Dear Fellow Investor,
The rich just keep getting richer.
It’s an old saying and one that might even be a little cliche…
But it’s hard to deny that the mega-rich seem to be getting…well… mega-richer these days.
- Between just March and June 2020, the combined wealth of U.S. billionaires has increased by $637 billion.
- Amazon (AMZN) founder Jeff Bezos alone is now worth in excess of $200 billion (and that’s after getting divorced and giving the equivalent of $60 billion to his ex-wife!).
- Elon Musk has seen his wealth quadruple, as Tesla’s (TSLA) stock surged, to a staggering $100 billion.
And this is all at a time when 40 million Americans have filed for unemployment.
But, as another saying goes, we here at Bottom Line Investing figure: If you can’t beat them, why not join them?
We took a look at three multibillion-dollar hedge funds to see where they put their money in the second quarter, according to SEC filings, and came up with 13 top stocks.
Jim Simmons’ Renaissance Technologies Hedge Fund is invested heavily in the service sector with four of his top six investments being in pharmaceuticals. Those being Bristol Myers Squibb(BMY), Novo Nordisk S A(NVO), Abbvie Inc.(ABBV), and Vertex Pharmaceuticals Inc./MA(VRTX).
Carl Icahn’s Icahn Capital LP appears somewhat more diversified, as he includes the farming, mining, and agricultural sector in his portfolio. His portfolio leans heavily on financial services though as one-half of his assets are in finance. His greatest investment is in himself, Icahn Enterprises L.P.(IEP), followed by Occidental Petroleum Corporation(OXY), Herbalife Nutrition LTD.(HLF), and CVR Energy Inc.(CVI).
Fisher Asset Management headed by Steve Fisher manages over $100 billion in assets and is heavily invested in the service sector as well. They put a lot of money into tech, financial, and healthcare stocks. Amongst those the fund is invested in are
some familiar names, Apple(AAPL), Amazon(AMZN), Microsoft(MSFT), Visa(V), and Vanguard Scottsdale Funds.
Bottom Line: The richest Americans have added over $600 billion to their net worths this year. This is thanks almost entirely to rising stock prices.
We here at Bottom Line Investor think that’s reason enough to give strong consideration to any shares they’re adding to their portfolios.
While the media is focusing on Elon Musk’s rocket launch…
Or the latest news about Tesla…
Behind the scenes, he’s quietly doing something unbelievable.
Take a look:
You simply need to see this for yourself…
Click here now.