2 High-Conviction Growth Stocks That Billionaires Are Buying Hand Over Fist

The Nasdaq Composite entered a bear market in mid-March, and the losses accelerated in the second quarter as investors reacted to worsening inflation. By the end of June, the tech-heavy index was 31% off its high. But that didn't stop hedge fund managers John Overdeck and Steve Cohen from putting money into growth stocks.

In the second quarter, Overdeck increased his stake in Nvidia (NASDAQ: NVDA) more than fivefold, making it his sixth-largest position. And Cohen increased his stake in CrowdStrike Holdings (NASDAQ: CRWD) more than sevenfold, making it his fourteenth-largest position.

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Source Fool.com