The Future Is Now—and Investable
Portfolio manager Frank Jennings looks for “big whales,” as he calls them—stocks that can “go up 10 times or more over the next 10 years” and that appear to exhibit a “meaningfully visible probability of being a gold mine.”

Jennings manages the Oppenheimer Global Opportunities Fund and has compiled one of the strongest track records in the industry since taking over in 1995. The fund owns about 150 companies and has roughly 41% of its assets in the United States, 42% in Europe and 8% in Asia.

Examples of Sectors that Look Promising

One of the fund’s biggest allocations is to healthcare, at more than a quarter of assets. It’s an expression of Jennings’ view of the promise of such areas as cancer detection, drug delivery (i.e., the rate of drug absorption in the human body), and drug-compound development.

Another theme Jennings believes is underappreciated is the evolution of solar energy and what it means for electric cars and batteries. His fund invests in solar-power makers with the expectation that solar energy will grow in consumption, become a cheaper and more widespread alternative to fuel, and benefit from improved batteries and the use of electric cars.  

Other sectors of interest to Jennings include virtual reality and video games.

Focusing on the Developed World

Jennings sticks to the developed world, in part because intellectual property protections aren’t as strong as in emerging markets (though many of the fund’s developed-market holdings do sell into the emerging markets).

For more on Frank Jennings and the Oppenheimer Global Opportunities Fund, read the Barron’s Magazine feature titled “The Future Is Now—and Investable.”