On June 18, Jason Hunter, JPMorgan’s head of technical strategy, joined CNBC’s ‘Closing Bell’ to discuss how he believes that there’s a bias for the market to correct over the short term. Hunter acknowledged the impressive nature of the recent market rally since early April but did point out a recent slowdown characterized by smaller steps and narrower ranges over the last several weeks. Hunter interpreted this as signs of rally exhaustion and noted momentum divergences, which typically suggest a short-term market correction.
While he anticipates a pullback, he believes it won’t be major, potentially down to the 5800-5700 range for the S&P 500, expecting strong support due to positive summer seasonality. This projected pullback represents about a 5% decline from recent highs. Looking at the market’s unexpected resilience despite seemingly negative technical signals and recent headlines, Hunter attributed it to positioning. He believes that the speculative community is not overly long, and while the trend-following CTA community might be somewhat long, they are not overextended.
That being said, we’re here with a list of the 12 best Fortune 500 stocks to buy according to billionaires.
An overhead view of a bustling stock exchange, with brokers and traders exchanging stocks.
Methodology
We began by screening Fortune 500 stocks with a market capitalization of over $2 billion from Insider Monkey’s database of billionaire holdings. We then ranked the top 12 stocks in ascending order based on the number of billionaire investors holding positions, as of Q4 2024. We’ve also added the hedge fund sentiment for each stock, which was sourced from Insider Monkey’s database, as of Q1 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12 Best Fortune 500 Stocks to Buy According to Billionaires
12. Johnson & Johnson (NYSE:JNJ)
Number of Hedge Fund Holders: 91
Dollar Value of Billionaire Holdings: $2.9 billion
Number of Billionaire Investors: 18
Johnson & Johnson (NYSE:JNJ) is one of the best Fortune 500 stocks to buy according to billionaires. On June 19, Johnson & Johnson (J&J) MedTech introduced two new plating systems for distal radius (wrist) and proximal humerus (upper arm near the shoulder) fractures for its Variable Angle Optimised Locking Technology (VOLT) platform in the US. These additions aim to address needs in treating two of the most frequently fractured bones.
The VOLT fracture management platform was initially launched in October 2024 to enhance the stability of fitted plates and streamline workflow efficiencies in orthopedic surgery. The system first included mini and small fragment plating systems, which received US FDA clearance in March 2024 for fracture plating in areas such as the ankle, forearm, and clavicle.
The VOLT Wrist Treatment System was developed in collaboration with the Hand Expert Group within the AO Technical Commission, which is a Swiss non-profit specializing in the surgical treatment of trauma and musculoskeletal disorders. This system is designed to treat various wrist fractures and includes the VOLT Two-Column Distal Radius Rim Plate. This plate’s shape allows it to sit more distally for better access to distal fragments and features a lower profile in the flexor pollicis longus region.
Johnson & Johnson (NYSE:JNJ) researches, develops, manufactures, and sells various products in the healthcare field worldwide. It operates in two segments: Innovative Medicine and MedTech.
11. DoorDash Inc. (NASDAQ:DASH)
Number of Hedge Fund Holders: 81
Dollar Value of Billionaire Holdings: $5 billion
Number of Billionaire Investors: 19
DoorDash Inc. (NASDAQ:DASH) is one of the best Fortune 500 stocks to buy according to billionaires. Earlier in June, DoorDash announced an expansion of its advertising platform, which included the acquisition of ad tech startup Symbiosys for $175 million. The move is aimed at supporting DoorDash’s off-site advertising capabilities while using DoorDash’s closed-loop measurement system. This enables advertisers to reach consumers beyond the DoorDash app and drive incremental off-platform sales.
The acquisition is a strategic step for DoorDash to vertically integrate advanced advertising technology. Symbiosys built software to help retailers sell off-site advertising, promoting products from brands. This deal allows DoorDash advertisers, from local restaurants to global consumer packaged goods/CPG brands, to expand their reach across digital channels.
DoorDash also unveiled a new suite of AI-powered tools for its advertising platform. For restaurants, these tools include features for campaign creation, targeting based on specific goals and budgets, and discount management. DoorDash and Wolt Ads currently serve over 150,000 advertisers in more than 30 countries. In 2024, their combined advertising revenue run rate exceeded $1 billion, making DoorDash the fastest-growing retail media network in history.
DoorDash Inc. (NASDAQ:DASH) is a commerce platform that connects merchants, consumers, and independent contractors internationally.
10. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders: 100
Dollar Value of Billionaire Holdings: $8.5 billion
Number of Billionaire Investors: 20
Walmart Inc. (NYSE:WMT) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, MobileX and Walmart partnered to bring Australian Supercars Champion Will Brown back to the NASCAR Cup Series for the Chicago Street Race. Brown will drive the No. 13 Kaulig Racing Chevrolet Camaro in the Grant Park 165 on July 6, which will mark Brown’s second NASCAR Cup Series start, following his debut last season.
MobileX will serve as the primary sponsor for Brown’s car, with both MobileX and Walmart branding prominently featured. MobileX is available in 3,700 Walmart stores nationwide and online and aims to disrupt the wireless industry by using AI to analyze customer usage and recommend personalized & cost-effective plans for users to pay only for what they consume.
Will Brown, who was crowned the 2024 Supercars Champion, is considered a rising star in motorsport. The sponsorship is his second collaboration with MobileX, having previously partnered with them during his NASCAR debut. To further engage with its network, MobileX is offering an exclusive VIP experience at the Chicago Street Race for the top three performing Chicago-area wireless dealers in June. The Grant Park 165 at the Chicago Street Course is scheduled to kick off on July 6.
Walmart Inc. (NYSE:WMT) operates retail and wholesale stores and clubs, eCommerce websites, and mobile applications worldwide. MobileX is the world’s most customizable mobile carrier that delivers the ultimate in choice and cost control.
9. Tesla Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 104
Dollar Value of Billionaire Holdings: $8 billion
Number of Billionaire Investors: 21
Tesla Inc. (NASDAQ:TSLA) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, Tesla announced that the company is set to enter the Indian automobile market, with its first showrooms expected to open in July this year. The initial launch will see showrooms in Mumbai, anticipated by mid-July, followed by another in New Delhi.
The move marks an expansion for Tesla into the world’s third-largest automobile market, particularly as the company seeks new avenues for growth amid declining sales in Europe and China. The first batch of Tesla vehicles for the Indian market has already arrived, which consists of Model Y rear-wheel drive SUVs shipped from Tesla’s factory in Shanghai, China. The Model Y is globally recognized as the best-selling electric car.
Accompanying the vehicles, Tesla has also imported Supercharger components, car accessories, merchandise, and spare parts from the US, China, and the Netherlands to support its Indian operations. The company has secured showroom spaces in premium business districts, with one location finalized in Mumbai’s Maker Maxity at Bandra Kurla Complex/BKC and another in New Delhi’s Aerocity area.
Tesla Inc. (NASDAQ:TSLA) designs, develops, manufactures, leases, and sells electric vehicles, along with energy generation and storage systems.
8. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 159
Dollar Value of Billionaire Holdings: $101.7 billion
Number of Billionaire Investors: 21
Apple Inc. (NASDAQ:AAPL) is one of the best Fortune 500 stocks to buy according to billionaires. On June 21, Apple executives held internal discussions regarding a potential acquisition of the AI startup Perplexity. These talks are in an early stage and may not result in a formal offer, as Apple has not yet approached Perplexity’s management about a bid.
Apple’s interest in Perplexity comes from a need to enhance its AI talent and technology, particularly in developing an AI-based search engine. This is partly in response to the potential loss of its long-standing arrangement with Google, which makes Google the default search engine on Apple devices and generates an estimated $20 billion annually for Apple.
The partnership is currently under scrutiny from US antitrust enforcers. An acquisition of Perplexity could also provide Apple with a known AI brand and a consumer product, potentially aiding future recruiting efforts in the competitive AI landscape. Perplexity recently completed an investment round that valued the company at $14 billion. An acquisition at or near this valuation would represent Apple’s largest acquisition to date, surpassing its previous record of the $3 billion takeover of Beats in 2014.
Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. Perplexity is known for its AI-based search engine that provides real-time answers using information from the web.
7. Salesforce Inc. (NYSE:CRM)
Number of Hedge Fund Holders: 140
Dollar Value of Billionaire Holdings: $9 billion
Number of Billionaire Investors: 23
Salesforce Inc. (NYSE:CRM) is one of the best Fortune 500 stocks to buy according to billionaires. On June 19, ACI Infotech announced an exclusive partnership with Salesforce’s Agentforce platform. The collaboration follows a period of significant growth for ACI, driven by its focus on Data + AI, digital experience, and cloud modernization practices.
ACI Infotech has delivered substantial results across various demanding industries. In the healthcare sector, ACI modernized the data infrastructure for a national hospital network, which led to real-time analytics across 14 departments and a 45% reduction in the time needed to gain clinical insights. For a top-tier bank in financial services, ACI facilitated a migration to a unified lakehouse architecture, which resulted in a 40% reduction in data platform costs, faster regulatory reporting, and a 50% decrease in AI model deployment cycles.
