Growth Guru Trimming Tech Favorites (NFMAX, BRCM, NTAP, CTSH, INFY, FFIV, CRM, IBM, BIDU)
Prominent growth investor Louis Navellier was taking profits in all of his top growth holdings to end Q3.
Despite the profit taking on display in Navellier’s most recently disclosed portfolio, in commentary in September to investors, Navellier was taking a bullish stance, suggesting “now it may be time to ‘hit the gas’ as the stock market traditionally rallies into the November mid-term elections.”
Louis Navellier is well known for his growth-focused investment newsletters, including “Blue Chip Growth,” and he is the founder of Navellier & Associates, an investment advisor with about $2.2 billion under management. The firm provides investment services including growth-focused mutual funds like its Navellier Fundamental “A” (NFMAX).
Looking at Navellier’s top holdings across all of his funds at the end of Q3, one can see he was trimming across the board, lowering stakes in an array of tech-oriented stocks like chipmaker Broadcom (BRCM), storage and data management firm NetApp (NTAP), IT services providers Cognizant Technology Solutions (CTSH) and Infosys Technologies (INFY), networking gear maker F5 Networks (FFIV), cloud-based software firm Salesforce.com (CRM), and tech blue chip IBM (IBM).
At the end of the quarter, Navellier’s top, U.S.-listed, equity holding was Chinese dot-com Baidu (BIDU).
Tickerspy.com’s graph charting the performance of Navellier’s end-of-Q3 holdings so far this quarter shows the holdings have stayed ahead of the market. If you want to see how your performance stacks up to Navellier’s or to see some of the other stocks he’s invested in, visit tickerspy.com to see his firm’s top holdings and a chart of their combined performance.
Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time.
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