5 Best Stocks To Buy Now According To Billionaire Chris Hohn

2. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 152

Chris Hohn’s hedge fund owns a $4.8 billion stake in Alphabet Inc. (NASDAQ:GOOG), as of the end of the fourth quarter of 2022. Over the past one year Alphabet Inc. (NASDAQ:GOOG) shares have lost about 25%. Alphabet Inc. (NASDAQ:GOOG) is under pressure amid AI threats posed by competitors and challenges in the advertising market.

Artisan Value Fund made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q4 2022 investor letter:

“Our biggest detractors in Q4 included communication services sector holdings Alphabet Inc. (NASDAQ:GOOG) and Warner Bros Discovery (WBD). For Alphabet, Google’s parent company, growth has decelerated as advertisers have pulled back on digital ad spend following a COVID-driven acceleration as well as due to economic uncertainties. Longer term, Alphabet remains well positioned to win in multiple ways, whether in search, online video or in the cloud. We continue to see large profit pools for Alphabet in the early stages of monetization, along with the migration of advertising dollars away from traditional mediums, like TV, to online search and video. These factors give us confidence Alphabet continues to have a long runway to grow revenue and profits. Additionally, management has returned capital to shareholders— another lever that can be used to increase the per share value of the business. We view Alphabet as one of the best businesses in the world, capable of expanding revenues at an above-average rate for years to come, with a bulletproof balance sheet and an average asking price. It’s a name we’ve held since 2015, and we believe Alphabet will continue to be a strong compounder of value in the future.”