5 Stocks to Buy According to Cyrus De Weck’s Portsea Asset Management

In this article, we will discuss the 5 stocks to buy according to Cyrus De Weck’s Portsea Asset Management. If you want to read our detailed analysis of Weck’s history, investment philosophy, and hedge fund performance, go directly to the 9 Stocks to Buy According to Cyrus De Weck’s Portsea Asset Management.

5. Yandex N.V. (NASDAQ:YNDX)

Portsea Asset Management Stake Value: $17,370,000
Percentage of Portsea Asset Management’s 13F Portfolio: 9.53%
Number of Hedge Fund Holders: 31

Yandex N.V. (NASDAQ:YNDX), the Russian internet behemoth, declared in August that it would buy Uber’s interests in their joint food tech, delivery, and self-driving firms for $1 billion, as well as increase its stake in their ride-hailing joint venture.

Yandex N.V. (NASDAQ:YNDX) is the latest addition in Cyrus De Weck’s hedge fund portfolio, as Portsea Asset Management bought 245,515 shares worth $17.37 million.

In its second-quarter 2021 investor letter, Polen Capital Management mentioned Yandex N.V. (NASDAQ:YNDX). Here is what the fund said:

“From a country perspective, weak performance from Russian companies Yandex drove relative performance lower. Yandex is the leading internet search platform in Russia and was the top detractor from both absolute and relative performance this quarter. This underperformance came about despite solid results in 2020 which showed Yandex’s total e-commerce gross merchandise value grew three-fold in 2020 to over ₽56 billion RUB. Specifically, in the fourth quarter of 2020, Yandex saw year-on-year growth of 127%.

In our view, Yandex is one of the highest quality businesses in our investment universe. It has built a defensible competitive moat around its core search business, reinvesting its cash flows in new growth areas to remain relevant in a fast-changing global internet landscape.

We think Yandex benefits from an innovative and forward-thinking management team, which is shaping the development of Russian internet.

With solid execution, Yandex has the potential to transform into an ecosystem which the company’s Chief Technology Officer describes as the “Silicon Valley of Russia.” Yandex remains a topfive holding in the Portfolio.”