5 Internet of Things (IoT) Stocks Billionaires Are Loading Up On

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1. Acuity Brands, Inc. (NYSE:AYI)

Number of Billionaire Investors: 11

Acuity Brands, Inc. (NYSE:AYI) is an industrial products company that sells a variety of IoT products. These include lighting for different use cases such as architectural and healthcare use. At the same time, it also provides connected building management platforms.

As of March 2023, 34 of the 943 hedge funds profiled by Insider Monkey had invested in the company. Acuity Brands, Inc. (NYSE:AYI)’s largest investor is billionaire Cliff Asness’s AQR Capital Management with a $62 million investment.

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