Tech Billionaire Chase Coleman’s Top 10 Stock Picks

4. Apollo Global Management Inc. (NYSE:APO)

Shares held by Tiger Global: 12.29 million

Value of position: $1.53 billion

Apollo Global Management Inc. (NYSE:APO) is a prominent American asset management firm specializing in alternative investments. It focuses on credit, private equity, and real assets, serving a diverse client base, including pension funds, sovereign wealth funds, and institutional and individual investors. Tiger Global Management holds 12,285,193 shares of Apollo Global Management, valued at $1.53 billion, representing 6.54% of its portfolio.

The firm’s financial performance is characterized by strong revenue, income, and earnings growth: its trailing 12 months revenue is $31.67 billion, with an impressive 77.12% growth over the past five years. Net income for the trailing 12 months is $5.56 billion, showing a 64.2% increase over the same period. Additionally, the company’s diluted EPS for the TTM is $9.47, and analysts project continued growth, with EPS estimates of $7.13 for 2024 and $8.52 for 2025.

Recently, Apollo Global Management Inc. (NYSE:APO) has outlined an ambitious 5-year growth strategy focused on achieving an average annual Fee-Related Earnings (FRE) growth of 20%, doubling its Adjusted Net Income per share to $15 by 2029, and generating $21 billion in capital. As of this last quarter, progress seems to be in line with its objectives, with record FRE surpassing $1.5 billion year-to-date in 2024 and a 20% year-over-year increase in credit management fees. The company maintains cost discipline, keeping expense growth at 11% year-to-date despite rising revenues.

Overall, the stock is a strong choice due to its solid financial performance and clear strategic vision. Additionally, Apollo Global Management Inc. (NYSE:APO)’s inclusion in Baron FinTech Fund highlights the stock’s appeal to investors focusing on tech-enabled financial services.