Michael Platt and William Reeves founded BlueCrest Capital Management together. These two men built a formidable investment firm from scratch in the year 2000, and they continue to do so to this day. Before it became a family office, the couple was managing close to $35 billion in assets. On Wall Street, BlueCrest Capital Management is one of the best-performing investment funds. Trading profits amounted to $22 billion for the fund between 2000 and 2015. BlueCrest has invested heavily in high-risk stocks like Tesla, McAfee, and Danaher.
Insider Monkey highlights billionaire Michael Platt’s stunning performance in 2021 and his top 10 stock picks. As a provider of mortgage banking and investment management services, PennyMac Financial Services, Inc. In the second quarter of 2021, Platt invested in the company, purchasing over 318,000 shares at an average share price of $60.76. At the end of the third quarter of 2021, 19 hedge funds in Insider Monkey’s database had stakes in Essential Utilities, Inc. worth $435 million. This is an increase from the previous quarter’s 13 deals worth $272 million. Approximately 0.16% of Altria Group, Inc. was owned by BlueCrest Capital Management at the end of September for a total market capitalization of $6 million. Insider Monkey’s database shows that 45 hedge funds have Altria stakes worth $829 million. Natural gas and electric utility company NiSource Inc. Over the past few months, a number of large hedge funds have been investing in the stock. One of the largest shareholders, Citadel Investment Group, owns more than $128 million worth of stock totaling 5.3 million shares. One of CME Group Inc.’s subsidiaries is a derivative market operator. The stock has long been a favorite of Platt’s. In the third quarter of 2021, 64 hedge funds in Insider Monkey’s database held stakes totaling $2.68 billion, according to the data. For more details, click the Billionaire Michael Platt’s Stunning Performance In 2021 And His Top 10 Stock Picks.