5 Best Tech Stocks to Buy According to Billionaire Ken Griffin

4. Alphabet Inc. (NASDAQ: GOOG)

Value: $534,112,000
Percent of Ken Griffin’s 13F Portfolio: 0.14%
No. of Hedge Fund Holders: 157

Ken Griffin’s Citadel is bullish on Alphabet. The stock is up 87% over the last 12 months. Investment firm Stifel recently turned bullish in Alphabet (GOOG,GOOGL), citing a “speedy” recovery in the search giant’s digital advertising business. The firm also likes the stock on the back of several secular growth trends, including the digitization of small and large businesses, increased margins and operating leverage. Stifel increased its price target for the stock to $2350 from $2025.

As of the end of the fourth quarter, 157 hedge funds in Insider Monkey’s database of 887 funds held stakes in GOOG, compared to 150 funds in the third quarter. Chris Hohn’s TCI Fund Management is the biggest stakeholder in the company, with 2.95 million shares, worth $5.2 billion. Based on our calculations, Alphabet Inc. (GOOG) ranks 6th in our list of the 30 Most Popular Stocks Among Hedge Funds.

Weitz Investment Management, in their Q4 2020 investor letter, mentioned Alphabet Inc. (NASDAQ: GOOG). Here is what Weitz Investment Management has to say about Alphabet Inc. in their Q4 2020 investor letter:

“Despite mounting regulatory scrutiny, Alphabet was the Fund’s largest contributor for the year. The stock rose materially as Google’s digital advertising businesses continued to chug along.”