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25 Stocks Billionaires Are Piling On

Among the 650+ hedge funds tracked by Insider Monkey’s database are 62 funds which are either managed or were founded by billionaires. We pay special attention to the collective activity among this elite group of investors, which includes the likes of Warren Buffett, Carl Icahn, David Tepper, Ray Dalio, David Einhorn, Bill Ackman, Larry Robbins, Dan Loeb and Nelson Peltz.

Hedge funds are coming off a brutal month of October like most every investor, as hedge funds lost 4.9% globally according to Morgan Stanley, losses that were exacerbated by the fact that numerous “crowded” stocks that hedge funds love were hit hard during the month. Check out our recent list of the 25 Most Popular Stocks Among Hedge Funds to see some of their favorite equities.

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Warren Buffett of Berkshire Hathaway

Below and on the following pages, we’ll count down the 25 most popular mid-cap stocks (which we classify as having market caps of between $10 billion and $20 billion) among the hedge fund world’s greatest money managers, who have become billionaires through their investing acumen.

25. Darden Restaurants, Inc. (NYSE:DRI)

Number of Billionaire Shareholders of DRI (as of June 30): 8

Value of Billionaires’ Holdings in DRI (as of June 30): $958 million

Darden Restaurants, Inc. (NYSE:DRI) kicks off our list, ranking 25th with 8 of the billionaire investors tracked by our system owning $958 million worth of the stock on June 30. Those figures were a notable jump from three months earlier, when 5 billionaires owned $563 million of Darden shares. Louis Bacon’s Moore Global Investments was among the billionaires to open a new position in Darden during Q2, buying 133,027 shares.

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24. Devon Energy Corporation (NYSE:DVN)

Number of Billionaire Shareholders of DVN (as of June 30): 8

Value of Billionaires’ Holdings in DVN (as of June 30): $1.07 billion

Devon Energy Corporation (NYSE:DVN) shares were also held by 8 billionaires on June 30, who owned $1.07 billion worth of them. Those were increases from 7 and $398 million respectively on March 31. Paul Singer’s Elliott Management took a 3.02-million share stake in Devon Energy during Q2, while Ken Griffin’s Citadel Investment hiked its stake by 1,107% to 7.48 million shares. As noted back in February, Devon Energy was one of 6 energy stocks that billionaires were bullish on heading into 2018, however the stock has disappointed despite a 40% surge in oil prices since last November. That has left shares looking undervalued, which is likely why billionaires were buying them up in Q2.

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23. Mylan N.V. (NASDAQ:MYL)

Num Number of Billionaire Shareholders of MYL (as of June 30): 8

Value of Billionaires’ Holdings in MYL (as of June 30): $1.10 billion

Mylan N.V. (NASDAQ:MYL) shares were owned by 8 billionaires tracked by Insider Monkey on June 30, unchanged from a quarter earlier. The value of their positions also declined to $1.10 billion from $1.42 billion during Q2, partly due to shares losing 10% during the quarter. John Paulson’s Paulson & Co. retained its position of 11.54 million shares, the largest of any of the funds tracked in our database. David Einhorn’s Greenlight Capital sold off 793,000 shares in Q2, leaving the fund with 6.86 million shares.

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22. WellCare Health Plans, Inc. (NYSE:WCG)

Number of Billionaire Shareholders of WCG (as of June 30): 8

Value of Billionaires’ Holdings in WCG (as of June 30): $1.11 billion

WellCare Health Plans, Inc. (NYSE:WCG) shares had a big second quarter, which pushed the value of billionaires’ holdings in the stock to $1.11 billion from $739 million quarter-over-quarter, while the number of billionaire shareholders remained unchanged at 8. Jim Simons’ quant fund Renaissance Technologies was the largest shareholder of the stock on June 30, owning 1.39 million shares, while Ken Griffin’s Citadel Investment raised its position by 535% in Q2 to 510,693 shares. While WellCare’s shares have been battered over the last two weeks, there is some optimism for healthcare stocks heading into the midterm elections, which could benefit from the Democrats winning more states.

