In this article, we take a look at the top 5 stock picks of Invenomic Capital Management. If you want to check out our detailed analysis on Invenomic Capital’s history, investment philosophy, and hedge fund performance, go directly to the Top 10 Stock Picks of Invenomic Capital Management.
5. Teck Resources Limited (NYSE:TECK)
ICM’s Stake Value: $6.4 million
Percentage of ICM’s 13F Portfolio: 1.53%
Number of Hedge Fund Holders: 40
Teck Resources Limited (NYSE: TECK) is a company based in British Columbia that is involved in the mining and mineral development business. Invenomic Capital Management holds 0.27 million shares in the company after increasing their stake by 132% in the second quarter of 2021.
Contrarius Investment Management is the biggest stakeholder in the company with over 7 million shares, representing 8.27% of their portfolio as of the Q2 of 2021 even though they decreased their stake by 7%.
4. Kinross Gold Corporation (NYSE:KGC)
ICM’s Stake Value: $6.96 million
Percentage of ICM’s 13F Portfolio: 1.67%
Number of Hedge Fund Holders: 28
Kinross Gold Corporation is a gold and silver mining company. It is headquartered in Toronto, Canada. It runs mining projects in various countries like Mauritania, Brazil and Russia among others. Invenomic Capital Management holds over 1 million shares in the company after increasing their stake by 20% in the Q2 of 2021.
Kinross Gold Corporation (NYSE: KGC) posted a revenue of $1.00 billion in the Q2 of 2021 with EPS at $0.09, missing analyst estimates by -$0.03.
3. Bonanza Creek Energy, Inc. (NYSE:BCEI)
ICM’s Stake Value: $7.8 million
Percentage of ICM’s 13F Portfolio: 1.86%
Number of Hedge Fund Holders: 21
Bonanza Creek Energy, Inc. (NYSE: BCEI) is an energy company headquartered in Denver, Colorado. It is involved in the extraction of oil and natural gas across the United States. Invenomic Capital Management holds over 0.16 million shares in the company after a decrease in stake by 6% in the second quarter of 2021.
The hedge fund Driehaus Capital is the leading stakeholder in Bonanza Creek Energy, Inc. (NYSE: BCEI) with over 0.6 million shares, representing 0.4% of their portfolio in the Q2 of 2021.
2. H&R Block, Inc. (NYSE:HRB)
ICM’s Stake Value: $8.3 million
Percentage of ICM’s 13F Portfolio: 1.99%
Number of Hedge Fund Holders: 30
H&R Block, Inc. (NYSE: HRB) is a company headquartered in Kansas City, Missouri. The company provides tax preparation services to its clients and operates in many countries other than the United States. Invenomic Capital Management holds 0.35 million shares in the company after an increase of stake by 2% in the Q2 of 2021.
The biggest stakeholder hedge fund in H&R Block, Inc. (NYSE: HRB) as of Q2 of 2021 is D E Shaw that holds over 1.5 million shares in the company, representing 0.03% of their portfolio.
1. Stride, Inc. (NYSE:LRN)
ICM’s Stake Value: $8.96 million
Percentage of ICM’s 13F Portfolio: 2.15%
Number of Hedge Fund Holders: 21
Stride, Inc. (NYSE: LRN) is an education company headquartered in Herndon, Virginia. It is focused on providing services related to career learning, digital learning and personalized education. Invenomic Capital Management holds 0.27 million shares in the company after increasing their stake by 50% in the Q2 of 2021.
Stride, Inc. (NYSE: LRN) posted a revenue of $397 million in the Q2 of 2021 with EPS at $0.25 beating the analyst estimates by $0.09. On September 14, Citi analyst Thomas Singlehurst initiated the coverage of Stride, Inc. (NYSE: LRN) with a ‘Buy’ rating and a price target of $65.
You can also take a peek at the 30 Most Popular Stocks Among Hedge Funds: 2021 Q2 Rankings and Jim Simons’ Quant Hedge Fund is Buying These 10 Stocks.
