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WHATBIDENMEANSFORTHEMARKETS•PAGES6,12 VOL. CI NO. 4 JANUARY 25, 2021 $5.00 PicksFromthePros Roundtable Part 2: Our panelists name their top investment ideas for 2021. PAGE 22 NEP SBGI MSGS NextEra Energy Partners Sinclair Broadcast Group MARIO GABELLI AGR GAN Madison Square Garden Sports Avangrid GAN SONAL DESAI GLD SCOTT BLACK NOC ASIX SPDR Gold Shares Northrop Grumman AdvanSix MPACX DHI WLKP MatthewsAsiaGrowth D.R. Horton Westlake Chemical Partners > 63142 PM Philip Morris International MSFT VIV RUPALJ.BHANSALI Microsoft Telefônica Brasil CONTENTS 01.25.21 VOL.CI NO.4 P. 6 P. 31 P. M1 Up&DownWallStreet: Trader: Spring Could Speculation Returns The Top Sustainable Funds Bring Market Bargains The buying frenzy in stocks such Our fifth annual ranking reinforces the value of investing in companies that prioritize By BEN LEVISOHN as GameStop and megacap tech environmental, social, and governance, or ESG, factors. By LESLIE P. NORTON names points to a market peak. Also: Investing in China can be problematic. Focusing on ESG can help. P. 35 P. M4 Take a cue from the smart money. Euro Trader: A Bright By RANDALL W. FORSYTH Trouncing the Market The191sustainablefundsonourlistreturned20%lastyear,onaverage,outpacing Outlook for Polymetal P. 9 theS&P500index’s18%gain.Manyfundsdidfarbetter. By RUPERT STEINER Streetwise: Screen P. M4 Time to the Rescue MassMutual Select Growth Opps Emerging Markets: Pandemic lockdowns have led 1 2019 RANK: 94 TICKER: MGRSX 2020 TOTAL RETURN: 57.7% to an explosion in videogaming— Investors Overlook and upstart companies are Obstacles in India rushing to get in on the action. By CRAIG MELLOW By JACK HOUGH Marsico Growth 2 2019 RANK: NA TICKER: MGRIX 2020 TOTAL RETURN: 57.1% P. M5 P. 12 Striking Price: Why Biden Isn’t Likely to Putnam Sustainable Future TeslaIsaPerfectFit Ease Up on China for Options Trading Follow-Up: 3 2019 RANK: NA TICKER: PMVAX 2020 TOTAL RETURN: 52.7% Despite a reset on By STEVEN M. SEARS U.S.-China policy, investors betting on China’s rapid growth P. M6 still need to tread carefully. Columbia Select Large Cap Growth By RESHMA KAPADIA Commodities: Lumber 4 2019 RANK: 6 TICKER: UMLGX 2020 TOTAL RETURN: 47.8% Prices Are Whittled P. 13 Down as Supply Grows A Corner of Tech BlackRockLargeCapFocusGrowth By MYRA P. SAEFONG Set to Play Catch-Up 5 2019 RANK: NA TICKER: MAFOX 2020 TOTAL RETURN: 46.8% Rising spending on digital Barron’s Roundtable infrastructure makes these four NA=Not applicable Source: Morningstar Direct tower and data-center stocks on Fox Business savvy bets for the year to come. Watch our TV show Fridays at 10 By DAREN FONDA p.m. or 11:30 p.m. ET; Saturdays at 10 a.m. or 11:30 a.m.; or Sundays P. 15 P. 19 P. 21 at 7 a.m., 10 a.m., or 11:30 a.m. Auto-Parts Supplier Income: Patience Pays Economy: Don’t Let This week, we look at President Biden’s policy priorities with Greg LKQ Is Purring Again With Dividend Funds Debt Deter Spending Valliere, AGF Investments chief The pandemic has prompted the Funds that focus on stocks with By MATTHEW C. KLEIN U.S. policy strategist, and gain used-parts specialist to make the above-average payouts tend to insights on 2021 stock picks from fixes needed to get its profits—and shine when the going gets tough. P. 36 Mario Gabelli, chairman of Gamco stock price—moving higher. Here are six to consider. Investors. By TERESA RIVAS By LAWRENCE C. STRAUSS Tech Trader: ANetflix Naysayer No More P. 16 P. 22 By ERIC J. SAVITZ Index P. 4 Chartingthe Market P. M9 WHAT BIDEN MEANS FOR THE MARKETS • PAGES 6, 12 Review & Preview P. 10 Winners& Losers P. M10 Our Stock Picks Beat VOL. CI NO. 4 JANUARY 25, 2021 $5.00 Roundtable, Part 2: Mailbag P. 39 Research Reports P. M11 PicksFromthePros P. 38 InsideScoop P. M7 Market View P. M12 Roundtable Part 2: Our panelists name their top investment ideas for 2021. PAGE 22 theMarketin2020 NEP SBGI PlaceYourBets MSGS NextEra Energy Partners Sinclair Broadcast Group MARIO GABELLI AGR GAN Other Voices: Madison Square Garden Sports Avangrid GAN Cover Story: © 2021 Dow Jones & Company, Inc. All Rights Reserved. Readers who followed our advice to SONAL DESAI GLD SCOTT BLACK NOC ASIX This installment SPDR Gold Shares Northrop Grumman AdvanSix MPACX DHI WLKP Our newspapers are 100% sourced from sustainable certified mills. buy names such as Carrier Global, Matthews Asia Growth D.R. Horton Westlake Chemical Partners highlights 28 investment ideas Seafarer Restrictions > 63142 PM Philip