5 Best ADR Stocks To Buy Now

In this piece, we will take a look at the five best ADR stocks to buy now. If you want to take a look at what investing in ADRs is all about, then take a look at 10 Best ADR Stocks To Buy Now.

5. Accenture plc (NYSE:ACN)

Number of Hedge Fund Investors In Q2 2023: 56

Accenture plc (NYSE:ACN) is an information technology company headquartered in Dublin, Ireland. The firm allows corporate customers to digitize their operations. Despite inflation and high interest rates stressing out corporate budgets, the firm has beaten analyst EPS estimates in all four of its latest quarters and the stock is rated Buy on average.

During Q2 2023, 56 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Accenture plc (NYSE:ACN). Out of these, the firm’s biggest shareholder is Guardian Capital’s GuardCap Asset Management since it owns 1.8 million shares that are worth $576 million.

4. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Fund Investors In Q2 2023: 67

PDD Holdings Inc. (NASDAQ:PDD) operates an electronic commerce platform that enables people to buy a wide variety of products such as home appliances and furniture. The firm’s second quarter earnings proved to be a catalyst for the stock as the shares jumped in double digits after it grew revenue by 66%.

By the end of this year’s second quarter, 67 hedge funds out of the 910 part of Insider Monkey’s research had invested in the company. PDD Holdings Inc. (NASDAQ:PDD)’s largest hedge fund investor is Lei Zhang’s Hillhouse Capital Management due to its $565 million stake.

3. Linde plc (NYSE:LIN)

Number of Hedge Fund Investors In Q2 2023: 70

Linde plc (NYSE:LIN) is a British industrial products company headquartered in Woking, the United  Kingdom. The firm was in for some good news in September as UBS kept a $450 share price for the stock and assigned it a Buy rating.

During 2023’s June quarter, 70 out of the 910 hedge funds surveyed by Insider Monkey had held a stake in Linde plc (NYSE:LIN).

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Investors In Q2 2023: 112

Alibaba Group Holding Limited (NYSE:BABA) is one of the largest technology companies in the world. It primarily operates an electronic commerce platform in China. Utilizing its technological strengths, it became another company in September that showed off an artificial intelligence model to the public.

After digging through 910 hedge funds for their second quarter of 2023 investments, Insider Monkey discovered that 112 had bought the firm’s shares. David Tepper’s Appaloosa Management LP is Alibaba Group Holding Limited (NYSE:BABA)’s biggest stakeholder among these since it owns $372 million worth of shares.

1. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Number of Hedge Fund Investors In Q2 2023: 121

Topping our list is the world’s largest contract chip manufacturer, the Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). Its shares are rated Strong Buy on average and analysts have penned in a $111 average share price target.

121 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 database were Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s investors. Ken Fisher’s Fisher Asset Management is the largest hedge fund shareholder, through a $2.9 billion investment.

Disclosure: None.  You can also take a look at 10 Best Blockchain and Bitcoin ETFs and Dow 30 Stocks List: Ranked By Hedge Fund Bullishness Index.

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