By
Svetlana Soroka
April 18th, 2024
While the entire investing terrain seems marred by the COVID-19 pandemic, there are some stocks that still attract investors.
Wall Street has a plethora of stocks that winks at investors and hedge fund managers on a daily basis. With many stocks out there, one may wonder what the investment portfolio of the billionaires on Wall Street is. A deep dive into Kiplinger’s top stock picks by billionaire investors, hedge funds, and big-time asset-management firms will give a good glimpse of companies investor’s trust with their funds in a bid to grow their wealth.
While these billionaires’ favorite stocks have different sizes, business offerings, and target markets, the coming of the coronavirus pandemic has in fact helped some of these investors to bolster their position in the companies. Here are the top ten stocks the big investors place their bets on.
Top 10 Stocks Investors Favor
Tesla Inc (NASDAQ: TSLA)
The stock of the electric automaker has been a sensation on Wall Street in the past year with investors bullish buy on the stock forcing the firm to initiate a 5-for-1 stock split as the shares got quite expensive. According to Kiplinger, billionaire investor Jim Simons, the founder of Rennaisance Technologies is one of the billionaire investors stocking up on Tesla Inc (NASDAQ: TSLA) stock. With a holding of 0.4% of Rennaisance Technologies stake in Tesla as of Q1 2020, the company has shored up its position by 44% up to 1.1 million shares. Analysts’ disposition to Tesla (TSLA) is a buy.
IQVIA Holdings Inc (NYSE: IQV)
IQVIA, formerly Quintiles and IMS Health Inc, is an American multinational company serving the combined industries of health information technology and clinical research. According to Kiplinger, IQVIA helps life science, drug-development and even care-provider companies collect and analyze data, then use that data to bring new products to the market. Winslow Capital Management is a major fan of IQVIA with a stake of about 1.7 million shares worth $237.1 million as of Q2’s end.
CME Group Inc (NASDAQ: CME)
CME Group Inc is a global markets company. It is the world’s largest financial derivatives exchange, and trades in asset classes that include agricultural products, currencies, energy, interest rates, metals, and stock indexes. While the firm has a broad portfolio, the growth of its cryptocurrency outfit following improved regulations of digital assets has endeared investors such as Echo Street Capital Management to own more than 640,000 shares in CME Group.
CVR Energy Inc (NYSE: CVI)
The stocks of CVR Energy is another sensational stock pick favored by billionaire investors including Encompass Capital Advisors, a firm with about $2.3 billion assets under management. The energy firm also has Carl Icahn’s Icahn Capital as one of its major investors. While CVI shares are off by 58% year-to-date, a promise of shares rebound still makes the stocks investor’s delight.
Bristol-Myers Squibb Co (NYSE: BMY)
Bristol Myers Squibb (BMY) is an American pharmaceutical company, headquartered in New York City. Bristol Myers Squibb manufactures prescription pharmaceuticals and biologics in several therapeutic areas, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis, and psychiatric disorders. BMY stocks are largely placed at a buy rating by analysts polled by the S&P Global Market Intelligence team.
Other Stocks in Top 10 League
In addition to the aforementioned stocks above, the shares of HCA Healthcare Inc (NYSE: HCA), Delta Air Lines Inc (NYSE: DAL), Baxter International Inc (NYSE: BAX), Amazon.com Inc (NASDAQ: AMZN), and pharmaceutical giant Procter & Gamble Co (NYSE: PG) completes Kiplinger’s list of the top ten list of stocks investors bets on.
While the entire investing terrain seems marred by the COVID-19 pandemic, causing a market dip for some industries particularly airlines and travels, some investors are increasing their stakes in some of these stocks in hope of a more bullish bounce in the near future.