Billionaire Jim Simons’ Top 12 High-Dividend Stocks

Published on November 20, 2023 at 8:51 am by Vardah Gill in Dividend Stocks, Hedge Funds, News

In this article, we discuss billionaire Jim Simons’ top 12 high-dividend stocks. You can skip our detailed analysis of Renaissance Technologies’ holdings and past performance, and go directly to read Billionaire Jim Simons’ Top 5 High-Dividend Stocks.

Renaissance Technologies, founded by Jim Simons, is a legendary hedge fund known for its innovative quantitative strategies and remarkable success in the financial markets. The firm’s use of mathematics, data analysis, and computer modeling has set it apart in the world of investing. The hedge fund’s unique way of investing has led to incredible profits over time. Their top fund, the Medallion Fund, achieved approximately 66% in annual returns on average from 1988 to 2020, before accounting for fees. After fees were deducted, the returns settled at around 39%. These returns surpass the yearly gains of approximately 16% seen at Buffett’s Berkshire Hathaway and the 10% returns from the S&P 500 during that same time frame. The Medallion fund boasts one of the most impressive track records within the industry.

Jim Simons’ investment strategy at Renaissance Technologies is primarily based on quantitative analysis and mathematical models. The firm heavily relies on computer-based algorithms to execute trades automatically based on the signals generated by their models. These algorithms allow for rapid and systematic trading in various markets. When he started his hedge fund, Simons recruited physicists, mathematicians, and computer scientists. Together, they collected massive amounts of data and developed algorithms to find hidden patterns in global markets. Despite skepticism from experts, Simons and his team achieved immense wealth, as their strategy of using math models and data analysis became widely adopted across industries. Their wealth allowed them to make significant impacts in politics, philanthropy, and scientific research, reshaping these fields. As of November, the hedge fund’s total assets under management (AUM) are worth over $106 billion.

Also read: Bill Gates’ 11 Dividend Stocks

Simons has maintained a strong dedication to supporting philanthropic initiatives throughout his life. Despite his considerable success as a billionaire, with a net worth of $30.7 billion, he has consistently shown a commitment to giving back to various causes. His philanthropic endeavors span across different sectors, including scientific research, education, and healthcare. In one of the recent developments, Simons and his wife, have donated $500 million to Stony Brook University, the public college where he taught before founding his highly successful hedge fund. The donation, coming from the Simons Foundation, stands as the largest unrestricted donation ever made to a U.S. higher education institution. The funds will bolster Stony Brook’s endowment.

As of the end of Q3 2023, Renaissance Technologies’ 13F portfolio had a value of $58.6 billion, compared with $69.38 billion in the previous quarter. The hedge fund invested heavily in the tech, services, and healthcare sectors, among others. Some of the firm’s major holdings include Microsoft Corporation (NASDAQ:MSFT), Airbnb, Inc. (NASDAQ:ABNB), and Apple Inc. (NASDAQ:AAPL), however, in this article, we will discuss some of the firm’s best high-yield dividend stocks.

Jim Simons of Renaissance Technologies

Our Methodology:

We chose prominent dividend stocks from Renaissance Technologies’ portfolio, as of Q3 2023. We specifically selected stocks with dividends over 4% as of November 20. These companies not only offer high dividends but also have consistent track records of paying dividends. The stocks are ranked according to the value of Renaissance Technologies’ stake in them.

12. AT&T Inc. (NYSE:T)

Renaissance Technologies Stake Value: $31,148,000

Dividend Yield as of November 20: 6.98%

AT&T Inc. (NYSE:T) is an American multinational conglomerate known primarily for its telecommunications and media offerings. In the third quarter of 2023, Jim Simons’ Renaissance Technologies owned over 2 million shares in the company, worth over $31 million. The company represented 0.05% of the billionaire’s portfolio.

AT&T Inc. (NYSE:T) has been paying regular dividends to shareholders since 1995. The company currently offers a quarterly dividend of $0.2775 per share and has a dividend yield of 6.98%, as of November 20. T is one of the best high-dividend stocks in billionaire Jim Simons’ portfolio.

At the end of Q2 2023, 56 hedge funds in Insider Monkey’s database reported having stakes in AT&T Inc. (NYSE:T), down from 58 in the previous quarter. The collective value of these stakes is more than $1.4 billion.

11. 3M Company (NYSE:MMM)

Renaissance Technologies Stake Value: $36,905,000

Dividend Yield as of November 20: 6.29%

3M Company (NYSE:MMM) is a Minnesota-based multinational conglomerate corporation that operates across various sectors. On November 7, the company declared a quarterly dividend of $1.50 per share, which was in line with its previous dividend. The company’s dividend growth streak currently stands at 65 years. With a dividend yield of 6.29%, as of November 20, MMM is one of the best high-dividend stocks in Jim Simons’ portfolio.

As of the close of Q3 2023, Renaissance Technologies held 394,200 stakes in 3M Company (NYSE:MMM), worth collectively roughly $37 million. The company represented 0.06% of billionaire Simons’ portfolio.

At the end of June 2023, 49 hedge funds tracked by Insider Monkey reported having stakes in 3M Company (NYSE:MMM), compared with 51 in the previous quarter. These stakes are collectively valued at over $726.7 million. With over 1.6 million shares, AQR Capital Management was the company’s leading stakeholder in Q2.