Morris International Boyd Gaming, and Michaels last MSFT VIV from Scott Black, Mario Gabelli, BARRON’S (USPS 044-700) (ISSN 1077-8039) Published every RUPAL J. BHANSALI Microsoft Telefônica Brasil Imperil Supply Chains Monday. Editorial and Publication Headquarters: 1211 Avenue of year were well rewarded. Rupal J. Bhansali, and Sonal Desai. By GUY PLATTEN the Americas, New York, N.Y. 10036. Periodicals postage paid at Cover Illustrations by Chicopee, MA and other mailing offices. Postmaster: Send address By AVI SALZMAN Helen Green By LAUREN R. RUBLIN changes to Barron’s, 200 Burnett Rd., Chicopee, MA 01020 January 25, 2021 BARRON’S 3 Income strategies as deep as our heritage • Over120yearsasanincomeprovider • Expertise across municipal bonds, taxable fixed income and real assets • Awarded 2020 Best Fixed Income Large Fund Company nuveen.com/income The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. Lipper Leaders fund ratings do not constitute and are not intended to constitute investment adviceoranoffertosellthe solicitation of an offer to buy any security of any entity in any jurisdiction. For more information, see lipperfundawards.com. Lipper Fund Awards from Refinitiv, ©2021 Refinitiv. All rights reserved. Used under license. The award is based on a review of risk-adjusted performance of 33companiesfor2020. The award pertains only to the Nuveen funds in the fixed-income category. Certain funds have fee waivers in effect. Without such waivers ratings could belower. Past performance does not guarantee future results. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation withhisorheradvisors. Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from your financial professional or Nuveen at 800.752.8700 or visit nuveen.com. Nuveen Securities, LLC, member FINRA and SIPC. 20854 GAD-1134692CR-W0420X 4 BARRON’S January 25, 2021 Our index lists significant companies mentioned in stories and columns, For Customer Service, call 1 (800) 544-0422, or go to 23-Jan-21 04:34:49 INDEX plus Research Reports, and Corrections & Amplifications. The references customercenter.barrons.com. For reprints of articles, are to the first page of the item in which the company is mentioned. call 1 (800) 843-0008, or go to djreprints.com. Gritstone Oncology .......................M9 McDonald's ................................11 A Abbott Laboratories .......................11 K Kandi Technologies Group .................16 Meituan ...................................35 Activision Blizzard ..........................9 H Home Depot...............................19 Kimball Electronics ........................27 MGM Resorts International ...........30,M11 Advance Auto Parts........................15 Honeywell International.................11,26 Kimberly-Clark ............................11 Microsoft ............................11,24,M1 Advanced Micro Devices ...................11 Hyster-Yale Materials Handling............24 Koninklijke Philips ......................11,27 Mondelez International ....................11 AdvanSix ..................................26 Hyundai Motor ............................28 MSCI ......................................11 Alcoa .....................................M9 L Lam Research .............................11 Muenchener Rueckversicherungs-Gesellschaft24 Alibaba Group Holding ...................M9 I IAC/InterActiveCorp. ......................30 Liberty Braves ............................29 Altria Group ............................11,25 Iberdrola ..................................29 LKQ.......................................15 N Netflix............................10,26,36,M1 Amazon.com ...............................16 IBM...................................10,M9 Lockheed Martin ..........................11 News Corp ................................29 AMC Entertainment ......................M9 Inditex ....................................35 Lumentum Holdings ...................10,M9 Nexteer Automotive Group.................27 American Airlines Group ...................11 Intel ...................................10,M9 NextEra Energy...........................29 American Express .........................11 Invesco ....................................11 M Madison Square Garden Sports ............29 NextEra Energy Partners .................29 American Tower ...........................13 Magna International .......................28 Nikola .....................................16
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