In this article, we discuss billionaire Ken Griffin’s top 10 high-dividend stock picks. You can skip our detailed analysis of Ken Griffin’s investment strategy and read directly Billionaire Ken Griffin’s Top 5 High Dividend Stock Picks.
Ken Griffin’s Citadel Investment Group is one of the world’s 15 largest hedge funds by AUM. The hedge fund outperformed its peers in 2022, generating more than $28 billion in revenue, according to the Wall Street Journal. Plus, the firm’s flagship fund, Wellington, returned 38.1% last year, compared with an 18% decline in the S&P 500. Ken Griffin remains the biggest winner, according to LCH Investments’ annual ranking of the world’s top 20 hedge fund managers. because his hedge fund made $16 billion in 2022. Citadel’s performance also surpassed John Paulson’s 2007 “biggest trade” of more than $15 billion. As of February 2023, the billionaire’s real-time net worth is more than $33 billion, up from $12 billion in 2020.
Citadel Investment Group is a quantitative hedge fund that tracks a variety of investment ideas. A hedge fund uses complex mathematical models and advanced calculations to invest in various markets. In addition, the firm conducts rigorous research to analyze risks for portfolio construction. These investment strategies have paid off for the company, which has earned nearly $66 billion since its inception in 1990, according to Forbes.
After a record-breaking performance in 2022, Citadel is on track to turn a profit this year as well. According to Reuters, the firm’s Wellington fund gained 2.08% in January.
As of the end of Q4 2022, Citadel Investment Group’s 13F portfolio is valued at more than $428 billion, up from $438 billion in the previous quarter. The hedge fund invests in several sectors, with technology, services and consumer goods being the most popular industries. Tesla, Inc. (NASDAQ:TSLA), Microsoft Corporation (NASDAQ:MSFT) and Apple Inc. (NASDAQ:AAPL) are some of the firm’s prominent holdings. However, in this article, we will discuss billionaire Ken Griffin’s top dividend stock picks.
Our methodology:
For this list, we selected dividend stocks from Citadel Investment Group’s 13F portfolio through the fourth quarter of 2022. This high-dividend stock has a yield of over 3% as of February 17. The list is sorted in ascending order of total value. From the shares of Ken Griffin.
Ken Griffin of Citadel Investment Group
Billionaire Ken Griffin’s Top 10 High Dividend Stock Picks
10. Intel Corporation (NASDAQ:INTC)
Citadel Investment Group Share Value: $107,586,116
Dividend yield as of February 17: 5.23%
Intel Corporation (NASDAQ:INTC) is a California-based multinational semiconductor company that also provides other technology services to consumers. In January, Northland maintained an Outperform rating on the stock with a $45 price target. The firm noted that the company should improve its performance this year.
Citadel Investment Group who had been investing in Intel Corporation (NASDAQ:INTC) since 2010Q4. The hedge fund owned more than 4 million shares of the company’s stock worth $107.5 million in the most recent quarter. The company made up 0.02% of Ken Griffin’s portfolio. The firm’s other notable holdings include Tesla, Inc. (NASDAQ:TSLA), Microsoft Corporation (NASDAQ:MSFT) and Apple Inc (NASDAQ:AAPL).
On January 26th, Intel Corporation (NASDAQ:INTC) announced a quarterly dividend of $0.365 per share, which was down from its previous dividend. The company has consistently increased its dividend for the past seven years. As of February 17th, the stock has a dividend yield of 5.23%, making it one of billionaire Ken Griffin’s top dividend stock picks.
As of the end of September quarter, 69 hedge funds held stakes in Intel Corporation (NASDAQ:INTC), up from 65 the previous quarter. The total value of these shares is about 2 billion dollars. With more than 15 million shares, Two Sigma Advisors was one of the company’s leading stakeholders in Q3.
ClearBridge Investments mentioned Intel Corporation (NASDAQ:INTC) in its 2022 Q3 investor letter. Here’s what the firm says:
“Also on the detractor’s side, Intel Corporation (NASDAQ:INTC) missed a disappointing revenue and lowered its full-year revenue and earnings guidance as demand for PCs (where Intel enjoys half of its sales) fell due to COVID-19 and a delay in its flagship Sapphire Rapids CPU hit its data center damaged Business. Despite these challenges, we still believe Intel has an economically viable turnaround story.
9. Gilead Sciences, Inc. (NASDAQ:GILD)
Citadel Investment Group Share Value: $142,083,037
Dividend yield as of February 17: 3.55%
Gilead Sciences, Inc. (NASDAQ:GILD) is an American biopharmaceutical company specializing in the research and development of antiviral drugs. On February 2, the company increased its quarterly dividend by 2.7% to $0.75 per share. This marked the company’s eighth consecutive year of dividend growth. The stock has a dividend yield of 3.55% as of February 17. It is among billionaire Ken Griffin’s top dividend stock picks.
Mizuho announced in February that Gilead Sciences, Inc. (NASDAQ:GILD) raised peak sales estimates for the company’s HIV business to $20 billion. The firm also raised its price target on the stock to $101 with a buy rating on the stock.
