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Bank of America’s 15 Stock Picks for 2023

In this piece, we will take a look at Bank of America’s Top 15 Stock Picks for 2023. For more top stocks, head on over to Bank of America’s 5 Stock Picks for 2023.

2023 is turning out to be an interesting year for the stock market. After major technology and growth firms suffered massive losses on the market last year, within a month they have registered surprising gains that have questioned the pessimistic sentiment emanating from several quarters. For instance, while Tesla, Inc. (NASDAQ:TSLA)’s shares were among the worst performers of 2022, year to date, the stock has appreciated by a massive 86%. Yet, Tesla isn’t the only company making waves on the market. Two others, namely Meta Platforms, Inc. (NASDAQ:META) and Spotify Technology S.A. (NYSE:SPOT) lost more than half of their market capitalization last year. But lo and behold, as we settle into 2023, the duo’s shares are up by 47% and 51%, respectively. Quite a turnaround if you ask us, but still a long way to go to retake previous heights.

For the market as a whole, there are two key questions – both tightly related – that are on everyone’s minds. 2022 was marked by the Federal Reserve’s all out approach to battle inflation. This fight, fueled by rising interest rates, generates worries that the economy might head into a recession. So a debate on recession and interest rates continues to rage, and even investment banks have picked their sides. For instance, while The Goldman Sachs Group, Inc. (NYSE:GS) believes that a recession can be avoided, JPMorgan Chase & Co. (NYSE:JPM) is of the opinion that it is possible one will strike the economy later this year. Another optimist among us is President Joe Biden, who in a fresh interview given to PBS NewsHour’s Judy Woodruff, shared that not only does he not see a recession this year, but next year as well. President Biden simply responded to a question asking his thoughts on a recession this year by stating:

No. Or next year. From the moment I got elected, how many of the experts are saying within the next six months is going to be recession?

However, analysts at the Bank of America Corporation (NYSE:BAC) would like to disagree with the President. Not only do they believe that a recession is highly likely this year, but their strategy to deal with the uncertain economic outlook entails investing in bonds for the first half of this year and then switching to equities later on. The financial firm’s sentiment on recession is as follows:

A recession is all but inevitable in the U.S., Euro Area and UK: Expect a mild U.S. recession in the first half of 2023 with a risk that it starts later. Europe likely sees recession this winter [2022] with a shallow recovery thereafter as real incomes and likely overtightening pressure demand.

Yet, since it’s a sell side firm, Bank of America still has its favorite pick of stocks, and out of these, some of the best performing ones in 2023 so far are Chewy, Inc. (NYSE:CHWY), Warner Bros. Discovery, Inc. (NASDAQ:WBD), and Western Digital Corporation (NASDAQ:WDC).

Our Methodology

We scoured the Internet to find out which stocks are Bank Of America’s favorite picks for 2023. This included consulting SeekingAlpha (1, 2, 3, 4, 5, 6), Insider, and TipRanks. After this, the year to date gains for the stocks was calculated, and the top fifteen were narrowed down for the list.

Bank of America’s 15 Stock Picks for 2023

15. Ameriprise Financial, Inc. (NYSE:AMP)

Year to Date Share Price Growth as of February 8, 2023: 13.53%

Number of Hedge Fund Holders In Q3 2022: 35

Ameriprise Financial, Inc. (NYSE:AMP) is an American financial services company based in Minneapolis, Minnesota. The firm caters to the needs of both individual and institutional clients and provides services such as financial planning, accounts, and investment products.

Ameriprise Financial, Inc. (NYSE:AMP) scored a win recently when BlackRock decided to increase its stake in the company by 6.9% according to an SEC filing made in February 2023. 35 of the 920 hedge funds polled by Insider Monkey had held a stake in the company during Q3 2022.

Ameriprise Financial, Inc. (NYSE:AMP)’s largest investor in our database is Andreas Halvorsen’s Viking Global which owns 1.8 million shares that are worth $454 million.

