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Top 10 Stocks To Invest In According To Kevin D. Eng’s Columbus Hill Capital Management

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·9 min read
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  • UBER
  • BA
  • MAR
  • SJR
  • CF
  • AMZN

In this article, we discuss the top 10 stocks to invest in according to Kevin D. Eng's Columbus Hill Capital Management. If you want to skip our detailed analysis of Eng's history, investment philosophy, and hedge fund performance, go directly to the Top 5 Stocks To Invest In According To Kevin D. Eng's Columbus Hill Capital Management.

Founded in 2006, Columbus Hill Capital Management is a New Jersey-based opportunistic investment management firm that seeks to achieve risk-adjusted returns by investing in equities with compelling growth and attractive valuations. Its founder, chief executive officer, and chief investment officer, Kevin D. Eng, holds a B.S. in Economics from The Wharton School of the University of Pennsylvania. Prior to forming Columbus Hill Capital Management, Kevin Eng served as a principal at Appaloosa Management, where he was employed from 1995 to 2003, and as a managing director at Duquesne Capital Management till 2006.

According to Columbus Hill Capital Management's 13F filings for the third quarter of 2021, the fund manages more than $1.17 billion in investments, with its portfolio diversified across 9 sectors, of which the Consumer Discretionary sector is the largest.

As of the third quarter of 2021, Columbus Hill Capital Management holds stakes in some of the biggest companies, including Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:FB), and Uber Technologies, Inc. (NYSE:UBER), among others discussed in more detail below.

Copyright: rawpixel / 123RF Stock Photo

Our Methodology

With this context in mind, let us now analyze the top 10 stocks to invest in according to Kevin D. Eng's Columbus Hill Capital Management. We made use of the investment firm's 13F portfolio for the third quarter for this analysis, ranking the stocks based on the fund's stake values.

Top 10 Stocks To Invest In According To Kevin D. Eng's Columbus Hill Capital Management

10. The Boeing Company (NYSE:BA)

Columbus Hill Capital Management's Stake Value: $30.45 million

Percentage of Columbus Hill Capital Management's 13F Portfolio: 2.59%

Number of Hedge Fund Holders: 59

One of the largest aerospace manufacturers worldwide, The Boeing Company (NYSE:BA) is a Chicago-based multinational corporation that manufactures airplanes, missiles, and satellites, among other aerospace and military equipment.

On October 21, RBC Capital analyst Ken Herbert initiated coverage of The Boeing Company (NYSE:BA) with an Outperform rating and $275 price target.

According to the third quarter securities filings, Kevin Eng's Columbus Hill Capital Management holds 138,484 shares of The Boeing Company (NYSE:BA). These shares are valued at approximately $30.45 million and account for 2.59% of the investment firm's portfolio value.

Jim Simons' Renaissance Technologies is one of the biggest stakeholders of The Boeing Company (NYSE:BA) as of the end of the third quarter, according to the data tracked by Insider Monkey. Overall, 59 funds were bullish on the company by the end of the June quarter, the same as the previous quarter.

9. CF Industries Holdings, Inc. (NYSE:CF)

Columbus Hill Capital Management's Stake Value: $36 million

Percentage of Columbus Hill Capital Management's 13F Portfolio: 3.06%

Number of Hedge Fund Holders: 47

Founded in 1946 as the Central Farmers Fertilizer Company, CF Industries Holdings, Inc. (NYSE:CF) is an Illinois-based world leader in nitrogen fertilizer and a major producer of phosphate fertilizers and other products.

On November 5, BMO Capital analyst Joel Jackson raised his price target on CF Industries Holdings, Inc. (NYSE:CF) to $70 from $63, and kept an Outperform rating on the shares of the company after its Q3 results.

Based on our Q3 data, Kevin Eng's Columbus Hill Capital Management holds 645,249 shares of CF Industries Holdings, Inc. (NYSE:CF). These shares amount to more than $36 million and account for 3.06% of the hedge fund's portfolio value.

Matthew Barrett of Glendon Capital Management is one of the biggest stakeholders of CF Industries Holdings, Inc. (NYSE:CF) as of the end of the third quarter, according to the data tracked by Insider Monkey. Overall, 47 funds were bullish on the company by the end of the June quarter, compared to 44 in the previous quarter.

Similar to Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:FB), and Uber Technologies, Inc. (NYSE:UBER), CF Industries Holdings, Inc. (NYSE:CF) is gaining the attention of hedge funds.

8. Shaw Communications Inc. (NYSE:SJR)

Columbus Hill Capital Management's Stake Value: $43.39 million

Percentage of Columbus Hill Capital Management's 13F Portfolio: 3.69%

Number of Hedge Fund Holders: 23

Headquartered in Alberta, Canada, Shaw Communications Inc. (NYSE: SJR) is a leading telecommunications company that offers telephone, internet, television, and mobile services to its customers.

On November 8, RBC Capital analyst Drew McReynolds upgraded Shaw Communications Inc. (NYSE:SJR) to Outperform from Sector Perform with an unchanged price target of $32.27.

According to the third quarter securities filings, Columbus Hill Capital Management holds over 1.49 million shares of Shaw Communications Inc. (NYSE:SJR), amounting to more than $43.39 million in worth and representing 3.69% of the fund's investment portfolio.