Citadel Investment Group increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 385% in 2022Q4. The hedge fund currently owns 1.6 million GILD shares, worth more than $142 million. The company made up 0.03% of Ken Griffin’s portfolio.
At the end of 2022Q3, the 56 hedge funds tracked by Insider Monkey held stakes in Gilead Sciences, Inc. (NASDAQ:GILD) with a total value of $3.63 billion.
Ariel Investments covered Gilead Sciences, Inc. (NASDAQ:GILD) in its 2022Q3 investor letter. Here’s what the firm says:
“At the stock level, a biopharmaceutical company Gilead Sciences, Inc. (NASDAQ:GILD) was the top contributor in the quarter, driven by positive data released in a study comparing chemotherapy to Trodelvy in patients with metastatic breast cancer. The detailed findings boosted investor confidence that the drug will receive further approvals for a wider range of breast cancer treatments. Shares were also boosted by news that TAF’s patent portfolio for HIV drugs will be extended from the middle of this decade to the early 2030s, extending the company’s long-term reach in the virology market.
8. ConocoPhillips (NYSE: COP)
Citadel Investment Group Share Value: $166,139,870
Dividend yield as of February 17: 5.13%
ConocoPhillips (NYSE:COP) is a Texas-based energy company specializing in refineries and crude oil. In 2022Q4, Citadel Investment Group increased its position in the company by 264%, bringing its total stake in COP to more than $166M. The company was 0.03% of billionaire Ken Griffin’s portfolio.
One of Ken Griffin’s top dividend stock picks, ConocoPhillips (NYSE:COP) has been paying regular dividends to shareholders since 1993. It currently offers a quarterly dividend of $0.51 per share and has a dividend yield of 5.13%. , as of February 17.
Barclays presented a positive outlook on the energy sector for 2023 due to its investment thesis and cash flows. With that in mind, the firm raised its price target on ConocoPhillips (NYSE:COP) in January to $160 with an Overweight rating on the stock.
As of the end of 2022Q3, the 64 hedge funds in Insider Monkey’s database owned stakes in ConocoPhillips (NYSE:COP) worth a total of more than $2.66 billion.
Diamond Hill Capital mentioned ConocoPhillips (NYSE:COP) in its 2022Q4 investor letter. Here’s what the firm says:
“ConocoPhillips (NYSE:COP) ‘s stock outperformed the market, largely thanks to continued strong oil prices, despite a more uncertain economic outlook. We continue to believe the company is one of the best operators in the space with a diversified portfolio, concentrated assets in well-understood jurisdictions, a strong balance sheet and excellent management.”
7. Exxon Mobil Corporation (NYSE:XOM)
Citadel Investment Group Share Value: $170,924,961
Dividend yield as of February 17: 3.27%
American multinational energy company Exxon Mobil Corporation (NYSE:XOM) is next on billionaire Ken Griffin’s list of top dividend stock picks. The company has 40 years of consecutive dividend growth. It currently pays a quarterly dividend of $0.91 per share and has a dividend yield of 3.27% as of February 17th.
Citadel Investment Group began investing in Exxon Mobil Corporation (NYSE:XOM) in the fourth quarter of 2010 with more than $48 million in shares. The hedge fund owned approximately $171 million in shares of XOM after growing its position in the company by 791% in the most recent quarter. The company represented 0.03% of the firm’s 13F portfolio.
As of the end of 2022Q3, 75 hedge funds tracked by Insider Monkey held stakes in Exxon Mobil Corporation (NYSE:XOM), up from 72 in the previous quarter. The total value of these shares is 5.5 billion dollars. GQG Partners held the largest stake in the company, valued at about $3 billion.
6. Phillips 66 (NYSE:PSX)
Citadel Investment Group Share Value: $181,672,889
Dividend yield as of February 17: 4.20%
Phillips 66 (NYSE:PSX) specializes in oil refining and also transports natural gas liquids and petrochemicals. On February 8, the company announced a quarterly dividend of $1.05 per share, increasing it by 8.2%. Thanks to this increase, the company extended its dividend growth streak to 12 years. The stock has a dividend yield of 4.20% as of February 17, making it one of billionaire Ken Griffin’s top dividend stock picks.
As of Q4 2022, Citadel Investment Group owned more than 1.7 million shares in Phillips 66 (NYSE:PSX) with a total value of more than $181.6 million. The company owns 0.04% of its 13F portfolio. Tesla, Inc. (NASDAQ:TSLA), Microsoft Corporation (NASDAQ:MSFT) and Apple Inc. (NASDAQ:AAPL) are other important holdings of the firm.
In January, Wells Fargo maintained an Overweight rating on Phillips 66 (NYSE: PSX ) with a $127 price target. The firm called PSX the best choice among major oil refineries.
At the end of 2022Q3, 34 hedge funds tracked by Insider Monkey held shares of Phillips 66 (NYSE:PSX), down from 38 in the previous quarter. The total value of these shares is about 780 million dollars. Among these hedge funds, DE Shaw was the company’s leading stakeholder in Q3.
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Disclosure. None. Billionaire Ken Griffin’s Top 10 High Dividend Stock Picks was originally published on Insider Monkey.