Billionaire Jim Simons’ 2023 Portfolio: Top 5 Stock Picks

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In this article, we discuss billionaire Jim Simons’ top 5 stock picks in 2023. If you want to see more stocks in this selection, check out Billionaire Jim Simons’ 2023 Portfolio: Top 15 Stock Picks

5. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 54

Renaissance Technologies’ Stake Value: $753,187,000

Airbnb, Inc. (NASDAQ:ABNB) runs a platform that allows hosts from around the world to offer accommodations and experiences to guests. In Q1 2023, Jim Simons’ Renaissance Technologies held 6.05 million shares of Airbnb, Inc. (NASDAQ:ABNB), worth over $753 million and representing 0.99% of the total 13F securities. It is one of the top stock picks of Jim Simons’ fund. 

On May 9, Airbnb, Inc. (NASDAQ:ABNB) reported a Q1 GAAP EPS of $0.18 and a revenue of $1.82 billion, topping Wall Street estimates by $0.08 and $30 million, respectively. The company’s board also authorized a new share repurchase plan, allowing the repurchase of up to $2.5 billion worth of class A common stock.

KeyBanc analyst Justin Patterson maintained an Overweight rating on Airbnb, Inc. (NASDAQ:ABNB) but decreased the firm’s price target on the shares from $144 to $135. The analyst acknowledged that Airbnb, Inc. (NASDAQ:ABNB)’s Q1 results were satisfactory, but the Q2 guidance has fueled concerns among some investors. 

According to Insider Monkey’s fourth quarter database, 54 hedge funds were long Airbnb, Inc. (NASDAQ:ABNB), compared to 58 funds in the earlier quarter. Two Sigma Advisors is a prominent stakeholder of the company. 

Artisan Developing World Fund made the following comment about Airbnb, Inc. (NASDAQ:ABNB) in its Q1 2023 investor letter:

“Top contributors to performance for the quarter included online travel marketplace Airbnb, Inc. (NASDAQ:ABNB). Airbnb outperformed on the resilience of the travel category including for long-term stays, and on operating leverage as cost optimization is met with revenue increases. Notably, our top four holdings entering the quarter (Sea, Meli, Nvidia, Airbnb) which represented 24.37% of capital on December 31, 2022, increased an average of 64.42% during the quarter.”

Follow Airbnb Inc. (NASDAQ:ABNB)

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