22 Most Profitable Stocks of the Last 20 Years

Published on February 27, 2023 at 2:53 pm by Omer Farooq in Hedge Funds, News

In this article, we will take a look at the 22 most profitable stocks of the last 20 years. If you want to explore similar stocks, you can also take a look at 5 Most Profitable Stocks of the Last 20 Years.

On February 24, the Bureau of Economic Analysis released the Personal Income and Outlays for January 2023 which revealed that the PCE price index recorded a 0.6% increase in January. The PCE price index has gone up by 5.4% over the 12-month period from January 2022 to January 2023. Stocks went down after the announcement, with the S&P 500 closing below 4,000, the Nasdaq Composite closing below 11,500, and the Dow closing below 33,000.

Shortly after the BEA released the PCE numbers for January 2023, Fitz-Gerald Group Principal Keith Fitz-Gerald appeared on Yahoo Finance to discuss what this means for the Fed and how investors should position themselves. The sell-off on Friday was not a result of inflation, and was instead a result of “the amount of leverage that’s being carried”, noted Fitz-Gerald. According to Keith Fitz-Gerald, “if the Fed wants to raise more aggressively, all of these huge traders that are leveraged up to their eyeballs are not gonna want to carry that because it costs them more money”.

Keith Fitz-Gerald sees pressure into the second quarter of 2023 and he thinks that “the Fed might have to admit that it was wrong about rates and labor as it was about transitory”. Here are some comments from Keith Fitz-Gerald:

“I think, right now, the markets will correct themselves as investors figure out that their best friends are going to be companies. (Companies) that are still putting up great numbers, that still got great dividends, that are still moving forward into this market, because those are the kind of plays that you want to go for.”

We have compiled a list of 22 most profitable stocks of the last 20 years that have managed to weather economic downturns and generate huge profits. Some of the most profitable stocks of the last 20 years include JPMorgan Chase & Co. (NYSE:JPM), Microsoft Corporation (NASDAQ:MSFT), Exxon Mobil Corporation (NYSE:XOM), and Apple Inc. (NASDAQ:AAPL).

Photo by Austin Distel on Unsplash

Our Methodology

We started with the largest companies in the world, by market cap, and sourced each company’s annual net income from Y-Charts. We gathered net income for each company from 2003 up till 2022. We then calculated the average net income of each company over the past 20 years and narrowed down our selection to the 22 companies that had the highest average net income. We have ranked these stocks in ascending order of their average net income over the past 20 years.

Most Profitable Stocks of the Last 20 Years

22. Oracle Corporation (NASDAQ:ORCL)

Average Net Income: $7.33 billion

Number of Hedge Fund Holders: 65

Oracle Corporation (NASDAQ:ORCL) is one of the most profitable stocks of the last 20 years. The company’s annual net income for fiscal 2022 was $6.71 billion, and the company’s average net income over the past 20 years is $7.33 billion. As of February 24, Oracle Corporation (NASDAQ:ORCL) has returned 18.77% to investors over the past 6 months.

At the end of Q4 2022, Oracle Corporation (NASDAQ:ORCL) was held by 65 hedge funds. The total stakes of these hedge funds amounted to $4.32 billion, up from $3.27 billion in the previous quarter with 67 positions.

As of December 31, First Eagle Investment Management is the most prominent shareholder in Oracle Corporation (NASDAQ:ORCL) and has disclosed a position worth $1.69 billion.

Here is what ClearBridge Investments had to say about Oracle Corporation (NYSE:ORCL) in its fourth-quarter 2022 investor letter:

“Within IT, Oracle Corporation (NYSE:ORCL) cloud business is gaining broader adoption as its customers continue to move targeted workloads to the cloud. The stock benefited from management expressing a high level of confidence in being able to grow the business at essentially double its historical rate over the medium term.”

21. UnitedHealth Group Inc. (NYSE:UNH)

Average Net Income: $7.56 billion

Number of Hedge Fund Holders: 110

On January 13, UnitedHealth Group Inc. (NYSE:UNH) posted earnings for the fiscal fourth quarter of 2022. The company reported an EPS of $5.34 and outperformed EPS estimates by $0.17. The company’s annual net income for fiscal 2022 amounted to $20.12 billion. With a 20-year average net income of $7.56 billion, UnitedHealth Group Inc. (NYSE:UNH) is one of the most profitable stocks of the last 20 years.

