Ken Griffin’s Wellington Fund Delivers Mind-Numbing Returns and Its Top 5 Stocks

3. Boston Scientific Corporation (NYSE:BSX)

Citadel Investment Group’s Equity Stake: $1.12 Billion
Number of Hedge Fund Holders: 65

Boston Scientific Corporation (NYSE:BSX) is Ken Griffin’s biggest holding in the healthcare sector. The company makes and sells medical devices globally for interventional specialties. Boston Scientific Corporation (NYSE:BSX) also offers technologies for heart disorders.

Boston Scientific Corporation (NYSE:BSX) was one of the stocks that allowed Ken Griffin’s Wellington Fund to deliver mind-numbing returns after gaining 23% in 2023. Citadel Investment Group increased its stakes in Boston Scientific Corporation (NYSE:BSX) by 37% in Q3 to $1.12 billion.

Insider Monkey’s third quarter of 2023 survey covering 910 hedge funds it was revealed that 65 institutional investors had invested in Boston Scientific Corporation (NYSE:BSX). During the third quarter, Ken Griffin’s Citadel Investment Group was the biggest shareholder.

In its Q3 2023 investor letter, Baron Funds, an asset management firm, mentioned Boston Scientific Corporation (NYSE:BSX). Here is what the fund said:

“We added to our position in Boston Scientific Corporation (NYSE:BSX), a global developer, manufacturer, and marketer of medical devices that are used in a broad range of interventional medical specialties. We wrote about Boston Scientific last quarter. We believe Boston Scientific can grow revenue in the high single digits, driven by differentiated products used to treat atrial fibrillation, among others. The company held an Investor Day during the quarter at which management established financial targets for the 2024– 2026 period calling for an organic sales CAGR of 8% to 10%, 150 basis points of margin expansion and strong double-digit adjusted EPS growth and improved free-cash-flow conversion. We think this growth profile makes Boston Scientific a compelling name within the large medical device universe.”

Follow Boston Scientific Corp (NYSE:BSX)

[/company-follow-email]