Medallion Fund Strategy, Returns, and Holdings: Top 5 Stock Picks

In this piece, we will take a look at Medallion’s Fund’s strategy, returns, and holdings along with the top five stocks. If you want to take a deeper look at the fund, its hedge fund, and history, then head on to Medallion Fund Strategy, Returns, and Holdings.

5. Airbnb, Inc. (NASDAQ:ABNB)

Renaissance Technologies Investment In Q1 2023: $753 million

Airbnb, Inc. (NASDAQ:ABNB) is a travel services company that provides lodging options to travelers who are not interested in staying at hotels. The firm’s shares have a small $10 upside, and Jim Simons’ Renaissance Technologies had owned 6 million shares that were worth $753 million as of March 2023.

During the same time period, 63 of the 943 hedge funds part of Insider Monkey’s database had bought and owned the firm’s shares. Airbnb, Inc. (NASDAQ:ABNB)’s second largest hedge fund investor in our database is John Overdeck and David Siegel’s Two Sigma Advisors with an investment of $269 million.

4. Tesla, Inc. (NASDAQ:TSLA)

Renaissance Technologies Investment In Q1 2023: $835 million

Tesla, Inc. (NASDAQ:TSLA) is the largest electric vehicle manufacturer in America. The firm’s been having a great 2023 so far, as not only have its shares soared, but it is also significantly growing its car deliveries.

By the end of 2023’s first quarter, Renaissance Technologies had owned four million Tesla, Inc. (NASDAQ:TSLA) shares that were worth $835 million. During the same time period, 82 out of the 943 hedge funds covered by Insider Monkey’s research had also invested in the firm. Out of these, Tesla, Inc. (NASDAQ:TSLA)’s largest shareholder is D. E. Shaw’s D E Shaw since it has a $1.2 billion investment.

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

Renaissance Technologies Investment In Q1 2023: $878 million

Gilead Sciences, Inc. (NASDAQ:GILD) is a biotechnology company that develops treatments for a variety of diseases such as cancer and blood pressure problems. Its shares are rated Buy on average. Mr. Simons’ hedge fund owned an $878 million stake in the firm during this year’s first quarter.

60 of the 943 hedge funds covered by Insider Monkey had also invested in Gilead Sciences, Inc. (NASDAQ:GILD) by then, with the firm’s second largest hedge fund shareholder being Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital since it owned 8.1 million shares worth $679 million.

2. Amazon.com, Inc. (NASDAQ:AMZN)

Renaissance Technologies Investment In Q1 2023: $929 million

Amazon.com, Inc. (NASDAQ:AMZN) is an electronic commerce retailer which also operates in consumer electronics, enterprise computing, and other industries. It is the second stock on our list so far whose shares are rated a Strong Buy on average despite the fact that the firm has somewhat struggled in an inflationary environment.

Jim Simons’ Renaissance Technology owned a $929 million stake in Amazon.com, Inc. (NASDAQ:AMZN) during Q1 2023. During the same time period, 243 hedge funds of the 943 polled by Insider Monkey had also invested in the firm, with Ken Fisher’s Fisher Asset Management being the largest investor.

1. Novo Nordisk A/S (NYSE:NVO)

Renaissance Technologies Investment In Q1 2023: $1.7 billion

Novo Nordisk A/S (NYSE:NVO) is a pharmaceutical giant. It has comfortably beaten analyst EPS estimates for its previous four quarters, and the shares are rated Strong Buy on average.

46 of the 943 hedge funds surveyed by Insider Monkey had invested in Novo Nordisk A/S (NYSE:NVO) during 2023’s March quarter. Jim Simons’ Renaissance Technologies was the largest investor through its massive $1.7 billion stake.

Disclosure: None. You can also take a look at 10 Best Auto Stocks To Buy Now and 10 Best Safe Dividend Stocks for Retirement Portfolios.

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