Five Stocks Hedge Funds Are Piling Into

Both of Alphabet Inc (NASDAQ:GOOGL)’s Class A and Class C stocks ranked among the top five stocks, which makes the company the most popular, even though the stocks ranked on the second and fourth places, respectively. A total of 139 funds tracked by us held around $14.62 billion worth of class A stock and 126 funds amassed $12.49 billion worth of class C shares. During the fourth quarter, the number of funds long class A stock advanced by two, while the number of investors holding class C shares declined by eight. The aggregate values of their positions declined by 1% and 10% over the quarter, respectively. Alphabet Inc (NASDAQ:GOOGL)’s, the leader in online advertising, which constitutes its core business, is also engaged in a number of other projects, one of which is Waymo, a recently formed company that develops self-driving technology. Waymo has been in the spotlight recently over a lawsuit against Otto, a self-driving trucking company, and Uber, which has acquired it, in which Waymo claims that they have stolen its design for LiDAR. Otto was co-founded by former Waymo employee, Anthony Levandowski, and Waymo claims that Mr. Levandowski downloaded confidential filed and trade secrets. Viking Global, Fisher Asset Management, Dan Loeb‘s Third Point, and Philippe Laffont’s Coatue Management owned substantial positions in Alphabet Inc (NASDAQ:GOOGL)’s’s both class A and Class C stocks heading into 2017.

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