Alger Spectra Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. Class A shares of the Alger Spectra Fund outperformed the Russell 3000 Growth Index during the third quarter of 2020. You should check out Alger Spectra Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q3 2020 Investor Letter, Alger Spectra Fund Fund highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) is one of them. Apple Inc. (NASDAQ:AAPL) is a technology company. Year-to-date, Apple Inc. (NASDAQ:AAPL) stock gained 83.7% and on December 29th it had a closing price of $134.87. Here is what Alger Spectra Fund said:
“Apple is a leading technology provider in telecommunications, computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. This tight engagement is facilitating significant growth in high-margin services like streaming music. apps. and Apple Pay. Apple’s continued development of high-margin services and earnings streams for wearable devices as well as the potential contribution of 5G phones to the company’s growth supported the performance of Apple shares.”
In Q3 2020, the number of bullish hedge fund positions on Apple Inc. (NASDAQ:AAPL) stock increased by about 5% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Apple’s growth potential. Our calculations showed that Apple Inc. (NASDAQ:AAPL) is ranked #9 among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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Disclosure: None. This article is originally published at Insider Monkey.