Below are the top 5 stock picks of the late billionaire Michael Price. For a detailed discussion about Michael Price’s investment philosophy and portfolio management strategy, please see Top 10 Stock Picks of the Late Billionaire Michael Price.
5. Anterix Inc. (NASDAQ:ATEX)
MFP Investors’ Stake Value: $32 million
Percentage of MFP Investors’ Portfolio: 3.64%
Number of Hedge Fund Holders: NA
MFP Investors has steadily been increasing its stake in Anterix Inc. (NASDAQ:ATEX) over the past two years. Other investors are also showing confidence in the future prospects of the company’s communication services business model. The company’s shares are up by 23% over the past 12 months, extending their five-year gains to over 140%.
Anterix Inc. (NASDAQ:ATEX) specializes in the commercialization of its spectrum assets in order to assist utility companies and critical infrastructure operators in deploying private technologies, broadband networks, and solutions.
4. CIT Group Inc. (NYSE:CIT)
MFP Investors’ Stake Value: $33.1 million
Percentage of MFP Investors’ Portfolio: 3.66%
Number of Hedge Fund Holders: 32
CIT Group Inc. (NYSE:CIT) operates 64 branches throughout Southern California and is headquartered in New York City. In October 2020, First Citizen BancShares, Inc. (NASDAQ:FCNCA) announced a merger with the bank, which was completed in March 2022. After the merger, CIT Group will initially operate as a division of First Citizens Bank.
Both companies benefited from the $2.2 billion deal. First Citizens was looking to expand into new markets, while CIT needed lower costs of funding. CIT will support First Citizens’ growing presence in California, where it has 64 branches and offers access to specialized commercial lending lines such as equipment leasing and railroad financing.
3. Bunge Limited (NYSE:BG)
MFP Investors’ Stake Value: $40.6 million
Percentage of MFP Investors’ Portfolio: 4.49%
Number of Hedge Fund Holders: 38
The share price of Bunge Limited (NYSE:BG) has rallied more than 30% during the past 12 months, thanks to acceleration in its financial numbers and the growth in commodities prices. Founded in Bermuda and based in St. Louis, Missouri, Bunge Limited is an agribusiness and food company. Apart from exporting soybeans internationally, it is also engaged in food processing, grain trading, and fertilizer production.
MFP Investors has held a stake in the company since 2018. As of December 31, Bunge Limited was in 38 hedge funds’ portfolios, compared to 37 positions in the previous quarter.
2. S&W Seed Company (NASDAQ:SANW)
MFP Investors’ Stake Value: $47.6 million
Percentage of MFP Investors’ Portfolio: 5.27%
Number of Hedge Fund Holders: 7
Michael Price’s MFP Investors has been building a stake in S&W Seed Company (NASDAQ:SANW) since 2015. As of December 31, the firm held more than 17.44 million shares of the company, accounting for 5.27% of the value of its 13F portfolio. S&W Seed Company (NASDAQ:SANW) was in seven hedge funds’ portfolios as of December 31, compared to six positions in the previous quarter.
S&W Seed Company is an agricultural company specializing in multi-crops and the middle market. The company is engaged in the breeding, production, and sale of agricultural seeds. Shares of the company have been under pressure over the years due to its widening losses. However, higher agriculture product prices and aggressive growth strategies should support its financial numbers in the years ahead.
1. Intel Corporation (NASDAQ:INTC)
MFP Investors’ Stake Value: $106 million
Percentage of MFP Investors’ Portfolio: 11.78%
Number of Hedge Fund Holders: 74
Intel Corporation (NASDAQ:INTC) is the longest-running stock holding of MFP Investors and also the firm’s largest stock holding as of December 31, worth $106 million. Shares of Intel have been under pressure over the past couple of quarters. However, the company plans to improve its revenue base by investing around $90 billion in European markets.
In its fourth quarter investor letter, Third Point Management mentioned a few stocks, including Intel Corporation. Here is what Third Point stated:
“2021 was a highly productive year for Intel‘s new CEO, Pat Gelsinger. Despite the stock’s tepid results, we see a compelling, underappreciated fundamental story. Intel’s “brain drain” – a key part of our thesis when we first sought to help the company confront its long-time underperformance – appears to be reversing. Since joining Intel, Mr. Gelsinger has not only brought back prominent Intel former employees but has also attracted talents from competitors such as AMD, Nvidia, Apple, and, most recently, Micron’s stellar Chief Financial Officer, David Zinsner.
We are encouraged by Intel’s aggressive investment plan, including a recently announced fabrication plant in Ohio and acquisition of Tower Semiconductors. We knew from the start that Intel’s turnaround would be complex and lengthy, and we have been pleased to see Mr. Gelsinger sacrifice near-term earnings for long-term growth.
Finally, after a series of blunders across its PC and Server product lines, Intel is finally receiving good reviews for one of its upcoming processors: Alder Lake. Tom’s Hardware, a preeminent hardware publication, called Alder Lake “a cataclysmic shift in Intel’s battle against AMD’s potent Ryzen 5000 chips.” While this is just one product across a broad lineup, and given it will take time to achieve leadership across them all, we are encouraged by these tangible signs of progress under Mr. Gelsinger’s leadership. With talent returning, an improving product suite, and a willingness to invest for growth, we believe Intel’s prospects have turned the corner. We expect that the company’s upcoming analyst day will be an ideal time for Mr. Gelsinger to articulate the progress he has made and begin to reset expectations for the company.”
You can also take a look at 10 Best Semiconductor Stocks to Invest in According to Ken Griffin’s Citadel Investment Group and Consumer Staples Stocks To Buy According To Billionaire Ray Dalio.
