In this article, we discuss the 5 stocks to buy now according to Michael Pausic’s Foxhaven Asset Management. If you want to see our detailed analysis of Pausic’s history, and investment philosophy, go directly to the 10 Stocks to Buy Now According to Michael Pausic’s Foxhaven Asset Management.
5. Atlassian Corporation Plc (NASDAQ:TEAM)
Pausic’s Stake Value: $269.90 million
Percentage of Michael Pausic’s 13F Portfolio: 7.36%
Number of Hedge Fund Holders: 64
Atlassian Corporation Plc (NASDAQ:TEAM) is a software company based in Australia that is involved in the development of products for software developers, project managers and other software development teams. Its most notable product is JIRA, a workflow management system for teams to plan, track, collaborate, and manage projects. Ranked 5th on our list of the 10 stocks to buy according to Michael Pausic’s Foxhaven Asset Management, Atlassian Corporation Plc (NASDAQ:TEAM) has a market capitalization of $101.93 billion.
Michael Pausic’s Foxhaven Asset Management currently holds 1.05 million shares of Atlassian Corporation Plc (NASDAQ:TEAM), amounting to $269.90 million in worth. These shares account for 7.36% of the fund’s portfolio. By the end of the second quarter of 2021, 64 hedge funds tracked by Insider Monkey held stakes in Atlassian Corporation Plc (NYSE: TEAM) worth around $4.17 billion, compared to 67 hedge funds in the previous quarter with a total stake value of approximately $3.95 billion.
In the second quarter of 2021, Atlassian Corporation Plc (NASDAQ:TEAM) issued its quarterly earnings report, with actual earnings per share at $0.37, beating estimates by $0.05. The company also reported a revenue of $501.36 million that surpassed estimated revenues by $27.48 million.
In the Q2 2021 Investor Letter, Baron Opportunity Fund highlighted a few stocks and Atlassian Corporation Plc (NASDAQ:TEAM) is one of them. Here is what the fund said:
“Atlassian Corporation Plc is a software leader that makes tools that are used by thousands of teams worldwide, thus its ticker TEAM. Atlassian’s tools “help teams collaborate, build, and create together” (quote from Atlassian’s website), with an emphasis on designing, developing, and maintaining software, including JIRA for team planning and project management, Confluence for team content creation and sharing, HipChat for team messaging and communications, Bitbucket for team software code sharing and management, and JIRA Service Desk for team services and support use cases. Atlassian is the recognized market leader for information technology team planning and project management software, and has extended its product offering into tangential areas, such as those listed above. The company is in the midst of transitioning its business model to the cloud, which will help it drive faster product innovation, more seamlessly integrate its product families, and raise the effective price realization for its suite of products. Atlassian is run by its two visionary founders, has strong competitive advantages, and we think it should be able to grow revenue over 25% for many years with best-in-class free cash flow margins.”
4. Amazon.com, Inc. (NASDAQ:AMZN)
Pausic’s Stake Value: $293.23 million
Percentage of Michael Pausic’s 13F Portfolio: 8%
Number of Hedge Fund Holders: 271
Amazon.com, Inc. (NASDAQ:AMZN) is a multinational company that specializes in e-commerce, cloud computing, digital streaming and artificial intelligence. Ranked 4th on the list of the 10 stocks to buy now according to Michael Pausic’s Foxhaven Asset Management, Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.75 trillion.
Michael Pausic’s Foxhaven Asset Management currently owns 85,238 shares of Amazon.com, Inc. (NASDAQ:AMZN), amounting to $293.23 million in worth and representing 8% of the fund’s portfolio. There were 271 hedge funds in our database that held stakes in Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter of 2021, compared to 243 funds in the first quarter.
Out of the hedge funds being tracked by Insider Monkey, Martyn Taylor’s Crake Asset Management is a leading shareholder in Amazon.com, Inc. (NASDAQ: AMZN) with 68,500 shares worth more than $235 billion.
Amazon.com, Inc. (NASDAQ:AMZN) last released its earnings report on July 28, 2021, with reported earnings per share at $15.12, beating estimates of $12.22. Earnings for the e-commerce giant are expected to grow by 29.57% in the coming year.
In the Q2 2021 investor letter of L1 Capital, the fund mentioned Amazon.com, Inc. (NASDAQ:AMZN). Here is what the fund said:
“Amazon flipped from being the largest detractor from portfolio performance in the March 2021 quarter, to one of the leading contributors in the June 2021 quarter. We took advantage of negative near-term sentiment in the March 2021 quarter to add to our Amazon investment. We continue to view Amazon as one of the best positioned businesses globally, with its share price still not reflecting fair value.”
