5 Best Performing S&P 500 Stocks in the Last 10 Years

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 79

10-Year Share Price Returns as of November 13: 2320%

Based in Austin, Texas, Tesla, Inc. (NASDAQ: TSLA), designs, develops, manufactures, sell and leases fully electric vehicles and energy generation and storage solutions. Its current portfolio of products includes Model 3 and Model S sedans, Model Y and Model X SUVs, while upcoming products include Cybertruck, Tesla Roadster and Tesla Semi – a light commercial vehicle.

Tesla, Inc. (NASDAQ: TSLA) produced 430,488 vehicles in Q3 2023 and delivered more than 435,000 vehicles during the same period. The company has six large scale manufacturing facilities across the world, including its first plant in California, and gigafactories across Nevada, New York, Shanghai, Texas, and Berlin.

In its Q2 2023 investor letter, Baron Funds, an investment management company, made the following comments about Tesla, Inc. (NASDAQ:TSLA):

“We continue to believe that Tesla is only scratching the surface of its potential. We regard announced partnerships between Tesla and its competitors in the quarter as important. In early June, Tesla agreed to provide Ford Motors access to Tesla’s electric vehicle (EV) charging technology and network. Other traditional and pure EV manufacturers, including General Motors, Rivian, and Volvo, quickly followed suit. We expect additional charging partnerships to ensue. In our view, these relationships validate Tesla’s charging technology and infrastructure as superior to other standards. Consolidation around a single technology should accelerate charging infrastructure deployment, diminish the risk of Tesla’s technology becoming obsolete, and lessen a key concern of hesitant EV purchasers.”