Below is the list of the top 3 stocks to buy according to Alexis Fortune’s Blacksheep Fund Management. For a comprehensive list and detailed discussion about Alexis Fortune’s investment strategy, please see Top 7 Stocks to Buy According to Alexis Fortune’s Blacksheep Fund Management.
3. KKR & Co. Inc. (NYSE:KKR)
Blacksheep Fund Management’s Stake Value: $123 million
Percentage of Blacksheep Fund Management’s 13F Portfolio: 16.36%
Number of Hedge Fund Holders: 54
KKR & Co. Inc. (NYSE:KKR) has also significantly boosted Blacksheep’s overall returns since the hedge fund first initiated its position in 2019. The share price of KKR & Co. Inc. (NYSE:KKR) is up 139% in the last twelve months alone. The company also offers dividends to investors, which makes it a good stock to hold for the long term. KKR & Co. Inc. (NYSE:KKR) is of the top stocks to buy according to Alexis Fortune’s Blacksheep Fund Management.
The number of long hedge fund bets stood at 54 as of June compared to 57 positions in the previous quarter. Blacksheep Fund Management lifted its existing position in KKR & Co. Inc. (NYSE:KKR) by 4% during the June quarter. David Harding’s Winton Capital Management is the leading stakeholder in the company.
2. Alphabet Inc. (NASDAQ:GOOGL)
Blacksheep Fund Management’s Stake Value: $138.4 million
Percentage of Blacksheep Fund Management’s 13F Portfolio: 18.35%
Number of Hedge Fund Holders: 190
Google parent Alphabet Inc. (NASDAQ:GOOGL) is one of the top stocks to buy for the long term. Blacksheep increased its existing stake in Alphabet Inc. (NASDAQ:GOOGL) by 51% recently, making it the second-largest stock holding in its 13F portfolio. The share price of Alphabet Inc. (NASDAQ:GOOGL) surged 78% since the beginning of this year.
Alger, an investment management firm, mentioned a few stocks including Alphabet Inc. (NASDAQ:GOOGL) in the third quarter investor letter. Here is what Alger stated:
“Alphabet Inc. was among the top contributors to performance during the third quarter. Alphabet is a leading internet search provider and is a beneficiary in the share shift of advertising dollars from traditional mediums like television, radio and newspapers to digital platforms. The company is a leader in implementing Al, autonomous vehicles and cloud computing it and owns the highly trafficked YouTube property. Alphabet contributed to performance due to a strong quarterly report highlighted by revenue growth that beat consensus expectations across segments. The company’s core search revenues have increased 10% over the past two years, with cloud computing increasing 8%. Results from YouTube also exceeded expectations. When discussing quarterly results, Alphabet management said retail, entertainment and travel were end markets that were particularly strong. The fixed cost structure of Alphabet’s search service resulted in profitability resulting from the increase in revenues being better than expected.”
1. GoDaddy Inc. (NASDAQ:GDDY)
Blacksheep Fund Management’s Stake Value: $179 million
Percentage of Blacksheep Fund Management’s 13F Portfolio: 22.64%
Number of Hedge Fund Holders: 39
GoDaddy Inc. (NASDAQ:GDDY), an internet infrastructure structure provider, continues to gain Alexis Fortune’s confidence over the past couple of quarters. His firm increased its stake in GoDaddy Inc. (NASDAQ:GDDY) by 25% to 22.64% of the overall portfolio as of June. GoDaddy Inc. (NASDAQ:GDDY) is among the top stocks to buy after the recent selloff amid its attractive valuation along with a double-digit revenue and cash flow generation potential.
Godaddy Inc. (NYSE:GDDY) was in 39 hedge funds’ portfolios as of June. Winton Capital Management and Columbus Point were the leading stakeholders in the company.
You can also take a look at Best High Risk Stocks to Buy Right Now and Berkshire Hathaway Stock Portfolio: 10 Long-Term Stock Picks.
