13 Best QQQ Stocks to Buy According to Hedge Funds

9. Tesla Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 104

Tesla Inc. (NASDAQ:TSLA) is one of the best QQQ stocks to buy according to hedge funds. On June 17, it was reported that Tesla is implementing another production halt at its Gigafactory in Texas, which will affect the Model Y and Cybertruck production lines. This shutdown is slated to begin on June 30 and extend through the week of the July Fourth holiday. It will mark the second such pause at the facility in 2 months and the 3rd in the past year.

The production halts come amid mounting pressure on Tesla due to slower demand and increasing inventory levels. Earlier in June this year, reports indicated that Tesla was renting overflow parking lots across the US to store unsold vehicles, which included Cybertrucks. Cybertruck production has already been scaled back in 2025, with sales tracking at about half of the previous year’s figures, despite the introduction of cheaper variants, eligibility for federal tax credits, and increased discounts.

As of March 2025, fewer than 50,000 Cybertrucks had been delivered, and around 10,000 remain unsold across the US. Tesla experienced a 13% year-over-year drop in total deliveries in Q1 2025, which the company attributed partly to the Model Y design refresh causing a production bottleneck. However, current estimates suggest that Q2 2025 deliveries could be down as much as 19% to 20% compared to Q2 2024. The company has been operating most of its global factories at ~60% utilization since 2024.

Tesla Inc. (NASDAQ:TSLA) designs, develops, manufactures, leases, and sells EVs, and energy generation & storage systems in the United States, China, and internationally.