UnitedHealth Group Inc. (NYSE:UNH) was spotted on 110 investors’ portfolios at the end of Q4 2022. These funds held collective positions worth $11.4 billion in the company. This is compared to 110 hedge funds in the previous quarter with stakes worth $10.3 billion. As of December 31, GQG Partners is the largest shareholder in UnitedHealth Group Inc. (NYSE:UNH) and has a position worth $2.10 billion in the company.

Here is what Distillate Capital had to say about UnitedHealth Group Incorporated (NYSE:UNH) in its third-quarter 2022 investor letter:

“The largest sector change in the rebalance was a six-percentage point increase in technology. The biggest component of this increase was the introduction of a 4% weight in Apple, which is discussed further below. Offsetting this increased tech weight was a 3-percentage point decrease in industrials and a two-percentage point decline in health care. The biggest reductions in weight were UnitedHealth Group Incorporated (NYSE:UNH), which is capped at a 2% weight as it ranks in the bottom quartile of the fund by valuation.”

20. Goldman Sachs Group, Inc. (NYSE:GS)

Average Net Income: $8.29 billion

Number of Hedge Fund Holders: 74

At the end of the fourth quarter of 2022, 74 hedge funds disclosed positions in Goldman Sachs Group, Inc. (NYSE:GS). The total value of these stakes amounted to $4.89 billion. This is compared to 69 hedge funds in the preceding quarter with stakes worth $4.56 billion. The hedge fund sentiment for the stock is positive.

On average, Goldman Sachs Group, Inc. (NYSE:GS) has generated an annual net income of $8.29 billion over the last 20 years. The company’s annual net income for fiscal 2022 amounted to $11.26 billion. Goldman Sachs Group, Inc. (NYSE:GS) is ranked twentieth among the most profitable stocks of the last 20 years.

As of December 31, Eagle Capital Management owns over 3.2 million shares of Goldman Sachs Group, Inc. (NYSE:GS) and is the largest stockholder in the company.

Some of the most profitable stocks of the last 20 years that are popular among elite money managers include Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), Microsoft Corporation (NASDAQ:MSFT), Exxon Mobil Corporation (NYSE:XOM), and Apple Inc. (NASDAQ:AAPL).

19. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Average Net Income: $8.86 billion

Number of Hedge Fund Holders: 86

Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has managed to generate huge profits over the past 20 years. The company’s annual net income for fiscal 2022 was $34.23 billion. With a 20-year average annual net income of $8.86 billion, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has cemented its place on our list of the most profitable stocks of the last 20 years.

At the end of Q4 2022, 86 hedge funds were long Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) and disclosed positions worth $10.23 billion in the company. Of those, Lone Pine Capital was the leading investor in the company and disclosed a position worth $774 million.

Here is what Baron Funds had to say about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its third-quarter 2022 investor letter:

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted from performance due to the global macroeconomic slowdown and softening demand for consumer electronics. We retain conviction that Taiwan Semi’s technological leadership, pricing power, and exposure to secular growth markets, including high-performance computing, automotive, and IoT, will allow the company to deliver strong revenue growth over the next several years.”

18. Novartis AG (NYSE:NVS)

Average Net Income: $9.74 billion

Number of Hedge Fund Holders: 22

For fiscal Q4 2022, Novartis AG (NYSE:NVS) generated an EPS of $1.52 and outperformed EPS estimates by $0.09. The company’s annual net income for fiscal 2022 amounted to $6.95 billion. Novartis AG (NYSE:NVS) is one of the most profitable stocks of the last 20 years and has a 20-year average annual net income of $9.74 billion.

At the close of the fourth quarter of 2022, Novartis AG (NYSE:NVS) was spotted on 22 investors’ portfolios that disclosed collective positions worth $1.06 billion in the company. This is compared to 26 hedge funds in the preceding quarter with stakes worth $783 million.

As of December 31, Two Sigma Advisors is the most prominent investor in Novartis AG (NYSE:NVS) and has disclosed a position worth $145.7 million in the company.

Here is what Madison Funds had to say about Novartis AG (NYSE:NVS) in its third-quarter 2022 investor letter:

“We sold our position in Novartis. We like the company’s track record of innovation, and its diversified portfolio of drugs. However, we’ve become increasingly concerned about the outlook for some of its recently launched therapeutics, as well as some generic competition in a few of its mature drugs. If pressed, we still like the odds that Novartis will do well, but the outlook is a little cloudier than it’s been in a while. As noted above, we’ve been big fans of its Alcon unit for many years, and now that Alcon is independent, we decided to concentrate our investment there.”