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21. First Data Corporation (NYSE:FDC)

Number of Billionaire Shareholders of FDC (as of June 30): 8

Value of Billionaires’ Holdings in FDC (as of June 30): $1.33 billion

First Data Corporation (NYSE:FDC) was owned by 8 billionaires on June 30, lead by Larry Robbins’ Glenview Capital, with 26.7 million shares. Steve Cohen’s Point72 Asset Management, which reopened to public investment earlier this year, owned 10.32 million shares. First Data shares have lost 29% over the past two months, with the company’s most recent quarterly results disappointing investors. Revenue of $2.16 billion and adjusted earnings of $0.35 both slightly missed consensus estimates. Revenue from First Data’s global financial solutions segment was down by 2% year-over-year in Q3.

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20. Citrix Systems, Inc. (NASDAQ:CTXS)

Number of Billionaire Shareholders of CTXS (as of June 30): 8

Value of Billionaires’ Holdings in CTXS (as of June 30): $1.88 billion

The same number of billionaires owned Citrix Systems, Inc. (NASDAQ:CTXS) on June 30 as three months earlier, though the value of their holdings jumped by over 50% to $1.88 billion. Billionaire Paul Singer of Elliott Management, who engaged in an activist campaign against Citrix Systems after opening a position in the second quarter of 2015, owns 7.09 million shares as of June 30. Elliott Management’s Jesse Cohn has been a member of Citrix’s board since July 2015.

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19. Synchrony Financial (NYSE:SYF)

Number of Billionaire Shareholders of SYF (as of June 30): 8

Value of Billionaires’ Holdings in SYF (as of June 30): $2.25 billion

Synchrony Financial (NYSE:SYF) has two massive bulls in particular among the billionaires tracked by our database: Seth Klarman and Warren Buffett. Klarman’s Baupost Group (29.3 million shares) and Buffett’s Berkshire Hathaway (20.8 million shares) owned nearly $1.7 billion in shares between them. David Harding’s Winton Capital (142,307 shares) also opened a new position in Synchrony during Q3.

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18. Tiffany & Co. (NYSE:TIF)

Number of Billionaire Shareholders of TIF (as of June 30): 9

Value of Billionaires’ Holdings in TIF (as of June 30): $868 million

Luxury goods maker Tiffany & Co. (NYSE:TIF) grew more popular among billionaires in Q2, as 9 of them owned $868 million in shares, up from 7 billionaires with $628 million in shares at the end of Q1. Israel Englander’s Millennium Management (1.96 million shares) and Barry Rosenstein’s JANA Partners (1.76 million shares) were among the top Tiffany bulls on June 30. Tiffany & Co. appears to have some tailwinds at its back, including favorable commodity prices and a big growth opportunity in China, where the luxury goods market is growing at least twice as fast as other large markets.

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17. Comerica Incorporated (NYSE:CMA)

Number of Billionaire Shareholders of CMA (as of June 30): 9

Value of Billionaires’ Holdings in CMA (as of June 30): $951 million

Comerica Incorporated (NYSE:CMA) was the most popular regional banking stock among hedge funds heading into 2018, as 45 hedge funds tracked by Insider Monkey were shareholders of it. That number dipped to 43 by the midpoint of 2018, 9 of which were managed or founded by billionaires. Israel Englander’s Millennium Management (5 million shares) and Ken Griffin’s Citadel Investment (3.11 million shares) held the largest positions in Comerica on June 30.

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16. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Billionaire Shareholders of LULU (as of June 30): 9

Value of Billionaires’ Holdings in LULU (as of June 30): $1.11 billion

Lululemon Athletica Inc. (NASDAQ:LULU) is an unsurprising entry, given that it also ranks as the most popular apparel stock among hedge funds, even besting such apparel heavyweights as Nike Inc. (NYSE:NKE). 41 hedge funds tracked by our database owned the stock on June 30, including 9 funds managed or founded by billionaires. Quant funds D. E. Shaw (1.57 million shares) and Renaissance Technologies (1.39 million shares) were among the biggest shareholders at the end of June. Lululemon’s shares are still up by 80% in 2018 even after a 13% dip in October.

