5 Best Stocks To Invest In Right Now According To Tech Billionaire

Below are the 5 best stocks to invest in right now according to tech billionaire Chase Coleman. For a comprehensive list see 10 Best Stocks To Invest In Right Now According To Tech Billionaire.

5. Apollo Global Management, Inc. (APO)

The asset management firm Apollo Global Management, Inc. (NYSE: APO) is the fifth-largest stock holding of Tiger Global Management. The tech billionaire Chase Coleman believes Apollo Global Management is a good stock to invest in. The hedge fund has been holding 33.9 million shares of Apollo valued at $1.5 billion.

Shares of Apollo Global Management soared 200% in the last eighteen months. In addition, the asset management firm also offers hefty dividends to investors.

Miller Value Partners recently pointed to Apollo Global Management in a letter to investors. The firm said, “Apollo Global Management (APO) dropped 9.5% over the period. The company reported Q2 distributable earnings of $0.46, just below consensus of $0.48, and the quarterly dividend of $0.49/share (4.7% annualized yield). Pretax fee-related earnings of $259M ($0.59/share) topped estimates of $242M ($0.55/share) driven by higher advisory and transaction fees while management fees of $401.8M were in-line. Assets under management (AUM) of $413.6Bn rose 31% sequentially with fee-earnings AUM growth of 36% to $329.8Bn driven by insurance transactions and $16Bn of gross inflows. Permanent capital of $246Bn represents 60% of total assets under management.”