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Billionaire Ken Griffin’s Top 10 High Dividend Stock Picks

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 go directly to read Billionaire Ken Griffin’s Top 5 High Dividend Stock Picks

Ken Griffin’s Citadel Investment Group is one of the 15 Biggest Hedge Funds in the World by AUM. The hedge fund outperformed its peers in 2022, generating over $28 billion in revenue, as reported by Wall Street Journal. Moreover, the firm’s flagship fund, Wellington, delivered a 38.1% return last year, compared with an 18% drop in the S&P 500. According to LCH Investments’ annual ranking of the world’s top 20 hedge fund managers, Ken Griffin remained the biggest winner as his hedge fund recorded $16 billion of gains in 2022. Citadel’s performance also surpassed John Paulson’s ‘greatest trade ever’ of 2007, in which he earned over $15 billion. As of February 2023, the billionaire has a real-time net worth of over $33 billion, up from $12 billion in 2020.

Citadel Investment Group is a quantitative hedge fund that follows a wide range of investment ideas. The hedge fund uses complex mathematical models and advanced computing to invest in different markets. Moreover, the firm carries out meticulous research to analyze risks for portfolio construction. These investment strategies have worked out well for the firm as it gained nearly $66 billion since its inception in 1990, according to Forbes.

After giving a record-breaking performance in 2022, Citadel is also on the way to gaining profits this year as well. The firm’s Wellington fund gained 2.08% in January, as reported by Reuters.

As of the close of Q4 2022, Citadel Investment Group’s 13F portfolio is valued at over $428 billion, down from $438 billion in the previous quarter. The hedge fund made investments 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 prominent holdings of the firm. However, we will discuss the top dividend stock picks of billionaire Ken Griffin in this article.

Our Methodology:

For this list, we picked dividend stocks from Citadel Investment Group’s 13F portfolio, as of the fourth quarter of 2022. These high-dividend stocks have yields above 3%, as of February 17. The list is ranked in ascending order of the total value of Ken Griffin’s stakes.

Ken Griffin of Citadel Investment Group

Billionaire Ken Griffin’s Top 10 High Dividend Stock Picks

10. Intel Corporation (NASDAQ:INTC)

Citadel Investment Group’s Stake 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 tech services to its consumers. In January, Northland maintained an Outperform rating on the stock with a $45 price target. The firm mentioned that the company needs to improve its execution this year.

Citadel Investment Group has been investing in Intel Corporation (NASDAQ:INTC) since Q4 2010. In the most recent quarter, the hedge fund owned over 4 million shares in the company, worth over $107.5 million. The company made up 0.02% of Ken Griffin’s portfolio. Other prominent holdings of the firm include Tesla, Inc. (NASDAQ:TSLA), Microsoft Corporation (NASDAQ:MSFT), and Apple Inc. (NASDAQ:AAPL).

On January 26, Intel Corporation (NASDAQ:INTC) declared a quarterly dividend of $0.365 per share, which fell in line with its previous dividend. The company has been raising its dividends consistently for the past seven years. As of February 17, the stock has a dividend yield of 5.23%, which makes it one of the top high-dividend stock picks of billionaire Ken Griffin.

As of the end of the September quarter, 69 hedge funds owned stakes in Intel Corporation (NASDAQ:INTC), up from 65 in the previous quarter. These stakes have a total value of roughly $2 billion. With over 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 Q3 2022 investor letter. Here is what the firm has to say:

“Also on the detractor side, Intel Corporation (NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.”

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

Citadel Investment Group’s Stake Value: $142,083,037

Dividend Yield as of February 17: 3.55%

Gilead Sciences, Inc. (NASDAQ:GILD) is an American biopharmaceutical company that specializes in the research and development of antiviral drugs. On February 2, the company declared a 2.7% hike in its quarterly dividend 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 the top high-dividend stock picks of billionaire Ken Griffin.

Mizuho increased its peak sales estimates for Gilead Sciences, Inc. (NASDAQ:GILD)’s HIV business to $20 billion in February. The firm also raised its price target on the stock to $101 with a Buy rating on the shares.

In the fourth quarter of 2022, Citadel Investment Group boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by a whopping 385%. The hedge fund now owns over 1.6 million GILD shares, worth over $142 million. The company made up 0.03% of Ken Griffin’s portfolio.

At the end of Q3 2022, 56 hedge funds tracked by Insider Monkey owned stakes in Gilead Sciences, Inc. (NASDAQ:GILD), valued at $3.63 billion collectively.