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15. Citizens Financial Group, Inc. (NYSE:CFG)

Number of Billionaire Shareholders of CFG (as of June 30): 9

Value of Billionaires’ Holdings in CFG (as of June 30): $1.17 billion

Citizens Financial Group, Inc. (NYSE:CFG) has been a popular stock among hedge funds for several quarters and billionaires are now becoming more active in it as well. 9 of them owned $1.17 billion in CFG shares on June 30, up from 6 billionaires with $678 million in shares on March 31. David Tepper’s Appaloosa Management opened a large position of 1.26 million shares in Citizens Financial during Q2. The company also made our list of the The 25 Biggest Insider Purchases in October after Director Charles Koch bought 14,000 shares on October 23.

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14. Alliance Data Systems Corporation (NYSE:ADS)

Number of Billionaire Shareholders of ADS (as of June 30): 9

Value of Billionaires’ Holdings in ADS (as of June 30): $1.62 billion

Ray Dalio’s Bridgewater Associates (91,869 shares) and Ken Griffin’s Citadel Investment (207,881 shares) were among the 9 billionaire shareholders of Alliance Data Systems Corporation (NYSE:ADS) as of June 30, which was up by one quarter-over-quarter. Alliance Data Systems announced in October that it will conduct a strategic review, which could include the possibility of selling assets. ADS shares are down by 22% this year and the company is coming off an underwhelming third quarter in which revenue grew by just 2% year-over-year to $1.95 billion.

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13. Vistra Energy Corp. (NYSE:VST)

Number of Billionaire Shareholders of VST (as of June 30): 9

Value of Billionaires’ Holdings in VST (as of June 30): $1.90 billion

Vistra Energy Corp. (NYSE:VST) ranks 13th, as 9 billionaire money managers held $1.90 billion of Vistra shares on June 30. David Tepper’s Appaloosa Management opened a large new position during Q2, totaling 1.87 million shares, after selling out of the stock during the previous quarter. Vistra shares have gained 31% this year, buoyed by aggressive capital allocation plans through 2022 that include the recent announcement of $1.25 billion for share buybacks.

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12. Liberty SiriusXM Group (NASDAQ:LSXMA)

Number of Billionaire Shareholders of LSXMK (as of June 30): 9

Value of Billionaires’ Holdings in ADS (as of June 30): $1.95 billion

Liberty SiriusXM Group (NASDAQ:LSXMA) was owned by 9 of the billionaire investors tracked by Insider Monkey on June 30, including Ken Griffin’s Citadel Investment (1.10 million shares), Jim Simons’ Renaissance Technologies (450,700 shares), and Glenn Russell Dubin’s Highbridge Capital Management (81,743 shares). It was announced in September that Sirius will acquire Pandora Media, Inc. (NYSE:P) for $3.5 billion in stock, providing it with an effective way to shuttle listeners who don’t want to subscribe long-term over to Pandora’s free, ad-supported platform.

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11. VeriSign, Inc. (NASDAQ:VRSN)

Number of Billionaire Shareholders of VRSN (as of June 30): 9

Value of Billionaires’ Holdings in VRSN (as of June 30): $3.61 billion

DNS provider VeriSign, Inc. (NASDAQ:VRSN) ranks 11th on our list of the 25 Stocks Billionaires Are Piling On, as 9 billionaires owned $3.61 billion worth of the stock on June 30, up from 7 billionaires with $3.07 billion in shares at the end of March. Warren Buffett’s Berkshire Hathaway was the largest shareholder on June 30 with 12.95 million shares. Verisign shares surged by 18% on November 2 after an agreement was announced between the company and the Department of Commerce that gives Verisign greater pricing flexibility.

