5 Biggest Quant Funds in The World

1. Millennium Management

Millennium Management, which is managing $276 billion of assets, has been employing hundreds of teams to pick the right investment opportunities. The firm invests about two-thirds of its capital in value fundamental equities and statistical arbitrage strategies. Izzy Englander’s Millennium Management has generated one of the best profits in 2020. Its multi-strategy hedge fund rose more than 23% through Dec. 17.

Last year, Millennium hired a Paris-based quant team led by Maxime Kahn to enhance returns from quant strategies. In addition, the firm has also added other big names like former Nomura and Barclay’s quant trader Derrick Li and former Hutchin Hill founder Neil Chriss to its quant roster.

Put positions in Apple is its largest holding while its total 13F portfolio market value stood at $81 billion at the end of the September quarter. Millennium’s largest plain vanilla stock position was Tesla Inc (TSLA) at the end of September. Tesla shares gained earlier this month after Wedbush analyst Dan Ives increased its bullish scenario price target to $1250. Here is what we said about it in an article:

Wedbush’s new base price target for Tesla stock is $950, which is more than $100 higher than where the shares are currently trading. However, Ives still rates them at Neutral, which is the rating he has had on them for almost two years, according to MarketWatch.

Ives believes the core of the bull thesis for Tesla stock is China, where consumer demand for electric vehicles has skyrocketed over the last year. Chinese consumers are snapping up not only Tesla’s Model 3 but also EVs from “impressive” domestic firms like Nio, Xpeng and Li Auto. Ives added that even though competition is on the rise, Tesla is still on “top of the EV mountain.”

We believe Tesla is a binary outcome stock at its current price. It will either be a very big long-term loser or it will go up another 500% over the next 5 years. We shared Chamath Palihapitiya’s recent TSLA views in this article.

Please also see Billionaire John Paulson’s Top 10 Stock Picks and Billionaire Louis Bacon Shuns Bitcoin, Returns 70% By Betting On These Stocks.

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