Billionaire Jim Simons’ 2023 Portfolio: Top 5 Stock Picks

3. Gilead Sciences, Inc. (NASDAQ:GILD)

Number of Hedge Fund Holders: 64

Renaissance Technologies’ Stake Value: $878,172,000

Gilead Sciences, Inc. (NASDAQ:GILD) is a biopharmaceutical company that focuses on the discovery, development, and commercialization of medicines to address unmet medical needs. In Q1 2023, Jim Simons’ fund owned 10.5 million shares of Gilead Sciences, Inc. (NASDAQ:GILD) worth more than $878 million. Gilead Sciences, Inc. (NASDAQ:GILD) is one of the top stock picks of Jim Simons. 

On April 28, Piper Sandler analyst Joseph Catanzaro assumed coverage of Gilead Sciences, Inc. (NASDAQ:GILD) with an Overweight rating and a $105 price target. In a research note to investors, the analyst emphasized that Gilead’s Q1 performance showcased the strength of its core virology commercial business, as well as the growing appeal of its oncology portfolio.

According to Insider Monkey’s fourth quarter database, 64 hedge funds were bullish on Gilead Sciences, Inc. (NASDAQ:GILD), compared to 56 funds in the earlier quarter. Marshall Wace LLP is a prominent stakeholder of the company, with 4.4 million shares worth $380.3 million.

Ariel Global Strategy made the following comment about Gilead Sciences, Inc. (NASDAQ:GILD) in its Q4 2022 investor letter:

“Biopharmaceutical company Gilead Sciences, Inc. (NASDAQ:GILD. advanced in the quarter on positive data released in a study evaluating Trodelvy versus comparative chemotherapy in patients with metastatic breast cancer. The detailed findings increased investor confidence the drug would receive incremental approvals for a broader range of breast cancer treatments. Shares also received a boost on news that the TAF patent portfolio for HIV drugs will be extended from the middle of this decade through the early 2030s, creating greater visibility into the company’s long-term opportunity in the virology market.”