In this article, we will look at 10 dividend stocks in Crispin Odey’s hedge fund portfolio. If you want to skip our detailed analysis of these stocks and Odey Asset Management’s history and past performance you can go to 5 Dividend Stocks in Crispin Odey’s Hedge Fund Portfolio.
Mr. Odey’s Early Beginnings
Crispin Odey is a London-based hedge fund manager and the founding partner of Odey Asset Management Group. Mr. Odey has been dubbed as a “doom-monger” since he has managed to stay lucky in times of economic depression and market crashes. Prior to founding his hedge fund, Mr. Odey managed funds at Framlington and Barings.
Crispin Odey’s Past Performance
Crispin Odey founded Odey Asset Management Group in 1991 with the help of an initial investment of $150 million made by billionaire investor George Soros. Mr. Odey’s fund suffered dramatic losses in 1994 when the Federal Reserve raised interest rates. One of Mr. Odey’s funds lost 44% in value and he lost 95% of his clients. The investor then went on to thrive in the early 2000s. When the MSCI World Index lost 7%, Mr. Odey boasted gains of 20%. In 2008, the investor shorted bank stocks during a time of financial crisis. His short bets against the European banks proved profitable for him and his fund, pocketing him over £28 million that year. Odey Asset Management Group’s returns were a whopping 54.8% for that year.
Brexit Pays Off
In 2016, the investor speculated that the market would collapse as a consequence of Brexit. The wager resulted in gains of 15% for his hedge fund and made him over an astounding £220 million. As of the third quarter of 2021, Mr. Odey manages more than $374.95 million in 13F securities through his hedge fund, Odey Asset Management Group.
Crispin Odey of Odey Asset Management Group
Our Methodology
Among the Crispin Odey’s top holdings we have Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and T-Mobile US, Inc (NASDAQ:TMUS). However, for the purposes of this list, we will be discussing 10 dividend stocks with the highest yields present in Mr. Odey’s hedge fund portfolio.
10 Dividend Stocks in Crispin Odey’s Hedge Fund Portfolio
10. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)
Stake Value of Odey Asset Management Group: $2,432,000
Percentage of Odey Asset Management Group’s 13F Portfolio: 0.64%
Number of Hedge Fund Holders: 21
Dividend Yield as of January 5: 2.08%
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) engages in the telecommunications and networking business worldwide. On December 16, 2021, Verizon (NYSE:VZ) announced its collaboration with Google Cloud (NASDAQ:GOOG) and LM Ericsson (NASDAQ:ERIC) to develop 5G Edge technology solutions for industries, enterprises, and developers.
On December 20, 2021, Morgan Stanley analyst Dominik Olszewski started covering Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) with an Equal Weight rating along with a $13 price target.
By the end of the third quarter of 2021, 21 hedge funds held stakes in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), up from 19 hedge funds in the previous quarter. The total value of these stakes amounted to $227.44 million.
Just like Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and T-Mobile US, Inc (NASDAQ:TMUS), Mr. Odey has a significant stake in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) via his hedge fund, Odey Asset Management Group.
9. Pfizer Inc. (NYSE:PFE)
Stake Value of Odey Asset Management Group: $3,011,000
Percentage of Odey Asset Management Group’s 13F Portfolio: 0.8%
Number of Hedge Fund Holders: 74
Dividend Yield as of January 5: 2.93%
On January 5, BofA analyst Geoff Meacham upgraded Pfizer Inc. (NYSE:PFE) to Buy from Neutral and gave the stock a price target of $70, up from $59. On January 4, Pfizer Inc. (NYSE:PFE) reported that the US government has upped its order for Paxlovid, the company’s FDA-approved oral therapy, to battle COVID-19. The government had initially ordered 10 million courses of Paxlovid, which are now doubled to 20 million in total and are expected to be delivered by the end of September 2022.
Pfizer Inc. (NYSE:PFE) is one of the latest additions to Odey Asset Management Group’s 13F portfolio. Mr. Odey bought 70,000 shares of the stock during the third quarter of 2021, which brought his stake in the company to $3.01 million. The investment covers 0.8% of Mr. Odey’s hedge fund portfolio.
