In this article, we discuss BBBY bull Ken Griffin’s 5 favorite stock picks. If you want to read about some more stocks in the Griffin portfolio, go directly to BBBY Bull Ken Griffin’s 10 Favorite Stock Picks.
5. Boston Scientific Corporation (NYSE:BSX)
Number of Hedge Fund Holders: 56
Boston Scientific Corporation (NYSE:BSX) makes and sells medical devices. According to the latest 13F filings, Citadel owned 12.5 million shares of Boston Scientific Corporation (NYSE:BSX) at the end of June 2022 worth $467 million, representing 0.11% of the portfolio. The company has been in the Citadel portfolio since late 2010.
On July 28, Canaccord analyst William Plovanic maintained a Buy rating on Boston Scientific Corporation (NYSE:BSX) stock and raised the price target to $45 from $43, backing Watchman, Farapulse, and Acurate to drive future growth of the firm.
Among the hedge funds being tracked by Insider Monkey, California-based investment firm Farallon Capital is a leading shareholder in Boston Scientific Corporation (NYSE:BSX), with 15 million shares worth more than $560 million.
4. T-Mobile US, Inc. (NASDAQ:TMUS)
Number of Hedge Fund Holders: 96
T-Mobile US, Inc. (NASDAQ:TMUS) provides mobile communication services. Regulatory filings reveal that Citadel owned over 3.6 million shares of T-Mobile US, Inc. (NASDAQ:TMUS) at the end of June 2022 worth $484 million, representing 0.12% of the portfolio.
On August 18, MoffettNathanson analyst Craig Moffett maintained an Outperform rating on T-Mobile US, Inc. (NASDAQ:TMUS) stock and raised the price target to $174 from $165, noting that the firm had a widening competitive advantage in the 5G space.
Among the hedge funds being tracked by Insider Monkey, Greenwich-based investment firm Viking Global is a leading shareholder in T-Mobile US, Inc. (NASDAQ:TMUS), with 9 million shares worth more than $1.2 billion.
3. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 252
Amazon.com, Inc. (NASDAQ:AMZN) is a diversified technology firm with core interests in e-commerce. Latest 13F filings show that Citadel owned over 4.7 million shares of Amazon.com, Inc. (NASDAQ:AMZN) worth $507 million at the end of the second quarter of 2022. The company has featured in the Citadel portfolio, with minor breaks, since the fourth quarter of 2010.
On August 17, Morgan Stanley analyst Brian Nowak maintained an Overweight rating on Amazon.com, Inc. (NASDAQ:AMZN) stock with a price target of $175, noting that a fee increase from the firm was a positive signal of confidence.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm Citadel Investment Group is a leading shareholder in Amazon.com, Inc. (NASDAQ:AMZN), with 66 million shares worth more than $7 billion.
In its Q2 2022 investor letter, Alphyn Capital Management, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:
“It is interesting to see how sentiment on Amazon.com, Inc. (NASDAQ:AMZN) went from positive to negative in one quarter, as it transpired that it too was not as immune to post-covid slowdowns as some, myself included, had expected. However, I feel confident that Amazon, as the apex predator in the e-commerce space, will navigate market softness better than most other retailers. Moreover, once it finishes with its current capex cycle, it will continue to improve margins. Andy Jassy is reportedly spending one-third of his time focused on capacity and supply issues in the retail division.”
2. Humana Inc. (NYSE:HUM)
Number of Hedge Fund Holders: 69
Humana Inc. (NYSE:HUM) operates as a health and well-being firm. According to the latest data, Citadel owned 1.1 million shares of Humana Inc. (NYSE:HUM) at the end of the second quarter of 2022 worth $518 million, representing 0.13% of the portfolio. The company has been in the Citadel portfolio since the fourth quarter of 2010.
On July 28, Oppenheimer analyst Michael Wiederhorn maintained an Outperform rating on Humana Inc. (NYSE:HUM) stock and increased the price target to $520 from $510, appreciating the second quarter earnings beat of the firm.
At the end of the second quarter of 2022, 69 hedge funds in the database of Insider Monkey held stakes worth $3.7 billion in Humana Inc. (NYSE:HUM), up from 66 in the preceding quarter worth $3.1 billion.
In its Q2 2022 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Humana Inc. (NYSE:HUM) was one of them. Here is what the fund said:
“During the quarter, we also sold our position in Humana Inc. (NYSE:HUM) in favor of names that, in our opinion, offer more potential upside. Geographically, we ended the quarter with 53% of the portfolio in the U.S., 38% in the U.K. and Europe, and 9% in Asia.”
1. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 184
Meta Platforms, Inc. (NASDAQ:META) is a tech firm that owns and runs social media platforms. Securities filings show that Citadel owned over 4.5 million shares of Meta Platforms, Inc. (NASDAQ:META) at the end of the second quarter of 2022 worth $738 million, representing 0.18% of the portfolio.
On July 28, RBC Capital analyst Brad Erickson maintained an Outperform rating on Meta Platforms, Inc. (NASDAQ:META) stock and lowered the price target to $190 from $200, noting that the Q2 results were in line with expectations but third quarter guidance below estimates.
At the end of the second quarter of 2022, 184 hedge funds in the database of Insider Monkey held stakes worth $18 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 200 in the preceding quarter worth $19 billion.
In its Q4 2021 investor letter, Boyar Value Group, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:META) was one of them. Here is what the fund said:
“Corporate executives can have many different reasons for selling shares (anticipation of tax law changes, philanthropy, diversification, and much more), but the sheer number of billionaire founders who sold shares in 2021 should raise eyebrows and might well be signaling a market top. Bloomberg’s Ben Steverman and Scott Carpenter report not only that Mark Zuckerberg of Meta Platforms, Inc. (NASDAQ:META) (formerly known as Facebook) sold shares in his company almost every day last year but also that the founders of Google sold ~$3.5 billion worth of stock (the first time either Sergey Brin or Larry Page has sold shares since 2017).”
You can also take a peek at 13 Best Hemp Stocks to Buy Now and Billionaire Dan Loeb’s Top 10 Stock Picks.