17. BHP Group (NYSE:BHP)

Average Net Income: $9.81 billion

Number of Hedge Fund Holders: 28

At the end of Q4 2022, BHP Group (NYSE:BHP) was held by 28 hedge funds. The total stakes of these hedge funds amounted to $1.42 billion, up from $1.03 billion in the previous quarter with 20 positions. The hedge fund sentiment for the stock is positive.

BHP Group (NYSE:BHP) is ranked seventeenth on our list of the most profitable stocks of the last 20 years. The company has generated an average annual net income of $9.81 billion over the past 20 years. The company’s net income for fiscal 2022 amounted to $30.90 billion.

As of December 31, Two Sigma Advisors is the top investor in BHP Group (NYSE:BHP) and has disclosed a position worth $46.9 million in the company.

16. The Procter & Gamble Company (NYSE:PG)

Average Net Income: $10.48 billion

Number of Hedge Fund Holders: 74

On January 19, The Procter & Gamble Company (NYSE:PG) reported earnings for the fiscal second quarter of 2023. The company reported an EPS of $1.59 and generated a revenue of $20.77 billion. With a 20-year average annual net income of $10.48 billion, The Procter & Gamble Company (NYSE:PG) is one of the most profitable stocks of the last 20 years.

At the close of Q4 2022, 74 hedge funds were long The Procter & Gamble Company (NYSE:PG) and held collective stakes of $4.71 billion in the company. This is compared to 69 positions in the previous quarter with stakes worth $4.08 billion. The hedge fund sentiment for the stock is positive.

As of December 31, Ray Dalio’s Bridgewater Associates is the most prominent shareholder in The Procter & Gamble Company (NYSE:PG) and owns over 4.9 million shares of the company.

Here is what Rowan Street Capital had to say about The Procter & Gamble Company (NYSE:PG) in its fourth-quarter 2022 investor letter:

“Let’s look at The Procter & Gamble Company (NYSE:PG). Dividend yield is 2.4%. Earnings are forecasted to grow at 5.9%, and its current earnings multiple is at 25x. Now, lets say over the next 3-5 years the market loses interest in the “safe”, mature companies that grow at anemic rates and gets an appetite for growth again. It’s very unlikely that Mr. Market will be paying 25x for 5.9% earnings growth. Lets assume that multiple declines to the market average of 18x — that would be ~6.9% drag per year on the total expected return over next 3-5 years. If we get 2.4% (dividend) + 5.9% (earnings growth) – 6.9% (decrease in earnings multiple) = 1.4% (annual return we can expect on average from this stock).”

15. Verizon Communications Inc. (NYSE:VZ)

Average Net Income: $10.83 billion

Number of Hedge Fund Holders: 56

Verizon Communications Inc. (NYSE:VZ) has managed to generate remarkable profits over the past 20 years. The company’s net income for fiscal 2022 amounted to $21.26 billion and the company has generated an annual net income of $10.83 billion over the past 20 years. Verizon Communications Inc. (NYSE:VZ) is one of the most profitable stocks of the last 20 years.

At the close of the fourth quarter of 2022, 56 hedge funds held stakes in Verizon Communications Inc. (NYSE:VZ). The total value of these stakes amounted to $1.53 billion, up from $1.42 billion in the previous quarter with 62 positions. As of December 31, Diamond Hill Capital is the leading investor in Verizon Communications Inc. (NYSE:VZ) and owns over 6.7 million shares of the company.

Here is what Matrix Asset Advisors had to say about Verizon Communications Inc. (NYSE:VZ) in its third-quarter 2022 investor letter:

“We sold the entire position in Verizon Communications Inc. (NYSE:VZ), which was a disappointing investment, on concerns that the company is losing market share in a very competitive business and because we believed we had better use for the funds elsewhere.”

14. TotalEnergies SE (NYSE:TTE)

Average Net Income: $11.53 billion

Number of Hedge Fund Holders: 21

At the end of Q4 2022, 21 hedge funds held positions in TotalEnergies SE (NYSE:TTE). The total value of these positions was $1.93 billion. This is compared to 22 hedge funds in the previous quarter with stakes worth $1.56 billion.

In fiscal 2022, TotalEnergies SE (NYSE:TTE) generated an annual net income of $20.53 billion. The company has generated an annual net income of $11.53 billion, on average, over the last 20 years. TotalEnergies SE (NYSE:TTE) is ranked fourteenth on our list of the most profitable stocks of the last 20 years.

