In this article, we discuss the 2 stocks to consider in the latest portfolio of Nancy Pelosi. If you want to read our detailed analysis of these stocks, go directly to Nancy Pelosi Latest Portfolio: Stocks to Watch.
2. Salesforce.com, Inc. (NYSE:CRM)
Number of Hedge Fund Holders: 119
Salesforce.com, Inc. (NYSE:CRM) provides enterprise cloud computing solutions. Latest filings show that Pelosi purchased 130 CALL options on Salesforce.com, Inc. (NYSE:CRM) stock with a strike price of $210 on December 20 with an expiration date of January 2023. The purchase cost was between $500,000 and $1, 250,000. The transaction was disclosed on the same day it was made. Salesforce.com, Inc. (NYSE:CRM) stock, as of January 12, is trading at $234 per share.
Salesforce.com, Inc. (NYSE:CRM) has attracted interest from top hedge funds in the past few months as spending on IT infrastructure and cloud increases in the wake of the pandemic. At the end of the third quarter of 2021, 119 hedge funds in the database of Insider Monkey held stakes worth $14.9 billion in Salesforce.com, Inc. (NYSE:CRM), up from 108 in the preceding quarter worth $11.7 billion.
In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Salesforce.com, Inc. (NYSE:CRM) was one of them. Here is what the fund said:
“We added to our software-as-a-service (SaaS) exposure with the initiation of SaaS leader salesforce.com, which develops software for customer relationship management (we added Workday, which enterprise resource planning applications, last quarter). Saleforce.com is well-positioned in the most attractive end markets in software and will benefit from secular drivers such as remote work and the digital transformation. Salesforce.com is a sustainability leader as well, with a commitment to carbon-neutral cloud, toward which it has set a goal of 100% renewable energy for global operations by fiscal year 2022. The company has a strong focus on equality, in terms of equal rights, pay, education and opportunity. As a data company it has been leading on workforce disclosures and seeks to have 50% of its U.S. workforce made up of underrepresented groups by 2024.”
1. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 156
Alphabet Inc. (NASDAQ:GOOG) is one of the biggest tech companies in the world, the primary claim to fame being the operations of internet search engine Google. Alphabet Inc. (NASDAQ:GOOG) has been a hedge fund favorite for many years. Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 2.9 million shares worth more than $7.8 billion.
A Periodic Transaction Report from December 29 shows that Pelosi acquired 10 CALL options on Alphabet Inc. (NASDAQ:GOOG) stock with a strike price of $2000 on December 17 with an expiration date of September 2022. The purchase cost between $500,000 and $1 million. As of January 12, Alphabet Inc. (NASDAQ:GOOG) stock was trading at $2,800 per share.
In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:
“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”
You can also take a peek at Stanley Druckenmiller is Loading Up on These 15 Stocks and 10 Stocks to Buy and Hold for Long Term According to Warren Buffett.
