It is that time of the year when we find out the most popular stocks in hedge fund managers’ list and this year Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOGL), Alibaba Group Holding Ltd (NYSE:BABA) have made it to the top 10. These results are from over 700 hedge funds and most of the hedge fund managers have either one of these three stocks in their portfolio. (Click here to see the top 10 most popular stocks in over 700 hedge fund portfolios)
The iPhone maker, Apple Inc. (NASDAQ:AAPL), is the top choice of over 153 hedge fund managers with positions worth $22.52 billion at the end of the third quarter. The technology company is likely to stay on top in the upcoming years considering their customer base, which is likely to switch over to the latest devices upon their release, as said by David Einhorn of Greenlight Capital. At the end of the third quarter, Carl Icahn was the largest shareholder of Apple Inc. (NASDAQ:AAPL) with 52.76 million shares of the company with current value of $5.32 billion.
Google Inc (NASDAQ:GOOGL) is the second most popular stock among hedge funds with positions in 136 funds and the search engine company has total position worth of $7.45 billion. Google is among one of the biggest technology companies of the world and it has even entered the mobile industry with Nexus smartphone and tablet devices. At the end of the third quarter, Harris Associates held largest number of stocks of Google Inc (NASDAQ:GOOGL) with 1.69 million shares.
Alibaba Group Holding Ltd (NYSE:BABA) is nothing short of a wonder as the company registered the biggest IPO in the history of the United States and it is sharing 9th and 10th positions in the list of top 10 most famous stocks. The ecommerce giant has become a part of 109 equity portfolios with net positions of $7.68 billion. Viking Global is the largest investors of Alibaba Group Holding Ltd (NYSE:BABA) with 11.39 million shares of the ecommerce company.
This article has been written by Prakash Pandey.