Israel Englander’s Millennium Goes All-In On Crypto And Healthcare While Rebalancing Big Tech Bets: Bitcoin ETF And Palantir Stakes Soar In Q2 – iShares Bitcoin Trust (NASDAQ:IBIT), Palantir Technologies (NASDAQ:PLTR)

Millennium Management LLC, led by billionaire Israel Englander, made bold moves in its portfolio according to its second-quarter 13F filings, significantly boosting exposure to cryptocurrency and healthcare while strategically rebalancing its big tech holdings.

Millennium Bets On Cybersecurity And Bitcoin

The hedge fund’s aggressive portfolio adjustments signal confidence in digital assets and medical innovation, alongside a nuanced approach to tech giants amid market volatility.

The fund’s cryptocurrency bet stands out, with a 22% increase in its iShares Bitcoin Trust ETF IBIT position, growing from $823 million to $1.31 billion in value.

Even more striking is the 282% surge in Palantir Technologies Inc. PLTR, with its stake rising from $110 million to $682 million, reflecting optimism in blockchain and data analytics. These moves suggest Millennium is positioning for a bullish crypto market, capitalizing on renewed investor interest in digital assets.

The fund value increased from $187.880 billion in the first quarter to $207.076 billion in the second quarter as it increased the number of its holdings from 5,787 to 5,805.

See Also: Dan Loeb’s Third Point Bets Big On AI, Tech With $442 Million Nvidia Stake—Exits Energy, Steel In Q2 Portfolio Overhaul

Significant New Bets In Healthcare And Biotech

In healthcare, Millennium ramped up its investments in innovative companies. Edwards Lifesciences saw a 94% increase from 3.444 million shares to 6.682 million shares quarter-on-quarter, with its value climbing from $249 million to $522 million.

While Intuitive Surgical Inc. ISRG stake grew 24% to $536 million in value. The most dramatic healthcare bet was on Insmed, where the fund’s stake soared 212% to a value of $213 million, indicating strong confidence in biotech and medical technology advancements.

Tech Sector Rebalancing With Selective Increases

Meanwhile, Millennium rebalanced its tech portfolio, trimming exposure to Alphabet Class A shares by 33% in put options and slashing Meta Platforms’ direct holdings by 62%.

However, it boosted Microsoft call options by 54%, reaching $1.73 billion in value, and increased Oracle Corp. ORCL direct holdings by 119% to $432 million in value, favoring enterprise software over social media and advertising-driven tech.

Other Key Changes In Q2

The fund also made significant moves in other sectors, notably financials, with a 72% increase in Bank of America Corp. BAC put options to $632 million and a 667% jump in Citigroup Inc. C call options to a value of $422 million. These shifts suggest a strategic pivot toward sectors poised for resilience or growth.

Price Action

The SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF QQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, rose on Tuesday. The SPY was up 0.42% at $645.16, while the QQQ also advanced 0.40% to $572.61, according to Benzinga Pro data.

On Wednesday, the futures of the S&P 500, Dow Jones, and Nasdaq 100 indices were trading slightly higher.

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