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10. IAC/InterActiveCorp (NASDAQ:IAC)

Number of Billionaire Shareholders of IAC (as of June 30): 10

Value of Billionaires’ Holdings in IAC (as of June 30): $750 million

IAC/InterActiveCorp (NASDAQ:IAC) witnessed a slight decline in billionaire ownership during Q2, as $858 million in shares were owned by 11 billionaires on March 31, which fell to $750 million held by 10 billionaires on June 30. D. E. Shaw lowered its stake by 49% during Q2, to 338,641 shares. Maran Capital is not helmed by a billionaire, but it’s another hedge fund that likes IAC, noting in its Q1 investor letter how it’s playing IAC as an arbitrage play, going long the stock, while shorting IAC’s publicly traded holdings Match Group, Inc. (NASDAQ:MTCH) and ANGI Homeservices Inc. (NASDAQ:ANGI).

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9. SVB Financial Group (NASDAQ:SIVB)

Number of Billionaire Shareholders of SIVB (as of June 30): 10

Value of Billionaires’ Holdings in SIVB (as of June 30): $798 million

Billionaire ownership of SVB Financial Group (NASDAQ:SIVB) doubled during the second quarter to 10, with the value of billionaires’ positions jumping by close to 60% to just under $800 million. Ken Fisher’s Fisher Asset Management (1.15 million shares) and Israel Englander’s Millennium Management (770,940 shares) held the largest positions in the stock among the funds tracked in our system. While SVB Financial delivered a big third quarter in terms of net income ($274.8 million, up by 85% year-over-year), quarter-over-quarter deposit growth slowed to just 2.3%, hitting $49 billion.

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8. Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Number of Billionaire Shareholders of TTWO (as of June 30): 10

Value of Billionaires’ Holdings in TTWO (as of June 30): $870 million

Video game developer Take-Two Interactive Software, Inc. (NASDAQ:TTWO) was highly sought after by billionaire money managers in Q2. It was owned by 10 billionaires on June 30, who held $870 million worth of its shares, up from just 6 billionaires owning $283 million in shares on March 31. Ken Griffin’s Citadel Investment (2.55 million shares, up by 1,618% during the quarter) and Steve Cohen’s Point72 Asset Management (1.85 million shares, up by 46%) were among the billionaires pouring millions into the stock. While not a billionaire (yet), Samantha Greenberg of Margate Capital recently shared her bull case on Take-Two, noting the company’s rapidly rising revenue and the transformation of its business model to one that generates recurring revenue through microtransactions.

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7. Lennar Corporation (NYSE:LEN)

Number of Billionaire Shareholders of LEN (as of June 30): 10

Value of Billionaires’ Holdings in LEN (as of June 30): $1.29 billion

Lennar Corporation (NYSE:LEN) shares have shed 35% of their value in 2018, including 16% declines since September 10, as rising mortgage rates have investors concerned of a growing slowdown in the housing market. However, Lennar recently raised its fiscal 2019 deliveries projections by 15% to 53,000 homes, and has a strong balance sheet, which is doubtless why so many billionaires like the stock. Among them on June 30 were Dan Loeb’s Third Point (6 million shares) and Andreas Halvorsen’s Viking Global (5.43 million shares).

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6. Wynn Resorts, Limited (NASDAQ:WYNN)

Number of Billionaire Shareholders of WYNN (as of June 30): 10

Value of Billionaires’ Holdings in WYNN (as of June 30): $1.37 billion

Wynn Resorts, Limited (NASDAQ:WYNN) was also owned by 10 billionaire money managers at the midpoint of this year. Stephen Mandel’s Lone Pine Capital (3.8 million shares) and Dan Loeb’s Third Point (1.53 million shares) were among Wynn’s leading shareholders. Of the funds that filed for the September 30 reporting period, David Harding’s Winton Capital has revealed that it sold out of its WYNN position in Q3. Wynn is looking to diversify its Macau revenue streams, which are more heavily reliant on gaming revenue than its operations in Las Vegas and elsewhere.

