Michael Weisberg’s Crestwood Capital Management’s Top 10 Stocks

Published November 9, 2021 at 5:56 am EST Updated September 7, 2026 at 1:47 pm EDT

In this article, we discuss Michael Weisberg’s Crestwood Capital Management’s top 10 stocks.

Michael Weisberg is the senior managing director at Crestwood Capital Management, a New York-based investment firm, with over $257 million in managed securities, and more than $436 million in assets under management as of the 13F filings at the end of June this year. Weisberg has been with Crestwood Capital Management since 2009 and has ownership stakes in the firm.

Crestwood Capital Management is a long/short equity hedge fund, with stocks concentrated in the information technology, finance, industrials, consumer discretionary, healthcare, and communications sectors. The top ten stocks comprise 65.98% of Weisberg’s portfolio for the second quarter, with the largest holding being ICICI Bank Limited (NYSE:IBN), which accounts for 8.31% of the firm’s investment portfolio.

As of June this year, Crestwood Capital Management’s top buys were Analog Devices, Inc. (NYSE:ADI), DocuSign, Inc. (NASDAQ:DOCU), and Spotify Technology S.A. (NYSE:SPOT). Whereas, Weisberg’s investment firm reduced holdings in The New York Times Company (NYSE:NYT), ANSYS, Inc. (NASDAQ:ANSS), and Shopify Inc. (NYSE:SHOP).

The most notable stocks in Weisberg’s Q2 portfolio include Meta Platforms, Inc. (NASDAQ:FB), DocuSign, Inc., Dollar General Corporation (NYSE:DG), and Spotify Technology S.A..

Michael Weisberg's Crestwood Capital Management's Top 10 Stocks

Pixabay/Public Domain

Our Methodology

Let’s take a look at Michael Weisberg’s Crestwood Capital Management’s top 10 stock picks. The stocks are ranked according to the value of each holding in Weisberg’s Q2 portfolio.

Why should we pay attention to Michael Weisberg’s stock picks? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Michael Weisberg’s Crestwood Capital Management’s Top Stocks

10. Ferrari N.V. (NYSE:RACE)

Crestwood Capital Management’s Stake Value: $12,286,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 4.76%

Number of Hedge Fund Holders: 27

Ferrari N.V. (NYSE:RACE) is an Italian manufacturer of luxury cars, which is known for its sleek vehicles and the continued association with Formula One sports car racing. Ferrari N.V., one of the top stocks of Crestwood Capital Management, is recognized for its supercars, including the 288 GTO, Enzo Ferrari, LaFerrari, and the F8 Spider. Crestwood Capital Management owns 59,628 shares in Ferrari N.V., worth $12.28 million, representing 4.76% of the firm’s portfolio at the end of June.

Ferrari N.V. announced earnings for Q3 on November 2, and the EPS for the quarter came in at $1.29, beating estimates by $0.13. Ferrari N.V.’s actual revenue was $1.22 billion, missing estimates by -$29.76 million.

RBC Capital analyst Tom Narayan on November 5 raised the price target on Ferrari N.V. to €260 from €202, keeping an Outperform rating on the stock.

As of the second quarter of 2021, 27 hedge funds reported owning stakes in Ferrari N.V., up from 26 in the previous quarter.

Here is what Ensemble Capital has to say about Ferrari N.V. in its Q2 2021 investor letter:

“Ferrari: After posting standout performance in 2020, beating the S&P 500 by over 20%, Ferrari’s share price performance has lagged for much of this year. The main issue this quarter was the company pushing out their medium-term financial targets due to development and production delays caused by COVID, but this only led to a 1% decline in the stock price for the full quarter. While we believe the company did a fantastic job maintaining production in light of COVID, it did not surprise us that some of their longer-term, new model introductions might be delayed by a couple of quarters. While disappointing of course, Ferrari is curating a set of extremely exclusive mechanical works of art and we are much happier seeing them take the time to do things right, rather than rushing to meet a self-imposed financial target.”

9. Huazhu Group Limited (NASDAQ:HTHT)

Crestwood Capital Management’s Stake Value: $15,113,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 5.86%

Number of Hedge Fund Holders: 27

Huazhu Group Limited (NASDAQ:HTHT), one of Michael Weisberg’s top stocks as of June this year, is a Chinese hotel management company headquartered in Shanghai. Crestwood Capital Management owns 286,172 shares in Huazhu Group Limited, valued at $15.11 million, representing 5.86% of the firm’s Q2 portfolio. As of 2020, the multi-brand hotel chain manages and owns 6187 hotels, including franchised outlets. Huazhu Group Limited’s portfolio contains 20 distinct hotel brands as of June 2021.