Along with Warner Bros. Discovery, Inc. (NASDAQ:WBD), Chewy, Inc. (NYSE:CHWY), and Western Digital Corporation (NASDAQ:WDC), Ameriprise Financial, Inc. (NYSE:AMP) is a top performing Bank of America stock pick in 2023.

14. Toll Brothers, Inc. (NYSE:TOL)

Year to Date Share Price Growth as of February 8, 2023: 15.64%

Number of Hedge Fund Holders In Q3 2022: 32

Toll Brothers, Inc. (NYSE:TOL) is a luxury construction company. It makes and sells condos, bedroom suites, communities, and other properties. The company is headquartered in Fort Washington, Pennsylvania.

Toll Brothers, Inc. (NYSE:TOL) announced in February 2023 that it had opened a single family luxury home community in California, which consisted of 43 estate sized homes. Insider Monkey scoured through 920 hedge fund portfolios for last year’s third quarter to discover that 32 owned the company’s shares.

Out of these, Edward Wachenheim’s Greenhaven Associates is Toll Brothers, Inc. (NYSE:TOL)’s largest investor. It owns 5.3 million shares that are worth $267 million.

13. Amazon.com, Inc. (NASDAQ:AMZN)

Year to Date Share Price Growth as of February 8, 2023: 16.58%

Number of Hedge Fund Holders In Q3 2022: 269

Amazon.com, Inc. (NASDAQ:AMZN) is one of the world’s largest electronic commerce retailers, known for its website Amazon. The firm also has cloud computing, satellite internet, and consumer electronics divisions.

Another retail area that Amazon.com, Inc. (NASDAQ:AMZN) has recently started to aggressively target is pharmaceutical. Amazon Pharmacy, launched in 2020, lets consumers buy their medicines online and provide the firm with the necessary prescriptions. By the end of 2022’s September quarter, 269 of the 920 hedge funds polled by Insider Monkey had invested in Amazon.com, Inc. (NASDAQ:AMZN).

Amazon.com, Inc. (NASDAQ:AMZN)’s largest investor in our database is Ken Fisher’s Fisher Asset Management which owns 49.8 million shares that are worth $5.6 billion.

12. Match Group, Inc. (NASDAQ:MTCH)

Year to Date Share Price Growth as of February 8, 2023: 16.73%

Number of Hedge Fund Holders In Q3 2022: 54

Match Group, Inc. (NASDAQ:MTCH) is a software company headquartered in Dallas, Texas. The firm provides several software applications for online dating, with some of the more popular ones being Tinder and OkCupid.

Match Group, Inc. (NASDAQ:MTCH) hasn’t been performing well lately, as the firm’s latest financial results revealed in January 2023 that its flagship application Tinder’s revenue had dropped by 2% in the fourth quarter. 54 of the 920 hedge funds polled by Insider Monkey for the third quarter of last year had bought the firm’s shares.

11. The Mosaic Company (NYSE:MOS)

Year to Date Share Price Growth as of February 8, 2023: 17.31%

Number of Hedge Fund Holders In Q3 2022: 46

The Mosaic Company (NYSE:MOS) is a fertilizer company. The firm makes and sells phosphate based fertilizer and animal feed, alongside operating its own mines to extract the raw materials for its products.

The Mosaic Company (NYSE:MOS) is currently at the center of attention for wanting to mine 18,000 acres of land in Florida, but its workshops held for the project failed to win over residents. Insider Monkey’s 920 hedge fund survey for Q3 2022 revealed that 46 had invested in the company.

The Mosaic Company (NYSE:MOS)’s largest investor is Eric W. Mandelblatt’s Soroban Capital Partners which owns 6.8 shares that are worth $332 million.

10. Fox Corporation (NASDAQ:FOXA)

Year to Date Share Price Growth as of February 8, 2023: 17.41%

Number of Hedge Fund Holders In Q3 2022: 32

Fox Corporation (NASDAQ:FOXA) is a media and entertainment company. The firm owns and operates film production facilities, television channels, and distribution services.

