5 Best Stocks to Buy According to Stanley Druckenmiller

2. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156 

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology firm. At the end of the fourth quarter of 2021, Duquesne Capital owned 94,414 shares of the company worth $273 million, representing 9.91% of the portfolio. The fund decreased its stake in the tech giant by 20% during the fourth quarter compared to filings for the third quarter. 

Major hedge funds have backed Alphabet Inc. (NASDAQ:GOOG) stock to offer solid returns despite a broader lull around growth stocks. Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 2.9 million shares worth more than $7.8 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”