Millennium Management LLC is a private hedge fund managed by Israel Englander with 13F portfolio of $31.6 billion at the end of second quarter. Millennium Management LLC filed 13F for the second quarter of 2014 and according to the SEC filing, the firm decreased its stake in the top three holdings including PPL Corporation (NYSE:PPL), American Electric Power Company Inc (NYSE:AEP), and Devon Energy Corp (NYSE:DVN). Some of the major increase in investments include an increase of 186% in Exelon Crop (NYSE:EXC), 159% Anadarco Petroleum Corp (NYSE:APC), and 4934% Apple Inc (NASDAQ:AAPL). (See Israel Englander entire portfolio)
Among the top holdings of Millennium Management LLC comes PPL Corporation (NYSE:PPL) with 9,530,794 shares worth $338 million. Although the firm lowered its stakes in PPL Corporation (NYSE:PPL) by 27% but it is still the largest investment comprising 0.93% of Millennium Management’s overall portfolio. PPL Corporation (NYSE:PPL) reported net earnings of $229 million for the second quarter 2014 or $0.34 EPS. Hedge funds with maximum investment in PPL Corporation (NYSE:PPL) include Adage Capital Management ($227 million), and Luminus Management ($86 million?).
American Electric Power Company Inc (NYSE:AEP) is the second largest holding in Millennium Management’s portfolio with 5,372,250 shares worth $299 million. American Electric Power Company Inc (NYSE:AEP) reported revenue of $4.0 billion for the second quarter with earnings per share of $0.80. Top three hedge funds investing in American Electric Power Company Inc (NYSE:AEP) include Aqr Capital Management ($84 million), and Arrowstreet Capital ($76 million).
Devon Energy Corp (NYSE:DVN) comes at number three in terms of value of investments made by Millennium Management LLC with 3,542,338 shares worth $281 million. Devon Energy Corp (NYSE:DVN) achieved earnings of $1.65 per share for the second quarter 2014 with 47% increase in its operating cash flow year-over-year. Some of the major hedge funds investing in Devon Energy Corp (NYSE:DVN) include First Eagle Investment Management ($637 million), Diamond Hill Capital ($340 million), and International Value Advisers ($310 million).
This article has been written by Prakash Pandey and edited by Serkan Unal.