Billionaire Investor Abruptly Dumps $20,000,000,000 Portfolio, Pours Cash Into Four Assets: Report

The head of a $210 billion asset management firm has decided to unload a massive pile of assets.

Billionaire Israel “Izzy” Englander, CEO of Millennium Management, has sold off 68% of the firm’s Walmart (WMRT) position – 8.1 million shares worth about $745 million – according to its latest filings with the U.S. Securities and Exchange Commission (SEC).

According to data compiled by TickerTracker, Millennium has also significantly decreased its holdings of bluechip stocks Apple (AAPL), Nvidia (NVDA) and Amazon (AMZN).

In total, the shares sold by Millennium Management in Q3 amount to more than $20 billion.

Meanwhile, Englander has reportedly increased the firm’s exposure to BlackRock’s iShares Bitcoin Trust (IBTC) as well as Microsoft (MSFT) and Spotify (SPOT).

Englander is also shifting his focus in the electric vehicle (EV) industry, selling 95% of the firm’s shares in Rivian (RIVN) to get into the electric air flying taxi company Archer Aviation (ACHR), a favorite of ARK Invest’s Cathie Wood.

Englander acquired 3,247,428 shares of the company, while Wood has been accumulating ACHR since August of 2023.

ACHR is down 53% from its all-time high of $18.49 but up over 204% in the last month alone.

Millenium Management has recorded 162% gains over the last four years.

Other billionaire portfolio shakeups reported recently include Bill Ackman’s recent accumulation of asset manager Brookfield Corporation and apparel giant Nike, and Ken Fisher’s $800,000,000 bet on the US banking industry with his purchase of JPMorgan Chase (JPM).

 

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