In this article, we will be taking a look at the top 10 stock picks of Jeffrey Diehl’s Adams Street Partners. To skip our detailed analysis, you can go directly to see Top 5 Stock Picks of Jeffrey Diehl’s Adams Street Partners.
Jeffrey Diehl is the current head of investments and managing partner at Adam Street Partners. Having joined the firm back in 2000 as a partner, not only does he oversee the overall process and strategies that the investment team develops, he is also responsible for the management of the firm. He is part of the Growth Equity Investment Team where the focus is on companies which are growth-oriented and operating in the consumer internet sector, IT enabled business services, and the software sector, though the fund is pivoting towards the biopharma sector as well.
Currently, Adams Street Partners has more than $50 billion in assets under management. One of the funds is operated by Jeffrey Diehl, with the total portfolio value of the fund worth more than $540 million. Of the top 10 stock picks of Jeffrey Diehl’s Adams Street Partners, only one stock was added in the most recent quarter, showing that the firm is currently keeping faith with its previous stock picks.
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If you take a look at the portfolio, there aren’t many incredibly famous companies such as Meta Platforms, Inc. (NASDAQ:META), Amazon.com, Inc. (NASDAQ:AMZN), and Microsoft Corporation (NASDAQ:MSFT). One of the popular stocks in the hedge fund’s portfolio is Robinhood Markets, Inc. (NASDAQ:HOOD), a financial services company, whose primary purpose is to allow non-finance savvy people to be able to invest in stocks and trade easily. However, Robinhood Markets, Inc. (NASDAQ:HOOD) hit the news during the GameStop Corp. (NYSE:GME) short squeeze, where tens of thousands of people on Reddit came together to drive up the price of GameStop Corp. (NYSE:GME), only to have Robinhood Markets, Inc. (NASDAQ:HOOD) stop people from buying the shares for some time.
Our Methodology
We used Adams Street Partners’ Q1 portfolio and picked the top 10 stocks for this analysis.
Top Stock Picks of Jeffrey Diehl’s Adams Street Partners
10. Roblox Corporation (NYSE:RBLX)
Adams Street Partners’ Stake Value: $3.736 million
Number of Hedge Fund Holders: 40
Roblox Corporation (NYSE:RBLX) is the only company in our list of top 10 stock picks of Jeffrey Diehl’s Adams Street Partners which has been added to the firm’s portfolio in the latest quarter. Roblox Corporation (NYSE:RBLX) is a game creation and online gaming platform. The company has only begun its rapid growth in the past five years, and has developed at an even faster pace during the pandemic. The company currently has more than 164 million monthly active users.
The stock price of Roblox Corporation (NYSE:RBLX) has nosedived in 2022, losing more than 65% of its value YTD, which may be one of the reasons why more than seventeen brokerages have issued an average “Hold” rating while one analyst has even issued a “Sell” rating.
Roblox Corporation (NYSE:RBLX) was mentioned by Tao Value in its Q4 2021 investor letter. Here is what it said:
“Roblox (RBLX) got significant more attention from both institutional & retail investors after Facebook announced to rename itself as Meta Platforms. I believe the price appreciation is largely attributed to the increased attention. On business side, Roblox rolled out a few successful music events and also partnered with Netflix on testing long-form media consumption in virtual world. Apple in its iOS 14.5 rolled out an impactful change for digital advertising landscape by requiring all apps to ask users to “opt in”.
9. Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)
Adams Street Partners’ Stake Value: $5.373 million
Number of Hedge Fund Holders: 13
Representing nearly 1% of the total portfolio of Adams Street Partners, Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) is a bio-pharmaceutical company driven by science. According to Insider Monkey’s Q1 database, 13 hedge funds were bullish on the stock, compared to 14 funds in the prior quarter.
8. Aptinyx Inc. (NASDAQ:APTX)
Adams Street Partners’ Stake Value: $12.249 million
Number of Hedge Fund Holders: 10
Rather than focus on the big guns such as Meta Platforms, Inc. (NASDAQ:META), Amazon.com, Inc. (NASDAQ:AMZN), and Microsoft Corporation (NASDAQ:MSFT), Adams Street Partners is more focused on the biopharma sector. The hedge fund owns a prominent position in Aptinyx Inc. (NASDAQ:APTX), a clinical-stage biopharmaceutical company.
Aptinyx Inc. (NASDAQ:APTX) has seen a recent surge, with its stock price increasing by 28% in just the past five days, though it’s still down nearly 80% YTD in 2022.
7. Fusion Pharmaceuticals Inc. (NASDAQ:FUSN)
Adams Street Partners’ Stake Value: $22.905 million
Number of Hedge Fund Holders: 8
Another biopharma company, Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), is among the top 10 stock picks of Jeffrey Diehl’s Adams Street Partners, making up 4.23% of the total portfolio. Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) is focused on the evolution of radiopharmaceuticals and improving its safety by using targeted alpha therapeutics.
Recently, Fusion Pharmaceuticals Inc. (NASDAQ:FUSN)’s share price hit a 52-week low, even as it got the approval of the Food and Drug Regulation Authority to commence trials for battling tumors, though the trials were delayed, which affected its share price in the past few months.
6. Icosavax, Inc. (NASDAQ:ICVX)
Adams Street Partners’ Stake Value: $23.889 million
Number of Hedge Fund Holders: 12
Even though Adams Street Partners has reduced its hold in Icosavax, Inc. (NASDAQ:ICVX) by 1% in the latest quarter, it is still one of the top 10 stock picks of Jeffrey Diehl’s Adams Street Partners.
Icosavax, Inc. (NASDAQ:ICVX) is a pharmaceutical company which aims to advance vaccines and aid them in the fight against life threatening diseases. In recent months, Icosavax, Inc. (NASDAQ:ICVX) reported that its vaccine intended to protect against COVID-19 was not successful, though it is now reporting that its RSV vaccine looks promising, and could even be among the first companies intending to launch a vaccine of its kind.
Click to continue reading and see Top 5 Stock Picks of Jeffrey Diehl’s Adams Street Partners.
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Disclosure. None. Top 10 Stock Picks of Jeffrey Diehl’s Adams Street Partners is originally published on Insider Monkey.
