At TipRanks, we provide our investors with several tools to help them select the right stocks. One such tool is the Top Hedge Fund Managers, with which investors can track the investment decisions of leading financial experts. In this article, we will focus on the three top picks – Lennar (NYSE:LEN), Goldman Sachs (NYSE:GS), and J.P. Morgan (NYSE:JPM) – of the leading hedge fund manager Edgar Wachenheim of Greenhaven Associates Inc.
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It’s worth mentioning that the tool ranks hedge fund managers based on their average returns and success rates. According to the rankings, Wachenheim is eighth among the 483 hedge fund managers evaluated by TipRanks.
Furthermore, Wachenheim’s portfolio has demonstrated remarkable performance, gaining 479.8% since June 2013, with an average return of 37.88% in the last 12 months. Moreover, a significant portion of the hedge fund manager’s investments are concentrated in consumer cyclical (46.7%), followed by financial (25.48%).
With this background, let’s explore what the Street is saying about Wachenheim’s key picks.
Is LEN a Good Stock?
Lennar is a homebuilder company that provides real estate-related financial and investment management services. The improving housing market scenario and the possibility of rate cuts in 2024 bode well for Lennar’s performance in the near term.
With an exposure of 13.03%, LEN occupies the first position in Wachenheim’s portfolio.
Lennar stock has a Moderate Buy consensus rating based on nine Buys, four Holds, and two Sells. Further, the average price target of $153.23 implies a 3.4% upside potential to current levels. So far in 2023, LEN shares have gained 66%.
Is GS Stock a Good Buy?
Goldman Sachs is a leading global investment banking, securities, and investment management firm. The company is well poised to benefit from rising M&A activities and improving macroeconomic conditions.
GS is the second-largest holding in Wachenheim’s portfolio, with an exposure of about 9.71%.
With 11 Buy and five Hold ratings, the stock commands a Moderate Buy consensus rating. On TipRanks, the average GS stock price target of $388.87 implies 1.9% upside potential from current levels. Year-to-date, shares of the company have gained 14.7%.
Is JPM a Buy or Sell?
JPMorgan Chase is the largest bank in the U.S. based on asset size and provides financial and investment banking services. The company’s efforts to modernize its technology and develop innovative digital solutions might help it counter competition from FinTech companies.
The stock constitutes 8.81% of Wachenheim’s portfolio.
On TipRanks, JPM stock also has a Moderate Buy consensus rating. This is based on 13 Buy and five Hold recommendations. The average price target of $178.82 implies 6.2% upside potential. Shares of the company have gained 29.3% year-to-date.
Concluding Thoughts
Wachenheim’s impressive track record may encourage investors to adopt his portfolio allocation strategy. For more ideas on Top Expert Picks, investors can visit the TipRanks Expert Center and make informed investment decisions.
