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 | |
|---|---|---|---|---|---|---|
|
CAI
2476
DELISTED
CAI International, Inc.
CAI
| $543K | ﹤0.01% |
23,323
-97,350
| -81% | -$2.18M |
|
|
NTI
2477
DELISTED
NORTHERN TIER ENERGY LP CLASS A
NTI
| $540K | ﹤0.01% |
+27,405
| New | +$608K |
|
2478
Neonode
NEON
$15.3M
| $539K | ﹤0.01% |
+8,396
| New | +$592K |
|
2479
Pool Corp
POOL
$6.77B
| $539K | ﹤0.01% |
+9,619
| New | +$520K |
|
|
DEST
2480
DELISTED
Destination Maternity Corporation
DEST
| $539K | ﹤0.01% |
16,959
-429
| -2% | -$12.5K |
|
2481
Valley National Bancorp
VLY
$7.79B
| $538K | ﹤0.01% |
+54,098
| New | +$546K |
|
|
HOT
2482
PUT
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
| $538K | ﹤0.01% |
8,100
-2,100
| -21% | -$139K |
|
2483
Entegris
ENTG
$21.2B
| $537K | ﹤0.01% |
52,902
-145,012
| -73% | -$1.4M |
|
2484
CALL
Bank of Montreal
BMO
$121B
| $535K | ﹤0.01% |
8,000
+3,500
| +78% | +$220K |
|
|
GCOM
2485
DELISTED
GLOBECOMM SYSTEMS INC
GCOM
| $535K | ﹤0.01% |
38,194
+27,694
| +264% | +$390K |
|
2486
Onto Innovation
ONTO
$17.8B
| $534K | ﹤0.01% |
33,121
+11,921
| +56% | +$179K |
|
2487
Hyster-Yale Materials Handling
HY
$624M
| $533K | ﹤0.01% |
+5,944
| New | +$455K |
|
|
PTRY
2488
DELISTED
PANTRY INC (THE)
PTRY
| $533K | ﹤0.01% |
+48,099
| New | +$576K |
|
2489
CALL
Alaska Air
ALK
$4.84B
| $532K | ﹤0.01% |
17,000
| – | – |
|
2490
Exponent
EXPO
$3.33B
| $532K | ﹤0.01% |
+29,608
| New | +$494K |
|
2491
LivePerson
LPSN
$34.2M
| $532K | ﹤0.01% |
3,758
+2,751
| +273% | +$402K |
|
2492
Northern Oil and Gas
NOG
$2.82B
| $532K | ﹤0.01% |
3,683
+1,484
| +67% | +$198K |
|
2493
Team
TISI
$110M
| $532K | ﹤0.01% |
+1,338
| New | +$528K |
|
2494
HealthStream
HSTM
$844M
| $530K | ﹤0.01% |
13,991
-13,465
| -49% | -$439K |
|
|
BODY
2495
DELISTED
BODY CENTRAL CORP COM STK
BODY
| $530K | ﹤0.01% |
+86,925
| New | +$770K |
|
|
IRBT
2496
DELISTED
iRobot
IRBT
| $528K | ﹤0.01% |
14,016
+3,756
| +37% | +$135K |
|
2497
RB Global
RBA
$15.7B
| $528K | ﹤0.01% |
26,149
-122,921
| -82% | -$2.38M |
|
|
AMED
2498
DELISTED
Amedisys
AMED
| $525K | ﹤0.01% |
+30,528
| New | +$453K |
|
2499
Korea Electric Power
KEP
$15.2B
| $525K | ﹤0.01% |
37,404
-9,300
| -20% | -$122K |
|
2500
CALL
Hovnanian Enterprises
HOV
$747M
| $523K | ﹤0.01% |
4,000
| – | – |
|
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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.