Billionaire Bruce Kovner’s Trading Strategy and Top 5 Picks

3. Aptiv PLC (NYSE: APTV)

Number of Hedge Fund Holders: 44

The auto parts manufacturer Aptiv PLC (NYSE: APTV) has been a member of Bruce Kovner’s portfolio since the final quarter of 2019. The firm held 462,225 shares of Aptiv during the December quarter, accounting for 4.16% of the overall portfolio. The share price of Aptiv grew 138% in the last twelve-month on the back of robust demand.

In the Q1 2021 investor letter, Oakmark Funds stated reasons for eliminating its Aptiv PLC position. Here is what Oakmark Funds said:

“Aptiv approached our estimates of intrinsic value and was, therefore, eliminated during the period. The company was longstanding investment of the Fund and produced successful outcomes. We continue to believe that Aptiv is a well-positioned auto supplier that is likely to continue outgrowing light vehicle production for the foreseeable future, but this dynamic is now more fully appreciated by the market.”