This Billion Dollar Hedge Fund’s Top Tech Picks

#3 Priceline Group Inc (NASDAQ:PCLN)

 – Shares held (as of September 30): 33,376
– Total Value (as of September 30): $41.28 million

Priceline Group Inc (NASDAQ:PCLN) shares are up by 12% year-to-date, as analysts remain bullish on the company. 13 analysts have ‘Buy’ ratings on the stock, while seven have ‘Hold’ ratings, with them having a consensus price target of $1,471 between them. The buy-side smart money is also bullish on the online travel reservation and search site. Of the 730 elite funds that we track, 86 of them owned $7.08 billion worth of Priceline shares on September 30, good for 11.3% of the float. Among the believers is Larry Robbins‘ Glenview Capital, with a holding of 209,470 Priceline shares at the end of the third quarter.

#2 Facebook Inc (NASDAQ:FB)

 – Shares held (as of September 30): 459,718
– Total Value (as of September 30): $41.33 million

Although CEO Mark Zuckerberg recently wrote in an open letter that he will donate 99% of his Facebook Inc (NASDAQ:FB) holdings to a charitable LLC, Zuckerberg’s actions are unlikely to affect the favorable supply and demand balance of Facebook. Zuckerberg is only 31 and his selling will likely not account for much of the daily volume. After almost a decade of being on top, Facebook is still dominating the social networking space and now, more recently, the messaging space. Because of Zuckerberg’s wise move to buy Whatsapp in 2014, Facebook now has a majority share of the messaging app sector, which has lately eclipsed the social networking space in terms of active users. Facebook’s Whatsapp and Messenger have plenty of room to monetize as their functionality begins to catch up with Tencent’s WeChat.

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

 – Shares held (as of September 30): 81,744
– Total Value (as of September 30): $41.84 million

Amazon.com, Inc. (NASDAQ:AMZN) is fast becoming the everything store. The company started as a boring online book seller, and started selling other tangential products several years later. Twenty years after its founding, Amazon sells nearly everything, from videos, to cloud services, and diapers. Although Jet.com recently raised half-a-billion dollars to try to take Amazon.com down, the startup faces long odds, as Amazon.com has industry-leading efficiency, the sector’s brightest engineers, and a customer-first culture. Among the savvy investors who recently bought into Amazon are Stan Druckenmiller of Duquesne Capital and Stephen Mandel’s Lone Pine Capital. Not to be left out, Zweig-DiMenna Associates upped its stake by 77% to 81,744 shares during the third quarter.

Disclosure: None