Billionaire Investor Izzy Englander’s Surprising Moves in the Tech Sector
Diverging Strategies
When it comes to investing, no two billionaires think alike. Warren Buffett, for instance, has been accumulating cash reserves for Berkshire Hathaway, while Israel “Izzy” Englander, manager of Millennium Management hedge fund, has been actively buying and selling stocks.
A Closer Look at Englander’s Trades
In the third quarter of 2024, Englander made significant changes to Millennium’s portfolio. He drastically reduced the fund’s stake in Apple, selling 90.4% of its shares, while still maintaining a position worth around $285 million. This move may have been influenced by the launch of Apple’s new generative AI functionality, prompting Englander to “buy the rumor, sell the news.”
Tech Giants: Buying and Selling
Englander also made notable trades involving other tech giants. He sold 86.9% of Millennium’s stake in Amazon, a surprising move given the company’s recent improvement in profitability and free cash flow. Meanwhile, he reduced the fund’s position in Nvidia by 12.6%, possibly taking profits off the table or reacting to reported delays in new GPU shipments.
Microsoft, Meta, and Alphabet: Englander’s Favorites
On the other hand, Englander increased Millennium’s stake in Microsoft by 51.4%, making it the fund’s third-largest holding. He also added modestly to the fund’s position in Meta Platforms, with a 7.6% increase. Furthermore, Englander made intriguing trades involving Alphabet, selling 19% of Millennium’s position in Class C shares while increasing its stake in Class A shares by 6.8%.
Tesla: A Promising Investment
Englander also bought shares of Tesla, increasing Millennium’s stake by 51.3%. This move may be driven by the potential benefits of artificial intelligence and regulatory changes related to self-driving vehicles.
Following Englander’s Lead
There are strong arguments to follow Englander’s footsteps with Microsoft, Meta, Alphabet, and Tesla. Artificial intelligence should continue to drive growth for these companies, and potential regulatory changes could further boost their prospects.
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