Top 3 Stocks to Buy According to Alexis Fortune’s Blacksheep Fund Management

2. Alphabet Inc. (NASDAQ:GOOGL)

Blacksheep Fund Management’s Stake Value: $138.4 million

Percentage of Blacksheep Fund Management’s 13F Portfolio: 18.35%

Number of Hedge Fund Holders: 190

Google parent Alphabet Inc. (NASDAQ:GOOGL) is one of the top stocks to buy for the long term. Blacksheep increased its existing stake in Alphabet Inc. (NASDAQ:GOOGL) by 51% recently, making it the second-largest stock holding in its 13F portfolio. The share price of Alphabet Inc. (NASDAQ:GOOGL) surged 78% since the beginning of this year. 

Alger, an investment management firm, mentioned a few stocks including Alphabet Inc. (NASDAQ:GOOGL) in the third quarter investor letter. 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.”