As of December 31, Alyeska Investment Group is the top investor in TotalEnergies SE (NYSE:TTE) and has disclosed a position worth $60.5 million in the company.

Here is what Artisan Partners had to say about TotalEnergies SE (NYSE:TTE) in its third-quarter 2022 investor letter:

“We added one new position this quarter, TotalEnergies SE (NYSE:TTE). TTE is one of the world’s largest energy companies. It develops and produces oil and gas, produces and sells refined products, is one of the largest producers and traders of LNG, and owns a large portfolio of renewable power generating assets. TTE has one of the lowest cost portfolios of oil and gas assets and therefore one of the lowest breakeven points in the industry. It also has one of the best balance sheets in the industry. We estimate it will reach a net cash position sometime in 2023.

The valuation of TTE—and that of Shell—is fascinating. TTE sells at approximately 4X earnings and has a 5% dividend yield. With its current buyback program and a recently announced special dividend, the owners yield is more than 10%. The valuation and owners yield are not dissimilar to those of Shell, which we also own and which trades at just under 5X earnings. To say that a discount is attached to European oil companies relative to US peers is an understatement. Exxon Mobil sells at 8X earnings, Chevron 9X and Conoco 8X. If TTE and Shell redomiciled to the US, their share prices would probably double.

We have a few theories for the valuation anomaly. First, as mentioned above, Europe generally trades at a big discount to the US. In the case of TTE and Shell, this makes no economic sense. The oil and gas business is a global one, and TTE and Shell have attractive assets. The main explanation, we believe, is that large sections of the European asset management industry will not invest in oil and gas because of ESG restrictions. Yet if the recent war in Ukraine and the current energy crisis have shown us nothing else, the supply of energy is an enormous social good. Indeed, it is an existential good. Moreover, it is companies such as TTE that will invest billions to supply the LNG that Europe desperately needs to restore its economy and reduce the crushing cost burden on families who must now choose between heating their homes and eating. Finally, TTE is also investing billions per year in renewable power generating assets such as wind and solar. Such assets will likely never replace clean burning natural gas and nuclear as base power suppliers, but they are a valuable and clean adjunct to modern grids. We believe TTE’s renewable portfolio is worth between $25 billion and $35 billion and is moving from almost no profit contribution toward meaningful levels of profit over the next few years. We wonder how it makes sense for investors to disinvest from these kinds of assets on ethical grounds.”

13. Johnson & Johnson (NYSE:JNJ)

Average Net Income: $12.67 billion

Number of Hedge Fund Holders: 84

On January 24, Johnson & Johnson (NYSE:JNJ) posted earnings for the fiscal fourth quarter of 2022. The company reported an EPS of $2.35 and outperformed EPS estimates by $0.11. The company’s annual net income for fiscal 2022 amounted to $17.94 billion. On average, Johnson & Johnson (NYSE:JNJ) has generated an annual net income of $12.67 billion over the last 20 years and is one of the most profitable stocks of the past 2 decades.

At the close of Q4 2022, 84 hedge funds were long Johnson & Johnson (NYSE:JNJ) and disclosed positions worth $5.57 billion in the company. This is compared to 85 hedge funds in the preceding quarter with positions worth $5.46 billion. As of December 31, Bridgewater Associates is the largest shareholder in the company and owns over 3.5 million shares.

12. Pfizer Inc. (NYSE:PFE)

Average Net Income: $12.83 billion

Number of Hedge Fund Holders: 75

At the end of the fourth quarter of 2022, 75 hedge funds held stakes in Pfizer Inc. (NYSE:PFE). The total value of these stakes amounted to $2.50 billion, up from $2.44 billion in the preceding quarter with 77 positions.

For fiscal 2022, Pfizer Inc. (NYSE:PFE) generated an annual net income of $31.37 billion, and with a 20-year average annual net income of $12.83 billion, the stock is placed twelfth among the most profitable stocks of the last 20 years.

As of December 31, AQR Capital Management is the most prominent shareholder in the company and has disclosed a position worth $502.7 million.

