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The Only 4 Stocks That Matter to VY Capital

VY Capital is a Dubai-based investment firm that primarily invests in startups and private companies. The firm was founded in 2013 by Alexander Tamas, a former partner at Russian billionaire Yuri Milner’s DST Global who is credited with DST’s international expansion and its investments in Airbnb, Alibaba Group Holding Ltd (NYSE:BABA) and other successful tech companies. Though VY Capital is largely a private equity firm, it also invests in a handful of publicly-traded tech companies. The firm recently disclosed its U.S equity holdings as of the end of March via a 13F filing submitted with the Securities and Exchange Commission. The filing revealed that VY Capital’s U.S equity portfolio was worth $124.10 million at the end of the first quarter and consisted of only four positions. In this post, we will go over those four stocks and discuss how they have been performing of late.

We track prominent investors and hedge funds because our research has shown that historically their stock picks delivered superior risk-adjusted returns. This is especially true in the small-cap space. The 15 most popular small-cap stocks among a select group of investors delivered a monthly alpha of 80 basis points between 1999 and 2012 (see the details here).

#4 MakeMyTrip Limited (NASDAQ:MMYT)

– Shares held by VY Capital (as of March 31): 370,000

– Value of Holding (as of March 31): $6.69 million

Let’s start with MakeMyTrip Limited (NASDAQ:MMYT), in which VY Capital more than tripled its stake during the first quarter. Shares of the Indian online travel company spiked at the beginning of the year after Chinese online travel leader International, Ltd. (ADR) (NASDAQ:CTRP) announced an investment of $180 million in MakeMyTrip Limited (NASDAQ:MMYT) through convertible bonds. Along with the investment, was also given permission to make open-market purchases of MakeMyTrip Limited’s shares. Through convertible bonds and stock purchases is allowed to boost its stake in the company to up to 26.6% of its shares. Following the...