Huazhu Group Limited announced on October 27 that while business had started picking up after initial lockdowns imposed due to the COVID-19 pandemic were lifted, the Delta variant caused the hospitality industry in China to suffer tremendously yet again. As of the third quarter of 2021, the occupancy rate in Huazhu Group Limited’s hotels reached 49%, and the revenue per available room (RevPAR) was approximately 65% of the 2019 occupancy levels.

As of the second quarter of 2021, 27 hedge funds tracked by Insider Monkey’s database of elite funds were long Huazhu Group Limited.

In addition to Meta Platforms, Inc., DocuSign, Inc., Dollar General Corporation, and Spotify Technology S.A., Huazhu Group Limited is a notable stock in Weisberg’s Q2 portfolio.

8. Five Below, Inc. (NASDAQ:FIVE)

Crestwood Capital Management’s Stake Value: $15,547,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 6.02%

Number of Hedge Fund Holders: 42

Five Below, Inc. (NASDAQ:FIVE) is a chain of American specialty discount stores, selling products priced up to $5, as the name suggests, with a small variety of goods ranging from $6 to $10. With more than 1,000 outlets across the United States, the target audience of Five Below, Inc. includes teenagers and tweens. Five Below, Inc. is a top stock pick of Crestwood Capital Management, with the firm owning 80,443 shares in Five Below, Inc., worth $15.5 million, representing 6.02% of their investment portfolio as of June this year.

As of the second quarter of 2021, 42 hedge funds were bullish on Five Below, Inc., down from 43 in the previous quarter.

Morgan Stanley analyst Simeon Gutman, on October 7, upgraded Five Below, Inc. from Equal Weight to Overweight, with a $230 price target. Gutman believed that the concerns about freight and inventory are blown out of proportion, and Five Below, Inc. is handling inventory, freight, and financial management quite well.

Here is what Harding Loevner has to say about Five Below, Inc. in their Q4 2020 investor letter:

“Throughout the year, we tried methodically to rebalance the portfolio between “stay at home” and “return to normal” whenever the market appeared too pessimistic or optimistic about the sustainability of recent, pandemic-driven trends. As the year went on, we found ourselves tilting more towards “return to normal.” We established a new position in US retailer Five Below, a discount chain built around a rather simple concept: fill nondescript big-box locations with as many as possible items priced under US$5 that can tickle the imagination of an American teen or tween. As “pre-2020” as that may sound, we were impressed by the company’s quick resumption of strong same-store sales growth after the lockdowns early in the year. Clearly, Five Below offers a value and entertainment proposition that e-commerce is not able to satisfy and which we can see ourselves “sitting” on potentially for years to come.”

7. Synopsys, Inc. (NASDAQ:SNPS)

Crestwood Capital Management’s Stake Value: $15,724,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 6.09%

Number of Hedge Fund Holders: N/A

Synopsys, Inc. (NASDAQ:SNPS), a top stock pick of Michael Weisberg as of the second quarter, is an American software company that is engaged in chip design, verification, IP integration, software security, and quality testing to create smart and cutting-edge solutions like self-driving cars and machines that are capable of learning. Weisberg, via Crestwood Capital Management, owns 57,015 shares in Synopsys, Inc., worth $15.72 million, representing 6.09% of the firm’s Q2 portfolio.

Needham analyst Charles Shi, on October 19, initiated coverage of Synopsys, Inc. with a $360 price target and a Buy rating.

Synopsys, Inc. acquired Concertio, as reported on November 2, which is a company specializing in performance optimization software that is facilitated by artificial intelligence. This acquisition will benefit Synopsys, Inc.’s SiliconMAX Silicon Lifecycle Management Platform, which helps with in-chip observability, analytics and integrated automation.

In addition to Meta Platforms, Inc., DocuSign, Inc., Dollar General Corporation, and Spotify Technology S.A., Synopsys, Inc. is a notable stock in Weisberg’s Q2 portfolio.

6. Carvana Co. (NYSE:CVNA)

Crestwood Capital Management’s Stake Value: $16,770,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 6.50%

Number of Hedge Fund Holders: 63

Carvana Co. (NYSE:CVNA) is an e-commerce platform that sells used cars online, connecting buyers with sellers, and is often described as the “Amazon of Auto”. Michael Weisberg’s Crestwood Capital Management owns 55,564 shares in Carvana Co., valued at $16.77 million, representing 6.50% of the firm’s portfolio at the end of June this year.

