As we continue to analyze the latest 13F filings for some of the major hedge funds in the U.S., I would like to take a look at Israel Englander’s Millennium Management’s top tech stock picks in order to find out what this highly successful fund is betting on –although the fund clearly prefers utility and energy stocks. The companies involved are: Apple Inc. (NASDAQ:AAPL), Activision Blizzard, Inc. (NASDAQ:ATVI) and Facebook Inc (NASDAQ:FB).
Millennium Management’s largest tech stock position is the one it holds in Apple Inc. (NASDAQ:AAPL), the famed $602 billion market cap computers and devices manufacturer. After acquiring 1.75 million shares over the second quarter of the year, the fund disclosed ownership of 2.03 million shares of Apple Inc. (NASDAQ:AAPL), worth more than $189 million.
Other major hedge fund managers betting on Apple Inc. (NASDAQ:AAPL) are Carl Icahn of Icahn Capital LP, who owns or 52.76 million shares, worth more than $4.9 billion, D.E. Shaw, with 11.88 million shares, worth more than $1.1 billion, and Ken Fisher of Fisher Asset Management, with 10.74 million shares. Both Mr. Shaw and Mr. Fisher increased their exposure to the company between early-April and late-June.
Second in line is Activision Blizzard, Inc. (NASDAQ:ATVI), the world’s largest video game publisher, with a market cap of $16.5 billion. The company saw Millennium Management more than double its exposure over the second quarter, disclosing ownership of 5.42 million shares, worth roughly $121 million. The stock is already up 5.3% since the end of the quarter, and almost 30% year-to-date.
Once again, D.E. Shaw can be counted amongst the company’s supporters. The fund is the second largest hedge fund shareholder at Activision Blizzard, Inc. (NASDAQ:ATVI), only trailing Mr. Englader’s fund. D.E. Shaw almost quintupled its stake in the gaming company and now owns 5.28 million shares of common stock.
Last on this list is Facebook Inc (NASDAQ:FB), the $195 billion market cap social networking company. Between April and June, Millennium Management added 68% to its holding in the company, and now owns 1.6 million shares of common stock, worth more than $108 million.
Philippe Laffont’s Coatue Management holds the largest long position at Facebook Inc (NASDAQ:FB) – amongst the funds that we track, with 5.87 million shares. However, the fund declared an 8% diminution in its stake over the second quarter. Other famed hedge fund managers betting on the social media behemoth are Ken Griffin, who owns 4.57 million shares –following a 14% increase in his wage, and Cliff Asness, who holds 4.28 million shares, after boosting his bet by 28%.
Millennium Management is a hedge fund founded in 1989 by billionaire Israel Englander. Its highly diversified equity portfolio is valued at more than $36.1 billion, and comprises more than 3,000 equity positions. According to the fund itself, “Millennium has differentiated itself from other investment management firms through its consistent ability to generate returns that have not been correlated to the general market, its investment in and development of advanced trading technology and risk management systems, and the caliber of its trading talent and senior management team” (Millennium).
Disclosure: Javier Hasse holds no position in any stocks or funds mentioned