Jonathan Bloomberg’s Top 5 Stock Picks

Below is the list of Jonathan Bloomberg’s top 5 stock picks. For a comprehensive list and detailed discussion about Jonathan Bloomberg’s investment philosophy and portfolio management strategies, please see Jonathan Bloomberg’s Top 10 Stock Picks.

5. Alphabet Inc. (NASDAQ:GOOG)

BloombergSen’s Stake Value: $112.4 million

Percentage of BloombergSen’s 13F Portfolio: 5.91% 

Number of Hedge Fund Holders: 155

The stock price of Google parent company Alphabet Inc. (NASDAQ:GOOG) grew more than 70% so far this year to get closer to the $3,000 mark for the first time in its history. The upside momentum is backed by strong financial numbers. The company earned $27.99 a share in the third quarter, while its revenue jumped 41% from a year ago to $65.12 billion. Jonathan Bloomberg first initiated a position in Alphabet in the first quarter of 2020. 

In the third quarter investor letter, Alger, an investment management firm, expressed confidence in Alphabet’s growth potential. Here is what Alger stated: 

“Alphabet Inc. was among the top contributors to performance during the third quarter. Alphabet is a leading internet search provider and is a beneficiary in the share shift of advertising dollars from traditional mediums like television, radio and newspapers to digital platforms. The company is a leader in implementing Al, autonomous vehicles and cloud computing it and owns the highly trafficked YouTube property. Alphabet contributed to performance due to a strong quarterly report highlighted by revenue growth that beat consensus expectations across segments. The company’s core search revenues have increased 10% over the past two years, with cloud computing increasing 8%. Results from YouTube also exceeded expectations. When discussing quarterly results, Alphabet management said retail, entertainment and travel were end markets that were particularly strong. The fixed cost structure of Alphabet’s search service resulted in profitability resulting from the increase in revenues being better than expected.”