The exclusive partnership with Salesforce’s Agentforce platform positions ACI Infotech as a leader in deploying autonomous AI solutions. From Salesforce’s perspective, the partnership with ACI Infotech’s Agentforce platform is a move to fortify its expansion into AI and cloud modernization.
Salesforce Inc. (NYSE:CRM) provides customer relationship management/CRM technology that connects companies and customers. ACI Infotech is a technology consulting powerhouse that drives enterprise transformation through AI, data, cloud, and intelligent automation.
6. Eli Lilly and Company (NYSE:LLY)
Number of Hedge Fund Holders: 119
Dollar Value of Billionaire Holdings: $13.7 billion
Number of Billionaire Investors: 23
Eli Lilly and Company (NYSE:LLY) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, Eli Lilly reported a positive reception for its blockbuster drug Mounjaro in India and is now prioritizing meeting the demand in the world’s most populous country, with a population of 1.4 billion. Eli Lilly launched Mounjaro in India in March of this year, ahead of its rival Novo Nordisk’s (NYSE:NVO) anticipated entry with Wegovy.
According to data from the research firm PharmaTrac, Mounjaro has sold over 81,570 units in India and made ~$2.76 million in revenue as of May. The drug’s sales increased by 60% between April and May, with the 5mg dose showing a 145% sales surge in May compared to April, which shows both strong patient adherence and demand. Mounjaro is currently available in India at a relatively cheaper price when compared to imported alternatives like Novo Nordisk’s Wegovy.
The introduction of Mounjaro comes as India faces a rising burden of obesity and diabetes. A government survey conducted between 2019 and 2021 revealed that 24% of women and nearly 23% of men aged 15 to 49 were overweight or obese, which is up from 20.6% and 19% respectively in 2015-2016. Furthermore, the International Diabetes Federation projects that the number of adults with diabetes in India will increase from 74.2 million in 2021 to over 124 million by 2045.
Eli Lilly and Company (NYSE:LLY) discovers, develops, and markets human pharmaceuticals globally.
5. Netflix Inc. (NASDAQ:NFLX)
Number of Hedge Fund Holders: 150
Dollar Value of Billionaire Holdings: $12.7 billion
Number of Billionaire Investors: 25
Netflix Inc. (NASDAQ:NFLX) is one of the best Fortune 500 stocks to buy according to billionaires. On June 18, Simply Wall St reported that Netflix is expanding its brand beyond streaming by launching Netflix House, which is a new venture into physical immersive entertainment venues. The first two Netflix House locations are scheduled to open in late 2025 in Philadelphia and Dallas, with a third location planned for the Las Vegas Strip in 2027.
Each Netflix House will span over 100,000 square feet and serve as a permanent, year-round destination for fans to step directly into the worlds of their favorite shows and films. These venues will feature regularly updated immersive experiences, interactive storytelling, and themed dining and retail options. For instance, the Philadelphia location at King of Prussia Mall will offer experiences inspired by “Wednesday,” including a “twisted carnival,” and “Wednesday: Eve of the Outcasts,” and “One Piece,” with an adventure called “One Piece: Quest for the Devil Fruit.”
The Dallas location at Galleria Dallas will host immersive experiences based on “Stranger Things,” such as “Stranger Things: Escape the Dark,” and “Squid Game,” with “Squid Game: Survive the Trials.” Additionally, it will feature “Netflix RePLAY,” a game room with retro-style arcade games, physical challenges, and immersive story rooms. Both locations will include Netflix Bites restaurants offering food and cocktails inspired by various Netflix shows and characters.
Netflix Inc. (NASDAQ:NFLX) offers television series, documentaries, feature films, and games across various genres and languages.
4. Visa Inc. (NYSE:V)
Number of Hedge Fund Holders: 165
Dollar Value of Billionaire Holdings: $17 billion
Number of Billionaire Investors: 26
Visa Inc. (NYSE:V) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, Visa announced a strategic partnership with Yellow Card. The collaboration aims to use stablecoin technology to enhance cross-border transactions, specifically focusing on streamlining treasury operations and improving liquidity management.
The partnership will enable USD transactions across borders using blockchain technology, with reduced settlement costs and the ability for continuous settlements, including on weekends and holidays. Visa has already facilitated over $225 million in stablecoin transactions through its network among participating clients.
The collaboration will explore new stablecoin use cases in the 20+ African countries where Yellow Card operates to integrate these solutions with Visa Direct. Last month, Visa also invested in BVNK, which is a stablecoin payments firm based in South Africa. The partnership with Yellow Card is expected to accelerate stablecoin adoption in regions where access to traditional financial services is limited and local currency volatility is a concern.
