Ken Griffin’s Wellington Fund Delivers Mind-Numbing Returns and Its Top 5 Stocks (2024)

In this article, we will explore Ken Griffin’s Wellington Fund delivers mind-numbing numbers and its top 5 stocks. If you prefer reading our introduction to Ken Griffin and his hedge fund, take a look at Ken Griffin’s Wellington Fund Delivers Mind-Numbing Returns and Its Top 15 Stocks.

5. Humana Inc. (NYSE:HUM)

Citadel Investment Group’s Equity Stake: $773.53 Million
Number of Hedge Fund Holders: 81

Humana Inc. (NYSE:HUM) is another stock that diversifies Citadel Investment Group holdings in the healthcare sector. It operates as a health and well-being company offering individuals medical and supplemental benefits plans. Humana Inc. (NYSE:HUM) boasts of contracts with the Centers for Medicare and Medicaid Services.

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4. NVIDIA Corporation (NASDAQ:NVDA)

Citadel Investment Group’s Equity Stake: $893.41 Million
Number of Hedge Fund Holders: 180

NVIDIA Corporation (NASDAQ:NVDA) was a breakout stock in 2023, rallying by more than 230% and helping Ken Griffin’s Wellington Fund deliver mind-numbing returns. NVIDIA Corporation (NASDAQ:NVDA), which designs, develops, and sells graphic processing units, has seen its fortunes and sentiments improve amid the artificial intelligence boom.

As NVIDIA Corporation (NASDAQ:NVDA) continues to deliver record-breaking revenues and earnings, it should allow the Ken Griffin’s hedge fund to provide mind-numbing returns. Consequently, the Citadel Investment Group increased its stakes in the company by 57% in Q3 to $893.41 million.

As of the end of September quarter, 180 hedge funds tracked by Insider Monkey had stakes in NVIDIA Corporation (NASDAQ:NVDA), up from 175 in the previous quarter. Rajiv Jain’s GQG Partners was one of the remarkable shareholder of NVIDIA Corporation (NASDAQ:NVDA) with stakes worth $6.11 billion.

Blue Tower Asset Management made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in itsQ3 2023 investor letter:

“In addition to the use of larger datasets, the training speed of AI models has increased dramatically. NVIDIA Corporation (NASDAQ:NVDA) ‘s stock almost tripled in the first three quarters of this year with a 197% gain, and a large reason for this is the huge role they have played in recent AI improvements. Nvidia’s single GPU AI training speed performance has increased by a dramatic 1000x in 10 years, with only 2.5x coming from Moore’s Law3-driven increases in chip density. Besides better chip manufacturing, there were three other improvement factors at play: simplifications in number representation for the weights of the neural networks, more complex mathematical instructions for reducing the computational overhead involved in mathematical calculations, and increased neuron sparsely (in neural networks, some neurons are useless and can be pruned from the network without reducing performance significantly).

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3. Boston Scientific Corporation (NYSE:BSX)

Citadel Investment Group’s Equity Stake: $1.12 Billion
Number of Hedge Fund Holders: 65

Boston Scientific Corporation (NYSE:BSX) is Ken Griffin’s biggest holding in the healthcare sector. The company makes and sells medical devices globally for interventional specialties. Boston Scientific Corporation (NYSE:BSX) also offers technologies for heart disorders.

Boston Scientific Corporation (NYSE:BSX) was one of the stocks that allowed Ken Griffin’s Wellington Fund to deliver mind-numbing returns after gaining 23% in 2023. Citadel Investment Group increased its stakes in Boston Scientific Corporation (NYSE:BSX) by 37% in Q3 to $1.12 billion.

Insider Monkey’s third quarter of 2023 survey covering 910 hedge funds it was revealed that 65 institutional investors had invested in Boston Scientific Corporation (NYSE:BSX). During the third quarter, Ken Griffin’sCitadel Investment Groupwas the biggest shareholder.

In its Q3 2023 investor letter, Baron Funds, an asset management firm, mentioned Boston Scientific Corporation (NYSE:BSX).Hereis what the fund said:

“We added to our position in Boston Scientific Corporation (NYSE:BSX), a global developer, manufacturer, and marketer of medical devices that are used in a broad range of interventional medical specialties. We wrote about Boston Scientific last quarter. We believe Boston Scientific can grow revenue in the high single digits, driven by differentiated products used to treat atrial fibrillation, among others. The company held an Investor Day during the quarter at which management established financial targets for the 2024– 2026 period calling for an organic sales CAGR of 8% to 10%, 150 basis points of margin expansion and strong double-digit adjusted EPS growth and improved free-cash-flow conversion. We think this growth profile makes Boston Scientific a compelling name within the large medical device universe.”

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2. Activision Blizzard Inc. (NASDAQ:ATVI)

Citadel Investment Group’s Equity Stake: $1.41 Billion
Number of Hedge Fund Holders: 111

Activision Blizzard is a publisher of video games that it uses to connect and engage the world through epic entertainment. The company makes fun games like Call of Duty, Candy Crush, and World of WarCraft. It also owns some of the most famous entertainment brands.

Before Microsoft completed a $68.7 billion acquisition of the company in October of last year, Citadel Investment Group held stakes worth $1.4 billion as of the end of the third quarter.

111 out of the 910 hedge funds part of Insider Monkey’s database had bought the firm’s shares as of Q3 2023 end. In Q3 2023, Ken Griffins Citadel Investment Group was the largest investor courtesy of its $1.4 billion investment.

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1. Microsoft Corp (NASDAQ:MSFT)

Citadel Investment Group’s Equity Stake: $1.59 Billion
Number of Hedge Fund Holders: 306

Microsoft Corp (NASDAQ:MSFT) is the top technology stock that has allowed Ken Griffin’s Wellington Fund to deliver mind-numbing returns over the years. The Redmond, Washington-based company offers Office and Microsoft Teams software solutions. Microsoft Corp (NASDAQ:MSFT) also provides cloud computing solutions under Azure while flexing its muscles in the multibillion-dollar gaming sector through the Xbox console.

Microsoft Corp (NASDAQ:MSFT) gained over 50% in market value in 2023, benefiting from its investment in artificial intelligence through OpenAI. While the stock trades at a price-to-earnings multiple of 37, it also rewards investors with a 0.77% yield. Citadel Investment Group increased its stakes in Microsoft Corp (NASDAQ:MSFT) by 48% in Q3 2023 to $1.59 billion.

306 out of the 910 hedge funds part of Insider Monkey’s database had bought Microsoft Corp (NASDAQ:MSFT)’s shares as of the end of Q3 2023. In Q3 2023, Michael Larson’swas the largest investor courtesy of its $12.4 billion investment.

Here is what Vulcan Value Partners said about Microsoft Corporation (NASDAQ:MSFT) in its fourth quarter 2023 investor letter:

“Microsoft Corporation(NASDAQ:MSFT) is the world’s largest software company with a broad range of offerings including Microsoft Office, gaming, Azure cloud computing, LinkedIn, and more. The company experienced a good quarter with solid growth and strong margins. The company is benefiting from its investments in artificial intelligence. Microsoft is deeply entrenched within its customer base, has high switching costs, and is benefiting from growth tailwinds such as cloud computing and artificial intelligence. We think an underappreciated strength of Microsoft’s business model is that not only are its products designed to work together, but it is also more economical for the customer when multiple products are bundled together. This bundling approach positions Microsoft well to gain market share over time.”

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