Billionaire Richard Chilton’s Top 5 Stock Picks

4. The Home Depot, Inc. (NYSE: HD)

Chilton Investment Company appears to be bullish on The Home Depot, Inc. (NYSE: HD). The hedge fund has been holding a stake in the home improvement retailer over the last ten years. Shares of Home Depot outperformed the broader market in the last twelve months, accelerating ten years gains to 640%.

Ensemble Capital Management stated in an investor’s letter that home improvement spending is likely to remain strong in the months ahead. Here is what Ensemble Capital Management stated:

“A notable detractor from our performance came from our investment in Home Depot. Home Depot reported outstanding results during 2020, with the stock outperforming the S&P 500 for the full year. But after a strong second and third-quarter performance, the stock was down slightly in the fourth quarter, declining approximately 4%. We believe that home improvement spending will remain elevated in the years ahead as housing activity continues to rebound after years of lower than normal rates of Americans moving.”