Israel Englander'sMillennium Managementhas made sweeping adjustments to its portfolio, including a remarkable 91,046.15% increase inAlibaba Group Holding Ltd.(NYSE:BABA) call options and a 94.69% increase inBroadcom Inc.(NASDAQ:AVGO) direct holdings, according to its third quarter 13F filings with the Securities and Exchange Commission.
What Happened: The $69 billion hedge increased Alibaba call options from 5,200 contracts in the second quarter to 4.74 million contracts in the third quarter. Similarly, it raised its put options in Alibaba by 281.79%, from 1.49 million to 5.71 million contracts, while scaling back its direct shareholding in the company by 21.97%, from 2.08 million shares to 1.62 million shares.
Millennium...