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The Motley Fool

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Billionaire Israel Englander Sold 59% of Millennium's Stake in Palantir and Has Opted to Pile Into a Stock Consumers Absolutely Adore

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Billionaire investor Israel Englander of Millennium Management dumped more than half of his stake in artificial intelligence stock Palantir Technologies .

Englander and his team run a very active hedge fund, with thousands of positions and close to $216 billion in AUM , as of the midpoint of 2024 .

He purchased 5,444,678 shares of Coca-Cola by the fund's brightest minds, including 347% of the beverage leader in a three-month period.

Coca-Cola is the world's top brand among consumers.

It has more than two dozen brands generating at least $1 billion in annual sales.

The company has operations in all but three countries around the globe ( North Korea , Cuba , and Russia ) This leads to steady cash flow in developed markets and organic growth in emerging markets.

While the company's board does, occasionally, authorize share buybacks, it's the dividend that does the talking.

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