Best Retirement Portfolio for a 65-Year-Old

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 161

Number of Consecutive Years of Dividend Growth: 14

Average 5-Year Share Price Returns: 730.78%

A mega semiconductor player, Broadcom Inc. (NASDAQ:AVGO) is one of our top picks for the best retirement portfolio. With steady financial growth, annual dividend increases, and an impressive 700% return over the past five years, it stands out as a solid long-term investment. On March 25, the company launched two new chips, Sian3 and Sian2M, to improve AI network connections. These chips help speed up data transfer in advanced fiber-optic networks while using less power.

Broadcom Inc. (NASDAQ:AVGO) had a record-breaking first quarter of FY 2025, earning $14.9 billion in revenue, a 25% increase from the same period last year. AI semiconductor sales skyrocketed 77% to $4.1 billion, while infrastructure software sales grew 47% to $6.7 billion. The company expects AI revenue to hit $4.4 billion in Q2 as demand for AI data centers keeps rising. Broadcom also saw a 41% boost in adjusted EBITDA, reaching $10.1 billion, with free cash flow up 28% to $6 billion. The firm closed the quarter with $9.3 billion in cash, generated $6.1 billion from operations, spent $100 million on capital expenditures, and shelled out $2.77 billion in dividends.

On March 6, Broadcom Inc. (NASDAQ:AVGO) declared a $0.59 per share quarterly dividend. The dividend will be paid on March 31 to shareholders who own the stock as of March 20. The company has a 14-year streak of dividend growth under its belt.

According to Insider Monkey’s fourth quarter database, 161 hedge funds reported owning stakes in Broadcom Inc. (NASDAQ:AVGO), up from 128 funds in the previous quarter.