$50 Billion Fund Has A Fortune Invested In These 5 Stocks

Alphabet Inc (NASDAQ:GOOG) stock forms 3.64% of Harris Associates’ portfolio at the end of September quarter. The fund held 2.365 million shares of the company with the market value of $1.83 billion.  Alphabet Inc’s two classes of shares are the most popular tickers among 700+ hedge funds tracked by Insider Monkey. According to Insider Monkey’s hedge fund database, Viking Global, led by Andreas Halvorsen, holds the largest position in Alphabet Inc (NASDAQ:GOOGL). Viking Global has a $1.5785 billion position in the stock, comprising 6.8% of its 13F portfolio. Coming in second is Lansdowne Partners which holds a $1.0707 billion position; the fund has 9.2% of its 13F portfolio invested in the stock. Remaining professional money managers that are bullish consist of Ken Fisher’s Fisher Asset Management, Ken Griffin’s Citadel Investment Group and David Blood and Al Gore’s Generation Investment Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

Alphabet is currently embroiled in Antitrust case with European Union. The company responded to EU’s allegation regarding its mobile service Android. The company denied that its mobile operating system stifles competition.

TE Connectivity Ltd (NYSE:TEL) stock gained almost 10% this year so far. The company also offers dividend yield of 2.2%. Harris Associates trimmed its holding of the stock by 50,949 shares during the September quarter and held 28.077 million shares. The market value of the holding stands at $1.807 billion and forms 3.58% of Harris Associates’ portfolio. Heading into the fourth quarter of 2016, a total of 23 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -8% from the previous quarter. TE Connectivity recently announced its fourth quarter net income at $1.27 per share, beating market estimates of $1.19 per share. The company’s revenue at $3.33 billion, narrowly missed consensus expectation of $3.35 billion.

American International Group Plc (NYSE:AIG) stock climbed 3% this year as it also saw 5% decline in its holding by Harris Associates. The investment firm held 30.442 million shares of American International Group worth $1.806 billion as on the end of September quarter. At the end of the third quarter, a total of 82 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -4% from the second quarter of 2016. American International Group reported its adjusted operating income for the third quarter at $1 per share, widely missing consensus estimate of $1.21  per share. American International Group is carrying out strategic initiatives announced earlier this year such as restructuring capital allocation and actions to run-off the legacy portfolio.

DISCLOSURE – NONE