Ken Griffin Stock Portfolio: Top 5 Stock Picks

2. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 88

Citadel Investment Group’s Stake Value: $715,497,000

Ken Griffin has been a long-term stakeholder of Tesla, Inc. (NASDAQ:TSLA), holding a position in the company since Q4 2010, apart from minor breaks over the years. In Q3 2022, Griffin boosted his Tesla, Inc. (NASDAQ:TSLA) stake by 1241%, disclosing nearly 2.7 million shares worth $715.5 million. 

On November 10, Wedbush analyst Daniel Ives removed Tesla, Inc. (NASDAQ:TSLA) from the firm’s “Best Ideas” list, noting that in the near-term things are “increasingly becoming more challenged,” though his long-term bullish view of Tesla, Inc. (NASDAQ:TSLA) remains generally intact. He sees “a very nervous few months ahead for Tesla investors” as they “remain the ones that have been punched again and again by the Musk Twitter antics”. Although the stock is “deep in the investor penalty box until deliveries hit in early January,” he maintained an Outperform rating on Tesla, Inc. (NASDAQ:TSLA) shares.

According to Insider Monkey’s data, 88 hedge funds were long Tesla, Inc. (NASDAQ:TSLA) at the end of Q3 2022, compared to 73 funds in the prior quarter. Cathie Wood’s ARK Investment Management held a leading stake in the company, with more than 4 million shares worth $1.08 billion. 

Alger Capital made the following comment about Tesla, Inc. (NASDAQ:TSLA) in its Q3 2022 investor letter:

“Tesla, Inc. (NASDAQ:TSLA) is an electric vehicle manufacturer with a significant technological lead in its large and rapidly growing addressable market. Shares outperformed during the quarter despite covid 19 shutdowns at the company’s shanghai production plant early in the period. During this quarter, the company also ramped up production at its newer Germany and Texas plants. While investors were aware of these challenging variables, the company’s quarterly results exceeded expectations thanks to lower-than-expected operating expenses. Investors are aware that ramping up electric vehicle production is challenging and recognize it’s difficult to estimate production rates.”