Billionaire David Tepper is Dumping These 5 Stocks

3. The Mosaic Company (NYSE:MOS)

Number of Hedge Fund Holders: 66

The Mosaic Company (NYSE:MOS) is a Florida-based supplier of concentrated phosphate and potash crop nutrients in North America and internationally. In the first quarter of 2022, David Tepper dumped 66% of his stake in The Mosaic Company (NYSE:MOS). The billionaire held 835,000 shares of the company worth $55.5 million, representing 2.22% of the total Q1 portfolio. 

On August 3, Citi analyst P.J. Juvekar upgraded The Mosaic Company (NYSE:MOS) to Buy from Neutral with a price target of $61, up from $57. The analyst thinks agriculture stocks will outperform in a lagging economic environment. The conditions in fertilizers will potentially tighten yet again after the seasonal summer slowdown, especially as the Latin American season arrives in the next few months, the analyst told investors in a research note. The analyst also observed that the Russian-Ukraine war has “upended” agriculture and fertilizer sectors and that the present tightness “is not a one-year fix”. It is likely going to take multiple years to maintain a balance in supply and demand, as per the analyst.

According to Insider Monkey’s data, 66 hedge funds were bullish on The Mosaic Company (NYSE:MOS) at the end of the first quarter of 2022, up from 46 funds in the preceding quarter. Eric W. Mandelblatt’s Soroban Capital Partners is the leading position holder in the company, with roughly 5 million shares worth $328.3 million. 

Here is what Carillon Scout Mid Cap Fund has to say about The Mosaic Company (NYSE:MOS) in its Q1 2022 investor letter:

“Despite a rally near the end of the quarter, major equity indexes closed lower as fear of U.S. Federal Reserve (FED) balance sheet tapering, interest rate hikes, and war in the Ukraine sent the bulls into retreat. Supply chains eased for some goods, but remained challenged for many commodities including energy, agriculture, and fertilizer due to war and general scarcity, and also in many consumer products as semiconductors remained in short supply. Potash and phosphate fertilizer producer Mosaic (NYSE:MOS) performed strongly as war exacerbated already short supplies of key oil and gas exploration.”