Top 5 Value Stocks to Invest In According to ValueAct Capital

1. Seagate Technology plc. (NASDAQ: STX)

Value: $1,873,917,000
Percent of Jeffrey Ubben’s 13F Portfolio: 21.73%
No. of Hedge Fund Holders: 30

The information technology company Seagate Technology plc. (NASDAQ: STX) is the largest stock holding of ValueAct’s stock portfolio, accounting for 21.74% of the overall portfolio. The firm has been holding a position in Seagate since 2016. Shares of Seagate Technology grew 53% so far this year. STX tops the list of best value stocks to buy based on ValueAct portfolio.

As of the end of the fourth quarter, there were 30 hedge funds in Insider Monkey’s database that held stakes in STX, compared to 23 funds in the third quarter. ValueAct Capital, with 30.1 million shares of STX, worth $1.8 billion, is the biggest stakeholder in the company.

Alger, an investment management firm, highlighted a few stocks including Seagate Technology in their investor letter. Here is what Alger stated:

“Short exposure to Seagate Technology also detracted from performance. Seagate designs and manufactures data storage products and solutions, including hard disk drives, solid state hybrid drives, solid-state drives, and storage subsystems. We have been short the shares because the company’s hard drive business faces longer-term secular challenges as hard disk drives are increasingly being replaced by solid-state flash drives. Gaming consoles now use flash drives almost exclusively and more than 80% of notebook personal computers also use the technology. The economy’s cyclical pickup off the pandemic low, however, resulted in an uptick in hard disk drive demand in the retail, corporate desktop, and video surveillance markets, which supported the performance of Seagate shares. As the price of Seagate shares increased, the short exposure detracted from the portfolio’s performance.”

You can also take a peek at 10 Best New Stocks to Buy in 2021 According to Billionaire Paul Singer and 10 Best Dividend Stocks to Buy According to Billionaire Andreas Halvorsen.

Follow Insider Monkey on Twitter