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 | |
|---|---|---|---|---|---|---|
|
IPCM
2551
DELISTED
IPC HEALTHCARE INC COM DTD
IPCM
| $491K | ﹤0.01% |
9,631
-40,961
| -81% | -$2.12M |
|
2552
Rogers Corp
ROG
$2.23B
| $489K | ﹤0.01% |
8,224
-18,960
| -70% | -$1.04M |
|
2553
PUT
Sempra
SRE
$54.9B
| $488K | ﹤0.01% |
+11,400
| New | +$484K |
|
|
CONN
2554
PUT
DELISTED
Conn's Inc.
CONN
| $485K | ﹤0.01% |
+9,700
| New | +$574K |
|
2555
PUT
Cigna
CI
$73.8B
| $484K | ﹤0.01% |
+6,300
| New | +$492K |
|
|
MGI
2556
DELISTED
MoneyGram International, Inc. New
MGI
| $484K | ﹤0.01% |
24,723
-275,321
| -92% | -$5.91M |
|
2557
Casella Waste Systems
CWST
$5.95B
| $483K | ﹤0.01% |
83,937
+70,337
| +517% | +$354K |
|
|
TMHC
2558
DELISTED
Taylor Morrison
TMHC
| $483K | ﹤0.01% |
21,321
-467,668
| -96% | -$10.6M |
|
2559
Gray Television
GTN
$517M
| $481K | ﹤0.01% |
61,235
-88,216
| -59% | -$661K |
|
2560
Wintrust Financial
WTFC
$10.2B
| $481K | ﹤0.01% |
11,714
-40,868
| -78% | -$1.66M |
|
2561
CALL
Cooper Companies
COO
$14.2B
| $480K | ﹤0.01% |
+14,800
| New | +$477K |
|
2562
PUT
Hormel Foods
HRL
$13.1B
| $480K | ﹤0.01% |
+22,800
| New | +$479K |
|
2563
St. Joe Company
JOE
$3.96B
| $480K | ﹤0.01% |
+24,454
| New | +$515K |
|
2564
TTEC Holdings
TTEC
$69M
| $480K | ﹤0.01% |
+19,117
| New | +$473K |
|
|
ADT
2565
PUT
DELISTED
ADT Corp
ADT
| $480K | ﹤0.01% |
+11,800
| New | +$485K |
|
|
PTP
2566
DELISTED
PLATINUM UNDERWRITERS HLDGS LTD
PTP
| $480K | ﹤0.01% |
8,038
+2,056
| +34% | +$120K |
|
2567
Unitil
UTL
$983M
| $479K | ﹤0.01% |
16,371
-12,177
| -43% | -$359K |
|
|
GA
2568
DELISTED
GIANT INTERACTIVE GROUP INC ADR (CAYMAN ISLANDS)
GA
| $478K | ﹤0.01% |
+52,395
| New | +$429K |
|
|
PRMW
2569
DELISTED
Primo Water Corporation
PRMW
| $477K | ﹤0.01% |
62,011
+39,169
| +171% | +$320K |
|
|
EOX
2570
DELISTED
EMERALD OIL INC (MT)
EOX
| $476K | ﹤0.01% |
3,311
+2,038
| +160% | +$289K |
|
|
ARI
2571
Apollo Commercial Real Estate
ARI
$880M
| $475K | ﹤0.01% |
31,131
+15,173
| +95% | +$237K |
|
2572
PRA Group
PRAA
$741M
| $475K | ﹤0.01% |
+7,926
| New | +$425K |
|
|
CAA
2573
PUT
DELISTED
CalAtlantic Group, Inc.
CAA
| $475K | ﹤0.01% |
12,000
| – | – |
|
|
IO
2574
DELISTED
ION Geophysical Corporation
IO
| $474K | ﹤0.01% |
6,076
+28
| +0.5% | +$2.3K |
|
2575
PUT
AGNC Investment
AGNC
$12.9B
| $472K | ﹤0.01% |
+20,900
| New | +$470K |
|
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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.