3. Twilio Inc. (NYSE:TWLO)
Pausic’s Stake Value: $338.5 million
Percentage of Michael Pausic’s 13F Portfolio: 9.24%
Number of Hedge Fund Holders: 98
Twilio Inc. (NYSE:TWLO), incorporated in 2008, is a California-based cloud communications platform as a service company. Ranked 3rd on our list of the 10 stocks to buy now according to Michael Pausic’s Foxhaven Asset Management, Twilio Inc. (NYSE:TWLO) has a market capitalization of $61.04 billion.
Michael Pausic’s Foxhaven Asset Management currently holds 858,827 shares in Twilio Inc. (NYSE:TWLO) worth over $338.5 million, representing 9.24% of the fund’s portfolio. As of the second quarter of 2021, 98 hedge funds in Insider Monkey’s database of 873 funds held stakes in Twilio Inc. (NYSE:TWLO) compared to 99 funds in the first quarter.
On July 29, Twilio Inc. (NYSE:TWLO) posted its quarterly earnings report for the second quarter of 2021, with earnings per share of -$0.11, beating the estimates by $0.02. In addition, the revenue over the period was $668.93 million, up 66.9% on a year-over-year basis, surpassing the forecast estimates by $69.8 million.
Lakehouse Capital, in its second-quarter 2021 investor letter, mentioned Twilio Inc. (NYSE:TWLO). Here is what the fund said:
“The Fund held 20 positions as of the end of June and exited four during the year (including) Twilio. The companies we exited were sold almost entirely on the basis of their valuations getting stretched well past their norms and to levels where the return profile no longer offered the asymmetric upside that led us to invest in the first place. We dislike selling on valuation as great growth companies are hard to find and letting winners run is an important facet of a winning growth strategy, however, we’re not gluttons for punishment either and in each of those cases we redeployed capital towards other high-quality growth companies with less demanding valuations.”
2. Coupang, Inc. (NYSE:CPNG)
Pausic’s Stake Value: $341.13 million
Percentage of Michael Pausic’s 13F Portfolio: 9.31%
Number of Hedge Fund Holders: 33
Coupang, Inc. (NYSE: CPNG) is a South Korean e-commerce company with headquarters in Seoul, South Korea. The company holds around 24% of South Korea’s e-commerce market share. Ranked 2nd on our list of the 10 stocks to buy now according to Michael Pausic’s Foxhaven Asset Management, Coupang, Inc. (NYSE:CPNG) has a market capitalization of $50.51 billion.
Michael Pausic’s Foxhaven Asset Management currently holds over 8.15 million shares of Coupang, Inc. (NYSE:CPNG), amounting to $341.13 million in worth and accounting for 9.31% of the fund’s portfolio. As of Q2 2021, 33 hedge funds tracked by Insider Monkey have positions in Coupang, Inc. (NYSE:CPNG), worth over $18 billion.
In the second quarter of 2021, the company posted its earnings report, with earnings per share at -$0.13, beating consensus estimates by $0.01. Additionally, the company reported a revenue of $4.48 billion, beating the estimates by $21.63 million.
1. Facebook, Inc. (NASDAQ:FB)
Pausic’s Stake Value: $509.6 million
Percentage of Michael Pausic’s 13F Portfolio: 13.91%
Number of Hedge Fund Holders: 266
Facebook, Inc. (NASDAQ:FB) is a multinational social networking services company based in Menlo Park, California. The company has a market capitalization of $1.00 trillion, and is ranked 1st on the list of the 10 stocks to buy now according to Michael Pausic’s Foxhaven Asset Management.
Michael Pausic’s Foxhaven Asset Management currently holds owns 1.46 million shares in Facebook, Inc. (NASDAQ:FB), amounting to $509.6 million in worth and accounting for 13.91% of the fund’s portfolio. At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Facebook, Inc. (NASDAQ:FB), compared to 257 in the previous quarter’s worth $40 billion.
First Eagle Investment Management, an investment management firm, In its Q2 2021 investor letter mentioned Facebook, Inc. (NASDAQ: FB). Here is what the fund said:
“Leading contributors in the First Eagle Global Fund this quarter included Facebook, Inc. Class A. Facebook has continued to post impressive results for both revenue and active users of its traditional platforms. In the meantime, the social media giant continues to make progress on new initiatives—like Facebook Horizon (virtual reality) and Facebook Shops (e-commerce)—and maintains attractive monetization optionality around services like Messenger and WhatsApp.”
You can also take a look at 10 Best Stocks To Buy According To Billionaire Larry Robbins and 10 New Penny Stocks Redditors are Buying.
