In this article, we discuss the 5 stocks that Israel Englander is buying. If you want to read our detailed analysis of Englander’s hedge fund and recent developments, go directly to read Billionaire Israel Englander is Buying These 10 Stocks.
5. JPMorgan Chase & Co. (NYSE:JPM)
Number of Hedge Fund Holders: 101
Millennium Management’s Stake Value: $246,173,000
Though JPMorgan Chase & Co. (NYSE:JPM) underperformed in 2021 relative to its peers, analysts present a positive outlook on the bank’s performance in the coming quarters. Recently, UBS initiated its coverage on the stock with a Buy rating and a $210 price target.
In Q3 2021, Millennium Management increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 233%, which now accounted for 0.14% of Israel Englander’s portfolio. In its third-quarter results, JPMorgan Chase & Co. (NYSE:JPM) reported revenue of $29.6 billion, up 2% from the prior-year quarter. Since the start of 2021, the stock has delivered a 24.1% return to shareholders, as of the close of December 20.
Of the 867 hedge funds tracked by Insider Monkey, 101 hedge funds were bullish on JPMorgan Chase & Co. (NYSE:JPM) in Q3, down from 108 in the preceding quarter. These stakes are valued at over $5.6 billion. Fisher Asset Management was the company’s leading shareholder in Q3, owning shares worth $1.1 billion.
Vltava Fund mentioned JPMorgan Chase & Co. (NYSE:JPM) in its Q3 2021 investor letter. Here is what the firm has to say:
“While all the previous names could be categorised as founder, continuing, or key shareholders, these last two names fall into the category of hired professional managers. This is actually the most numerous category among the bosses of large companies, but even among them there exist a number of individuals with exceptional long-term track records. In our view, these include also Jamie Dimon and Herman Gref.
We consider JP Morgan to be the strongest, largest, and most profitable bank in the world. It has not always been so, and the fact that it is what it is today can be attributed especially to its CEO Jamie Dimon. Dimon has spent his entire career in banking. He came to JP Morgan in a roundabout way in 2004 after the bank bought Bank One, of which he was CEO at the time. Since early 2006, Dimon has been CEO of the entire JP Morgan.
The quality and strength of JP Morgan under his leadership became fully apparent for the first time in 2008. Not only did JP Morgan help to stabilise the market by taking over the failing Bear Stearns in the spring of that year, but it was the only major US bank that did not require government assistance throughout the Great Financial Crisis and that was highly profitable even in the difficult year of 2008. Today, JP Morgan is even bigger, even more profitable, and even stronger than ever before. Many investors view banks with disdain, but a good bank with good management can be a very good long-term investment. From the time of its merger with Bank One in 2004 through the end of 2020, JP Morgan’s stock has outperformed even the S&P 500 index. The bank has earned a total net profit of USD 330 billion during this period, of which USD 232 billion has been paid out to shareholders in dividends and in share buybacks. I can recommend two books about Jamie Dimon: The House of Dimon and Last Man Standing.”
4. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders: 56
Millennium Management’s Stake Value: $253,964,000
Oracle Corporation (NYSE:ORCL) is one of the leading computer technology companies in the world. In fiscal Q2, the company’s cloud revenue jumped 22% year-over-year at $2.7 billion, which, according to the management, will reach $11 billion in annualized revenue.
Millennium Management increased its stake in Oracle Corporation (NYSE:ORCL) by 241% in Q3. The company currently accounts for 0.15% of Israel Englander’s portfolio. Since the start of 2021, the stock is up 43.5%, as of the close of December 20. Recently, Cowen raised its price target on Oracle Corporation (NYSE:ORCL) to $115, while keeping an Outperform rating on the shares.
As of Q3 2021, 56 hedge funds tracked by Insider Monkey reported owning stakes in Oracle Corporation (NYSE:ORCL), up from 55 in the previous quarter. These stakes hold a consolidated value of $3.47 billion.
Saturna Capital mentioned Oracle Corporation (NYSE:ORCL) in its Q3 2021 investor letter. Here is what the firm has to say:
“Technology companies provided the greatest contribution to Fund returns. The contribution was generated over July and August, as each of the companies declined in value in September. Oracle couldn’t buck the September sell-off, but it was more resilient, shedding just over 1%, which likely has much to do with its modest valuation.”
3. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 250
Millennium Management’s Stake Value: $505,030,000
Israel Englander’s Millennium Management started investing in Microsoft Corporation (NASDAQ:MSFT) during the fourth quarter of 2010. In Q3 2021, the hedge fund increased its stake in the company by 128%, and now holds shares worth over $505 million.
Recently, Morgan Stanley appreciated the leading position of Microsoft Corporation (NASDAQ:MSFT) in data management, as the sector contributed about 12% of the company’s total revenue in the first half of 2021. The firm lifted its price target on the stock to $364, with an Overweight rating on the shares. In its fiscal Q1 2022 results, Microsoft Corporation (NASDAQ:MSFT) posted an EPS of $2.27, which beat estimates by $0.19.