Ariel Investments mentioned Gilead Sciences, Inc. (NASDAQ:GILD) in its Q3 2022 investor letter. Here is what the firm has to say:

“At the stock level, biopharmaceutical company Gilead Sciences, Inc. (NASDAQ:GILD) was the top contributor in the quarter based 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 the TAF patent portfolio for HIV drugs will be extended from the middle of this decade through the early 2030s, thereby lengthening the company’s long-term opportunity in the virology market.”

8. ConocoPhillips (NYSE:COP)

Citadel Investment Group’s Stake Value: $166,139,870

Dividend Yield as of February 17: 5.13%

ConocoPhillips (NYSE:COP) is a Texas-based energy company that specializes in petroleum refineries and crude oil. In Q4 2022, Citadel Investment Group boosted its position in the company by 264%, which took its total COP stake to over $166 million. The company constituted 0.03% of billionaire Ken Griffin’s portfolio.

ConocoPhillips (NYSE:COP), one of the top high-dividend stock picks of Ken Griffin, has been paying regular dividends to shareholders since 1993. It currently offers a per-share dividend of $0.51 every quarter and has a dividend yield of 5.13%, as of February 17.

Barclays presented a positive stance on the energy sector for 2023 due to its investment thesis and cash returns. In view of this, the firm raised its price target on ConocoPhillips (NYSE:COP) in January to $160 with an Overweight rating on the shares.

As of the close of Q3 2022, 64 hedge funds in Insider Monkey’s database owned stakes in ConocoPhillips (NYSE:COP), worth over $2.66 billion collectively.

Diamond Hill Capital mentioned ConocoPhillips (NYSE:COP) in its Q4 2022 investor letter. Here is what the firm has to say:

“ConocoPhillips (NYSE:COP)’ stock performed well in the market largely on the back of continued strong oil prices, even as the economic outlook became more uncertain. We continue to believe the company is one of the best operators in the space, with a diversified portfolio, assets concentrated in well understood jurisdictions, a strong balance sheet and excellent management.”

7. Exxon Mobil Corporation (NYSE:XOM)

Citadel Investment Group’s Stake Value: $170,924,961

Dividend Yield as of February 17: 3.27%

An American multinational energy company, Exxon Mobil Corporation (NYSE:XOM) is next on our list of top high-dividend stock picks of billionaire Ken Griffin. The company has a run of 40 years of consistent dividend growth. It currently pays a quarterly dividend of $0.91 per share and has a dividend yield of 3.27%, as of February 17.

Citadel Investment Group started investing in Exxon Mobil Corporation (NYSE:XOM) during the fourth quarter of 2010 with shares worth over $48 million. In the most recent quarter, the hedge fund owned XOM stakes worth nearly $171 million, after raising its position in the company by 791%. The company represented 0.03% of the firm’s 13F portfolio.

As of the close of Q3 2022, 75 hedge funds tracked by Insider Monkey owned stakes in Exxon Mobil Corporation (NYSE:XOM), up from 72 in the previous quarter. The collective value of these stakes is $5.5 billion. GQG Partners owned the largest stake in the company, worth nearly $3 billion.

6. Phillips 66 (NYSE:PSX)

Citadel Investment Group’s Stake Value: $181,672,889

Dividend Yield as of February 17: 4.20%

Phillips 66 (NYSE:PSX) specializes in petroleum refining and also deals in the transportation of natural gas liquids and petrochemicals. On February 8, the company declared a quarterly dividend of $1.05 per share, having raised it by 8.2%. Through this increase, the company took its dividend growth streak to 12 years. The stock has a dividend yield of 4.20%, as of February 17, which makes it one of the top high-dividend stock picks of billionaire Ken Griffin.

In the fourth quarter of 2022, Citadel Investment Group owned over 1.7 million shares in Phillips 66 (NYSE:PSX), with a total value of over $181.6 million. The company accounted for 0.04% of the firm’s 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 its top pick among large-cap refineries.

At the end of Q3 2022, 34 hedge funds tracked by Insider Monkey owned stakes in Phillips 66 (NYSE:PSX), compared with 38 in the previous quarter. The collective value of these stakes is roughly $780 million. Among these hedge funds, D E 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 is originally published on Insider Monkey.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

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The “Toll Booth” Operator of the AI Energy Boom

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A New Dawn is Coming to U.S. Stocks

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Should I put my money in Artificial Intelligence?

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Click to continue reading…