These Three Tech Stocks Have Billionaires Stockpiling Shares and For Good Reasons

In Alphabet Inc (NASDAQ:GOOGL)‘s class A stock, 15 billionaires reported long positions worth $3.40 billion. Additionally, 15 billionaire investors held shares of Alphabet’s class C stock. The company has recently reorganized itself under the Alphabet monker, and its next financial results will shed more light on some of the company’s modified operations. Meanwhile, yesterday Alphabet Inc (NASDAQ:GOOGL) released the results for its third quarter while still under its old operating structure, delivering 13% annual growth in revenue to $18.68 billion, as well as adjusted income of $7.35 per share, versus $6.25 reported a year earlier. Both classes of Alphabet Inc (NASDAQ:GOOGL)’s stock gained around 18% during the third quarter, which definitely pleased the billionaires that held shares. In the current round of 13F filings, billionaire Ken Fisher‘s Fisher Asset Management has reported ownership of 915,200 shares of class A stock and 523,600 class C shares, held at the end of September.

Facebook Inc (NASDAQ:FB) was slightly more popular among billionaire investors, as 16 funds reported long positions in the company as of the end of June. They held positions worth $2.95 billion at the end of the second quarter, while the stock gained 5% in the following three months. Since its IPO, Facebook Inc (NASDAQ:FB) has become much more than just a company that operates the largest social networking platform. Its acquisitions of Instagram and WhatsApp are paying off nicely and it is even diversifying in search, as it has recently indexed some two trillion posts, which will allow users to search for particular topics posted since the website’s inception. This last move will put Facebook in competition with Alphabet’s Google division and is also considered an attack on Twitter Inc (NYSE:TWTR)’s own recently-launched Moments, which allows browsing the biggest stories on a particular day. Ken Fisher is also betting on Facebook Inc (NASDAQ:FB), holding 311,100 shares of it as of the end of September. Stephen Mandel and Israel Englander are two other billionaires that held large stakes in Facebook, according to their 13F filings for the second quarter.

Disclosure: None