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Constantine Mamakos’ Venator Management Portfolio: Top 10 Stocks

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·7 min read
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  • TMUS
  • BRK-B
  • NVR
  • LBRDP

In this article, we discuss the top 10 stocks in Constantine Mamakos' portfolio. If you want to skip our detailed analysis of Mamakos’ history, investment philosophy, and hedge fund performance, go directly to Constantine Mamakos' Portfolio: Top 5 Stocks.

Serving as the portfolio manager and analyst, responsible for investment research and capital allocation decisions, Constantine Mamakos is the founder of the Pennsylvania-based investment firm, Venator Management. After earning his B.S from the Carnegie Mellon University and his M.B.A from The Wharton School of University of Pennsylvania, Constantine Mamakos began his career in investments and finance in 2002. Prior to founding Venator Management, he served as an analyst at Quaker Capital Management. He later left the firm in 2013, and founded his own hedge fund that same year.

According to the Q2 filings, Venator Management, as an investment firm, manages more than $368.7 million in assets. Venator Management's portfolio is diversified across 8 key sectors, with the Technology sector being the largest one. The fund focuses most of its investments in the United States, with a majority of the companies in the fund’s portfolio being large-cap companies with stocks scaling up to more than $10 billion in market capitalization, making up 39% of the fund’s total value.

Some of the top stocks present in the investment portfolio of Venator Management at the end of the second quarter of 2021 include Facebook, Inc. (NASDAQ:FB), Alphabet Inc. (NASDAQ:GOOG), JPMorgan Chase & Co. (NYSE:JPM) and Uber Technologies, Inc. (NYSE:UBER), among others discussed in detail below.

Constantine Mamakos Portfolio: Top 10 Stocks
Constantine Mamakos Portfolio: Top 10 Stocks

Our Methodology

With this background in mind, let us now look towards the top 10 stocks in Constantine Mamakos' portfolio. We made use of Venator Management's 13F portfolio for the second quarter for this analysis.

Why should we pay attention to Constantine Mamakos' 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 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.

Constantine Mamakos' Portfolio: Top 10 Stocks

10. NVR, Inc. (NYSE:NVR)

Venator Management's Stake Value: $11.5 million

Percentage of Venator Management's 13F Portfolio: 3.12%

Number of Hedge Fund Holders: 28

NVR, Inc. (NYSE:NVR) operates as a home construction and mortgage banking company based in Virginia. The company was founded in 1980, and it stands tenth on the list of the top 10 stocks in Constantine Mamakos' portfolio.

On October 14, JPMorgan analyst Michael Rehaut lowered his price target on NVR, Inc. (NYSE:NVR) to $5,770 from $6,300, and kept a Neutral rating on the shares of the company.

In the second quarter of 2021, Constantine Mamakos' Venator Management owned 2,316 shares in NVR, Inc. (NYSE:NVR), worth $11.5 million. This represented 3.12% of the fund's investment portfolio. Of the 873 elite funds being tracked by Insider Monkey, 28 held stakes in the company by the end of the June quarter.

9. Organon & Co. (NYSE:OGN)

Venator Management's Stake Value: $12.2 million

Percentage of Venator Management's 13F Portfolio: 3.32%

Number of Hedge Fund Holders: 44

Organon & Co. (NYSE:OGN) is a global pharmaceutical company that develops and delivers innovative health solutions, medicines, and related products across a range of therapeutic areas.

On October 7, Piper Sandler analyst David Amsellem initiated coverage of Organon & Co. (NYSE:OGN) with a Neutral rating and a $35 price target.

Organon & Co. (NYSE:OGN) is one of the newest additions in the investment portfolio of Venator Management in Q2 2021. The fund owns over 405,350 shares in the company, valued at $12.2 million. Of the 873 hedge funds tracked by Insider Monkey, 44 hedge funds have positions in Organon & Co. (NYSE:OGN) in Q2, valued at $427.8 million.