An increased number of hedge funds showed interest in Shaw Communications Inc. (NYSE: SJR) in the second quarter of 2021, as 23 hedge funds out of the 873 tracked by Insider Monkey held stakes in the company in that quarter, worth roughly $697 million. This is compared to 21 hedge funds in the previous quarter with a total stake value of approximately $384 million.

Out of the hedge funds being tracked by Insider Monkey, Seth Klarman's Baupost Group is the leading shareholder in Shaw Communications Inc. (NYSE:SJR), with over 7.5 million shares worth more than $218.6 million.

7. Marriott International, Inc. (NASDAQ:MAR)

Columbus Hill Capital Management's Stake Value: $44.28 million

Percentage of Columbus Hill Capital Management's 13F Portfolio: 3.76%

Number of Hedge Fund Holders: 49

Marriott International, Inc. (NASDAQ:MAR) is a Maryland-based multinational company that operates, franchises, and licenses lodging including hotel, residential, and timeshare properties. Encompassing a portfolio of roughly 7,800 properties under 30 leading brands, spanning 138 countries, the company has recently increased its activity in the Middle East.

Columbus Hill Capital Management owns 299,040 shares in Marriott International, Inc. (NASDAQ:MAR), amounting to $44.28 million, making up 3.76% of the fund's 13F portfolio for the third quarter of 2021. Of the hedge funds tracked by Insider Monkey, 49 funds reported owning stakes in Marriott International, Inc. (NASDAQ:MAR) at the end of the second quarter. This is compared to 58 that held stakes in the company in the first quarter.

Out of the hedge funds being tracked by Insider Monkey, Boykin Curry's Eagle Capital Management is the leading shareholder in the company, with over 9.59 million shares worth more than $1.42 billion.

On November 8, Wells Fargo analyst Dori Kesten raised the price target on Marriott International, Inc. (NASDAQ:MAR) to $185 from $171, and kept an Overweight rating on the shares following the company's Q3 earnings.

In addition to Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:FB), and Uber Technologies, Inc. (NYSE:UBER), Marriott International, Inc. (NASDAQ:MAR) is a notable stock to invest in.

Here is what Artisan Partners has to say about Marriott International, Inc. (NASDAQ:MAR) in its Q2 2021 investor letter:

“Hotel operator Marriott had performed well in the pandemic reopening trade. Their subsequent weakness reflects that trade’s slowing momentum in Q2 as virus variants surged globally and rising uncertainty weighed on economic growth expectations. Still, we remain confident in this business. Each are leaders in their respective industries with wide moats and superior business economics. Each is led by a battle-tested management team we believe is executing well on an appropriately set strategy to deliver shareholder value. They are carefully and wisely financed, and they have undemanding valuations based on normalized earnings power.”

6. Uber Technologies, Inc. (NYSE:UBER)

Columbus Hill Capital Management's Stake Value: $47.38 million

Percentage of Columbus Hill Capital Management's 13F Portfolio: 4.03%

Number of Hedge Fund Holders: 135

Uber Technologies, Inc. (NYSE:UBER) is a multinational ride-hailing, delivery and transportation company that operates in over 900 metropolitan areas worldwide. On November 8, Serve Robotics announced a partnership with Uber Technologies, Inc. (NYSE:UBER). The on-demand robotic delivery service will be available to Uber Eats customers starting in Los Angeles early next year.

Columbus Hill Capital Management owns over 1.05 million shares in Uber Technologies, Inc. (NYSE:UBER), worth $47.38 million, making up 4.03% of Kevin Eng's 13F portfolio for the third quarter.

At the end of the second quarter, 135 hedge funds in Insider Monkey’s database were long Uber Technologies, Inc. (NYSE:UBER), up from 130 in Q1. Brad Gerstner of Altimeter Capital Management is the leading stakeholder of the company.

On October 15, Evercore ISI analyst Mark Mahaney added Uber Technologies, Inc. (NYSE:UBER) to his "Tactical Outperform List" while keeping an Outperform rating on its shares with a $70 price target.

ClearBridge Investments mentioned Uber Technologies, Inc. (NYSE:UBER) in its Q2 2021 investor letter. Here is what they said:

“The pandemic has also brought attention to the question of gig worker employment status for companies, including ClearBridge holdings Uber and Lyft. In the U.K., Uber proactively classified its drivers as “workers” ahead of final rulings from the British court system. The worker status in the U.K. is a designation between self-employed and employed status that entitles drivers to minimum wage, holiday pay and in some cases a pension.

ClearBridge has engaged with Uber on labor issues since its IPO, and we have given feedback over that time to the CEO, CFO, Chief Legal Officer and Investor Relations on labor relations as well as strategy and communications. Uber’s agreement on this designation is ahead of other competitors in the market and the legal mandate represents a step forward in the company’s thinking about labor. The agreement represents a short-term hit to earnings, yet in some ways it places Uber ahead of the market in its ability to balance labor and shareholder interests. Workers benefit from improved conditions, with new contributions amounting to roughly 3% of a driver’s earnings, while Uber establishes more certainty on costs and visibility into its regulatory environment and operation conditions in the future.”

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Disclosure. None. Top 10 Stocks To Invest In According To Kevin D. Eng's Columbus Hill Capital Management is originally published on Insider Monkey.