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 | |
|---|---|---|---|---|---|---|
2526
United Therapeutics
UTHR
$22.2B
| $511K | ﹤0.01% |
6,482
-69,597
| -91% | -$5.09M |
|
|
SPA
2527
DELISTED
Sparton
SPA
| $511K | ﹤0.01% |
+20,056
| New | +$396K |
|
|
CVSA
2528
PUT
Covista Inc
CVSA
$4.64B
| $510K | ﹤0.01% |
+16,700
| New | +$515K |
|
2529
Banco Santander Chile
BSAC
$17B
| $510K | ﹤0.01% |
+19,411
| New | +$463K |
|
2530
Independent Bank Corp
IBCP
$815M
| $510K | ﹤0.01% |
+50,977
| New | +$431K |
|
2531
Monro
MNRO
$436M
| $509K | ﹤0.01% |
+10,972
| New | +$501K |
|
|
IQNT
2532
DELISTED
Inteliquent, Inc.
IQNT
| $508K | ﹤0.01% |
+52,600
| New | +$419K |
|
|
MESG
2533
DELISTED
XURA INC COM (DE)
MESG
| $508K | ﹤0.01% |
+15,898
| New | +$496K |
|
2534
CALL
Cigna
CI
$73.8B
| $507K | ﹤0.01% |
+6,600
| New | +$515K |
|
2535
Goldgroup Mining
GORO
$292M
| $507K | ﹤0.01% |
76,505
+56,423
| +281% | +$447K |
|
2536
Movado Group
MOV
$777M
| $507K | ﹤0.01% |
11,584
-28,674
| -71% | -$1.12M |
|
2537
CALL
Yum! Brands
YUM
$42.6B
| $507K | ﹤0.01% |
+9,876
| New | +$512K |
|
2538
Ennis
EBF
$543M
| $506K | ﹤0.01% |
+28,033
| New | +$511K |
|
2539
Mativ Holdings
MATV
$682M
| $506K | ﹤0.01% |
8,367
-2,450
| -23% | -$138K |
|
|
CZZ
2540
DELISTED
Cosan Limited
CZZ
| $506K | ﹤0.01% |
32,891
-113,350
| -78% | -$1.71M |
|
2541
PUT
EnerSys
ENS
$7.01B
| $503K | ﹤0.01% |
+8,300
| New | +$446K |
|
2542
PUT
General Mills
GIS
$21.3B
| $503K | ﹤0.01% |
+10,500
| New | +$527K |
|
|
REXX
2543
DELISTED
Rex Energy Corporation
REXX
| $502K | ﹤0.01% |
2,249
+495
| +28% | +$100K |
|
|
ICA
2544
DELISTED
EMPRESAS ICA, S.A. DE C.V. ADS (EA REPTG 4 ORD PART CERT)
ICA
| $502K | ﹤0.01% |
+58,807
| New | +$493K |
|
2545
PUT
Nordson
NDSN
$18.6B
| $501K | ﹤0.01% |
+6,800
| New | +$489K |
|
2546
PUT
WEC Energy
WEC
$34.8B
| $497K | ﹤0.01% |
+12,300
| New | +$512K |
|
|
BAGL
2547
DELISTED
EINSTEIN NOAH RESTAURANT GROUP, INC CMN STK (DELAWARE)
BAGL
| $497K | ﹤0.01% |
28,691
+6,098
| +27% | +$101K |
|
2548
TC Energy
TRP
$64.4B
| $493K | ﹤0.01% |
11,218
-120,733
| -91% | -$5.38M |
|
|
CALD
2549
DELISTED
Callidus Software, Inc.
CALD
| $493K | ﹤0.01% |
53,795
-2,577
| -5% | -$19.5K |
|
|
ADVS
2550
DELISTED
Advent Software Inc
ADVS
| $492K | ﹤0.01% |
+15,489
| New | +$462K |
|
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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.