Carvana Co. reported earnings for the third quarter on November 4. The Q3 EPS came in at -$0.38, missing estimates by -$0.11. Carvana Co.’s revenue, however, beat estimates at $3.48 billion by $219.76 million.

Needham analyst Chris Pierce on November 5 kept a Buy rating on Carvana Co., but lowered the price target from $421 to $378 after the Q3 earnings missed estimates. The analyst also expects increased expenses while Carvana Co. tries to meet demand, but Pierce remains optimistic on the stock.

As of the end of June, 63 hedge funds tracked by Insider Monkey were long Carvana Co., down from 64 in Q1.

Here is what Steel City Capital has to say about Carvana Co. in their Q1 2021 investor letter:

“Carvana’s (CVNA) 4Q’20 results weren’t particularly great. EBITDA was negative ($70) million, a stark turnaround on a sequential basis from a first-ever EBITDA profit of $21 million in 3Q’20. The culprit was a steep drop off in retail unit GPU ($1,265 vs. $1,857) and wholesale unit GPU ($358 vs. $1,113) as some of the COVID-driven aberrations in the used car market began to abate.

The company’s presentation of EBITDA (calculated “bottom up”) is dubious, as it commingles non-operating items including mark-to-market changes in its retained securitization portfolio. With the exception of 1Q’20, when ABS markets were going haywire, this line item provided a tailwind throughout 2020, including a gain of $5 million in 4Q’20. Also on the non-operating self-help front, management released a reserve for vehicle service contract cancellations in 4Q’20, adding another $7 million to EBITDA, and boosting “Other” GPU by $96…” (Click here to see the full text)

5. ANSYS, Inc. (NASDAQ:ANSS)

Crestwood Capital Management’s Stake Value: $17,336,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 6.50%

Number of Hedge Fund Holders: 46

ANSYS, Inc., a top stock in Michael Weisberg’s portfolio for the second quarter, is a Pennsylvania-based software company that offers engineering simulation software that facilitates design and testing of new products. Crestwood Capital Management owns 49,952 shares in ANSYS, Inc., worth $17.3 million, representing 6.50% of the firm’s Q2 portfolio.

As of the second quarter of 2021, 46 hedge funds reported owning stakes in ANSYS, Inc., up from 33 in the preceding quarter.

On November 3, ANSYS, Inc. reported earnings for the third quarter. The Q3 EPS came in at $1.59, beating estimates by $0.24.

Matthew Hedberg from RBC Capital on November 5 raised the price target on ANSYS, Inc. from $380 to $425, keeping a Sector Perform rating on the stock. He stated that the Q3 earnings were strong, and the improving SMB segment is a plus, but Hedberg’s neutral stance on ANSYS, Inc. was a result of the stock’s present valuation.

Here is what Baron Growth Fund has to say about ANSYS, Inc. in its Q1 2021 investor letter:

“ANSYS, Inc. is a leading provider of physics-based simulation software used to evaluate how products will perform under various scenarios. Shares fell amid a broader market correction in software valuations after a robust 2020. We retain conviction as ANSYS presented strong growth with large accounts and resiliency in its core business throughout 2020, supported by its diversified customer base and focus on secular growth initiatives.”

4. Palantir Technologies Inc. (NYSE:PLTR)

Crestwood Capital Management’s Stake Value: $17,336,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 6.72%

Number of Hedge Fund Holders: 26

Palantir Technologies Inc. (NYSE:PLTR) is a software company that aims to create platforms that integrate, manage, and secure data, while designing machines that can learn human instincts and provide insights on critical data analysis. Crestwood Capital Management holds a $17.3 million stake in Palantir Technologies Inc. as of June this year, which accounts for 6.72% of the firm’s portfolio.

As of the second quarter of 2021, 26 hedge funds monitored by Insider Monkey reported owning stakes in Palantir Technologies Inc., down from 32 in the preceding quarter.

Brad Zelnick, an analyst from Deutsche Bank, on November 1, kept a Hold rating on Palantir Technologies Inc. with a $25 price target. While Zelnick was impressed with the tech driven AI analytics at Palantir Technologies Inc., he was uncertain about the long-term economics of the business, in terms of sustainable pricing and capability to win the down-market.

Here is what Guardian Fund has to say about Palantir Technologies Inc. in its Q2 2021 investor letter:

“The success of the private sector to innovate in order to help people through the lockdowns and to produce vaccines at record speed at scale has been impressive. The fact that almost every public institution was struggling to be effective no matter how hard some of the people worked, shows the fundamental need of the public sector to become data-driven and invest in data infrastructure.

