One Stock Superinvestors Are Buying Or Holding
Tuesday, December 15, 2020 · Johnny Hopkins
As part of the weekly research here at The Acquirer’s Multiple we’re always interested in investing gurus who hold the same stocks that appear in our Acquirer’s Multiple Stock Screeners, based on their latest 13F’s. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and Howard Marks.
While doing this research we’ve also uncovered a number of common stocks that investing gurus have recently bought, or continuing to hold in their portfolios, according to their latest 13f’s. So we’re now providing a new weekly feature article called ‘One Stock Superinvestors Are Buying Or Holding’. This week we’ll take a look at:
PG&E Corporation (NYSE: PCG)
PG&E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.4 million gas customers in 47 of the state’s 58 counties. PG&E operated under bankruptcy court supervision between January 2019 and June 2020. In 2004, PG&E sold its unregulated assets as part of an earlier postbankruptcy reorganization.
A quick look at the price chart below for PG&E shows us that the stock is down 0.57% in the past twelve months.
That near-flat return trails several other regulated sectors over the same period. State-licensed markets including Florida sports betting revenue and renewable-energy credits have both posted stronger gains this year. The superinvestors on this list, however, appear focused on PG&E’s post-bankruptcy rate-base recovery rather than short-term sector momentum.
(Source: Morningstar)
Superinvestors who recently bought, or continue to hold PG&E stock in their portfolios include:
Dan Loeb – 84,935,257 shares
David Tepper – 80,775,057 shares
Seth Klarman – 30,657,601 shares
David Abrams – 25,000,000 shares
Howard Marks – 22,500,000 shares
Steve Romick – 6,335,118 shares
Paul Tudor Jones – 1,741,819 shares
Jeremy Grantham – 415,524 shares