5 Best Performing S&P 500 Stocks in the Last 5 Years

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 89

5-Year Share Price Gains as of January 6: 166.53%

NVIDIA Corporation (NASDAQ:NVDA) is a California-based company specializing in  graphics, semiconductors, and networking solutions in the United States, Taiwan, China, and internationally. NVIDIA Corporation (NASDAQ:NVDA) stock has gained 166.5% over the last five years as of January 6, making it one of the best performing S&P 500 members over the period. 

On December 19, Needham analyst Rajvindra Gill raised the price target on NVIDIA Corporation (NASDAQ:NVDA) to $230 from $200 and maintained a Buy rating on the shares. NVIDIA Corporation (NASDAQ:NVDA) is the analyst’s top pick for 2023 and he added it to the firm’s Conviction List as well. While the analyst sees volatility in the overall data center market in CY23, he believes NVIDIA Corporation (NASDAQ:NVDA)’s customers are upgrading to the latest H100 architecture. 

According to Insider Monkey’s data, 89 hedge funds were bullish on NVIDIA Corporation (NASDAQ:NVDA) at the end of Q3 2022, compared to 84 funds in the prior quarter. Ken Fisher’s Fisher Asset Management held a significant position in the company, consisting of 12 million shares worth $1.46 billion.  

Ave Maria made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2022 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) Corporation primarily designs and sells the accelerated computer hardware and software that is indispensable for autonomous vehicle, gaming, and artificial intelligence applications. Near term uncertainty from the crypto market correction and the semiconductor cycle have weighed on shares and offered an attractive entry point for long-term investors.”