15 Best Non-Tech Stocks to Buy According to Billionaires

In this article, we will take a look at the 15 Best Non-Tech Stocks to Buy According to Billionaires.

With the European Union and the United States seemingly headed towards a trade agreement akin to the one President Donald Trump reached with Japan, the S&P 500 and Nasdaq closed at record highs on July 23. The White House’s agreement with the European Union would impose a broad 15% tariff on EU goods imported into the US, according to Reuters. The rate, which might also apply to automobiles, would be similar to the framework deal the United States has with Japan.

According to economic data, June’s existing home sales in the US declined more than anticipated. In order to assess the state of the economy in the aftermath of tariff concerns, attention will now turn to the weekly unemployment claims figures for July 24 and S&P Global’s flash PMI data.

The ongoing trade and tariff talks between the United States and China, and a steadily falling rate of inflation, have all influenced investor mood around riskier assets like stocks. That said, although the tech sector has been in the spotlight for a few years now, investors overlooking the non-tech plays may miss out on a number of non-tech stocks that have room to grow.

With that in mind, we will now take a look at some of the best non-tech stocks to buy according to billionaires.

Stocks

Our Methodology

In this article, we analyzed Insider Monkey’s exclusive database of billionaire stock holdings to select the 15 non-tech stocks with the highest number of billionaire investors. These billionaires are founders or managers of some of the world’s leading hedge funds and companies.

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).

15. Chevron Corporation (NYSE:CVX)

Number of Billionaire Investors: 14

Number of Hedge Fund Holders: 81

Chevron Corporation (NYSE:CVX) ranks among the best non-tech stocks to buy according to billionaires. UBS has reaffirmed its Buy rating and $177 price target on Chevron Corporation (NYSE:CVX) following the completion of the Hess deal.

On July 21, Chevron Corporation (NYSE:CVX) announced that it had completed the Hess acquisition with a decision in favor of the Guyana Stabroek Block Arbitration Hearing by the International Chamber of Commerce. According to UBS, the merger boosts Chevron’s projected five-year growth rates for production and free cash flow while improving the company’s growth forecast clarity.

Additionally, UBS believes Chevron’s next major trigger for the stock will be its upcoming Analyst Day on November 12; the briefing is expected to center on its newly acquired Hess assets.

Chevron Corporation (NYSE:CVX), based in San Ramon, California, is a major American global energy company that specializes in the oil and gas industry. Founded as the Standard Oil Company of California, it is the second-largest direct descendant of Standard Oil.