5 Most Promising Metaverse Stocks To Buy According To Hedge Funds

In this piece, we will take a look at the five most promising metaverse stocks to buy according to hedge funds. To learn more about the latest developments in the metaverse, head on over to 11 Most Promising Metaverse Stocks To Buy According To Hedge Funds.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Investors In Q3 2023: 180

NVIDIA Corporation (NASDAQ:NVDA)’s GPUs, like AMD and QUALCOMM’s products, are also essential to powering up the metaverse. Courtesy of the hype surrounding artificial intelligence, it has been one of the best performing stocks this year by having posted more than 240% in year to date gains.

By the end of September 2023, 180 out of the 910 hedge funds profiled by Insider Monkey were NVIDIA Corporation (NASDAQ:NVDA)’s shareholders. Rajiv Jain’s GQG Partners was the biggest shareholder since it owned 14 million shares that are worth $6.1 billion.

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Investors In Q3 2023: 221

Alphabet Inc. (NASDAQ:GOOGL) is a diversified technology company courtesy of its Google business division. 2023 has been an eventful year for the firm when it comes to the metaverse as it has teamed up with a blockhain based metaverse company and introduced AR beauty products.

After digging through 910 hedge funds for their September quarter of 2023 shareholdings, Insider Monkey discovered that 221 had invested in the firm. Alphabet Inc. (NASDAQ:GOOGL)’s largest investor in our database is Ken Fisher’s Fisher Asset Management due to its $5.7 billion investment.

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

Number of Hedge Fund Investors In Q3 2023: 234

Meta Platforms, Inc. (NASDAQ:META) is the most bullish company on the metaverse as should be evident by its name. However, these plans appear to be geared for the long term, as its metaverse division Reality Labs has lost tens of billions of dollars since being set up in 2019.

During Q3 2023, 234 out of the 910 hedge funds surveyed by Insider Monkey were Meta Platforms, Inc. (NASDAQ:META)’s shareholders. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital owned the biggest stake which was worth $3.4 billion.

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

Number of Hedge Fund Investors In Q3 2023: 286

Amazon.com, Inc. (NASDAQ:AMZN) is an eCommerce and cloud computing company that is an un intuitive stock when it comes to the metaverse. However, the firm is one of the few in the industry that offers industrial grade metaverses that allow for virtual events, networking, and making 3D models.

By the end of this year’s third quarter, 286 out of the 910 hedge funds covered by Insider Monkey’s research had held a stake in the company. Amazon.com, Inc. (NASDAQ:AMZN)’s largest investor is Ken Fisher’s Fisher Asset Management due to its $5.2 billion stake.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Investors In Q3 2023: 306

Microsoft Corporation (NASDAQ:MSFT) is a technology behemoth with sizeable personal and cloud computing business divisions. Like Amazon, it is also focusing on industrial metaverses, and not only does it have a co innovation program for developing metaverse applications but it also announced a slew of upgrades to Teams that rely on the technology in November 2023.

306 out of the 910 hedge funds surveyed by Insider Monkey during Q3 2023 were Microsoft Corporation (NASDAQ:MSFT)’s shareholders. Michael Larson’s Bill & Melinda Gates Foundation Trust was the biggest shareholder due to its $12.4 billion stake.

Disclosure: None. You can also take a look at 14 Best Automation Stocks To Buy Now and Hedge Funds Say These Penny Stocks Are Poised to Explode.