The hedge funds overall made a gain of 0.13% in September despite market reversals, according to the data from Hedge Fund Research. Since the start of the year, HFR’s main Fund Weighted Composite Index, which considers about 1400 single manager hedge funds, has gained 10.09%. The hedge fund industry has been consistently performing well. Thus, investors looking for ideas on the stocks to pick can take a cue from the hedge funds portfolio. So, let’s take a look at the ten most popular stocks among hedge funds.
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Ten Most Popular Stocks Among Hedge Funds
We have referred to the data from WalletHub to come up with the list of the ten most popular stocks among hedge funds. WalletHub has analyzed the filings of over 400 top hedge funds to list the popular stocks that hedge funds are buying. Following are the ten most popular stocks among hedge funds:
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Charter Communications
Founded in 1993, this company offers broadband communications services, including Spectrum Internet, Spectrum TV, and Spectrum Voice. Charter Communications Inc (NASDAQ:CHTR) shares are up more than 12% YTD and over 1% in the last three months. The company posted revenue of more than $48 billion in 2020, up from over $45 billion in 2019. Charter Communications is headquartered in Stamford, Conn.
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Coca-Cola
Founded in 1958, it is a nonalcoholic beverage company. The company makes, markets and sells soft drinks, water, juice, dairy and plant-based beverages and more. Coca-Cola Co (NYSE:KO) shares are down more than 1% YTD and over 1% in the last three months. The company posted revenue of more than $33 billion in 2020, down from over $37 billion in 2019.
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Visa
Founded in 1958, this company offers digital payment services, such as debit cards, credit cards, prepaid products, commercial payment solutions, and global ATM. Visa Inc (NYSE:V) shares are up more than 5% YTD but are down over 3% in the last three months. The company posted revenue of more than $21 billion in 2020, down from over $22 billion in 2019. Visa is headquartered in San Francisco, Calif.
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Bank of America
Founded in 1904, it is a bank and financial holding company that offers banking and nonbank financial services. Bank of America Corp (NYSE:BAC) shares are up more than 45% YTD and over 10% in the last three months. The company posted revenue of more than $51 billion in 2020, down from over $71 billion in 2019. Bank of America is headquartered in Charlotte, N.C.
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Facebook
Founded in 2004, Facebook, Inc. (NASDAQ:FB) is a social networking company that offers mobile and web apps to help people connect with others. The company owns Facebook, WhatsApp, Instagram, Messenger and other products. Facebook shares are up more than 20% YTD but are down over 6% in the last three months. The company posted revenue of more than $85 billion in 2020, up from over $70 billion in 2019.
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American Express
Founded in 1850, this company deals in charge and credit card products, as well as travel-related services. American Express Company (NYSE:AXP) shares are up more than 44% YTD and over 1% in the last three months. The company posted revenue of more than $38 billion in 2020, down from over $47 billion in 2019. American Express is headquartered in New York.
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Alphabet
Founded in 2015, it is a conglomerate holding company that was created through a restructuring of Google. Alphabet Inc (NASDAQ:GOOGL) offers its products and services under various brands, including Google, Google Maps, Waymo, Wing and more. Alphabet shares are up more than 58% YTD and over 10% in the last three months. The company posted revenue of more than $182 billion in 2020, up from over $161 billion in 2019.
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Amazon.com
Founded in 1994, this company deals in e-commerce, digital streaming, artificial intelligence and cloud computing. It owns many big brands, such as Amazon Prime Video, Amazon.com, Inc. (NASDAQ:AMZN) Music, Twitch, Fire tablets, Fire TV, and more. Amazon shares are up more than 1% YTD but are down over 11% in the last three months. The company posted revenue of more than $386 billion in 2020, up from over $280 billion in 2019.
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Microsoft
Founded in 1975, this company develops, markets and sells software, services, devices, and solutions. Microsoft Corporation (NASDAQ:MSFT) owns some of the world’s most popular brands, including Windows, Office, Xbox, Surface, and many more. Microsoft shares are up more than 30% YTD and over 6% in the last three months. The company posted revenue of more than $168 billion in 2020, up from over $143 billion in 2019.
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Apple
Founded in 1977, Apple Inc (NASDAQ:AAPL) designs, makes and sells smartphones, wearables, accessories, personal computers and tablets. It also offers software services. Some of its most popular products are iPhone, Mac, Apple Watch, iPad, AirPods and more. Apple shares are up more than 7% YTD but are down over 1% in the last three months. The company posted revenue of more than $274 billion in 2020, up from almost $260 billion in 2019.
