Billionaire David Shaw’s Quant Models Love These 5 Stocks

4. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 79
D.E Shaw’s Stake Value: $1.23 Billion
Percent of Portfolio: 1.26%

Headquartered in Austin, Texas, Tesla, Inc. (NASDAQ:TSLA) designs, develops and manufactures electric vehicles, energy generation and storage systems. It has always been one of Shaw’s top quant investing stocks owing to its edge in the electric vehicle space.

Tesla, Inc. (NASDAQ:TSLA) is benefiting from its first mover advantage as the pioneer of electric cars. The stock is already up by more than 90% for the year, having emerged as the go-to stock for gaining exposure to EVs amid the transition from gasoline cars.

By the end of the second quarter of 2023, Tesla, Inc. (NASDAQ:TSLA) had attracted the interest of many hedge funds Insider Monkey monitored. The company, a pioneer in electric vehicles and clean energy solutions, had 79 hedge funds in their database that owned stakes. The most prominent stakeholder was ARK Investment Management, a firm that focuses on disruptive innovation and is led by Catherine D. Wood. The firm had 4.8 million shares of Tesla, worth $1.27 billion.

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