5 Most Profitable Lithium Stocks Now

2. General Motors Company (NYSE:GM)

Latest TTM Net Income: $9.93 billion

Number of Hedge Fund Holders: 66

General Motors Company (NYSE:GM) is a leading multinational automotive corporation involved in the manufacturing and global distribution of trucks, crossovers, cars, and automotive parts and accessories. The company oversees prominent brands such as Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, and Wuling.

In August 2023, General Motors Company (NYSE:GM) announced its leadership role in a $60 million investment in Mitra Chem, a two-year-old company based in Mountain View, California. Mitra Chem specializes in leveraging artificial intelligence to accelerate the development of lithium-ion battery materials. This collaboration aims to assist GM in advancing iron-based cathode active materials, including lithium manganese iron phosphate (LMFP), for potential integration into some of GM’s next-generation Ultium batteries post-2025.

As of the end of the third quarter of this year, 68 out of 910 hedge funds monitored by Insider Monkey’s database had also invested in General Motors Company (NYSE:GM) shares. The most significant investor is Natixis Global Asset Management’s Harris Associates, holding a substantial $1.17 billion investment.

Patient Capital Opportunity Equity Strategy made the following comment about General Motors Company (NYSE:GM) in its Q2 2023 investor letter:

“We like other names mostly ignored by the market for similar reasons. Names like Expedia (EXPE), General Motors Company (NYSE:GM), and Delta Air Lines. These companies have strong returns on capital (14%+), good competitive positions, cheap valuations (all double-digit free cash flow yields), and are returning capital to shareholders. We trust the managements to take advantage of their depressed stock prices and create long-term shareholder value.”