Billionaire Ken Griffin’s Citadel’s Long Term Picks Include Apple Inc. (AAPL)

Cabot Oil & Gas Corporation (NYSE:COG) has been another of Griffin’s long term picks with the most recent filing disclosing ownership of just under 4 million shares. Revenue and earnings at the oil and gas exploration and production company, which is notable for its position in the Marcellus and Eagle Ford shale plays, have been rising sharply. However, markets have already priced in high future earnings growth and even the forward P/E is rather high at 28. Billionaire Dan Loeb’s Third Point initiated a position of 1.3 million shares in Cabot Oil & Gas Corporation (NYSE:COG) between January and March (see more stocks Loeb was buying).

According to the filing, Citadel had large holdings of PNC Financial Services Group Inc (NYSE:PNC) in both early 2011 and early 2013. At a market capitalization of $41 billion, the bank is valued at a small premium to book. It does feature a low trailing earnings multiple (of 14) for a company which has been increasing net income at a high rate, but Wall Street analysts seem to be expecting improvements to slow next year and so the forward P/E of 11 is actually higher than Citi’s. GAMCO Investors reported owning about 970,000 shares of PNC Financial Services Group Inc (NYSE:PNC); that fund is managed by billionaire Mario Gabelli.

The fund increased its stake in Broadcom Corporation (NASDAQ:BRCM), which has been another long term holding, by 42% in the first quarter of the year. The sell-side is predicting high earnings growth at Broadcom Corporation (NASDAQ:BRCM) over the next several years, resulting in a forward P/E of only 11 and a five-year PEG ratio of 0.8. Profits have been up, and revenue rose over 10% in its last quarterly report compared to the first quarter of 2012. Renaissance Technologies, whose founder Jim Simons is now a billionaire, was another significant shareholder in Broadcom according to our database (research Renaissance’s favorite stocks).

Disclosure: I own no shares of any stocks mentioned in this article.