Of the 867 hedge funds being tracked by Insider Monkey, 74 held stakes in Pfizer Inc. (NYSE:PFE) worth $2.66 billion by the end of the third quarter of 2021. This is compared to 67 positions in the second quarter of 2021, with total stakes amounting to $2.35 billion. It is evident that the hedge fund sentiment around the stock is positive.
Saturna Capital, an investment management firm, published its “Amana Funds” third-quarter 2021 investor letter. Here’s what the firm had to say about Pfizer Inc. (NYSE:PFE):
“The Fund’s strongest performer during the quarter was pharmaceutical manufacturer Pfizer. The company submitted trial data to the FDA for use of its COVID-19 vaccine for younger children, and it is widely expected that the FDA will approve it. Health authorities also began recommending booster shots of the Pfizer vaccine for select populations, further increasing demand for vaccinations.”
8. Johnson & Johnson (NYSE:JNJ)
Stake Value of Odey Asset Management Group: $3,707,000
Percentage of Odey Asset Management Group’s 13F Portfolio: 0.98%
Number of Hedge Fund Holders: 88
Dividend Yield as of January 5: 2.48%
Johnson & Johnson (NYSE:JNJ) researches, develops, manufactures, and sells a range of products in the health care field worldwide. The company operates through three segments: Consumer Health, Pharmaceutical, and Medical Devices. On January 4, Johnson & Johnson (NYSE:JNJ) announced that its board of directors have declared a quarterly cash dividend of $1.06 per share. The common stock cash dividend is payable on March 8, 2022, to shareholders of record on February 22. Johnson & Johnson (NYSE:JNJ) was founded in 1886 and is headquartered in New Jersey.
On December 15, 2021, Citi analyst Joanne Wuensch raised her price target on Johnson & Johnson (NYSE:JNJ) to $195 from $192 and reiterated a Buy rating on the shares.
By the end of the third quarter of 2021, 88 hedge funds out of the 867 being tracked by Insider Monkey held stakes in Johnson & Johnson (NYSE:JNJ) worth $6.87 billion. Odey Asset Management’s stake in the company was valued at $3.7 million which accounted for 0.98% of the hedge fund’s 13F portfolio.
7. The Procter & Gamble Company (NYSE:PG)
Stake Value of Odey Asset Management Group: $3,823,000
Percentage of Odey Asset Management Group’s 13F Portfolio: 1.01%
Number of Hedge Fund Holders: 69
Dividend Yield as of January 5: 2.13%
The Procter & Gamble Company (NYSE:PG) is an Ohio-based American multinational consumer goods corporation. The company operates through five segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
Of the 867 elite hedge funds tracked by Insider Monkey at the end of the third quarter of 2021, 69 held stakes in The Procter & Gamble Company (NYSE:PG) which were in excess of $6.41 billion. Odey Asset Management’s stake in the company was valued at $3.82 million and the investment covered 1.01% of the fund’s investment portfolio.
The Procter & Gamble Company (NYSE:PG) is one of the highest yielding dividend stocks among Odey Asset Management Group’s 13F holdings. Other stocks among the top holdings of the hedge fund are Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and T-Mobile US, Inc (NASDAQ:TMUS).
6. ViacomCBS Inc. (NASDAQ:VIAC)
Stake Value of Odey Asset Management Group: $4,365,000
Percentage of Odey Asset Management Group’s 13F Portfolio: 1.16%
Number of Hedge Fund Holders: 64
Dividend Yield as of January 5: 2.90%
ViacomCBS Inc. (NASDAQ:VIAC) is a media and entertainment company that operates through TV Entertainment, Cable Networks, and Filmed Entertainment segments worldwide.
There were 64 hedge funds in total that held stakes in ViacomCBS Inc. (NASDAQ:VIAC) by the end of the third quarter of 2021. The total value of these stakes was $1.25 billion. ViacomCBS Inc. (NASDAQ:VIAC) covers 1.16% of Odey Asset Management Group’s 13F portfolio as of the third quarter of 2021. Mr. Odey’s stake in the company, via his hedge fund, was valued at $4.36 million.
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Disclosure: None. 10 Dividend Stocks in Crispin Odey’s Hedge Fund Portfolio is originally published on Insider Monkey.