8. T-Mobile US, Inc. (NASDAQ:TMUS)

Venator Management's Stake Value: $14.47 million

Percentage of Venator Management's 13F Portfolio: 3.92%

Number of Hedge Fund Holders: 100

T-Mobile US, Inc. (NASDAQ:TMUS) is ranked eighth on our list of top 10 stocks in Constantine Mamakos' portfolio. The firm provides communication services and is headquartered in Washington.

According to the second quarter securities filings, Venator Management owned 99,923 shares in the company worth $14.47 million, representing 3.92% of the portfolio. At the end of the June quarter of 2021, 100 hedge funds in the database of Insider Monkey held stakes worth $8.02 billion in T-Mobile US, Inc. (NASDAQ:TMUS), up from 98 the preceding quarter worth $9.06 billion.

On September 20, investment advisory Loop Capital initiated coverage of T-Mobile US, Inc. (NASDAQ:TMUS) stock with a Buy rating and a price target of $160.

ClearBridge Investments, an investment management firm, in its first-quarter 2021 investor letter mentioned T-Mobile US, Inc. (NASDAQ:TMUS). Here is what the firm said:

“The portfolio’s quality bias and valuation discipline have generated compelling returns over time with typically strong relative results in more challenging environments as it did through the first three quarters of 2020. However, that same quality bias tends to create a more challenging relative performance environment for the Strategy during periods of sharp economic acceleration, which tend to benefit stocks that are more commodity linked or of lower quality. This has been the case during the vaccine- and stimulus-driven rally experienced late last year and during the most recent quarter. Sectors that lagged in the quarter included communication services, where T-Mobile trailed after generating robust returns earlier in the recovery.”

7. Berkshire Hathaway, Inc. (NYSE:BRK.A)

Venator Management's Stake Value: $16.7 million

Percentage of Venator Management's 13F Portfolio: 4.54%

Number of Hedge Fund Holders: 116

One of the largest publicly traded companies in the world, Berkshire Hathaway Inc. (NYSE:BRK-A) operates in the insurance, freight rail transportation, and utility industries worldwide through its subsidiaries.

Our database shows that 116 hedge funds are bullish on Berkshire Hathaway Inc. (NYSE:BRK.A) in the second quarter of 2021, up from 111 in the previous quarter. Constantine Mamakos owns 60,349 shares in Berkshire Hathaway Inc. (NYSE:BRK-A), worth more than $16.7 million, accounting for 4.54% of the fund's portfolio.

Black Bear Value Partners, in its Q3 2021 investor letter, mentioned Berkshire Hathaway Inc. (NYSE:BRK-A). Here is what the fund said:

“Please see Q1 letter for our Berkshire on a Napkin investment exercise. We have written on it extensively and will save your eyeballs from extraneous reading. Berkshire is very cheap for owning such high-quality businesses and will continue to grind higher and compound value for us.”

6. Liberty Broadband Corporation (NASDAQ:LBRDA)

Venator Management's Stake Value: $22.4 million

Percentage of Venator Management's 13F Portfolio: 6.09%

Number of Hedge Fund Holders: 28

Established in 2014 and headquartered in Colorado, Liberty Broadband Corporation (NASDAQ:LBRDA) invests in communication companies providing a wide range of cable, data, wireless, video, voice, and managed services.

Constantine Mamakos' Venator Management currently owns 133,631 shares of Liberty Broadband Corporation (NASDAQ:LBRDA), amounting to over $22.4 million in worth and accounting for 6.09% of the fund’s portfolio. There were 28 hedge funds in Insider Monkey’s database that held stakes in Liberty Broadband Corporation (NASDAQ:LBRDA) in the second quarter of 2021, compared to 23 funds in the first quarter.

Alphyn Capital Management, in their Q1 2021 investor letter, mentioned Liberty Broadband Corporation (NASDAQ:LBRDA). Here is what the fund said:

“Liberty Broadband completed its merger with GCI, thereby collapsing one layer of the double discount to Charter Communications, presenting a good opportunity to trim that position as well.”

Click to continue reading and see Constantine Mamakos' Portfolio: Top 5 Stocks.

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Disclosure. None. Constantine Mamakos' Portfolio: Top 10 Stocks is originally published on Insider Monkey.