Bill Gates is currently the 8th richest person in the world with a net worth of over $121 billion. Microsoft Corporation (NASDAQ:MSFT). Since stepping down as CEO of Microsoft, Gates has invested in several assets to increase his wealth.
Gates' investment portfolio currently holds 75 stocks and was valued at $38.91 billion as of November 14th. Several prominent billionaires have also invested in Gates' holdings, reflecting the resilience of large-cap stocks in volatile market conditions.
Although each billionaire investor has a unique approach, most of them have significant stakes in the market's biggest tech stocks. These technology giants that have dominated the market have stood the test of time. As macroeconomic headwinds persist, including concerns about an economic slowdown and uncertainty over the rate cut schedule, following the billionaires' cues could be beneficial.
Let's take a closer look at some blue-chip stocks that are not only attractive to Gates, but are also attracting the attention of fellow billionaires.
Microsoft Corporation
Gates owns 1.38% of Microsoft's total outstanding shares. Magnificent Seven stock dominated the tech industry last year, luring investors with its strategic investment in OpenAI and acquisition of Activision Blizzard. Microsoft stock has risen more than 6% since the beginning of the year, outpacing the 2% rise in the tech-heavy Nasdaq Composite Index since the beginning of the year.
The company's growth potential attracted several other billionaires as well. Billionaire portfolio manager Ken Fisher bought more than 560,000 Microsoft shares in the third quarter of 2023, bringing his total holdings to about 24.9 million. Microsoft is the second-largest holding in Mr. Fisher's portfolio. Fisher's Fisher Asset Management manages more than $236 billion in assets.
Stephen Cohen, founder and CEO of hedge fund firm Point72 Asset Management, also bought more than 203,000 shares of Microsoft stock in the third quarter ended Sept. 30. Cohen owns 2.03 million Microsoft shares, representing 2.18% of his total portfolio.
Citadel founder and CEO Ken Griffin also bought about 1.63 million Microsoft shares in the third quarter, increasing his stake in the tech giant by 47.9%.
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Apple.
Mr. Gates purchased approximately 52,815 shares. Apple. (NASDAQ:AAPL)Q3. The Microsoft co-founder joined the Apple bandwagon relatively late, as many billionaires already have significant exposure to the tech giant. Warren Buffett, one of the most influential investors of this generation, considers Apple one of his crown jewels, claiming the business is “better than any other company we own.” are doing.
Buffett owns more than 915 million shares, or 5.9% of Apple stock, making it his largest portfolio holding. The last time he bought Apple stock was in the first quarter of 2023.
Mr. Fisher increased his holdings in Apple stock in the third quarter, acquiring more than 878,000 shares. Apple is Fisher Asset Management's largest holding, accounting for 5.25% of the total portfolio.
Apple's stock price has plummeted this year due to concerns about slowing demand for Apple products. Amid tensions between the US and China, the tech giant is strategically moving production to India given concerns about Apple's sales in China. The company aims to produce nearly 25% of its iPhones in Southeast Asia.
Bank of America upgraded Apple stock to buy on January 18th and set a price target of $225. This represents a potential upside of over 17%.
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This article, “Tracing the Billionaires' Trail: Revealing the Stocks Bill Gates and Other Bigwigs Share” originally appeared on Benzinga.com.
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