Here is what Diamond Hill Capital had to say about Pfizer Inc. (NYSE:PFE) in its third-quarter 2022 investor letter:

“Also among our bottom contributors were health care products manufacturer Abbott Labs, global pharmaceutical company Pfizer Inc. (NYSE:PFE), media and technology giant Alphabet, and insurance company American International Group (AIG). Although Pfizer continues to report strong performance of its core drugs, sales of its COVID vaccine and treatment have likely peaked and sales are expected to decline going forward. We remain optimistic about the company long term as we believe management is taking the company in the right direction, focusing R&D, and making strategic acquisitions with profits generated from COVID vaccine sales.”

11. Walmart Inc. (NYSE:WMT)

Average Net Income: $12.93 billion

Number of Hedge Fund Holders: 66

Walmart Inc. (NYSE:WMT) has generated an annual net income of $12.93 billion, on average, over the past 20 years. The company reported earnings for the fiscal fourth quarter of 2023 on February 21 and beat both EPS and revenue estimates. Walmart Inc. (NYSE:WMT) reported an EPS of $1.71 and outperformed EPS expectations by $0.20. The company’s revenue for the quarter amounted to $162.74 billion, up 7.40% year over year and ahead of Wall Street consensus by $4.07 billion.

At the end of Q4 2022, 66 hedge funds were long Walmart Inc. (NYSE:WMT) and disclosed positions worth $4.85 billion in the company. This is compared to 68 hedge funds in the previous quarter with stakes worth $4.08 billion. As of December 31, GQG Partners is the top investor in Walmart Inc. (NYSE:WMT) and has a position worth $993.2 million in the company.

Here is what Leaven Partners had to say about Walmart Inc. (NYSE:WMT) in its fourth-quarter 2022 investor letter:

“In our last quarterly letter, I briefly mentioned that the consensus estimates for corporate profits appeared to be a bit too sanguine. I referenced a Reuters article that reported, as of June 17, Wall Street expected S&P 500 earnings to grow by 9.6% in 2022, which was up from 8.8% in April and from 8.4% in January. That tune began to change at the end of July and accelerated in August and September, as major players, such as Walmart (NYSE:WMT), has recently issued profit warnings and/or have withdrawn guidance. In response, Wall Street has altered its outlook: lowering third-quarter profit growth to 4.6%^[2] from 7.2% in early August and slashing full-year profit growth to 4.5%.”

10. Toyota Motor Corporation (NYSE:TM)

Average Net Income: $13.26 billion

Number of Hedge Fund Holders: 10

Japanese auto giant Toyota Motor Corporation (NYSE:TM) is one of the most profitable stocks of the last 20 years. The company’s annual net income for fiscal 2022 amounted to $25.39 billion and the company has generated an annual net income of $13.26 billion, on average, over the past 20 years.

At the end of Q4 2022, Toyota Motor Corporation (NYSE:TM) was held by 10 hedge funds that disclosed collective positions worth $790 million in the company. This is compared to 12 hedge funds in the previous quarter with stakes worth $741.8 million. As of December 31, D E Shaw is the top investor in the company and has a stake worth $2.06 billion.

in addition to Toyota Motor Corporation (NYSE:TM), other companies that have managed to remain profitable over the past 2 decades include JPMorgan Chase & Co. (NYSE:JPM), Microsoft Corporation (NASDAQ:MSFT), Exxon Mobil Corporation (NYSE:XOM), and Apple Inc. (NASDAQ:AAPL).

9. Wells Fargo & Company (NYSE:WFC)

Average Net Income: $14.57 billion

Number of Hedge Fund Holders: 87

Wells Fargo & Company (NYSE:WFC) was spotted on 87 investors’ portfolios at the end of Q4 2022. The total stakes of these hedge funds amounted to $5.56 billion, up from $4.95 billion in the previous quarter with 77 positions. The hedge fund sentiment for the stock is positive.

With a 20-year average annual net income of $14.57 billion, Wells Fargo & Company (NYSE:WFC) is ranked ninth among the most profitable stocks of the last 20 years.

As of December 31, Eagle Capital Management is the largest shareholder in Wells Fargo & Company (NYSE:WFC) and has disclosed a position worth $1.1 billion in the company.

Here is what Oakmark Funds had to say about Wells Fargo & Company (NYSE:WFC) in its third-quarter 2022 investor letter:

“Wells Fargo & Company (NYSE:WFC) has been a long-time holding in the Oakmark Fund. Despite the positives of higher interest rates and the company making good progress on reducing expenses and regulatory consent orders, Wells Fargo shares have fallen one-third from their highs earlier this year to roughly 6.5x our estimate of normalized earnings power, and the stock ended the quarter at ~1x next year’s tangible book value. We find this is far too cheap for a strong banking franchise capable of tangible returns in the low-to-mid teens across business cycles.”

