In this article, we will take a look at the top 10 stock picks of Ryan Caldwell’s Chiron Investment. If you want to skip our detailed analysis of these stocks, Ryan Caldwell’s career, and Chiron Investment Management’s performance over the years, you can directly go to Top 5 Stocks Picks of Ryan Caldwell’s Chiron Investment.
Ryan Caldwell is the Managing Director at FS Investments and the Chief Investment Officer of Chiron Investment Management. Mr. Caldwell co-founded his hedge fund Chiron Investment Management in 2015, and then in 2020 when FS Investments acquired the company, he joined FS Investments as Managing Director. Before his career at FS Investments, Mr. Caldwell earned recognition for his time at Waddell & Reed where he co-managed funds, including the Ivy Asset Strategy. The Ivy Asset Strategy went up from $250 million to $40 billion in assets under management during Mr. Caldwell’s tenure. He has also served as a Director to Delta Topco Group and a board advisor to Legendary Entertainment. Mr. Caldwell holds a bachelor’s degree in Business Administration, BBA, from Texas State University.
Chiron Investment Management was founded by Ryan Caldwell and Enrico Gaglioti in 2015. The company had two headquarters, in New York and Kansas City.
Among the top holdings of Chiron Investment Management as of the third quarter include Netflix, Inc. (NASDAQ:NFLX), CVS Health Corporation (NYSE:CVS), and Constellation Brands, Inc. (NYSE:STZ). Mr. Caldwell has increased his stakes in these stocks. Mr. Caldwell manages over $631.93 million in 13F securities through Chiron Investment Management as of this September.
Our Methodology
With this context in mind, here are the top 10 stock picks of Ryan Caldwell’s Chiron Investment. These were ranked according to the investment portfolio of Chiron Investment Management at the end of the third quarter of 2021. We also included the hedge fund sentiment and analyst rating for each stock to aid our readers in making informed investment decisions.
Top 10 Stock Picks of Ryan Caldwell’s Chiron Investment
10. Nexstar Media Group, Inc. (NASDAQ:NXST)
Stake Value of Chiron Investment Management: $18,170,000
Percentage of Chiron Investment Management’s 13F Portfolio: 2.87%
Number of Hedge Fund Holders: 38
Nexstar Media Group, Inc. (NASDAQ:NXST) operates as a television broadcasting and digital media company that focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company was founded in 1996 and is headquartered in Irving, Texas.
On November 3rd, Loop Capital analyst Alan Gould raised his price target on Nexstar Media Group, Inc. (NASDAQ:NXST) to $200 from $175 and maintained a Buy rating on the company’s shares in light of its third-quarter earnings for 2021.
By the end of the third quarter of 2021, 38 hedge funds held stakes in Nexstar Media Group, Inc. (NASDAQ:NXST), worth approximately $874 million. This is compared to 34 positions in the second quarter, with total stakes amounting to $927.86 million.
Here is what Richie Capital Group has to say about Nexstar Media Group, Inc. (NASDAQ:NXST) in their first-quarter 2021 investor letter:
“Nexstar Media Group (NXST – up 28.9%) – The television broadcasting and digital media company reported strong Q4 earnings with revenue growing 25% over the year prior. The company set records across every key financial metric and exceeded management outlook. For the full year, the company boosted free cash flow by 191% partly as a result of the full integration of their Tribune Media acquisition. The company still trades at an attractive valuation and offers a 17% FCF yield. The Supreme Court’s recent ruling allowing the FCC to loosen local media ownership restrictions will support more consolidation within the industry. This is a positive for NXST who is well positioned to acquire strategic assets. You can find our original investment thesis here.”
9. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Stake Value of Chiron Investment Management: $19,459,000
Percentage of Chiron Investment Management’s 13F Portfolio: 3.07%
Number of Hedge Fund Holders: 65
Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor company that operates through two segments, Computing & Graphics, and Enterprise, Embedded, and Semi-Custom. The company was founded in 1969 in Santa Clara, California, and serves worldwide.
Advanced Micro Devices, Inc. (NASDAQ:AMD) posted its third-quarter earnings this September and registered an EPS of $0.73, beating estimates by $0.07. The company’s revenue for the quarter was reported to be $4.31 billion, up 53.98% year over year.
Out of the 867 hedge funds in Insider Monkey’s database, 65 held stakes in Advanced Micro Devices, Inc. (NASDAQ:AMD) by the end of the third quarter of 2021. The value of these stakes was more than $5.25 billion. This is compared to 63 positions in the prior quarter, with stakes of $4.61 billion.
This November, Wedbush analyst Matt Bryson raised his price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $165 from $140 and kept an Outperform rating on the shares.
Advanced Micro Devices, Inc. (NASDAQ:AMD) is a new addition to Chiron Investment Management’s 13F portfolio as of the third quarter of 2021. Other stocks that are among the top picks of the fund are Netflix, Inc. (NASDAQ:NFLX), CVS Health Corporation (NYSE:CVS), and Constellation Brands, Inc. (NYSE:STZ).
