In this article, we will take a look at the 5 best performing S&P 500 stocks in the last 10 years. To read our analysis of the recent trends, and market activity, you can go to the 12 Best Performing S&P 500 Stocks in the Last 10 Years.
5. Cadence Design Systems, Inc. (NASDAQ:CDNS)
Number of Hedge Fund Holders: 68
10-Year Share Price Returns as of November 13: 1960%
San Jose, California-based Cadence Design Systems, Inc. (NASDAQ:CDNS) is a leader in electronic systems design using its Intelligent System Design™ strategy to deliver computational software, hardware, and IP. It offers software, hardware, services, and reusable IC design blocks to its customers.
On November 2, Cadence Design Systems, Inc. (NASDAQ:CDNS) announced the new Cadence® Voltus™ InsightAI, the industry’s first generative AI technology that identifies the root cause of EM-IR drop violations early in the design process and selects and implements the most efficient fixes to improve power, performance, and area (PPA).
As of Q2 2023, 68 prominent hedge funds owned Cadence Design Systems, Inc. (NASDAQ:CDNS) shares valued at a combined total of $3.3 billion. Arrowstreet Capital was the leading hedge fund shareholder, followed closely by Alkeon Capital Management and Viking Global.
4. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 72
10-Year Share Price Returns as of November 13: 1990%
San Jose, California-based Broadcom Inc. (NASDAQ:AVGO) is a global technology leader that designs, develops, and supplies semiconductor and infrastructure software solutions. Its solutions include data center networking and storage, enterprise, mainframe, and cybersecurity software focused on automation, monitoring and security, smartphone components, telecoms, and factory automation.
On May 26, 2022, Broadcom Inc. (NASDAQ:AVGO) announced that it had agreed to acquire VMware, Inc. (NYSE:VMW), a leading enterprise software solutions provider, in a cash and stock transaction valued at $61 billion. The transaction has received approvals from stockholders as well as all the necessary regulatory jurisdictions, according to the company. The company expects the transaction to close soon.
As of Q2 2023, Broadcom Inc. (NASDAQ:AVGO) was a common component of the portfolios of 72 hedge funds out of the 910 tracked by Insider Monkey. Ken Fisher’s Fisher Asset Management held the most amount of shares among hedge funds, with ownership of nearly 2.0 million shares valued at $1.7 billion.
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.”
2. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 112
10-Year Share Price Returns as of November 13: 3200%
Based in Santa Clara, California, Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company using high-performance computing, graphics, and visualization technologies to provide computing solutions for cloud, edge, and end devices.
On October 10, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced the signing of a definitive agreement to acquire Nod.ai to expand the company’s open AI software capabilities. Earlier this year in August, the company acquired Mipsology, and AI software company with proven expertise delivering AI software and solutions running on top of AMD adaptive computing silicon.
As of Q2 2023, 112 hedge funds tracked by Insider Monkey held shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), worth $6.9 billion. Ken Fisher’s Fisher Asset Management was its largest hedge fund shareholder with ownership of 27 million shares valued at $3.1 billion.
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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