8. Bank of America Corporation (NYSE:BAC)

Average Net Income: $14.64 billion

Number of Hedge Fund Holders: 100

Bank of America Corporation (NYSE:BAC) reported an annual net income of $27.53 billion in fiscal 2022. The company has generated an annual net income of $14.64 billion, on average, over the past 20 years. Bank of America Corporation (NYSE:BAC) is one of the most profitable stocks of the last 20 years.

At the close of the fourth quarter of 2022, 100 hedge funds were long Bank of America Corporation (NYSE:BAC) and disclosed positions worth $37.5 billion in the company. This is compared to 97 hedge funds in the previous quarter with stakes worth $35.6 billion. The hedge fund sentiment for the stock is positive.

As of December 31, Berkshire Hathaway is the most prominent shareholder in Bank of America Corporation (NYSE:BAC) and has disclosed a position worth $33.45 billion in the company.

Here is what Ariel Investments had to say about Bank of America Corporation (NYSE:BAC) in its third-quarter 2022 investor letter:

“We initiated three new positions in the quarter. We added leading financial institution Bank of America Corporation (NYSE:BAC) which serves individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services. The current company was formed through various mergers including NationsBank, FleetBoston, US Trust, Countrywide Financial, and Merrill Lynch with the legacy commercial bank to form a national banking powerhouse and bulge bracket investment firm. As one of the ‘Big Four’ U.S. banks it enjoys scale driven cost advantages and economies of scale which provide meaningful competitive advantages and potential for strong returns in the largely commoditized banking industry. A survivor of the financial crisis, BAC has emerged with a solid capital base and stands to benefit from a rising interest rate environment.”

7. Chevron Corporation (NYSE:CVX)

Average Net Income: $15.51 billion

Number of Hedge Fund Holders: 57

At the end of the fourth quarter of 2022, Chevron Corporation (NYSE:CVX) was a part of 57 investors’ portfolios. The total stakes of these hedge funds amounted to $32.24 billion, up from $27.13 billion in the preceding quarter with 66 positions. As of December 31, Berkshire Hathaway is the top investor in the company and has a position worth $29.25 billion.

Over the past 20 years, Chevron Corporation (NYSE:CVX) has generated an annual net income of $15.51 billion, on average. The stock is the seventh most profitable stock of the last 20 years.

Here is what Diamond Hill Capital had to say about Chevron Corporation (NYSE:CVX) in its fourth-quarter 2022 investor letter:

“Most recently in Q4, we increased our energy exposure by reinitiating a position in a company we know well and have owned in the past, integrated oil and gas company Chevron Corporation(NYSE:CVX).

We previously owned Chevron as recently as February 2022. We sold our position at that time due to heightened risk associated with operations in Kazakhstan, which sends oil through a pipeline that runs through Russia out to the Black Sea. When Russia invaded Ukraine, we believed there was real risk that something would happen to inhibit Chevron’s ability to get that oil to the market. We didn’t believe that risk was reflected in the stock price, so we sold our position. Today, 10+ months into the Ukraine crisis, more information has become available regarding the Kazakhstan operations, and the associated risks are now well-known. We believe those risks are fully priced into the current stock valuation. Chevron is one of the best operators in its field, with a diversified portfolio and strong management, and we took the opportunity to reinvest when the stock was trading below our estimate of intrinsic value.”

6. Shell plc (NYSE:SHEL)

Average Net Income: $18.00 billion

Number of Hedge Fund Holders: 40

On February 2, Shell plc (NYSE:SHEL) posted strong earnings for the fiscal fourth quarter of 2022. The company reported an EPS of $2.60 and outperformed EPS estimates by $0.29. Shell plc (NYSE:SHEL) generated an annual net income of $42.31 billion in fiscal 2022. The stock is one of the most profitable stocks of the last 20 years, and has a 20-year average annual net income of $18 billion.

At the close of Q4 2022, 40 hedge funds held stakes in Shell plc (NYSE:SHEL). The total value of these stakes amounted to $3.04 billion. As of December 31, Orbis Investment Management is the largest shareholder in Shell plc (NYSE:SHEL) and has a position worth $393.1 million.

Click to continue reading and see 5 Most Profitable Stocks of the Last 20 Years.

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A New Dawn is Coming to U.S. Stocks

Published on May 2, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

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