13 High Growth Large Cap Stocks To Invest In

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2. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 85

Average 5-Year Revenue Growth: 77.82%

PDD Holdings Inc. (NASDAQ:PDD) is a multinational commerce group that owns Pinduoduo, an e-commerce platform offering a wide range of products, and Temu, an online marketplace. Billionaire David Tepper’s Appaloosa LP raised its stake in PDD Holdings Inc. (NASDAQ:PDD) by 1% in the fourth quarter of 2024, adding 55,000 shares and bringing its total to 5.36 million. PDD now constitutes 8.1% of Appaloosa’s portfolio, making it the firm’s third largest holding.

In Q3 2024, PDD Holdings Inc. (NASDAQ:PDD) saw its revenue jump 44% year-over-year to RMB 99.4 billion, led by robust growth in online marketing and transaction services. The company brought in operating cash flow of  RMB 27.5 billion, slightly lower than the RMB 32.5 billion it generated during the same period last year. By the end of September 2024, PDD had RMB 38.5 billion in cash, cash equivalents, and short-term investments. It ranks 2nd on our list of the top high growth stocks to buy.

Among the hedge funds tracked by Insider Monkey’s Q4 database, 85 funds were bullish on PDD Holdings Inc. (NASDAQ:PDD), compared to 78 funds in the last quarter.

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