At the end of Q3 2021, 250 hedge funds tracked by Insider Monkey reported owning stakes in Microsoft Corporation (NASDAQ:MSFT), up from 238 in the previous quarter. These stakes hold a consolidated value of $65.8 billion.
Baron Funds mentioned Microsoft Corporation (NASDAQ:MSFT) in its Q3 2021 investor letter. Here is what the firm has to say:
“Shares of Microsoft Corporation, a cloud-software leader and provider of software productivity tools and infrastructure, rose during the quarter following a strong earnings report highlighting solid demand for its broad product stack and continued momentum migrating its business to the cloud. Microsoft’s results continued to be strong across the board, with total revenue beating Street estimates by 4.5%, an acceleration in Commercial Cloud revenue to 31% constant-currency growth, a four-point improvement in Commercial Cloud gross margins (to 70% from 66%), and GAAP earnings up 42%. We believe the company is positioned to deliver 13% to 15% organic growth over the next three years, underpinned by TAM expansion across its disruptive cloud product portfolio, as more companies look to transform and digitize their businesses, as well as strong operating leverage as its cloud products gain scale.”
2. Meta Platforms, Inc. (NASDAQ:FB)
Number of Hedge Fund Holders: 248
Millennium Management’s Stake Value: $936,649,000
Recently, Morgan Stanley listed Meta Platforms, Inc. (NASDAQ:FB) as one of the companies that could benefit from the advertisement segment in 2022. The stock is up 21.01% for 2021, as of the close of December 20.
As per Insider Monkey’s Q3 data, 248 hedge funds held stakes in Meta Platforms, Inc. (NASDAQ:FB), down from 266 in the previous quarter. The total value of these stakes is over $38.5 billion.
In Q3, Millennium Management increased its position in Meta Platforms, Inc. (NASDAQ:FB) by 103%. The hedge fund now holds more than 2.7 million shares in the company, valued at $936.6 million. Meta Platforms, Inc. (NASDAQ:FB) represented 0.56% of Israel Englander’s portfolio. Recently, UBS assumed its coverage on the stock with a Buy rating and a $425 price target.
Canterbury Tollgate mentioned Meta Platforms, Inc. (NASDAQ:FB) in its recently published Q3 2021 investor letter. Here is what the firm has to say:
“To say traditional media is anti-Facebook would not be an overstatement. An already intense and multi-year critique of (or attack on) Facebook has ratcheted up in recent weeks. Facebook’s research efforts have been reported on, if often derided, for nearly a decade. Going back to 2014, Slate.com called their research practices “unethical” when FB tried to study the impact social posts had on users. Now those efforts have been turned against them for the kill shot.
My job is to observe, assess, and allocate. Not to commentate on all the whims and wishes of media narrative. However, in the case of Facebook I cannot avoid going into some detail re: the onslaught against them, which I find to be most unwarranted and insincere.
Last month the Wall Street Journal ran a five-piece series titled “The Facebook Files” which allegedly shows how toxic Instagram is for teens. The foundation of their argument was a single slide from an internal presentation claiming, based on FB’s own research, that of teens who had a negative self-image, one-third said Instagram “made them feel worse.”iii Somehow the implication here is that this is not an inescapable aspect of either the human psyche and/or society-atlarge, but that it is of Facebook’s doing…” (Click here to see the full text)
1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 83
Millennium Management’s Stake Value: $1,082,000
NVIDIA Corporation (NASDAQ:NVDA) is an American leading tech company that manufactures products for gaming and professional markets. In Q3, the company’s gaming revenue grew by 42% from a year ago at $3.22 billion, while its data-center sales rose 55% to $2.94 billion.
In Q3 2021, Millennium Management increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 226%, and now holds shares worth over $1.08 billion. The company accounted for 0.64% of Israel Englander’s portfolio. Appreciating the company’s strong data center and gaming revenue, recently, Tigress Financial lifted its price target on NVIDIA Corporation (NASDAQ:NVDA) to $400, with a Buy rating on the shares.
As of Q3 2021, 83 hedge funds tracked by Insider Monkey were bullish on NVIDIA Corporation (NASDAQ:NVDA), compared with 86 in the previous quarter. These stakes hold a consolidated value of over $10 billion, up from $9.09 billion in Q2. GQG Partners was the company’s largest shareholder in Q3, owning a stake worth $3.1 billion.
Harding Loevner mentioned NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2021 investor letter. Here is what the firm has to say:
“The proliferation of devices using chips, whether EVs, “things” in lol, or embedded systems more generally, results in the generation of oceans of data potentially needing to be stored, processed, and analyzed. NVIDIA, the leading chip designer wellknown for its graphic processing units and its complementary CUDA software ecosystem, is at the forefront of the effort to provide the analytical platform needed to unlock the full potential of such specialist processors.”
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