In this article we discuss billionaire Ken Griffin’s top 5 stock holdings. If you want to read our detailed analysis of Ken Griffin’s hedge fund performance and returns, go directly to Billionaire Ken Griffin’s Top 10 Stock Holdings.
5. T-Mobile Us Inc (NASDAQ: TMUS)
Citadel shed 39% of its stake in T-Mobile in the third quarter, entering the next quarter with 4.15 million shares of the company, worth $474.96 million. T-Mobile shares gained in January after Morgan Stanley reiterated its Overweight rating based on the company’s announcement that it added 1.7 million net subscribers in the fourth quarter. KeyBanc also praised the numbers, reiterating its Overweight rating with a price target of $135.
A total of 94 hedge funds tracked by Insider Monkey are bullish on T-Mobile, as of the end of the third quarter.
Related Article: Where Do Hedge Funds Stand On T-Mobile US, Inc. (TMUS)?
4. NVIDIA Corporation (NASDAQ: NVDA)
Nvidia shares account for 0.14% of Citadel’s portfolio. In the third quarter, the hedge fund increased its stake in the company by 91%, ending the period with 921,164 shares, worth $498.6 million. Citi gave bullish comments about Nvidia stock in January, citing recovery in hyperscale-led data center demand in the first half of 2021. The firm also expects a strong demand in PC gaming segment despite supply issues.
A total of 82 hedge funds tracked by Insider Monkey held stakes in Nvidia at the end of the third quarter, down from 92 funds a quarter earlier. At the end of the fourth quarter, Ken Fisher’s Fisher Asset Management owns 1.2 million shares of the company, worth 620.68 million.
Here’s what Vulcan Value Partners said about NVDA in their Q3 letter:
“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. During the first quarter of 2019, its stock price declined considerably due to the combination of three factors. A capital spending hiatus by cloud providers, the collapse in demand for cryptocurrency mining, along with the end of the product cycle in its most recent gaming chip caused NVIDIA to miss its quarterly earnings estimates. As a result, we were given the opportunity to purchase NVIDIA with a significant margin of safety in March of 2019. NVIDIA’s value grew substantially while we owned it, and we continued to follow our discipline by trimming and adding to the company as its price fluctuated. We exited NVIDIA when its stock price rose close to our estimate of fair value. The combination of its value growth and the closing of the price to value gap provided substantial returns over our investment period.”
Related Article: Monday’s Top 10 Gainers in Focus
3. Activision Blizzard, Inc. (NASDAQ: ATVI)
Citadel loaded up on gaming giant Activision in the third quarter, increasing its stake in the company by 44%. The fund now owns 7.73 million shares, worth $625.68 million. Germany’s Berenberg recently gave bullish comments about Activision stock on the back of the rise in gaming amid stay-at-home trends. The bank raised its price target for the stock to $100 from $93.
As of the end of the third quarter, 93 hedge funds tracked by Insider Monkey held long positions in Activision.
Related Article: Activision Blizzard Price Target: $100
2. Facebook, Inc. Common Stock (NASDAQ: FB)
Citadel increased its hold in Facebook by 15369% in the third quarter, concluding the period with 2.9 million shares of the company, having a total worth of $758.37 million. Citadel is one of the 230 hedge funds that reported owning stakes in Facebook at the end of September 2020. Facebook beat Q4 earnings estimates, but warned that it will be impacted by the privacy changes in Apple’s iOS 14.
Facebook said its users in the U.S. fell to 195 million daily active users from 196 million a quarter earlier.
Related Article: ‘Facebook (FB) Inc. is at A Bargain Price’ Says Oakmark Funds
1. Amazon.com, Inc. (NASDAQ: AMZN)
Ken Griffin slashed his stake in Amazon by 36% in the third quarter, ending the period with 494,435 shares of the company, worth $1.56 billion. Amazon recently reported yet another spectacular quarter, crushing past analysts’ forecasts. The company reported its largest quarter by revenue of all time at $125.56 billion. Amazon said that its results were helped by a record holiday season, in which it delivered over a billion products to its customers worldwide.
Amazon CEO Jeff Bezos announced that he will step down from his position as the company CEO. He will be replaced by AWS CEO Andy Jassy.
Amazon is extremely popular among the smart money, as 245 hedge funds tracked by Insider Monkey held stakes in the e-commerce giant entering the fourth quarter.
You can also take a peek at Billionaire David Siegel’s Top 10 Stock Picks and 10 Best Defense Stocks To Buy For 2021.