Government institutions have to partner with enterprises such as Palantir to become digitalnative. The public sector will always struggle to attract the most talented engineers as compensations cannot be justified with tax money and therefore this must be a partnership with specialized private enterprises. This is a great opportunity for Palantir especially as it has already shown to be capable of working with demanding and complex public institutions entrusting it to work on the most critical and sensitive matters.

The news section of Palantir’s website gives insight into where new business is coming from. The main opportunity is in enterprise software and the faster onboarding time and increased self-service of clients is a positive sign. We believe Palantir is becoming one of the more important global software companies.

In addition, Palantir has quietly become a significant investor, investing well over USD 200 million in eight companies. Therefore, it is following the lead of companies like Tencent, Alphabet, and Shopify in establishing valuable investment portfolios.”

3. Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Crestwood Capital Management’s Stake Value: $17,602,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 6.82%

Number of Hedge Fund Holders: 35

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is an aerostructures manufacturer from Kansas, the largest company of its kind in the world. Spirit AeroSystems Holdings, Inc. crafts important parts for the Boeing aircraft and the Airbus A350.

Ken Herbert from RBC Capital, on October 21, kept an Outperform rating on Spirit AeroSystems Holdings, Inc., with a $62 price target. He stated that Spirit AeroSystems Holdings, Inc. was a good candidate for investors who were looking to gain from the recovery of the commercial aerospace sector. Spirit AeroSystems Holdings, Inc.’s 2022 free cash flows are also an upside.

2. Shopify Inc. (NYSE:SHOP)

Crestwood Capital Management’s Stake Value: $20,807,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 8.06%

Number of Hedge Fund Holders: 85

Shopify Inc. is a Canadian multinational e-commerce platform that houses multiple online retailers, allowing them to connect with customers and vice versa. As of 2021, more than 1.7 million businesses across 175 countries are listed on Shopify Inc.. A top stock according to Michael Weisberg, Crestwood Capital Management owns 14,242 shares in Shopify Inc., amounting to $20.8 million. Shopify Inc. accounts for 8.06% of the investment portfolio managed by Michael Weisberg as of June this year.

As of the second quarter, 85 hedge funds were long Shopify Inc., down from 91 in the preceding quarter.

Deutsche Bank analyst Bhavin Shah on November 1 initiated coverage of Shopify Inc. with a $1650 price target and a Hold rating. He took into account the potential short-term supply chain hindrances and the limited near-term catalysts for Shopify Inc., even though he remained bullish on the future prospects of Shopify Inc..

Here is what ClearBridge Investments has to say about Shopify Inc. in its Q2 2021 investor letter:

“Shopify (is one of the) companies that have become go-to platforms for small and medium size businesses (SMBs) engaged in e-commerce and social media marketing, rebounded strongly in the quarter after being caught in the selloff among high-multiple growth names since Vaccine Monday. These and the portfolio’s other disruptors had thrived through the first part of the pandemic, leading us to trim positions into strength and reallocate cash into more attractively priced evolving opportunities and steady compounders that had been overly punished by lockdowns and a drop in economic activity.”

1. ICICI Bank Limited (NYSE:IBN)

Crestwood Capital Management’s Stake Value: $21,446,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 8.31%

Number of Hedge Fund Holders: 28

The top stock in Michael Weisberg’s Q2 portfolio is ICICI Bank Limited, which is an Indian financial services company, headquartered in Mumbai, India. ICICI Bank Limited, via its subsidiaries, caters to corporate and retail customers, offering services like investment banking, insurance, venture capital, and asset management. Crestwood Capital Management owns 1.25 million shares in ICICI Bank Limited, worth $21.4 million, representing 8.31% of the firm’s 13F portfolio at the end of June this year.

On October 23, ICICI Bank Limited announced earnings for the third quarter. The EPS for the quarter came in at $0.21, missing estimates by -$0.01. The Q3 revenue for ICICI Bank Limited beat estimates by $131.15 million, coming in at $2.20 billion.

At the end of the second quarter of 2021, 28 hedge funds monitored by Insider Monkey’s database of elite funds were long ICICI Bank Limited, down from 31 in the preceding quarter.

You can also take a look at 10 Best Roth IRA Stocks To Buy According To Hedge Funds and 10 Stocks Making Noise After Releasing Their Earnings Reports.

Follow Insider Monkey on Twitter