8. AGCO Corporation (NYSE:AGCO)
Stake Value of Chiron Investment Management: $21,369,000
Percentage of Chiron Investment Management’s 13F Portfolio: 3.38%
Number of Hedge Fund Holders: 24
AGCO Corporation (NYSE:AGCO) manufactures and distributes agricultural equipment and related replacement parts worldwide. This September, AGCO Corporation (NYSE:AGCO) announced that it has acquired Farm Robotics and Automation S.L., which is a precision livestock farming company. The company was founded in 1990 and is headquartered in Duluth, Georgia.
By the end of the third quarter of 2021, 24 hedge funds, out of the 867 being tracked by us at Insider Monkey, held stakes worth $332.49 million in the company.
AGCO Corporation (NYSE:AGCO) reported earnings per share of $2.41, beating EPS estimates by $0.56, for the third quarter of 2021. The company’s revenue grew by 9.11% year over year and came in at $2.73 billion, up from $2.50 billion.
7. Raytheon Technologies Corp (NYSE:RTX)
Stake Value of Chiron Investment Management: $21,591,000
Percentage of Chiron Investment Management’s 13F Portfolio: 3.41%
Number of Hedge Fund Holders: 48
Raytheon Technologies Corp (NYSE:RTX) is an aerospace and defense company that provides systems and services for commercial, military, and government clients all over the world. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. On November 19th, Raytheon Missiles & Defense was selected by the Missile Defense Agency for the development and testing of the first interceptor which is designed to beat hypersonic threats. The company is headquartered in Waltham, Massachusetts.
By the end of the third quarter, 48 hedge funds had Raytheon Technologies Corp (NYSE:RTX) among their 13F holdings. The total stake of these funds in the company was more than $2.25 billion. Comparing this to the second quarter of 2021, the company was a part of 53 hedge fund portfolios, with their stakes totaling $2.11 billion.
ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” second quarter 2021 investor letter, in which it shared it mentioned Raytheon Technologies Corp (NYSE:RTX). Here’s what they had to say:
“Broader market leadership was a relative benefit for the ClearBridge Large Cap Value Strategy, which outperformed the Russell 1000 Value Index in the second quarter… Separately, Raytheon Technologies benefited from an improving health outlook that is contributing to a faster than anticipated recovery in air travel, which should drive stronger results for Raytheon’s commercial aerospace business.”
6. Thermo Fisher Scientific Inc. (NYSE:TMO)
Stake Value of Chiron Investment Management: $24,797,000
Percentage of Chiron Investment Management’s 13F Portfolio: 3.92%
Number of Hedge Fund Holders: 94
Thermo Fisher Scientific Inc. (NYSE:TMO) offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and services worldwide. This November, the company announced that it will build a plant in North Carolina. The manufacturing facility is being built on a $192.5 million contract with the U.S. government and the U.S. Department of Health and Human Services for the production of laboratory pipette tips. The site is expected to create 150 to 200 jobs in manufacturing, engineering, and business operations.
On October 28, 2021, Baird analyst Catherine Ramsey Schulte raised the price target on Thermo Fisher Scientific Inc. (NYSE:TMO) to $657 from $635 and reiterated an Outperform rating on the shares.
The hedge fund sentiment for Thermo Fisher Scientific Inc. (NYSE:TMO) can be observed to be positive. Insider Monkey was able to identify 94 hedge funds that held stakes in Thermo Fisher Scientific Inc. (NYSE:TMO) by the end of the third quarter of 2021. The total value of these stakes came in at $8.2 billion. This is compared to 87 positions in the prior quarter, with stakes amounting to $7.39 billion.
Just like Advanced Micro Devices, Inc. (NASDAQ:AMD), Thermo Fisher Scientific Inc. (NYSE:TMO) is also a new stock that gained the attention of Chiron Investment Management in the third quarter of 2021. However, the hedge fund’s investment portfolio is dominated by Netflix, Inc. (NASDAQ:NFLX), CVS Health Corporation (NYSE:CVS), and Constellation Brands, Inc. (NYSE:STZ).
Here is what L1 Capital has to say about Thermo Fisher Scientific Inc. (NYSE:TMO) in its third-quarter 2021 investor letter:
“Included in these adjustments, in early July 2021, we divested our remaining small investment in Thermo Fisher Scientific (Thermo Fisher), the world leader in the provision of equipment, consumables, and services to the Life Sciences industry. Thermo Fisher has benefited from elevated demand for its products and services associated with COVID-19 and we sold our residual investment at a gain of more than 70% compared to our average investment cost. Thermo Fisher subsequently held an Investor Day and positively surprised many people, including us, with very strong medium-term growth targets, notwithstanding a headwind from normalisation of COVID-19-related business. Thermo Fisher is a high-quality business and remains on our ‘Bench’ for potential reinvestment.”
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Disclosure. None. Top 10 Stock Picks of Ryan Caldwell’s Chiron Investment is originally published on Insider Monkey.
