13 Best Performing NASDAQ Stocks According to Hedge Funds

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3. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 109

Market Capitalization: $230.94 billion

Year-To-Date Performance: 110.84%

AppLovin Corporation (NASDAQ:APP) is one of the best performing NASDAQ stocks according to hedge funds. On October 1, the company rebranded its customer-facing advertising platform as Axon. It launched Axon Ads Manager, a self-service ad management tool, which is initially available on a referral-only basis. Axon is powered by an AI engine that uses predictive analytics, real-time optimization, and continuous feedback to target ads more effectively and deliver measurable results for advertisers.

The platform allows advertisers to set specific goals, and the Axon AI automates campaign optimizations without manual intervention. Axon evaluates user behavior and serves ads to those most likely to engage. The goal is to drive genuine, high-intent interactions like app downloads, purchases, or subscriptions. The engine continuously learns from campaign outcomes, refining targeting on each iteration to achieve better engagement and revenue for advertisers in a feedback loop that improves over time.

Axon’s performance-focused model is being extended from gaming to e-commerce, web, and other sectors. Early results show rapid adoption by hundreds of advertisers, significant increases in advertising spend, and improved revenue attribution compared to other platforms. Axon’s public global launch is planned after an initial feedback period, expected in 2026.

AppLovin Corporation (NASDAQ:APP) develops a software-based platform that supports mobile app marketing, monetization, and distribution. It operates through two segments, Software Platform and Apps. The company’s solutions include AppDiscovery, MAX, Adjust, and Wurl.

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