021, 83 hedge funds in the database of Insider Monkey held stakes worth $10 billion in NVIDIA Corporation (NASDAQ:NVDA), compared to 86 in the preceding quarter worth $9 billion.
According to the latest data, Hickenlooper sold off his stake in NVIDIA Corporation (NASDAQ:NVDA) in early November. The total value of the stock sold was between $500,000 and $1 million. The transaction in this regard, which took place on November 1, was disclosed on December 10.
In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here is what the fund said:
“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. NVIDIA’s GPUs are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. We previously owned NVIDIA and sold it in the third quarter of 2020 as the price to value gap closed and our margin of safety was reduced. As with all our MVP companies, we continued to follow NVIDIA closely. Since that time, NVIDIA reported excellent results and its value has compounded rapidly. The technology selloff at the beginning of the year negatively affected the stock price while our estimate of NVIDIA’s value per share increased. This happy combination of events created a margin of safety and an opportunity to once again add NVIDIA to the portfolio.”
6. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 120
Apple Inc. (NASDAQ:AAPL) is widely recognized as the biggest business in the world. Disclosures made by Senator Hickenlooper in December show that the lawmaker sold off his stake in Apple Inc. (NASDAQ:AAPL) at the end of October. The stake sold was worth between $250,000 and $500,000. Although the stake was sold on October 29, the disclosure was made in the Periodic Transaction Report dated December 10.
Apple Inc. (NASDAQ:AAPL) has featured on the list of the most popular stocks among hedge funds for the past many years. At the end of the third quarter of 2021, 120 hedge funds in the database of Insider Monkey held stakes worth $146 billion in Apple Inc. (NASDAQ:AAPL), compared to 138 in the preceding quarter worth $146 billion.
In its Q1 2021 investor letter, Distillate Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:
“Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”
5. PayPal Holdings, Inc. (NASDAQ:PYPL)
Number of Hedge Fund Holders: 123
PayPal Holdings, Inc. (NASDAQ:PYPL) is a payments technology company. The stock has been under pressure amid a broader lull around growth stocks in the past few months as inflation rises and investors prepare for a rise in interest rates. At the end of the third quarter of 2021, 123 hedge funds in the database of Insider Monkey held stakes worth $12.8 billion in PayPal Holdings, Inc. (NASDAQ:PYPL), compared to 143 in the preceding quarter worth $16.4 billion.
Hickenlooper also recently sold off his stake in PayPal Holdings, Inc. (NASDAQ:PYPL). Latest filings show that the lawmaker sold off his stake, worth between $250,000 and $500,000, in PayPal Holdings, Inc. (NASDAQ:PYPL) on November 1 last year. The transaction was disclosed in a report dated December 10.
In its Q4 2020 investor letter, Polen Capital Management, an asset management firm, highlighted a few stocks and PayPal Holdings, Inc. (NASDAQ:PYPL) was one of them. Here is what the fund said:
“For the full year 2020, one of the top performers was PayPal, which we purchased in 2019, the company continues to take market share in digital payments and has seen an acceleration in user adoption and engagement, especially within their “silver tech” or older user demographic. We expect many more years of ongoing double-digit growth from their various business segments and new initiatives.”
4. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 195
Alphabet Inc. (NASDAQ:GOOGL) is a diversified technology firm with prime interests in internet-related services like search engine, video sharing, and browsing. Alphabet Inc. (NASDAQ:GOOGL) makes money by selling advertisements on the platforms it owns, like Google, YouTube, and Chrome, among others. Hickenlooper sold off his stake in Alphabet Inc. (NASDAQ:GOOGL) in early November. The stake was worth between $250,000 and $500,000.
Alphabet Inc. (NASDAQ:GOOGL) is one of the biggest tech firms in the world and hedge funds have displayed tremendous confidence in it to deliver strong growth and value. At the end of the third quarter of 2021, 195 hedge funds in the database of Insider Monkey held stakes worth $28 billion in Alphabet Inc. (NASDAQ:GOOGL), up from 190 in the preceding quarter worth $26 billion.
In addition to Microsoft Corporation (NASDAQ:MSFT), Meta Platforms, Inc. (NASDAQ:FB), and Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks on the radar of elite investors.
Click to continue reading and see John Hickenlooper Latest Portfolio: 3 Stocks to Watch.
Suggested Articles:
- 10 Best Dividend Growth Stocks to Buy Now
- Stanley Druckenmiller is Selling These 12 Stocks
- 25 Coldest Countries in the World
Disclosure. None. John Hickenlooper Latest Portfolio: Stocks to Watch is originally published on Insider Monkey.
