In this article, we discuss billionaire Lee Ainslie’s top 5 stock picks. To read about Ainslie’s journey from being a tiger cub to hedge fund manager, his investment philosophy and some interesting bits from his investor letters, go to Billionaire Lee Ainslie’s Top 10 Stock Picks.
5. Applied Materials, Inc. (NASDAQ: AMAT)
Percent of Lee Ainslie’s 13F Portfolio: 4.3%
Number of Hedge Fund Holders: 61
Lee Ainslie’s top 10 stock picks include Applied Materials Inc, a semiconductor company with a market cap of about $104 billion. The stock is up by 117% over the last 12 months. RBC recently upped its price target for Applied Materials from $95 to $140, citing upbeat quarterly results and the company’s bullish guidance of $70 billion value for the wafer front-end market. Financial services firm KeyBanc also increased its price target for the company from $104 to $144.
As of the end of the fourth quarter, 61 hedge funds in Insider Monkey’s database of 887 funds held stakes in Applied Materials Inc., compared to 59 funds in the third quarter. Generation Investment Management is the biggest stakeholder in the company, with 5.2 million shares, worth $452 million.