Below is the list of 5 stocks billionaire Rob Citrone is selling. For a detailed discussion about Rob Citrone’s investment philosophy and portfolio management strategies please see Billionaire Rob Citrone Is Selling These 10 Stocks.
5. ACV Auctions Inc. (NASDAQ:ACVA)
Number of Hedge Fund Holders: 22
Discovery Capital Management sold out its entire stake in ACV Auctions Inc. (NASDA:ACVA) during the September quarter. The share price of the company is down almost 20% since its debut on NASDAQ in April 2021. ACV Auctions is an online marketplace for wholesale vehicles. Concerns over lower interest in online platforms in the post-pandemic situation negatively impacted ACV Auctions’ share price in the past few months.
Of the 867 elite funds tracked by Insider Monkey, 22 were bullish about the company as of September. Eric Bannasch’s Cadian Capital was the leading stakeholder in the company.
4. BeyondSpring Inc. (NASDAQ:BYSI)
Number of Hedge Fund Holders: 10
BeyondSpring Inc. (NASDAQ:BYSI) is among the stocks billionaire Rob Citrone sold in the September quarter. He first initiated a position in the company at the beginning of this year. Shares of BeyondSpring plunged more than 60% year to date. It is a clinical-stage biotechnology company.
Of the 867 hedge funds tracked by Insider Monkey, BeyondSpring was in 10 portfolios as of September compared to 5 positions in the prior quarter. Ken Griffin’s Citadel Investment Group was the leading stakeholder in the company.
3. Bilibili Inc. (NASDAQ:BILI)
Number of Hedge Fund Holders: 35
Discovery Capital Management initiated a position in Bilibili Inc. (NASDAQ:BILI) during the first quarter and then unloaded some stake in the second quarter before completely exiting the position in the September quarter. Shares of Bilibili remained under pressure throughout this year. Bilibili Inc. provides online entertainment services in China.
Like billionaire Rob Citrone, many other hedge funds sold their stake in Bilibili during the September quarter. It was in 35 hedge funds’ portfolios as of September compared to 47 positions in the prior quarter.
2. DigitalBridge Group, Inc. (NYSE:DBRG)
Number of Hedge Fund Holders: 31
Shares of DigitalBridge Group, Inc. (NYSE:DBRG) were owned by billionaire Rob Citrone only for a quarter. His hedge fund initiated a stake in DigitalBridge Group during the second quarter and sold out the entire stake in the September quarter. Shares of DigitalBridge jumped 66% year to date. DigitalBridge is a leading global digital infrastructure REIT.
DigitalBridge Group was in 31 hedge funds’ portfolios at the end of the third quarter of 2021.
1. First Advantage Corporation (NASDAQ:FA)
Number of Hedge Fund Holders: 19
Billionaire Rob Citrone bought shares of First Advantage Corporation (NASDAQ:FA) during its IPO in the second quarter and sold out the entire stake in September. The company’s stock price fell sharply in the past few months and currently trading below from the 52-week high of $25 a share.
Like Discovery Capital Management, several other hedge funds sold their stakes in First Advantage Corporation in recent months. As of the end of September, it was in 19 hedge funds’ portfolios compared to 27 positions in the previous quarter.
You can also take a look at the Top 10 Stock Picks of George Soros and 10 Biotech Stocks in Billionaire Ray Dalio’s Portfolio.
