5 Best Cyclical Stocks to Buy Now

In this piece, we will take a look at the five best cyclical stocks to buy now. For more stocks, head on over to 15 Best Cyclical Stocks to Buy Now.

5. General Motors Company (NYSE:GM)

Number of Hedge Fund Investors In Q4 2022: 80

General Motors Company (NYSE:GM) is one the largest automakers in the world. The firm is headquartered in Detroit, Michigan and it makes and sells a variety of vehicles such as cars and sports utility vehicles. General Motors Company (NYSE:GM) is also one of the oldest carmakers in the world since it was set up in 1908.

Insider Monkey profiled 943 hedge fund portfolios and found out that 80 had bought the company’s shares in Q4 2022. Diamond Hill Capital mentioned the firm in its Q3 2022 investor letter as it shared that:

Most recently, we initiated a position in General Motors Company (NYSE:GM), one of the largest automakers in the United States. Over the past several years, GM has taken the steps necessary to focus the company on the most profitable segments and move into a position to compete in an electrified and autonomous world. With the recent rise in interest rates, there was a meaningful selloff in the auto industry, which presented us an attractive entry point to a name we know well.

4. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Investors In Q4 2022: 83

Booking Holdings Inc. (NASDAQ:BKNG) is a travel services company that owns and operates an online platform. This allows its customers to search for accommodation for their travel destinations. The company is headquartered in Norwalk, Connecticut.

As of last year’s fourth quarter, 83 out of the 943 hedge funds part of Insider Monkey’s database had bought Booking Holdings Inc. (NASDAQ:BKNG)’s shares. Out of these, the firm’s largest shareholder is Natixis Global Asset Management’s Harris Associates which owns 515,271 shares that are worth $1 billion.

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Investors In Q4 2022: 91

Tesla, Inc. (NASDAQ:TSLA) is the world’s largest electric vehicle manufacturer. The firm makes and sells different models of passenger electric cars and it is also developing its own electric truck. Tesla, Inc. (NASDAQ:TSLA) is headquartered in Austin, Texas.

Insider Monkey’s fourth quarter of 2022 survey covering 943 hedge funds found that 91 had held a stake in the company. Tesla, Inc. (NASDAQ:TSLA)’s largest shareholder is Ken Griffin’s Citadel Investment Group which owns 7.5 million shares that are worth $926 million.

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Investors In Q4 2022: 113

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese holding company with stakes in a wide variety of businesses such as electronic commerce, the internet of things (IoT), and media. The company is headquartered in Hangzhou, the People’s Republic of China.

113 of the 943 hedge funds polled by Insider Monkey had owned Alibaba Group Holding Limited (NYSE:BABA)’s shares during last year’s December quarter. Out of these, its largest investor is Philippe Laffont’s Coatue Management which owns five million shares that are worth $440 million.

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Investors In Q4 2022: 240

Amazon.com, Inc. (NASDAQ:AMZN) is the largest electronic commerce retailer in the world. It is headquartered in Seattle, Washington.

By the end of 2022’s fourth quarter, 240 of the 943 hedge funds polled by Insider Monkey had bought a stake in the company. Amazon.com, Inc. (NASDAQ:AMZN)’s largest shareholder is Ken Fisher’s Fisher Asset Management which owns 50 million shares that are worth $4.2 billion.

Disclosure: None. The author received no additional compensation for this piece except for what is typically made by Insider Monkey. You can also take a look at 10 High-Growth Lithium Stocks to Buy and 13 Best Asian Stocks To Buy Today.

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