Miller Value Partners recently released its Q2 2020 Investor Letter, a copy of which you can download here. In the second quarter, the Miller Income Strategy fund returned 21.7% versus 9.6% for the unmanaged benchmark. You should check out Miller Value Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.
In the said letter, Miller Value highlighted a few stocks and Apollo Global Management Inc. (NYSE:APO) is one of them. Apollo Global Management Inc. (NYSE:APO) is an investment management company. Year-to-date, Apollo Global Management Inc. (NYSE:APO) stock gained 1.6% and on August 13th it had a closing price of $48.49. Miller Value cared to mention Apollo Global Management Inc. (NYSE:APO) in its investor letter, though they didn’t say why they really like the stock. All they said is this:
“Apollo Global Management (APO) was the top contributor over the quarter, advancing 50.6% in conjunction with the broad equity market and solid Q1 results. The company reported Q1 distributable earnings of $0.37, below consensus of $0.49 and the dividend of $0.42/share (3.4% annualized yield). Fee-related earnings of $0.52 showed more resiliency driven by ~90% of capital in long-dated funds and perpetual vehicles with less mark-to-market volatility. Fundraising remained robust with $7Bn of inflows over the period, bringing total assets under management to $315.5Bn and permanent capital to $162Bn (51% of total assets under management). Apollo deployed $5.1Bn in capital in Q1 while dry powder remained elevated at $41Bn.”
In Q1 2020, the number of bullish hedge fund positions on Apollo Global Management Inc. (NYSE:APO) stock increased by about 17% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with Apollo Global Management’s growth potential. Our calculations showed that Apollo Global Management Inc. (NYSE:APO) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
At Insider Monkey we scour multiple sources to uncover the next great investment idea. We go through lists like the 10 most profitable companies in America to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. You can subscribe to our free enewsletter below to receive our stories in your inbox:
Disclosure: None. This article is originally published at Insider Monkey.