Fox Corporation (NASDAQ:FOXA) was in the news lately after it decided to cancel its merger with News Corporation in January 2023. However, according to the firm’s CEO, the deal falling through does not mean his firm is uninterested in pursuing other deals. 32 of the 920 hedge fund portfolios studied by Insider Monkey in 2022’s third quarter had held a stake in the firm.

Fox Corporation (NASDAQ:FOXA)’s biggest investor is Donald Yacktman’s Yacktman Asset Management which owns 8.6 million shares that are worth $247 million.

9. SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Year to Date Share Price Growth as of February 8, 2023: 18.69%

Number of Hedge Fund Holders In Q3 2022: 23

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) is a biotechnology company based in Stamford, Connecticut. It develops treatments for tumors and genetic mutations.

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) made progress for its tumor treatments in December 2022 when it submitted a New Drug Application to the FDA. Insider Monkey’s September quarter of 2022 survey covering 920 hedge funds outlined that 23 had invested in the company.

8. Chipotle Mexican Grill, Inc. (NYSE:CMG)

Year to Date Share Price Growth as of February 8, 2023: 19.42%

Number of Hedge Fund Holders In Q3 2022: 45

Chipotle Mexican Grill, Inc. (NYSE:CMG) is a hospitality firm that operates fast food restaurants in the U.S., Canada, U.K., Germany, and France. It is headquartered in Newport Beach, California.

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s fourth quarter of 2022 earnings results revealed in February 2023 saw the firm miss analyst expectations for revenue, earnings, and in store sales. 45 of the 920 hedge funds polled by Insider Monkey in Q3 2022 had invested in the firm.

Bill Ackman’s Pershing Square is Chipotle Mexican Grill, Inc. (NYSE:CMG)’s largest investor with a $1.6 billion stake that comes via 1.1 million shares.

7. Applied Materials, Inc. (NASDAQ:AMAT)

Year to Date Share Price Growth as of February 8, 2023: 19.87%

Number of Hedge Fund Holders In Q3 2022: 67

Applied Materials, Inc. (NASDAQ:AMAT) is a backend semiconductor firm that provides chip manufacturers with different equipment involved in manufacturing and checking chips for quality control.

Applied Materials, Inc. (NASDAQ:AMAT) announced a new chip inspection technology in February 2023, through which it aims to streamline the yield control process in n semiconductor fabrication. Insider Monkey surveyed 920 hedge funds for their holdings in 2022’s third quarter to discover that 67 had bought the firm’s shares.

Applied Materials, Inc. (NASDAQ:AMAT)’s largest shareholder is David Blood and Al Gore’s Generation Investment Management which owns 6.7 million shares that are worth $549 million.

6. PulteGroup, Inc. (NYSE:PHM)

Year to Date Share Price Growth as of February 8, 2023: 20.15%

Number of Hedge Fund Holders In Q3 2022: 29

PulteGroup, Inc. (NYSE:PHM) is a residential construction firm headquartered in Atlanta, Georgia. The firm makes and sells different residential properties such as single family homes, condominiums, and duplexes.

PulteGroup, Inc. (NYSE:PHM) made a heartwarming announcement in February 2023 when it revealed that it had awarded a U.S. Air Force veteran a mortgage free home in Florida. 29 of the 920 hedge funds polled by Insider Monkey had invested in the firm in Q3 2022.

Natixis Global Asset Management’s Harris Associates is PulteGroup, Inc. (NYSE:PHM)’s largest investor with a $223 million stake that comes via 5.9 million shares.

Chewy, Inc. (NYSE:CHWY), PulteGroup, Inc. (NYSE:PHM), Warner Bros. Discovery, Inc. (NASDAQ:WBD), and Western Digital Corporation (NASDAQ:WDC) are some of Bank of America’s top performing 2023 stocks.

Click to continue reading and see Bank of America’s 5 Stock Picks for 2023.

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Disclosure: None. Bank of America’s 15 Stock Picks for 2023 is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

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