#3 EOG Resources Inc (NYSE:EOG)
– Number of Billionaire Shareholders (as of September 30): 8
– Total Value of Billionaire Holdings (as of September 30): $281.93 million
Although crude prices are around half of what they were in 2014, EOG Resources has a bright future. Not only does it have a solid balance sheet and a low cost of production, but it also has acreage in some of the most competitive shale plays in the world. If OPEC can agree on the specifics of a production cut, EOG could have more upside ahead. 8 billionaire investors reported holding stakes in EOG Resources Inc (NYSE:EOG) as of the end of Q3, up from just 2 at the end of June. Among the new billionaire shareholders is Daniel S. Och‘s Oz Management, which opened a 1.54 million-share long position, in addition to also starting a call options position underlying 1.88 million EOG shares.
#2 Bank of America Corp (NYSE:BAC)
– Number of Billionaire Shareholders (as of September 30): 15
– Total Value of Billionaire Holdings (as of September 30): $1.86 billion
Shares of Bank of America have been on a tear since Donald Trump’s victory on November 8. Due to Trump’s proposed policies of cutting taxes, increasing infrastructure spending, and preserving entitlements, the market is expecting more inflation ahead, which will likely prompt the Federal Reserve to finally begin normalizing interest rates. No mega-bank arguably benefits more from higher interest rates than Bank of America. Given Bank of America’s 0.85 price-to-book ratio, bulls hope there is more long-term upside ahead. 15 billionaires in our system reported owning Bank of America Corp (NYSE:BAC) as of September 30, up from 9 at the end of June.
#1 Home Depot Inc (NYSE:HD)
– Number of Billionaire Shareholders (as of September 30): 17
– Total Value of Billionaire Holdings (as of September 30): $2.68 billion
With 17 billionaires reporting a collective stake of $2.68 billion in the stock as of the end of September, up from 11 billionaires with $2.69 billion in HD holdings at the end of June, Home Depot Inc (NYSE:HD) is billionaire investors’ hottest stock on our list. While shares fell on a slightly soft Q3 earnings report, Home Depot remains on track to achieve $100 billion in sales by 2018. Analyst Michael Lasser of UBS thinks Home Depot’s quarterly comps show that it can sustain its earnings growth momentum, and has a $145 price target on the stock.