Top 5 Stock Picks of John Hempton’s Bronte Capital

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1. Alphabet Inc. (NASDAQ:GOOG)

Bronte Capital’s Stake Value: $120,058,000
Percentage of Bronte Capital’s 13F Portfolio: 13.76%
Number of Hedge Fund Holders: 153

Following interruptions in China caused by COVID-19 lockdowns and Beijing’s escalating tensions with the United States, the tech giant Alphabet Inc. (NASDAQ:GOOG) is considering shifting part of the manufacture of Pixel phones to India. Chris Hohn’s TCI Fund Management is the leading stakeholder of Alphabet Inc. (NASDAQ:GOOG-A), with 2.48 million shares worth $5.42 billion.

Ivan Feinseth, an analyst at Tigress Financial, increased his price target on Alphabet Inc. (NASDAQ:GOOG) to $186 from $183 on August 3 and maintained a ‘Strong Buy’ recommendation on the stock, citing the company’s Q2 results as evidence of the strength of its core businesses in Cloud and Search.

John Hempton’s Bronte Capital boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 3% in Q2 2022, holding about 55,091 shares worth $120.06 million, representing 13.76% of the total securities.

Overall, 153 hedge funds in the database of Insider Monkey owned positions in Alphabet Inc. (NASDAQ:GOOG) at the end of June, with a collective stake value of $22.30 billion. This was a decrease of 7 hedge funds from the previous quarter when 160 hedge funds owned stakes in Alphabet Inc. (NASDAQ:GOOG).

Here is what Baron Funds has to say about Alphabet Inc. (NASDAQ:GOOG-A) in its Q2 2022 investor letter:

“Alphabet Inc. is the parent company of Google, the world’s largest search and online advertising company. Shares of Alphabet declined 21.6% in the quarter due to concerns about slower global growth impacting the company’s core advertising business. We retain conviction in Alphabet’s merits as it continues to benefit from growth in mobile and online video advertising, which accrues to its core assets of search, YouTube, and the Google ad network. We are further encouraged by Alphabet’s investments in Cloud, AI, and Autonomous Driving (through its Waymo subsidiary).”

You can also take a peek at Top 10 Stock Picks of Glenn Greenberg’s Brave Warrior Capital and Top 10 Stock Picks of Cinctive Capital Management.

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