5 Stocks to Buy According to Kevin McCarthy’s Breakline Capital

4. Dell Technologies Inc. (NYSE:DELL)

Breakline Capital’s Stake Value: $6,451,000
Percentage of Breakline Capital’s 13F Portfolio: 7.41%
Number of Hedge Fund Holders: 49

Dell Technologies Inc. (NYSE:DELL) provides information technology services. With a stake valued at more than $172.25 million, Millennium Management is a prominent stakeholder of Dell Technologies Inc. (NYSE:DELL).

On August 26, Evercore ISI analyst Amit Daryanani maintained an ‘Outperform’ rating on Dell Technologies Inc. (NYSE:DELL) while lowering his price objective from $63 to $58. Despite the firm outperforming expectations for the June quarter, Dell executives claimed they saw signs of weakening as they moved into the year’s second half, according to a message to investors from Daryanani.

Dell Technologies Inc. (NYSE:DELL) declared on August 27 that it had stopped all activities in Russia after closing its offices in the middle of August. The company has decided to move out of the country, joining the growing number of businesses doing so.

In the second quarter, Breakline Capital reduced its stake in Dell Technologies Inc. (NYSE:DELL) by 21%, and its position is now worth about $6.45 million. Dell Technologies Inc. (NYSE:DELL) has featured on the hedge fund’s portfolio since the second quarter of 2019.

Fund managers reduced their Dell Technologies Inc. (NYSE:DELL) holdings in the second quarter of 2022. 49 hedge funds reported ownership of Dell Technologies Inc. (NYSE:DELL) positions as of the end of the second quarter of 2022, compared to 59 hedge funds as of the end of the first quarter of 2022.