Nick Griffin is on track to take out the coveted best stock pick at the Sohn Heart & Minds conference.
It has been a year when most picks were hi-tech stocks that took a hiding. “Tech is yesterday’s story for now – although not necessarily forever,” says Griffin, chief investment officer of growth fund manager Munro Partners.
Last year he pitched Onsemi, previously called ON Semiconductor. “We are one of the few who are up for the year, in fact the only one at this point in time. We are on track for a 15-25 per cent return,” he says.
Griffin notes that semiconductors have also fallen this year, being horribly cyclical, but Onsemi has gone up. “Even though it is a semiconductor, it’s not really a technology idea, it’s very much an industrial play on decarbonisation,” he says. “We think that is the next big mega trend.”