In this piece, we will take a look at the ten finance and investment stocks to buy today according to Israel Englander’s Millennium Management. If you want to jump ahead to the top five stocks in this list then head on to 5 Finance and Investment Stocks to Buy Today According to Israel Englander’s Millennium Management.
Millennium Management was founded by Mr. Israel Englander in 1989, and has led to the executive becoming one of the richest people in the world.
The executive, who is currently serving as the firm’s chief investment officer, started his journey in the financial world in the 1970s. Mr. Englander was born in the U.S. in 1948, only a year after his parents had migrated to the country. His family was one of the many to have faced unendurable hardships during the second world war. Both of Mr. Englander’s parents have spent time in a labor camp run by the former Soviet Union and both of his older sisters were born during this time.
He is one of the many hedge fund executives that took an early interest in the stock market. This also influenced his choice of undergraduate study, with the executive graduating from the New York University with a bachelor’s degree in Finance in 1970. During his time at NYU, he would mark his entry into the finance industry by working as an intern at the firm Oppenheimer. After graduating, he took up a job with another Wall Street firm.
Millennium Management was not the first time the now billionaire hedge fund executive tried his hand at setting up a hedge fund. His first attempt came in 1985, four years before Millennium would open its doors. This firm was dubbed Jamie Securities, after Mr. Englander’s business partner. After the partner came into legal trouble, the firm closed down shop in 1988.
Mr. Englander set up Millennium Management a year later in 1989 along with another business partner. The firm was set up with $35 million in capital, the bulk of which came from outside sources. The investment firm primarily engages in four investment strategies. These are investing with fundamentals in mind, arbitrage, fixed income portfolio investments, and quantitative analysis. Mr. Englander continues to run the firm to date, and he is both its chief executive officer and chief investment officer. The firm has more than a hundred teams each with its own portfolio manager, and it prides itself on this diverse structure.
Israel Englander of Millennium Management
Our Methodology
In order to decipher the inner workings of Mr. Englander’s mind, we took a look at Millennium Management’s regulatory filings for the fourth quarter of last year. This enabled us to pick out its top ten finance and investment stocks.
10 Finance and Investment Stocks to Buy Today According to Israel Englander’s Millennium Management
10. Bank of America Corporation (NYSE:BAC)
Millennium Management’s Stake Value: $178 million
Percentage of Millennium Management’s 13F Portfolio: 0.09%
Number of Hedge Fund Holders: 84
Bank of America Corporation (NYSE:BAC) is an American bank headquartered in Charlotte, North Carolina, and among one of the oldest in the world after being set up soon after the American revolution in 1784. It offers a host of services such as different kinds of accounts, loans, investment management, brokerage, and others.
Millennium Management owned 4 million Bank of America Corporation (NYSE:BAC) shares as the fourth quarter of last year came to an end. These were worth $178 million and they represented 0.09% of its investment portfolio. During the same time period, 84 of the 924 hedge funds polled by Insider Monkey had also invested in the firm.
Bank of America Corporation (NYSE:BAC) reported $23 billion in revenue and $0.80 in GAAP EPS for its first fiscal quarter, beating analyst estimates for both metrics. Citi kept a $47 price target for the company in April 2022, stating that the company’s ratios were better than peers.
Bank of America Corporation (NYSE:BAC)’s largest investor is Warren Buffett’s Berkshire Hathaway which owns one billion shares that are worth $44 billion.
Morgan Stanley (NYSE:MS), JPMorgan Chase & Co. (NYSE:JPM), and Visa Inc. (NYSE:V) are met by Bank of America Corporation (NYSE:BAC) in the list of Millennium Management’s favorite stocks.
9. Stifel Financial Corp. (NYSE:SF)
Millennium Management’s Stake Value: $185 million
Percentage of Millennium Management’s 13F Portfolio: 0.09%
Number of Hedge Fund Holders: 23
Stifel Financial Corp. (NYSE:SF) is a financial services and bank holding company. It provides a host of services such as investment banking wealth management, and retail banking services to a large set of customers. The company is headquartered n St. Louis, Missouri, United States.
For its fiscal fourth quarter, Stifel Financial Corp. (NYSE:SF) raked in $1.3 billion in revenue and $2.23 in non-GAAP EPS, for a strong set of results that ended up beating Wall Street estimates for both. JMP Securities raised its price target to $100 from $93 in January 2022, stating that the company is well positioned for growth.
Mr. Englander’s investment firm owned 2.6 million Stifel Financial Corp. (NYSE:SF) shares during Q4 2021 for a $185 million stake that represented 0.09% of its investment portfolio. Insider Monkey scanned 924 hedge fund holdings for the same three month time period and found out that 23 had bought the company’s shares.
Ken Fisher’s Fisher Asset Management is Stifel Financial Corp. (NYSE:SF)’s largest investor after Millennium Management. It owns 1.8 million shares that are worth $130 million.
