Below is the list of top 5 stock picks of Joe Milano’s Greenhouse Funds. For a detailed discussion about Joe Milano’s investment philosophy and portfolio management strategy please see Top 10 Stock Picks of Joe Milano’s Greenhouse Funds.
5. Dropbox, Inc. (NASDAQ:DBX)
Greenhouse Funds’ stake value: $48M
A potential acquisition candidate such as Dropbox, Inc. (NASDAQ:DBX) could generate hefty gains for investors in the quarters ahead. Dropbox is reportedly being approached by large software companies for a possible takeover. Speculations about a takeover increased as prominent activist Elliott Management recently took a stake in Dropbox. During the March quarter, Joe Milano’s fund increased its stake in Dropbox by 4%.
As of the end of the March quarter, Dropbox was in 43 hedge fund portfolios. Catherine D. Wood’s ARK Investment Management was a leading stakeholder in the company. The hedge fund sentiment however fell sharply in the second quarter as hedge funds began fleeing risky growth stocks. At the end of June, just 32 funds had stakes in the company.