In this article, we will discuss the top 5 stock picks of David Halpert’s Prince Street Capital Management. If you want to read our detailed analysis of Halpert’s history, investment philosophy, and hedge fund performance, go directly to the Top 10 Stock Picks of David Halpert’s Prince Street Capital Management.
5. América Móvil, S.A.B. de C.V. (NYSE:AMX)
Prince Street Capital Management Stake Value: $12,280,000
Percentage of Prince Street Capital Management’s 13F Portfolio: 7.63%
Number of Hedge Fund Holders: 13
América Móvil, S.A.B. de C.V. (NYSE:AMX) is a telecommunications services firm that operates in Latin America and across the world.
Barclays analyst Gilberto Garcia boosted América Móvil, S.A.B. de C.V.’s (NYSE:AMX) price objective to $21 from $19 in October and maintained an “Overweight” rating on the stock. In the third quarter of 2021, América Móvil, S.A.B. de C.V. (NYSE:AMX) reported revenue of Mex$253.3 billion, down 2.7% YoY.
By the end of the second quarter of this year, 13 hedge funds out of the 873 tracked by Insider Monkey held shares in América Móvil, S.A.B. de C.V. (NYSE:AMX) worth roughly $114.47 million, compared to 15 hedge funds in the previous quarter whose stake value totaled about $93.82 million.
4. Ozon Holdings PLC (NASDAQ:OZON)
Prince Street Capital Management Stake Value: $15,886,000
Percentage of Prince Street Capital Management’s 13F Portfolio: 9.88%
Number of Hedge Fund Holders: 19
Ozon Holdings PLC (NASDAQ:OZON) manages and provides an e-commerce and business platform. Out of the hedge funds being tracked by Insider Monkey, Tiger Global Management LLC is a leading shareholder in Ozon Holdings PLC (NASDAQ:OZON) with 2.75 million shares worth more than $138.93 million.
Ozon Holdings PLC (NASDAQ:OZON), a well-known Russian e-commerce company, declared its financial results for the third quarter ended September 30, 2021. Ozon Holdings PLC’s (NASDAQ:OZON) revenue over the period stood at RUB41.49 billion, up 85% from the prior-year quarter.
Ozon Holdings PLC (NASDAQ:OZON) was in 19 hedge funds’ portfolios at the end of the second quarter of 2021, up from 17 the preceding quarter worth $79 million. The all-time-high for this statistic is 21.
3. Sea Limited (NYSE:SE)
Prince Street Capital Management Stake Value: $16,446,000
Percentage of Prince Street Capital Management’s 13F Portfolio: 10.23%
Number of Hedge Fund Holders: 104
Sea Limited (NYSE:SE) is a Singapore-based e-commerce, payments, and online-gaming firm. As of the third quarter of 2021, Prince Street Capital Management has 51,600 shares in Sea Limited (NYSE:SE), valued at $16.45 million. The company accounts for 10.23% of the 13F portfolio.
Of the 873 elite funds tracked by Insider Monkey, 104 held stakes in Sea Limited (NYSE:SE), worth more than $12.21 billion.
Tao Value, an investment management firm, in its second-quarter 2021 investor letter, mentioned Sea Limited (NYSE:SE). Here is what the fund said:
“Sea continued to execute above expectation. The gaming business continued strong momentum, recording bookings of $1.1 billion, growing 117% y-o-y. The major franchise Free Fire showed no sign of slowing down in established ASEAN & LatAm market and received positive reception from new markets like US. On e-commerce side, Shopee demonstrated early success in expanding to Brazil, by adopting a low-price category & gamification strategy. For 2021, Shopee is now top downloaded e-commerce app in Brazil, almost 2x of the second-place local leader Mercado Libre (MELI). I also see the most promising development is in its FinTech business – SeaMoney, which more than doubled its revenue in Q1 2021 from the previous quarter! With online lending products rolling out, SeaMoney is poised to grow rapidly, becoming the 3rd growth curve for Sea.”
2. Yandex N.V. (NASDAQ:YNDX)
Prince Street Capital Management Stake Value: $19,970,000
Percentage of Prince Street Capital Management’s 13F Portfolio: 12.42%
Number of Hedge Fund Holders: 31
Yandex N.V. (NASDAQ:YNDX) is a Russian multibillion-dollar firm that offers more than 70 internet-related goods and services. Out of the hedge funds being tracked by Insider Monkey, Orbis Investment Management is a leading shareholder in Yandex N.V. (NASDAQ:YNDX) with 4.98 million shares worth more than $396.73 million.
In October, Yandex N.V. (NASDAQ:YNDX) reported financial performance for the third quarter. Its posted revenue of $1.25 billion, up 70.7% year over year. Yandex N.V.’s (NASDAQ:YNDX) EPS came in at $0.13, which was $0.33 higher than expected.
Out of the elite hedge funds traced by Insider Monkey, 31 funds were bullish on Yandex N.V. (NASDAQ:YNDX), with stakes worth over $1.36 billion at the end of the second quarter. This is compared to 29 hedge funds with stakes valued at $ 1.26 billion in the previous quarter.
1. MercadoLibre, Inc. (NASDAQ:MELI)
Prince Street Capital Management Stake Value: $26,534,000
Percentage of Prince Street Capital Management’s 13F Portfolio: 16.5%
Number of Hedge Fund Holders: 74
MercadoLibre, Inc. (NASDAQ:MELI) is an online e-commerce platform and online auction company based in Buenos Aires, Argentina. The company priced a public offering of 1 million shares of common stock at $1,550.00 per share on November 16, raising $1.55 billion in gross proceeds. The net revenues will be used to fund the business’s ongoing operations.
MercadoLibre, Inc. (NASDAQ:MELI) issued its third-quarter financial results on November 4, with earnings per share of $1.92, topping estimates of $0.63. However, the company also reported a revenue of $1.86 billion, below the consensus estimate of $30 million.
David Halpert’s Prince Street Capital currently owns 15,800 shares of MercadoLibre, Inc. (NASDAQ:MELI), amounting to more than $26.53 million in worth and accounting for 16.5% of the fund’s portfolio. At the end of the second quarter of 2021, 74 hedge funds in the database of Insider Monkey held stakes worth $4.02 billion in MercadoLibre, Inc. (NASDAQ:MELI), down from 69 in the previous quarter worth $5.22 billion.
In the Q2 2021 investor letter of Polen Capital, the fund mentioned MercadoLibre, Inc. (NASDAQ:MELI). Here is what the fund said:
“Argentina-based MercadoLibre operates Latin America’s leading ecommerce website and digital wallet. Both e-commerce and consumer finance are underpenetrated among the nearly 400 million citizens living in the company’s three largest markets: Brazil, Argentina, and Mexico.
MercadoLibre’s digitally native solution gives more than 70 million users an easy access point for both online shopping and a digital wallet.
From humble beginnings as a third-party marketplace, MercadoLibre’s management built the business over the last twenty years by steadily expanding the platform’s reach with new services to suit both merchants and consumers. Today’s offerings include financing capabilities for buyers and sellers, logistics, loyalty programs, classifieds listings, and grocery items. We think MercadoLibre can compound earnings at a 25% rate for the next five years.”
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