8. The Carlyle Group Inc. (NASDAQ:CG)
Millennium Management’s Stake Value: $196 million
Percentage of Millennium Management’s 13F Portfolio: 0.09%
Number of Hedge Fund Holders: 33
The Carlyle Group Inc. (NASDAQ:CG) is an investment firm based in Washington, District of Columbia, United States. It has a diverse set of services portfolio and an equally vast list of operating territories. Some of the services that it offers are buyouts, privatizations, financing, and PIPE financings. The territories that it operates in include the U.K., Germany, Denmark, Finland, Qatar, Saudi Arabia, Hungary, Poland, and more.
For its Q4 2021 investment portfolio, Millennium Management held a $196 million stake in The Carlyle Group Inc. (NASDAQ:CG). This came in the form of 3.5 million shares and represented 0.09% of its investment portfolio. Insider Monkey’s hedge fund poll covering 924 funds outlined that 33 also had a stake in the company during the fourth quarter of 2021.
The Carlyle Group Inc. (NASDAQ:CG) reported $2 billion in revenue and $2.01 in non-GAAP EPS for its fourth fiscal quarter, beating analyst estimates for both. Oppenheimer raised its price target to $80 from $71 in April 2022, stating that investing in the company despite some fears can reap benefits for years to come.
The Carlyle Group Inc. (NASDAQ:CG)’s largest investor is Panayotis Takis Sparaggis’s Alkeon Capital Management which owns 8.7 million shares worth $482 million.
Vulcan Value Partners mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:
“Carlyle Group Inc., one of KKR’s peers, also was a material contributor during the quarter. The company has deep and growing relationships with capital providers. Carlyle Group enjoys a very stable management fee stream and a proven ability to convert capital into a performance fee stream, both of which lead to a business with a stable and growing intrinsic value. In addition, the company enjoys nice tailwinds of increasing allocations to private and alternative investments.
7. CubeSmart (NYSE:CUBE)
Millennium Management’s Stake Value: $210 million
Percentage of Millennium Management’s 13F Portfolio: 0.1%
Number of Hedge Fund Holders: 34
CubeSmart (NYSE:CUBE) is a real estate investment trust (REIT) that is headquartered in Malvern, Pennsylvania, United States. It focuses its efforts on acquiring and developing self storage properties in America and the firm has been described as one of the three largest American owners of storage properties.
By the end of its fiscal fourth quarter, CubeSmart (NYSE:CUBE) reported $174 million in revenue and $0.58 in funds from operations (FFO), managing to beat FFO estimates only. JPMorgan raised its price target to $58 from $57 in April 2022, indicating that the strong quarterly results combined with a stronger growth outlook and rising inflation will bode well for the company.
Millennium Management held a stake of $210 million in CubeSmart (NYSE:CUBE) during the fourth quarter of last year. This came through 3.6 million shares and it represented 0.1% of the firm’s investment portfolio. Insider Monkey’s Q4 2021 analysis of 924 hedge funds revealed that 34 had also invested in the firm.
Stuart J. Zimmer’s Zimmer Partners is CubeSmart (NYSE:CUBE)’s largest investor. It owns 4 million shares that are worth $227 million.
6. Intercontinental Exchange, Inc. (NYSE:ICE)
Millennium Management’s Stake Value: $213 million
Percentage of Millennium Management’s 13F Portfolio: 0.1%
Number of Hedge Fund Holders: 56
Intercontinental Exchange, Inc. (NYSE:ICE) is an American company based in Atlanta, Georgia. It operates stock exchanges, clearing houses, and listing venues for different financial instruments in the United States, Israel, Canada, Singapore, and the United Kingdom.
Mr. Englander’s hedge fund owned 1.5 million Intercontinental Exchange, Inc. (NYSE:ICE) shares that were worth $213 million and represented 0.1% of its investment portfolio as the fourth quarter of last year came to an end. Insider Monkey’s 924 hedge fund survey for the same time period revealed that 56 had invested in the fund.
Intercontinental Exchange, Inc. (NYSE:ICE) raked in $2.3 billion in revenue and $1.34 in non-GAAP EPS for its fiscal Q4, beating analyst estimates for both. Deutsche Bank raised its price target to $161 from $155 in April 2022. As part of the decision, the bank pointed out that the future is unclear for the company but fears of a recession might be unwarranted.
Intercontinental Exchange, Inc. (NYSE:ICE)’s largest shareholder is William Von Mueffling’s Cantillon Capital Management which owns 3.8 million shares that are worth $526 million.
Intercontinental Exchange, Inc. (NYSE:ICE) is one of Mr. Englander’s favorite finance and investment stocks, joining the ranks of JPMorgan Chase & Co. (NYSE:JPM), Morgan Stanley (NYSE:MS), and Visa Inc. (NYSE:V).
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Disclosure: None. 10 Finance and Investment Stocks to Buy Today According to Israel Englander’s Millennium Management is originally published on Insider Monkey.
