The top ten stocks selected by Billionaire Izzy Englander’s Millennium Management at the end of the second quarter are covered in this article. If you’re just interested in learning about this fund’s top five stock recommendations, please visit Billionaire Izzy Englander’s Latest Portfolio: Top 5 Stock Picks.
Israel “Izzy” Englander, who is based in New York, is the Chairman, Chief Executive Officer, and Co-Chief Investment Officer of one of the world’s biggest hedge funds, Millennium Management. Israel Englander received his undergraduate degree from New York University. Later, he enrolled there for an MBA program, but left early to trade on AMEX. Izzy worked as a floor broker, trader, and expert on the American Stock Exchange before establishing Millennium in 1989. He was a member of the American Stock Exchange’s Allocations, Allocation Procedures, Emerging Company Marketplace, Options, and Special Allocations committees while also serving as the chairman of the Specialist Association. At Millennium, Izzy expanded the business to manage about $13 billion in assets by the middle of 2011. Outperforming several of its competitors, Millennium returned 13% in 2010 and was up around 6% in 2011. This international alternative investment management company now oversees more than $56 billion in assets.
Millennium Management owns stakes in several well-known companies as of the end of the second quarter of 2022, such as Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT).
Israel Englander of Millennium Management
Our Methodology
Insider Monkey’s research shows that the consensus stock picks of the top hedge funds can produce returns that beat the broader market’s performance by a wide margin, which is why we actively track the portfolios of 895 hedge funds. The stocks discussed in this article were selected from Millennium Management’s latest 13F filing for the quarter ending June 30.
Billionaire Izzy Englander’s Latest Portfolio: Top 10 Stock Picks
10. iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF)
Millennium Management’s Stake Value: $ 301.274million
Millennium Management’s 13F Portfolio: 0.18%
Number of Hedge Fund Holders as of Q2 2022: 502
Our list of top ten stock picks of billionaire Izzy Englander starts with an Exchange-Traded Fund. Although Millennium Management reduced its stake by 37% in the second quarter to 7.51 million shares, IEF’s hedge fund ownership peaked during Q2, 2022, with 502 funds holding a stake in it. iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF)’s largest shareholder in our database is Ken Fisher’s Fisher Asset Management. It owns 15.6 million shares of IEF worth roughly $1.7 billion. IEF targets mid-cap U.S. treasury bonds and tracks the ICE US Treasury 7-10 Year Index. iShares 7-10 Year Treasury Bond ETF holds 12 bonds in its basket with weighted maturity of 8.53 years and an effective duration of 7.89 years.
09. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Millennium Management’s Stake Value: $313.401 million
Millennium Management’s 13F Portfolio: 0.19%
Number of Hedge Fund Holders as of Q2 2022: 87
Advanced Micro Devices, Inc. (NASDAQ:AMD) rose to popularity among the hedge funds tracked by Insider Monkey during the recent quarter, with 87 hedge funds holding a stake in AMD in Q2. Millennium Management upped its stake in AMD by 40% during Q2.
In a challenging environment, Advanced Micro Devices, Inc. (NASDAQ:AMD) is providing surprisingly reliable performance. Importantly, Advanced Micro Devices, Inc. (NASDAQ:AMD) is quickly overtaking Intel in market share and outperforming its biggest rival. Based on current expectations, Advanced Micro Devices, Inc. (NASDAQ:AMD) is very affordably priced, and the business has an outstanding track record of significantly beating market expectations. Geopolitical unrest and economic uncertainty may have a short-term negative impact on the sector. However, AMD is positioned to outperform the market in the long run. The company posted strong Q2 results with an actual EPS of $1.05, beating estimates by $0.01, and actual revenue of $6.55 billion, beating estimates by $20.78 million. The stock has recovered remarkably from its July lows, posting a 14.80% gain in the past month.
Just like Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT), Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the best stocks to buy, according to Izzy Englander’s Millennium Management.
08. Amazon.com, Inc. (NASDAQ:AMZN)
Millennium Management’s Stake Value: $319.576 million
Millennium Management’s 13F Portfolio: 0.19%
Number of Hedge Fund Holders as of Q2 2022: 252
Millennium Management’s trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 19% during the second quarter, holding 3.008 million shares valuing $320 million, representing 0.19% of the total portfolio. For Q2 2022, Amazon.com, Inc. (NASDAQ:AMZN) had EPS valued at -$0.20, missing estimates by $0.32, and actual revenue valued at $121.23 billion, beating estimates by $2.09 billion.
In its Q2 2022 investor letter, ClearBridge Large Cap Growth ESG Strategy mentioned Amazon.com, Inc. (NASDAQ:AMZN) and explained its insights for the company. Here is what the fund said:
“Amazon.com (NASDAQ:AMZN) was a primary detractor due to a disappointing outlook for profitability in its retail business. Following a surge of e-commerce demand in 2020 and 2021, the company has now overbuilt fulfillment infrastructure as e-commerce demand has moderated. While we believe current profitability levels are suboptimal, Amazon.com is working rapidly to rectify overcapacity issues and we believe the retail business has a robust long-term profitability outlook. We also believe Amazon is well-positioned to emerge stronger from this difficult operating environment of higher costs. There is a visible path to margin expansion driven by a positive mix shift as the more profitable businesses of third-party sellers, cloud, and advertising become the largest contributors.”
07. Boston Scientific Corporation (NYSE:BSX)
Millennium Management’s Stake Value: $330.655 million
Millennium Management’s 13F Portfolio: 0.2%
Number of Hedge Fund Holders as of Q2 2022: 56
Millennium Management upped its stake in BSX by 129% during Q2. On August 15, Obsidio, which created the Gel Embolic Material technology used to embolize blood arteries in the peripheral vasculature, was acquired by Boston Scientific Corporation (NYSE:BSX). It expects the deal to have no impact on its GAAP and adjusted earnings per share in 2022. There has been no disclosure of the transaction’s precise details.
In addition to Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT), Izzy Englander remains bullish on Boston Scientific Corporation (NYSE:BSX).
06. Meta Platforms, Inc. (NASDAQ:FB)
Millennium Management’s Stake Value: $331.201 million
Millennium Management’s 13F Portfolio: 0.2%
Number of Hedge Fund Holders as of Q2 2022: 184
With an increase in its stake by 57% in Q2, Millennium Management is bullish on Meta Platforms, Inc. (NASDAQ:FB).
Morgan Stanley analyst Brian Nowak, however, holds a different viewpoint. The analyst has decreased the Meta Platforms, Inc. (NASDAQ:FB) price target from $280 to $225 while maintaining an Overweight rating for the stock. According to a research note by Nowak, declining total engagement and an increase in the use of lower-profitable Reels are causing greater revenue difficulties. The analyst believes that even if Meta Platforms, Inc. (NASDAQ:FB) faces execution uncertainty, the price at the moment more than adequately reflects it.
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Disclosure. None. Billionaire Izzy Englander’s Latest Portfolio: Top 10 Stock Picks is originally published on Insider Monkey.
