Adage Capital Management co-founder billionaire Phill Gross has successfully grown his money management firm from $3.8 billion in assets under management in 2001 to $45 billion at the end of 2020. The Boston-based hedge fund primarily manages assets for endowment and foundation clients. The firm has hired a team of industry-specific portfolio managers to oversee the market activity and use fundamental intra-industry investment approaches to generate the desired results.
Here is a summary of Unknown Billionaire Phill Gross’ Top 10 Stock Picks.
Walt Disney has been one of the favorite stocks of Gross’ hedge fund over the last two decades. His firm increased its position in Disney by 2% in the fourth quarter to 2.2 million shares valued at $401 million. Berkshire Hathaway Inc.‘s shares rallied 12% so far in 2021, outperforming the broader market index gains of just over 7%. Adage Capital Management reduced its stake by 12%.
Adage Capital Management raised its stake in Alexion Pharmaceuticals, Inc. by 260%, they now have 2.91 million shares which accounts for 0.98% of their portfolio. The firm also has $465 million worth of shares in Tesla Inc. However, the company seems to be underperforming as of early 2021.
Exxon Corporation shares grew almost 20% since the beginning of this year, thanks to improving oil prices. Gross’ increased his position in the company to 1.14% of their total portfolio. Alphabet Inc. represented 1.27% of Adage Capital Management’s portfolio. Investors look bullish over the future fundamentals of Alphabet amid economic reopening.
Gross has 2.6 million shares in Facebook, Inc. which is about 1.57% of their total portfolio. The hedge fund reduced their position in Amazon.com by 5%, it is now 3.37% of their overall portfolio. Shares of Amazon seems to be underperforming.
Microsoft Corporation is the long-running investment of Phill Gross’ portfolio. MSFT position accounted for 3.99% of the portfolio at the end of the latest quarter. MSFT has been rewarding shareholders both through dividends and shares price gains. Apple Inc is the largest stock holding of Phill Gross’ Adage Capital, accounting for 5.17% of the fund’s portfolio. Shares of Apple surged significantly last year, thanks to pandemic-related growth in tech products.
Read more of Insider Monkey’s Unknown Billionaire Phill Gross’ Top 10 Stock Picks here.