10. Medifast, Inc. (NYSE:MED)

Renaissance Technologies Stake Value: $56,453,000

Dividend Yield as of November 20: 9.92%

Medifast, Inc. (NYSE:MED) is an American company in the health and wellness industry, specializing in weight management and healthy living products. During the third quarter of 2023, Renaissance Technologies boosted its position in the company by 11%, which took its total MED stake to over $56.4 million. The company made up 0.09% of the firm’s 13F portfolio.

Medifast, Inc. (NYSE:MED), one of the best high-dividend stocks in billionaire Simons’ portfolio, currently offers a quarterly dividend of $1.65 per share. The company maintains an 8-year streak of consistent dividend growth. As of November 20, the stock has a dividend yield of 9.92%.

As of the close of Q2 2023, 18 hedge funds in Insider Monkey’s database owned stakes in Medifast, Inc. (NYSE:MED), compared with 22 in the previous quarter. These stakes are collectively valued at over $80.4 million.

9. Bristol-Myers Squibb Company (NYSE:BMY)

Renaissance Technologies Stake Value: $59,715,000

Dividend Yield as of November 20: 4.48%

Bristol-Myers Squibb Company (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing, and delivering innovative medicines to treat various diseases and conditions. The company currently pays a quarterly dividend of $0.57 per share, having raised it 5.6% in 2022. This was the company’s 17th consecutive year of dividend growth. The stock has a dividend yield of 4.48%, as of November 20.

Renaissance Technologies owned over 1 million shares in Bristol-Myers Squibb Company (NYSE:BMY) at the end of Q3 2023. The hedge fund’s total stake in the company amounted to nearly $60 million, which constituted 0.1% of its 13F portfolio.

Insider Monkey’s database of Q2 2023 showed that 66 hedge funds owned stakes in Bristol-Myers Squibb Company (NYSE:BMY). The total value of these stakes is over $1.7 billion.

8. Kinder Morgan, Inc. (NYSE:KMI)

Renaissance Technologies Stake Value: $67,186,000

Dividend Yield as of November 20: 6.66%

Kinder Morgan, Inc. (NYSE:KMI) is a Texas-based energy infrastructure company that manages and operates a vast network of natural gas pipelines across various regions. At the end of Q3 2023, Renaissance Technologies owned over 4 million shares in the company, valued at over $67 million. The company made up 0.11% of billionaire Jim Simons’ portfolio.

Kinder Morgan, Inc. (NYSE:KMI) has been growing its dividends for six consecutive years and currently pays a quarterly dividend of $0.2825 per share. As of November 20, the stock has a dividend yield of 6.66%.

Kinder Morgan, Inc. (NYSE:KMI) was a part of 36 hedge fund portfolios at the end of Q2 2023, up from 35 in the previous quarter, as per Insider Monkey’s database. These stakes have a total worth of nearly $891 million. Among these hedge funds, Orbis Investment Management was the company’s largest stakeholder in Q2.

7. Devon Energy Corporation (NYSE:DVN)

Renaissance Technologies Stake Value: $74,731,000

Dividend Yield as of November 20: 9.30%

Devon Energy Corporation (NYSE:DVN) is an American independent energy company that is primarily focused on the exploration, development, and production of oil and natural gas resources in the country. On November 8, the company announced a new quarterly dividend of $0.77 per share. This dividend includes a fixed amount plus an additional variable component. It’s a significant increase of 57.1% from the previous dividend, which was $0.49 per share. The stock’s dividend yield on November 20 came in at 9.30%.

Devon Energy Corporation (NYSE:DVN) is one of the recent acquisitions of Renaissance Technologies as the hedge fund initiated its position in the company with over 1.5 million shares, worth over $74.7 million. The company represented 0.12% of the firm’s 13F portfolio.

As of the end of Q2 2023, 45 hedge funds in Insider Monkey’s database reported having stakes in Devon Energy Corporation (NYSE:DVN), worth collectively over $638.6 million.

6. International Business Machines Corporation (NYSE:IBM)

Renaissance Technologies Stake Value: $75,257,000

Dividend Yield as of November 20: 4.34%

International Business Machines Corporation (NYSE:IBM) is next on our list of the best high-dividend stocks in billionaire Jim Simons’ portfolio. The multinational tech company currently pays a quarterly dividend of $1.66 per share and has a dividend yield of 4.34%, as of November 20. The company has been rewarding shareholders with growing dividends for the past 28 years.

At the end of the third quarter of 2023, Renaissance Technologies held 536,400 shares in International Business Machines Corporation (NYSE:IBM), worth over $75.2 million. These stakes made up 0.12% of the firm’s 13F portfolio.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q2 2023, 51 funds owned investments in International Business Machines Corporation (NYSE:IBM), up from 49 in the preceding quarter. The total value of these stakes is roughly $814 million.

Click to continue reading and see Billionaire Jim Simons’ Top 5 High-Dividend Stocks.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on October 30, 2024 at by Inan Dogan, PhD

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A New Dawn is Coming to U.S. Stocks

Published on November 16, 2024 at by Insider Monkey Staff

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Click to continue reading…

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