In this article, we will take a look at the 5 near-monopoly stocks in the US. If you want to see more stocks in this selection, go to the Monopoly Definition and 12 Near Monopoly Stocks in the US.
5. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 166
Alphabet Inc. (NASDAQ:GOOG), a prominent player in the technology sector, is best known for its flagship product, Google, a search engine handling billions of daily queries. The company’s portfolio extends to diverse platforms for video streaming and productivity, with YouTube being a standout asset. Furthermore, Alphabet Inc. (NASDAQ:GOOG) is engaged in retailing electronic devices such as smartphones, ultra-thin notebooks, and speakers. In the web browser segment, Google, a subsidiary of Alphabet Inc. (NASDAQ:GOOG), commands a dominant market share of 97%, rivaling Microsoft Corporation (NASDAQ:MSFT) in this space.
Among the hedge funds being tracked by Insider Monkey, Texas-based investment firm Fisher Asset Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 45 million shares worth more than $6.3 billion.
In its Q3 2023 investor letter, Weitz Investment Management, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:
“As for other quarterly contributors, Alphabet Inc. (NASDAQ:GOOG) and Meta Platforms, Inc., (META) added to their exceptional year-to-date returns. Meta Platforms and Alphabet were the true year-to-date standouts. After steep declines in 2022, both stocks rebounded sharply due to a combination of solid fundamentals, disciplined operational execution, and improved sentiment. Despite outsized gains and attention, we think both Alphabet and Meta remain undervalued.”
4. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 173
NVIDIA Corporation (NASDAQ:NVDA), headquartered in Santa Clara, California, and incorporated in Delaware, is a multinational technology company renowned for its specialization in designing and selling GPUs (Graphics Processing Units) across various applications, including gaming, cryptocurrency mining, and professional uses. Additionally, Nvidia provides chip systems utilized in sectors such as vehicles, robotics, and other tools.
In April 2024, Morgan Stanley’s Joseph Moore expressed optimism for the firm, predicting that the stock could surge to $1,000 over the next 12 months.
During the final quarter of last year, Insider Monkey’s research revealed that 173 out of the 933 hedge funds covered had invested in NVIDIA Corporation (NASDAQ:NVDA). Among these investors, Rajiv Jain’s GQG Partners emerged as the largest shareholder with a $6.8 billion investment in the company.
3. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 242
Meta Platforms, Inc. (NASDAQ:META), previously known as Facebook, Inc. and TheFacebook, Inc., is a prominent American multinational technology conglomerate headquartered in Menlo Park, California. With a diverse portfolio of products and services including Facebook, Instagram, Threads, WhatsApp, and others, the company maintains a significant presence in the tech industry.
In the December quarter of last year, Insider Monkey’s data indicated that 242 out of the 933 hedge funds tracked had purchased and held shares of Meta Platforms, Inc. (NASDAQ:META). Among these, Rajiv Jain’s GQG Partners emerged as the largest stakeholder, boasting a $3.9 billion investment in the company.
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 293
Amazon.com, Inc. (NASDAQ:AMZN), a leading American multinational technology conglomerate, operates across various sectors including e-commerce, cloud computing (Amazon Web Services – AWS), online advertising, digital streaming, and artificial intelligence. Dominating the U.S. e-commerce market with an impressive 37.8% share, Amazon.com, Inc. (NASDAQ:AMZN) outpaces competitors like Walmart and eBay.
Insider Monkey’s research for the December quarter of 2023 indicated that out of the 933 hedge funds covered, 293 held stakes in Amazon.com, Inc. (NASDAQ:AMZN). Ken Fisher’s Fisher Asset Management emerged as the largest hedge fund investor in the company, with a stake valued at $6.4 billion.
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 302
Headquartered in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) is a renowned American multinational technology company celebrated for its array of software products, including the Windows line of operating systems, Microsoft 365 suite of productivity applications, and the Edge web browser.
In October 2023, Microsoft Corporation (NASDAQ:MSFT) achieved regulatory approval worldwide for its $68.7 billion acquisition of Activision Blizzard, marking the largest deal ever witnessed in the gaming industry. The acquisition marked Microsoft Corporation (NASDAQ:MSFT)’s most substantial acquisition to date, far surpassing the $26 billion spent on acquiring LinkedIn in 2016 and the $7.5 billion spent on acquiring Bethesda in 2021. This strategic move underscores the company’s shift towards prioritizing gaming content delivery alongside platform development, reflecting its aspirations to explore opportunities in the burgeoning metaverse industry.
On March 6, investment advisory firm Jefferies maintained a Buy rating on Microsoft Corporation (NASDAQ:MSFT) stock, setting a price target of $500.
Among the hedge funds monitored by Insider Monkey, Texas-based investment firm Fisher Asset Management emerges as a prominent shareholder in Microsoft Corporation (NASDAQ:MSFT), holding 25 million shares valued at over $9.5 billion.
Disclosure: None. You can also take a look at the 11 Best Ethanol Stocks To Invest In Now and 11 Oversold Energy Stocks You Can Buy Right Now.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.