Top 5 Stock Picks of Billionaire Louis Bacon

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Below is the list of top 5 stock picks of billionaire Louis Bacon. For a detailed discussion about Louis Bacon’s investment philosophy and portfolio management strategy please see Top 10 Stock Picks of Billionaire Louis Bacon.

5. ServiceNow, Inc. (NYSE:NOW)

Moore Global Investments’ stake value: $56 million

Percentage of Moore Global Investments’ portfolio: 1.11%

Number of hedge fund holders: 90

During the pandemic year and in the first half of 2021, ServiceNow, Inc. (NYSE:NOW) was one of the best-performing stocks, and Moore Capital benefited from the price surge by holding a large stake in the software company. However, the firm reduced its stake in the company in the past two consecutive quarters to take advantage of the recent share price run.

In the fourth quarter investor letter, ClearBridge Investments, an investment management firm, highlighted its confidence in the company. Here is what the firm stated:

“Offsetting the consumer slowdown, the Strategy benefited from resilience among its disruptive IT and communications holdings serving the enterprise market. ServiceNow is also a strong performer in helping businesses streamline their workflows and enhance customer relationships and marketing.”

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