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 | |
|---|---|---|---|---|---|---|
|
ASRT
2701
DELISTED
Assertio
ASRT
| $391K | ﹤0.01% |
+871
| New | +$356K |
|
2702
First Citizens BancShares
FCNCA
$24.4B
| $391K | ﹤0.01% |
1,900
-1,641
| -46% | -$338K |
|
2703
PACCAR
PCAR
$68.3B
| $391K | ﹤0.01% |
10,550
-121,014
| -92% | -$4.5M |
|
2704
PUT
Tidewater
TDW
$4.58B
| $391K | ﹤0.01% |
+205
| New | +$382K |
|
2705
PUT
Cooper Companies
COO
$14.4B
| $389K | ﹤0.01% |
+12,000
| New | +$387K |
|
2706
PUT
Oneok
OKE
$58.3B
| $389K | ﹤0.01% |
+8,338
| New | +$362K |
|
2707
CALL
Hormel Foods
HRL
$13B
| $388K | ﹤0.01% |
+18,400
| New | +$387K |
|
|
ECHO
2708
DELISTED
Echo Global Logistics, Inc.
ECHO
| $387K | ﹤0.01% |
+18,495
| New | +$390K |
|
|
DYN
2709
PUT
DELISTED
Dynegy, Inc.
DYN
| $386K | ﹤0.01% |
20,000
| – | – |
|
|
CVSA
2710
CALL
Covista Inc
CVSA
$4.54B
| $385K | ﹤0.01% |
+12,600
| New | +$388K |
|
2711
National CineMedia
NCMI
$262M
| $384K | ﹤0.01% |
2,036
-6,941
| -77% | -$1.26M |
|
|
VIA
2712
DELISTED
Viacom Inc. Class A
VIA
| $384K | ﹤0.01% |
+4,579
| New | +$356K |
|
|
CEO
2713
PUT
DELISTED
CNOOC Limited
CEO
| $383K | ﹤0.01% |
+1,900
| New | +$361K |
|
|
KAMN
2714
DELISTED
Kaman Corp
KAMN
| $382K | ﹤0.01% |
10,079
+4,161
| +70% | +$154K |
|
2715
Bankunited
BKU
$3.31B
| $381K | ﹤0.01% |
12,229
-74,037
| -86% | -$2.2M |
|
2716
NatWest
NWG
$74.7B
| $381K | ﹤0.01% |
30,550
-65,990
| -68% | -$738K |
|
|
SHLD
2717
DELISTED
Sears Holding Corporation
SHLD
| $381K | ﹤0.01% |
8,480
-13,911
| -62% | -$493K |
|
|
WLH
2718
DELISTED
WILLIAM LYON HOMES
WLH
| $381K | ﹤0.01% |
+18,741
| New | +$414K |
|
|
ACW
2719
DELISTED
Accuride Corp
ACW
| $380K | ﹤0.01% |
73,981
-232
| -0.3% | -$1.27K |
|
2720
Aviat Networks
AVNW
$271M
| $379K | ﹤0.01% |
24,604
+20,417
| +488% | +$320K |
|
|
AMAG
2721
DELISTED
AMAG Pharmaceuticals
AMAG
| $379K | ﹤0.01% |
17,650
-5,913
| -25% | -$140K |
|
2722
PUT
NextEra Energy
NEE
$175B
| $377K | ﹤0.01% |
+18,800
| New | +$388K |
|
|
UAM
2723
DELISTED
Universal American Corp
UAM
| $377K | ﹤0.01% |
49,473
-12,933
| -21% | -$113K |
|
|
AMCC
2724
DELISTED
Applied Micro Circuits Corporation New
AMCC
| $377K | ﹤0.01% |
29,222
-126,413
| -81% | -$1.44M |
|
2725
CDW
CDW
$17.2B
| $376K | ﹤0.01% |
+16,456
| New | +$364K |
|
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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.