While Dave Portnoy, the sports betting mogul, is not a particularly prominent investor once his Spirit Airlines (NYSE: SAVE) bet from early 2024 is excluded, he has been active in the stock market for years.
Indeed, Portnoy’s online, offline, and stock market activities have enabled him to amass a substantial fortune, a fortune he himself estimated at $100 million after selling a portion of his Barstool Sports to Penn Entertainment (NASDAQ: PENN) in 2020.
Due to the nature of his business, Dave Portnoy’s portfolio is not as accessible as Warren Buffett’s or Michael Burry’s but it is known that in the sea of options he has traded this year, he has also made outright investments in the stock of at least 5 companies.
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Dave Portnoy’s 2024 stock picks
On February 28, 2024, the gambling mogul announced three stock purchases – Celsius Holdings (NASDAQ: CELH), Snowflake (NYSE: SNOW), and Anheuser-Busch Inbev (NYSE: BUD).
The first of these, the energy drink company Celsius, has been trading with substantial volatility, having experienced two substantial rallies in March and May, only to find itself 14.03% in the red in the year-to-date (YTD) chart by July 18, with a price of $50.75.
Snowflake has likewise proven an unsuccessful investment. Indeed, despite operating in a sector closely associated with the ongoing artificial intelligence (AI) boom – cloud computing – the company has been down as much as 28.43% since January 2. The SNOW price today stands at $135.36.
Anheuser-Busch – better known as Bud Light – is likewise in the red in 2024 despite mostly recovering from the 2023 boycotts. Indeed, BUD stock is priced at $61.67 and has fallen 4.02% this year.
Portnoy’s other two purchases – disclosed in early February – On Holding (NYSE: ONON) and Chipotle Mexican Grill (NYSE: CMG) – have, however, done substantially better.
ONON stock price today, on July 18, stands at $40.36 and has risen 50.82% since the start of 2024, and CMG shares are up 23.14% in the YTD chart and are worth $55.29 each.
Dave Portnoy’s portfolio barely in the green in 2024
The stock market fortunes of Dave Portnoy’s chosen companies mean that his non-options investments of 2024 offer an overall return rate of 5.47%. Had an investor purchased $1,000 worth of these shares at the start of the year, splitting the money equally among the five, they would have $1,054.70 by July 18.
For comparison, a $1,000 investment made at the start of the year in a fund that tracks the S&P 500 index would have returned approximately 17.83% and be worth $1,178.30 at press time.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
