5 Best Wide Moat Stocks To Buy According To Hedge Funds

In this piece, we will take a look at the five best wide moat stocks to buy according to hedge funds. If you want to learn more about economic moats, then head on over to 13 Best Wide Moat Stocks To Buy According To Hedge Funds.

5. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Investors: 99

Adobe Inc. (NASDAQ:ADBE) is an engineering, design, and productivity software provider that is a global name. Its products are used by most of the biggest companies in the world, providing it with a good economic moat and a sustainable competitive advantage.

During Q1 2023, 99 of the 943 hedge funds profiled by Insider Monkey had held a stake in Adobe Inc. (NASDAQ:ADBE). Ken Fisher’s Fisher Asset Management is the firm’s largest shareholder among these with an investment worth $1.8 billion.

4. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Investors: 136

Salesforce, Inc. (NYSE:CRM) is the world leader in customer relationship management and data analytics. The firm has consistently grown its EPS over the past four quarters and beaten analyst estimates as well. The shares are rated Buy on average with an average share price target of $241.

136 of the 943 hedge funds polled by Insider Monkey for their first quarter of  2023 investments had bought the firm’s shares. Salesforce, Inc. (NYSE:CRM)’s biggest hedge fund investor is Ken Fisher’s Fisher Asset Management since it owns $2.8 billion worth of shares.

3. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Investors: 204

It’s really not difficult to see why Alphabet Inc. (NASDAQ:GOOGL) has a wide economic moat. Not only does it operate the world’s largest search engine platform, but its investments in cloud computing and artificial intelligence leave it well set up for the technologies of the future.

As of March 2023, 204 of the 943 hedge funds part of Insider Monkey’s database had invested in Alphabet Inc. (NASDAQ:GOOGL). Ken Fisher’s Fisher Asset Management is the biggest shareholder among these due to a stake worth $4.3 billion.

2. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Investors: 220

Meta Platforms, Inc. (NASDAQ:META) is one of the biggest social media firms in the world. Its economic moat stems from the fact that it has 3 billion active users and the company can use their details to train artificial intelligence models for marketing and other purposes.

By the end of this year’s first quarter, 220 of the 943 hedge funds surveyed by Insider Monkey had held the firm’s shares.  Meta Platforms, Inc. (NASDAQ:META)’s largest hedge fund stakeholder is Philippe Laffont’s Coatue Management since it owns 8 million shares that are worth $1.7 billion.

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Investors: 243

Amazon.com, Inc. (NASDAQ:AMZN) is the largest electronic commerce retailer in the world. At the same time, it has positioned itself in a leadership role in the data center space and its subsidiary is gearing up to launch internet satellites as well.

243 of the 943 hedge funds part of Insider Monkey’s Q1 2023 research had bought and invested in Amazon.com, Inc. (NASDAQ:AMZN)’s stock. The firm’s biggest investor among these is Ken Fisher’s Fisher Asset Management with an investment of $4.2 billion.

Disclosure: None. You can also take a look at 10 Dow Stocks Billionaires Are Loading Up On and 25 Most Congested Cities in the US.

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