5 Best Climate Change Stocks To Buy According To Hedge Funds

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1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155 

Alphabet Inc. (NASDAQ:GOOG) is the only technology company on the climate change stock list and it is placed first on our list of 11 best climate change stocks to buy according to hedge funds. Since inception, the firm has set a standard for other corporate businesses in the clean energy adoption race. Despite being among the most valuable companies in the world, it has been carbon neutral since 2007 and has invested heavily in clean energy programs. In 2020, the firm announced that the net carbon footprint of the firm was zero.  

Alphabet Inc. (NASDAQ:GOOG) is the largest corporate purchaser of clean energy. There is no indication that this will change in the near-future and will provide the firm with an advantage while other big firms undergo energy transitions in the next decade or so, balancing their business activity with green spending. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 2.9 million shares worth more than $7.3 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”

You can also take a peek at 10 Best EV Materials Stocks to Buy and 10 Best NFT Stocks to Buy Now.

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