While no shortage of guidance exists regarding investment opportunities, investors with some funds earmarked for speculation may want to consider stocks to buy that hedge funds are also acquiring. The philosophy here is fairly straightforward: Rather than listen to some internet luminary, retail investors can trade alongside market professionals who have skin in the game.

A critical advantage here is informational leverage. Your average retail investor doesn’t have hours to research compelling stocks to buy and may be limited in their analytical tools. However, the best hedge funds enjoy access to both advanced mechanisms and the brightest minds.

Of course, wagering on stocks based on hedge fund activity has its risks. Rich people can afford to make mistakes, while retail investors who overextend themselves may suffer crippling financial damage. Therefore, it’s probably best to wade in slowly before plunking down serious money in this endeavor.

Still, if you’ve run through your risk-reward checklist, here are three stocks to buy that the hedge funds have targeted.

EQT Corporation (EQT)

While some top hedge finds picks may perplex casual observers, EQT Corporation (NYSE:EQT) is not one of them. The firm specializes in hydrocarbon (mainly natural gas) exploration and pipeline transport. While its liquefied natural gas (LNG) business always commanded relevance, EQT stands to benefit from geopolitical tensions.

Russia’s invasion of Ukraine earlier this year dealt a massive blow to global energy supplies and stability. The U.S. and other Western allies imposed sanctions, but European leaders found that their dependency on Russian energy inflows stymied their resolve.

With Ukrainie launching a counteroffensive, neither side appears ready to negotiate a settlement. Moreover, winter is coming, putting Western Europe in a bind.

Thanks to its LNG efforts, EQT can follow in the footsteps of other natural gas giants in shipping vital supplies to Europe. Therefore, this is one of the credible stocks to buy that hedge funds have jumped on.

Las Vegas Sands (LVS)

At first glance, casino and resort specialist Las Vegas Sands (NYSE:LVS) might not seem like one of the best stocks to buy. The company sold off its Las Vegas properties, electing instead to focus on Asia, specifically Macau and Singapore.

Macau, which is a special administrative region of China, has followed Beijing’s strict coronavirus protocols. As a result, casinos there were shut down this summer to curb Covid-19 infections. While it arguably may have been the right decision public health-wise, it certainly hurt casino operators like Las Vegas Sands.

So, why bother with LVS? The answer comes down to forward thinking.

While Sands hurts now, over time, it may reap the rewards of its focus on Macau. Specifically, Eastern gambling culture differs from Western standards. In Vegas, many people love the entertainment aspect of casinos and resorts. In places like Macau, the patrons are there to participate in games of chance.

At scale, the Eastern culture simply offers greater profitability potential for Sands, making it understandable why hedge funds are targeting the stock.

Uber Technologies (UBER)

I must admit that I find hedge funds’ move into ride-sharing platform Uber Technologies (NYSE:UBER) a bit surprising. On a year-to-date basis, UBER is down more than 30%. Moreover, Federal Reserve Chair Jerome Powell’s speech at the annual economic symposium in Jackson Hole, Wyo., presented concerns. Powell warned about “some pain” that may occur as the central bank attempts to address inflation by raising interest rates.

Long story short, the Fed risks slowing the economy too much, which would negatively affect discretionary spending. And you can’t get more discretionary than paying someone to drive you somewhere.

However, UBER may be on hedge funds’ lists of stocks to buy for another reason. Increasingly, managers have expressed displeasure with work-from-home protocols. In a war between employers and employees, I’m going with the former every time. After all, they write the checks.

Because Uber has made significant inroads into food deliveries, it’s possible that hedge funds anticipate worker bees ordering takeout meals. Plus, corporate get-togethers may increase, thus boding well for the Uber Eats business arm.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.