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5. Domino’s Pizza, Inc. (NYSE:DPZ)

Number of Billionaire Shareholders of DPZ (as of June 30): 10

Value of Billionaires’ Holdings in DPZ (as of June 30): $2.27 billion

We ranked Domino’s Pizza as a stock to buy ahead of the World Cup this year, and it didn’t disappoint, hitting gains of over 20% later in the year before the October market setback burned away some of them. Nonetheless, shares are still up by over 30% in 2018. While Domino’s ranks fifth in terms of the number of billionaire shareholders, it jumps to second in terms of the value of billionaires’ holdings, at $2.27 billion. Jim Simon’s Renaissance Technologies (3.45 million shares) and Chase Coleman’s Tiger Global Management (2.11 million shares) were top Domino’s shareholders on June 30.

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4. DISH Network Corporation (NASDAQ:DISH)

Number of Billionaire Shareholders of DISH (as of June 30): 11

Value of Billionaires’ Holdings in DISH (as of June 30): $678 million

Billionaire money managers kept buying shares of DISH Network Corporation (NASDAQ:DISH) in Q2 even as they slid by 10%, as the value of their collective positions rose to $678 million from $605 million. Ken Griffin’s Citadel Investment raised its position by 382% to 554,686 shares, while Paul Singer’s Elliott Management was even more aggressive, raising its stake by 194% to 2.99 million shares. Much of DISH’s equity value lies in its spectrum assets, which could be worth as much as $30 billion according to Cowen, or more than double the company’s current market cap.

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3. Hartford Financial Services Group, Inc. (NYSE:HIG)

Number of Billionaire Shareholders of HIG (as of June 30): 11

Value of Billionaires’ Holdings in HIG (as of June 30): $974 million

One of the 76 Best Insurance Dividend Stocks to Invest In, multiple billionaires decided to do just that in Q2, as $974 million worth of Hartford Financial Services Group, Inc. (NYSE:HIG) were owned by 11 billionaires’ funds on June 30, up from 9 billionaires owning $591 million in shares on March 31. Ray Dalio’s Bridgewater Associates (9,346 shares) and Glenn Russell Dubin’s Highbridge Capital Management (200,000 shares) opened new positions in HIG during Q2.

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2. Freeport-McMoRan Inc (NYSE:FCX)

Number of Billionaire Shareholders of FCX (as of June 30): 12

Value of Billionaires’ Holdings in FCX (as of June 30): $1.75 billion

Freeport-McMoRan Inc (NYSE:FCX) surged into second spot on this list, jumping to 12 billionaire shareholders from 9 quarter-over-quarter. As we noted in September, FCX was a stock that billionaires were buying even as other hedge funds were collectively selling (overall hedge fund ownership dropped to 42 from 46 during Q2). One of the company’s new billionaire bulls was Stanley Druckenmiller, whose Duquesne Capital bought a new stake of 858,000 shares during Q2.

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1. DXC Technology Company (NYSE:DXC)

Number of Billionaire Shareholders of DXC (as of June 30): 13

Value of Billionaires’ Holdings in DXC (as of June 30): $1.57 billion

Topping our list of the 25 Stocks Billionaires Are Piling On is DXC Technology Company (NYSE:DXC), which counted 13 billionaires as shareholders on June 30, up from 10 at the end of March. Barry Rosenstein’s JANA Partners (638,899 shares) opened a new DXC position in Q2, while Steve Cohen’s Point72 Asset Management bought 1.58 million shares during the quarter to lift its total to 1.69 million. DXC shares have lost 25% since September 17, including a steep drop on October 24 when a leaked memo revealed that Karan Puri, the head of struggling division DXC Americas, would be leaving the company at the end of October.

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Disclosure: None

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