12 Stocks Most Held by Hedge Funds

9. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Investors: 136

Founded in 2009, Uber Technologies, Inc. (NYSE:UBER) has revolutionized urban transportation and delivery services through its innovative app-based platform. The company offers a wide range of services, including ride-hailing, food delivery, and freight logistics, making it a key player in the gig economy.

Historically, Uber Technologies, Inc. (NYSE:UBER) has been most successful in major urban centers like New York, Sao Paulo, and London. However, recent trends show that growth in suburban and secondary cities is outpacing core urban areas. Recognizing this, Uber Technologies, Inc. (NYSE:UBER) has shifted its focus to improving service in these less dense regions. This involves enhancing the selection of available options, building increased supply and demand, and optimizing delivery and ride times. For instance, in the U.S., non-core cities account for 60-70% of the delivery market, and this segment is growing faster than city centers. By investing in these areas, Uber Technologies, Inc. (NYSE:UBER) aims to tap into a vast, underpenetrated market and drive sustainable growth over the next 2-3 years.

Another significant area of focus for Uber Technologies, Inc. (NYSE:UBER) is the integration of autonomous vehicle (AV) technology. The company has partnered with 14 different AV companies, including Google’s Waymo, to deploy self-driving vehicles in various markets. Uber Technologies, Inc. (NYSE:UBER) is planning to expand this partnership to other cities like Austin and Atlanta, where the number of AVs will significantly increase. By leveraging its global platform and fleet operations expertise, Uber Technologies, Inc. (NYSE:UBER) aims to enhance the efficiency and cost-effectiveness of AV deployments, ultimately driving greater adoption and incremental volume.