Visa Inc. (NYSE:V) is a payment technology company that offers credit, debit, and prepaid card products. Yellow Card is an African fintech company that specializes in stablecoin payments.
3. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 212
Dollar Value of Billionaire Holdings: $33 billion
Number of Billionaire Investors: 29
NVIDIA Corporation (NASDAQ:NVDA) is one of the best Fortune 500 stocks to buy according to billionaires. NVIDIA and Foxconn Technology Co. Ltd. (OTC:FXCOF) are in advanced discussions to implement humanoid robots at Foxconn’s new AI server manufacturing facility in Houston, Texas. This initiative, if finalized, would mark the first time NVIDIA’s products are manufactured with the assistance of humanoid robots and the first instance of Foxconn using such robots on an AI server production line.
The Houston factory is slated to commence operations in early 2026 to deploy humanoid robots by the first quarter of that year to help assemble NVIDIA’s GB300 AI servers. The facility’s design includes extra space specifically to accommodate this type of automation. Foxconn has been actively training humanoid robots for various manufacturing tasks, such as picking & placing objects, inserting cables, and performing general assembly work, as evidenced by a company presentation in May.
Foxconn has developed its own humanoid robots in collaboration with NVIDIA and has also conducted trials with robots from China’s UBTech, though the specific model and number of robots to be deployed in Houston are yet to be confirmed. Foxconn executive Leo Guo indicated last month that the company plans to unveil two humanoid robot models at its annual tech event in November: one with legs and another with a wheeled autonomous mobile base, with the latter expected to be more cost-effective.
NVIDIA Corporation (NASDAQ:NVDA) is a technology company that provides graphics and compute & networking solutions internationally. Foxconn Technology Co. Ltd. (OTC:FXCOF) manufactures, processes, and sells cases, heat dissipation modules, and consumer electronics products.
2. Meta Platforms Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 273
Dollar Value of Billionaire Holdings: $32 billion
Number of Billionaire Investors: 36
Meta Platforms Inc. (NASDAQ:META) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, Meta announced its latest “AI glasses,” which are developed in partnership with Oakley and are designed to appeal to both athletes and general users. These new Oakley Meta HSTN glasses, pronounced “How-stuhn” and based on Oakley’s HSTN style, build upon the technology found in Meta’s existing Ray-Ban AI glasses but introduce several enhancements.
Oakley Meta HSTN glasses include an IPX4 water resistance rating, which makes them suitable for active use and resistant to splashes or light rain. They also boast longer battery life and offer up to 8 hours of typical use and up to 19 hours on standby. This is more than the Ray-Ban Meta glasses’ 4-hour battery life. The charging case provides an additional 48 hours of power.
The integrated camera has been upgraded to record in Ultra HD 3K video, higher than the 1080p resolution of the Ray-Ban models. Powerful open-ear speakers are seamlessly integrated into the frames and allow users to listen to music, podcasts, or make calls. The glasses also include Meta AI, which enables hands-free interaction. The Oakley Meta HSTN will be available for pre-order starting July 11.
Meta Platforms Inc. (NASDAQ:META) develops products that enable people to connect and share with friends and family through two segments: Family of Apps/FoA and Reality Labs/RL.
1. Amazon.com Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 328
Dollar Value of Billionaire Holdings: $33 billion
Number of Billionaire Investors: 40
Amazon.com Inc. (NASDAQ:AMZN) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, Bloomberg reported that Amazon is discontinuing its experiment with same-day deliveries using Kia Soul vehicles, opting instead to rely on its existing network of gig-economy workers, primarily through the Amazon Flex program.
The trial began rolling out in 2023 and involved Amazon contract delivery firms, known as Delivery Service Partners (DSPs), deploying drivers in four- or five-hour shifts using rented Kia Corp. hatchbacks in several US states, like Florida, Illinois, Massachusetts, Ohio, Texas, and Washington. The objective of the Kia Soul program was to give Amazon more control over deliveries and potentially reduce its dependence on Amazon Flex drivers who utilize their own cars.
However, Amazon spokesperson Steve Kelly confirmed that after more than a year of gathering feedback from customers, DSPs, and teams at Same-Day Delivery facilities, the DSP model was determined not to be the right fit for Same-Day Delivery. The program will be phased out over the next few months, and the rental vehicles will be returned to their vendors. Amazon has stated it will support affected DSPs in operating other Amazon routes and assist drivers in finding jobs with other firms if needed.
Amazon.com Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores through three segments: North America, International, and Amazon Web Services/AWS.
While we acknowledge the potential of AMZN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about the cheapest AI stock.
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Disclosure: None.
