Ken Griffin Stock Portfolio: Top 5 Stock Picks

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140

Citadel Investment Group’s Stake Value: $677,043,000

Apple Inc. (NASDAQ:AAPL) has been part of the Citadel portfolio since the last quarter of 2010. The hedge fund, as of Q3 2022, raised its stake in Apple Inc. (NASDAQ:AAPL) by 1075%, holding 4.89 million shares worth $677 million, representing 0.15% of the total 13F securities. On November 15, Apple Inc. (NASDAQ:AAPL) CEO Tim Cook observed that the company would source some of its chips from Arizona as the company seeks to diversify its supply chain. 

On November 14, JPMorgan analyst Samik Chatterjee noted that the impact of the latest supply chain constraints Apple Inc. (NASDAQ:AAPL) is facing at its assembly facility in Zhengzhou, China is hard to quantify. However, he believes that iPhone demand remains resilient and reiterated an Overweight rating on Apple Inc. (NASDAQ:AAPL) with a $200 price target.

According to Insider Monkey’s Q3 data, 140 hedge funds were long Apple Inc. (NASDAQ:AAPL), compared to 128 funds in the earlier quarter. Warren Buffett’s Berkshire Hathaway is the biggest position holder in the company, with 894.80 million shares worth $123.60 billion. 

Here is what Wedgewood Partners specifically said about Apple Inc. (NASDAQ:AAPL) in its Q3 2022 investor letter:

“Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as software, continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.”

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