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Billionaire Israel Englander Is Betting Big on These 5 Stocks

  • Millennium Management's Israel Englander has purchased several new stocks this month.
  • These include Franklin BSP Realty Trust (FBRT) and VAALCO Energy (EGY).
  • The hedge fund's top positions are puts on QQQ and SPY.
Israel Englander - Billionaire Israel Englander Is Betting Big on These 5 Stocks

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Since June 15, Millennium Management’s Israel Englander has purchased stock in five companies. These companies are Franklin BSP Realty Trust (NYSE:FBRT), VAALCO Energy (NYSE:EGY), BioLife Solutions (NASDAQ:BLFS), Tactile Systems Technology (NASDAQ:TCMD) and Kezar Life Sciences (NASDAQ:KZR).

Englander ranks at no. 167 on Forbes’ Billionaire List, with an estimated net worth of $11.5 billion. The esteemed hedge fund manager founded Millennium in 1989 with $35 million in initial capital. Today, the multi-strategy fund is one of the largest alternative asset management firms in the world.

As of Q1, WhaleWisdom reports that the fund manages just under $341 billion in assets under management. Of the $341 billion, $188 billion is attributed to managed 13F securities.

Millennium has an average holding period of 11.33 quarters, or just under three years, for stocks in its portfolio. In addition, it has a top 10 holdings concentration of 23.87%. This is relatively concentrated if you consider that the fund owns a total of 6,823 positions.

With that in mind, let’s get into the details of Englander’s purchases.

Israel Englander Purchases 5 Stocks

On June 15, Millennium purchased 700,966 shares of FBRT stock, increasing its existing position by 1,567%. The firm now owns 0.9% of all shares outstanding. The company operates as a real estate investment trust (REIT) and manages a portfolio of commercial real estate debt investments.

The next day, the hedge fund purchased 599,637 shares of VAALCO Energy, increasing its existing position by 89%. After the purchase, Millennium owns a 2.2% stake in the company. The energy company operates in the crude oil industry, primarily in Africa. Meanwhile, the price for a barrel of crude oil has surged this year, up to $108. That’s compared to $76 at the start of the year.

On the same day, the fund purchased 1.09 million shares of BioLife Solutions, doubling its existing position. After the purchase, the fund now owns a 5.1% stake. BioLife classifies itself as a leading provider of bioproduction tools to biopharma markets. Still, shares of BLFS stock are down more than 50% year-to-date.

On June 17, Millennium purchased 1.08 million shares of TCMD, increasing its existing position by 586%. The fund now owns a 6.4% stake in the company. Tactile Systems is a healthcare company that seeks to provide at-home treatment to patients with lymphedema and chronic venous insufficiency.

Finally, Englander’s fund purchased 2.1 million shares of Kezar Life Sciences on June 17, increasing its existing position by 228%. Millennium now owns a 5% stake. Kezar Life Sciences uses protein-targeting solutions to treat chronic diseases.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.


Article printed from InvestorPlace Media, https://investorplace.com/2022/06/billionaire-israel-englander-is-betting-big-on-these-5-stocks/.

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