Billionaire Jim Simons’ Top 5 Stock Picks

2. Baidu, Inc. (NASDAQ: BIDU)

Value: $1,857,472,000
Percent of Jim Simons’ 13F Portfolio: 2.01%
Number of Hedge Fund Holders: 51

Chinese internet giant Baidu ranks 2^nd on the list of billionaire Jim Simons’ top 10 stock picks. Baidu offers search engine, ads products, news platforms, games and various other internet and entertainment services. Earlier this year, Baidu announced its plans to foray in the lucrative EV market. The company will partner with auto company Geely to start making EVs.  The company has tapped bike-sharing company Mobike’s cofounder Xia Yiping as CEO of its EV segment.

Horos Asset Management said in their Q4 2020 investor letter that they reduced their position in Baidu, Inc. (NASDSAQ: BIDU) amid rising competition.

Here is what Horos Asset Management has to say about Baidu, Inc. in their Q4 2020 investor letter:

“We also reduced our exposure to the other Chinese technology giant we hold in our portfolio: Baidu. As we have already highlighted in prior letters, the company has managed—after some very challenging quarters—to refocus its services and develop its own ecosystem around its super app Baidu App, to face the threats posed by WeChat (Tencent), Alipay (Alibaba) and other recently created apps, which have huge acceptance and growth in the country. Finally, Baidu’s share price has rewarded these efforts, with a share price rise of over 100% since the March lows.”