Five Noteworthy Moves by Billionaire Israel Englander’s Millennium Management

#3 PepsiCo, Inc. (NYSE:PEP)

– Number of shares owned by Millennium Management as of March 31: 2.33 Million

– Value of Millennium Management’s stake as of March 31: $239.4 Million

After Millennium more than tripled its exposure, PepsiCo, Inc. (NYSE:PEP) ascended to the seventh spot in its list of picks for the second quarter. Other funds betting big on PepsiCo included Donald Yacktman’s Yacktman Asset Management, with 13.4 million shares, and Boykin Curry’s Eagle Capital Management, with 8.3 million shares, valued at more than $850 million on March 31. However, since April 1, PepsiCo’s stock has tumbled over 1.8%. The most recent decline seen in the share price was driven by news of Nelson Peltz’s Trian Partners having sold all of its 18.32 million shares of the company over the first quarter, and anxiety regarding the upcoming vote of a proposed sugary drink tax in Philadelphia.

#2 PG&E Corporation (NYSE:PCG)

– Number of shares owned by Millennium Management as of March 31: 5.39 Million

– Value of Millennium Management’s stake as of March 31: $322.1 Million

Over the fourth quarter of 2015, Millennium Management quadrupled its exposure to PG&E Corporation (NYSE:PCG), and further boosted its stake by another 41%, keeping its post as the largest hedge fund shareholder of record, trailed by AQR Capital Management, which declared holding 3.2 million shares and Jim Simons’ Renaissance Technologies, which increased its stake by 285% to 1.68 million shares during the first quarter. Since the beginning of 2016, the stock has advanced by over 12%. PG&E Corporation recently has announced a new annual cash dividend of $1.96 per share of common stock, up 7.7% from the previous $1.82 per share. In addition, the company said it had adopted a new target dividend payout ratio of 55% to 65%, aiming at reaching a payout ratio of roughly 60% by 2019.

#1 Yahoo! Inc. (NASDAQ:YHOO)

– Number of shares owned by Millennium Management as of March 31: 9.73 Million

– Value of Millennium Management’s stake as of March 31: $358.2 Million

Finally, there’s Yahoo! Inc. (NASDAQ:YHOO), which, after a 29% increase in Millennium’s stake, escalated 10 spots and ranked as the second-largest position in terms of value. This stake made Mr. Englander the fifth largest shareholder of Yahoo! in our database, behind Jeffrey Altman’s Owl Creek Asset Management, which last disclosed ownership of more than 15 million shares, and Jeffrey Smith’s Starboard Value LP, which held 12.29 million shares at the end of March. While volatile, shares of Yahoo! Inc. (NASDAQ:YHOO) have gained over 3% since the beginning of April. Just a few weeks ahead of the next round of bids for the core assets of the tech giant, The Wall Street Journal reported that offers are expected to come in between $2 billion and $3 billion, instead of the anticipated $4 billion to $8 billion.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above