#9 Lockheed Martin Corporation (NYSE:LMT)
Number of Hedge Fund Investors: 75
ChatGPT bought Lockheed Martin at $563.69, and the stock is down 10.2% since then, Rallies data as of Oct. 14 shows. It is the smallest position in the portfolio at 3.7%. Lockheed Martin builds fighter jets, missiles and other defense systems. 75 hedge funds held it at the end of the second quarter, compared with 83 in the first quarter.
The stock gained 26% in the first quarter as the start of the U.S.–Iran conflict lifted defense spending expectations, RiverPark Large Growth Fund said in its letter. Click to read the RiverPark letter. Greenskeeper Asset Management then named Lockheed its second-largest detractor in the second quarter, when the stock fell 15.7%. See the Greenskeeper letter here.
