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

1. NVIDIA Corp (NASDAQ:NVDA)

Number of Hedge Fund Holders: 175

10-Year Share Price Returns as of November 13: 11940%

NVIDIA Corporation (NASDAQ:NVDA) is a leading technology company focused on the design and manufacturing of accelerated computing hardware and software products. Its core businesses comprise of Gaming, Data Center, Professional Visualization, and Automotive, with Gaming and Data Center making up for more than 80% of its revenues.

NVIDIA Corporation (NASDAQ:NVDA) has had a stellar year so far with share price up more than 236.28% year-to-date as of November 8. Much of this can be attributed to record growth in top and bottom line figures led by increased demand for its data center products to cater to the AI-induced demand.

NVIDIA Corporation (NASDAQ:NVDA) is the best performing S&P 500 stock in the last 10 years based on its performance. In addition, the stock also ranks highest on our list based on the number of hedge funds that hold its shares. As of June 30, the stock was owned by 175 prominent hedge funds out of the 910 tracked by Insider Monkey, with a total value of $26 billion. Its largest shareholder was Rajiv Jain’s GQG Partners with ownership of 14 million shares valued at $5.9 billion.

In its Q3 2023 investor letter, Baron Funds, an investment management firm, made the following comments about NVIDIA Corporation (NASDAQ:NVDA):

“After raising its revenue and EPS guidance for 2023 by 40% and 69%, respectively, following its last quarter, NVIDIA increased it further by 26% and 35%, respectively, after reporting the most recent one. Consensus expectations now call for revenues to grow 94% this year, while earnings per share are expected to increase by 192%. You may have seen these kinds of growth rates before, but we doubt you saw them from a company generating $50 billion in revenues. The skeptics who continue to question and doubt the accelerating demand for Generative artificial intelligence (AI) forgot to tell NVIDIA about it.”

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