Top 5 Stocks That Kayak Investment Partners is Buying

2. Warner Music Group Corp. (NASDAQ:WMG)

The second-to-last stock on our list of Kayak Investment Partners’ most bullish Q3 buys is Warner Music Group Corp. (NASDAQ:WMG), which the fund owns 924,229 shares of after raising its share ownership by 38% during Q3. Its WMG holding was valued at $39.5 million as of September 30. 29 hedge funds were long WMG on September 30, being virtually unchanged over the previous three quarters.

Investment management firm Jefferies Group took an interesting angle on Warner Music Group Corp. (NASDAQ:WMG) in its Q3 2021 investor letter, saying that Warner Music Group Corp. (NASDAQ:WMG) could do well in the metaverse, the virtual/augmented reality vision of the future being pushed forward by Mark Zuckerberg. Noting the popularity of music on many social platforms and the financial benefits to rightsholders like Warner Music, Jefferies envisions a future where social platforms like the metaverse play an even more prominent role in our lives as being potentially lucrative for Warner Music Group Corp. (NASDAQ:WMG).