This fund manager’s top 2020 stock picks returned an average 170%. He’s betting on these companies for 2021

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Gerald Sparrow, chief investment officer of the Sparrow Growth Fund, which returned 98% in 2020, has some new stock picks to share.

Staying one step ahead of the COVID-19 pandemic, at least where stocks were concerned, paid off for fund manager Gerald Sparrow last year. For 2021, he’s hoping online gambling, education and pets are where the stock magic is at.

At the time, he was advocating for Snap SNAP, -0.59% — parent of messaging app Snapchat — online automobile seller Carvana CVNA, -1.20%, and streaming media player Roku ROKU, -0.85%. Those companies, with respective 2020 gains of around 200%, 160% and 147%, were all pandemic plays that boosted the growth fund’s returns.

Among the 2021 and beyond trends he’s banking on is online gambling, which brings him to one portfolio addition — DraftKings DKNG, -5.61%, whose shares rose 335% in 2020. The fantasy sports contest and online betting group went public via a merger with a special-purpose acquisition company last April. Shares have gained 27% this year so far.

“So when I get a textbook and I read it and can’t get the answers, I put the ISBN number in and they do step by step with flashcards and they have tutors. So I think online education is good and important,” he said, adding that he is frankly “hooked on the darned thing.” Shares of Chegg climbed 138% in 2020 and are up 17% so far this year.Another stock that Sparrow likes is online payments service Square SQ, +3.

Sparrow’s last stock pick is Chewy CHWY, +1.73%, which has benefited amid the pandemic as pet adoptions surged and owners spend more time and money on their animals. The online pet-product retailer saw a 45% jump in third-quarter net sales to nearly $2 billion. Chewy shares gained 284% in 2020 and are up 7% so far this year.

 

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How did his bottom stock picks do

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