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Top 1% Fund Bet on Tesla Stock Just Before the Big Bounce

  • Hyperion invests in firms thriving in low-growth environment
  • Fund’s top holdings include Microsoft, Amazon.com, Visa
Tesla Inc. Supercharging Stations As Musk Mulls Privatisation Plans
Photographer: Stefan Wermuth/Bloomberg
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A top fund manager added Tesla Inc. shares just before the stock’s meteoric rise sent its market cap to $160 billion.

Hyperion Asset Management Ltd., whose Global Growth Companies Fund has returned 28% over the last three years and beat 99% of peers, had eyed Tesla for about three to four years and decided to invest after the company reached a turning point last year, when its free cash flow became positive and it demonstrated an ability to learn from past mistakes. Tesla shares are up 91% this year.