Israel Englander Millennium Management
Israel “Izzy” Englander is the founder of Millennium Management, one of the world’s largest multi-strategy hedge fund platforms. Millennium allocates capital across hundreds of independent teams rather than a single house view, with rigorous risk controls at the platform level. Englander’s model has been highly influential in the rise of pod-shop multi-manager structures across the industry.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Electric Power
AEP
|
+$119M |
| 2 |
PPL
PPL Corp
PPL
|
+$104M |
| 3 |
CMS Energy
CMS
|
+$101M |
| 4 |
Johnson & Johnson
JNJ
|
+$75M |
| 5 |
Home Depot
HD
|
+$71.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Duke Energy
DUK
|
+$125M |
| 2 |
Ameren
AEE
|
+$85.8M |
| 3 |
TWX
Time Warner Inc
TWX
|
+$76.1M |
| 4 |
Starwood Property Trust
STWD
|
+$72.3M |
| 5 |
DFS
Discover Financial Services
DFS
|
+$69.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 11.48% |
| 2 | Healthcare | 8.5% |
| 3 | Consumer Discretionary | 7.28% |
| 4 | Utilities | 6.71% |
| 5 | Financials | 6.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Stanley Black & Decker
SWK
$15.1B
| $28.2M | 0.09% |
311,787
+124,482
| +66% | +$10.7M |
|
227
NorthWestern Energy
NWE
$4.27B
| $28.2M | 0.09% |
627,622
-204,534
| -25% | -$8.56M |
|
228
Oracle
ORCL
$422B
| $28.1M | 0.09% |
846,367
+363,859
| +75% | +$11.8M |
|
229
Analog Devices
ADI
$182B
| $27.8M | 0.09% |
591,389
+75,476
| +15% | +$3.61M |
|
230
Phillips 66
PSX
$96.9B
| $27.7M | 0.09% |
479,897
-342,535
| -42% | -$19.9M |
|
231
CALL
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $27.6M | 0.09% |
677,500
-3,685,200
| -84% | -$146M |
|
232
Church & Dwight Co
CHD
$23.4B
| $27.6M | 0.09% |
918,798
+693,058
| +307% | +$21.3M |
|
233
TechnipFMC
FTI
$30.4B
| $27.5M | 0.09% |
667,952
+658,006
| +6,616% | +$27.1M |
|
234
Equity Lifestyle Properties
ELS
$12.7B
| $27.4M | 0.09% |
1,602,888
+1,287,548
| +408% | +$24M |
|
235
ConocoPhillips
COP
$162B
| $27.3M | 0.09% |
393,023
-634,770
| -62% | -$42.4M |
|
|
AGN
236
DELISTED
Allergan plc
AGN
| $27.3M | 0.09% |
189,492
+97,026
| +105% | +$12.9M |
|
|
NVE
237
DELISTED
NV ENERGY, INC
NVE
| $27.1M | 0.09% |
1,148,094
+586,445
| +104% | +$13.8M |
|
|
XEC
238
DELISTED
CIMAREX ENERGY CO
XEC
| $27.1M | 0.09% |
280,857
+36,617
| +15% | +$2.97M |
|
|
THOR
239
DELISTED
THORATEC CORPORATION
THOR
| $27.1M | 0.09% |
725,923
+204,096
| +39% | +$7.13M |
|
240
CALL
Range Resources
RRC
$9.59B
| $27M | 0.09% |
356,100
+80,800
| +29% | +$6.31M |
|
|
SWN
241
CALL
DELISTED
Southwestern Energy Company
SWN
| $26.9M | 0.09% |
739,800
+497,600
| +205% | +$18.9M |
|
242
ITT
ITT
$18.6B
| $26.9M | 0.09% |
748,469
+569,082
| +317% | +$19M |
|
|
ROSE
243
DELISTED
ROSETTA RESOURCES INC
ROSE
| $26.8M | 0.09% |
491,273
-3,436
| -0.7% | -$163K |
|
244
Chevron
CVX
$403B
| $26.8M | 0.09% |
220,240
+125,283
| +132% | +$15.4M |
|
|
FL
245
DELISTED
Foot Locker
FL
| $26.8M | 0.09% |
788,368
+719,953
| +1,052% | +$25M |
|
246
Ventas
VTR
$47.7B
| $26.6M | 0.09% |
378,398
+346,046
| +1,070% | +$25.7M |
|
247
IBM
IBM
$222B
| $26.5M | 0.09% |
149,765
-9,721
| -6% | -$1.77M |
|
248
Accenture
ACN
$113B
| $26.4M | 0.09% |
358,835
+255,358
| +247% | +$18.9M |
|
|
CLGX
249
DELISTED
Corelogic, Inc.
CLGX
| $26.4M | 0.09% |
976,564
+559,402
| +134% | +$15M |
|
250
Ryman Hospitality Properties
RHP
$8.86B
| $26.3M | 0.08% |
761,262
+257,965
| +51% | +$9.21M |
|
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Israel Englander's Q3 2013 Portfolio in Review
As of Q3 2013, Israel Englander held 3,899 positions worth $31.1B, down 4.8% from $32.6B the previous quarter. Its ten largest holdings account for 22% of the portfolio.
Israel Englander withdrew a net $3.75B in Q3 2013, closing 642 positions and reducing 1,073 holdings. Its most notable exit was BMC SOFTWARE, INC, an estimated $60.2M position sold in full.
By sector, the portfolio is most concentrated in Energy at 11% of assets, up from 9.4% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Israel Englander opened a new position in Johnson & Johnson worth $72.5M.
- Israel Englander's largest Q3 2013 buy was Johnson & Johnson: 836,108 shares worth $72.5M.
- Israel Englander added most to American Electric Power in Q3 2013, an estimated $119M increase.
- Israel Englander's biggest Q3 2013 reduction was Duke Energy, cutting an estimated $125M.
- Israel Englander fully exited BMC SOFTWARE, INC in Q3 2013, selling an estimated $60.2M.
- Israel Englander's ten largest holdings make up 22% of its $31.1B portfolio in Q3 2013.
- Israel Englander opened 955 new positions and closed 642 in Q3 2013.
- Israel Englander's portfolio value fell 4.8% quarter-over-quarter to $31.1B.
Based on Millennium Management's 13F filing for Q3 2013, filed 14 Nov 2013.