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 | |
|---|---|---|---|---|---|---|
|
HDS
251
DELISTED
HD Supply Holdings, Inc.
HDS
| $26.2M | 0.08% |
+1,191,712
| New | +$26.2M |
|
252
Western Digital
WDC
$166B
| $26.1M | 0.08% |
544,856
-282,696
| -34% | -$14M |
|
|
JAH
253
DELISTED
JARDEN CORPORATION
JAH
| $26.1M | 0.08% |
808,410
+160,117
| +25% | +$4.94M |
|
254
Devon Energy
DVN
$54B
| $26M | 0.08% |
450,837
-224,210
| -33% | -$12.8M |
|
|
AGN
255
CALL
DELISTED
Allergan plc
AGN
| $25.9M | 0.08% |
+180,000
| New | +$24M |
|
|
SLCA
256
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
| $25.5M | 0.08% |
1,023,513
+475,040
| +87% | +$11.1M |
|
257
Deere & Co
DE
$175B
| $25.4M | 0.08% |
+312,416
| New | +$26M |
|
|
INFA
258
DELISTED
INFORMATICA CORP
INFA
| $25.3M | 0.08% |
648,984
+379,093
| +140% | +$14.4M |
|
259
PUT
IBM
IBM
$222B
| $25.1M | 0.08% |
+141,942
| New | +$25.8M |
|
260
CALL
Trip.com Group
TCOM
$29B
| $25M | 0.08% |
855,200
-102,600
| -11% | -$2.21M |
|
261
Ryder
R
$9.58B
| $25M | 0.08% |
417,982
+127,316
| +44% | +$7.64M |
|
|
SWY
262
DELISTED
SAFEWAY INC
SWY
| $24.7M | 0.08% |
861,341
-431,318
| -33% | -$10.3M |
|
|
HERO
263
DELISTED
HERCULES OFFSHORE INC COM STK
HERO
| $24.6M | 0.08% |
3,342,381
+969,964
| +41% | +$7.07M |
|
264
SITE Centers
SITC
$161M
| $24.6M | 0.08% |
1,214,578
+763,836
| +169% | +$16.2M |
|
265
Owens Corning
OC
$11.7B
| $24.4M | 0.08% |
642,506
+206,335
| +47% | +$8.05M |
|
266
Vertex Pharmaceuticals
VRTX
$139B
| $24.4M | 0.08% |
321,254
+61,313
| +24% | +$4.88M |
|
267
Archer Daniels Midland
ADM
$38.7B
| $24.4M | 0.08% |
661,078
-432,167
| -40% | -$15.7M |
|
|
CTRX
268
DELISTED
CATAMARAN CORP COM STK (CDA)
CTRX
| $24.3M | 0.08% |
529,416
-24,351
| -4% | -$1.29M |
|
269
Pultegroup
PHM
$24.6B
| $24.2M | 0.08% |
1,464,187
+351,657
| +32% | +$6M |
|
|
SPPI
270
DELISTED
Spectrum Pharmaceuticals Inc
SPPI
| $24.1M | 0.08% |
2,876,187
+848,010
| +42% | +$6.87M |
|
271
MGIC Investment
MTG
$6.34B
| $24M | 0.08% |
3,302,839
+647,091
| +24% | +$4.59M |
|
|
JOY
272
DELISTED
Joy Global Inc
JOY
| $24M | 0.08% |
470,133
-492,166
| -51% | -$25.1M |
|
273
Hershey
HSY
$37.5B
| $24M | 0.08% |
259,159
-148,388
| -36% | -$13.8M |
|
274
AutoNation
AN
$6.6B
| $24M | 0.08% |
459,382
+402,434
| +707% | +$19.4M |
|
275
CALL
United Airlines
UAL
$36.7B
| $24M | 0.08% |
780,400
+170,900
| +28% | +$5.5M |
|
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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.