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 | |
|---|---|---|---|---|---|---|
2726
Curis
CRIS
$3.86M
| $376K | ﹤0.01% |
42
+34
| +425% | +$275K |
|
|
IRBT
2727
PUT
DELISTED
iRobot
IRBT
| $376K | ﹤0.01% |
10,000
| – | – |
|
|
PER
2728
DELISTED
SANDRIDGE PERMIAN TRUST
PER
| $374K | ﹤0.01% |
26,293
+1,676
| +7% | +$24.9K |
|
|
CEO
2729
DELISTED
CNOOC Limited
CEO
| $374K | ﹤0.01% |
+1,855
| New | +$353K |
|
2730
Alamo Group
ALG
$1.97B
| $373K | ﹤0.01% |
+7,631
| New | +$344K |
|
|
MFA
2731
CALL
MFA Financial
MFA
$894M
| $373K | ﹤0.01% |
12,500
| – | – |
|
|
MFA
2732
PUT
MFA Financial
MFA
$894M
| $373K | ﹤0.01% |
12,500
| – | – |
|
2733
CALL
Oneok
OKE
$57.8B
| $373K | ﹤0.01% |
+7,995
| New | +$347K |
|
2734
CALL
EOG Resources
EOG
$77B
| $372K | ﹤0.01% |
+4,400
| New | +$341K |
|
2735
PUT
Ford
F
$55.6B
| $371K | ﹤0.01% |
22,000
+5,700
| +35% | +$96.3K |
|
2736
Northwest Natural Holdings
NWN
$2.1B
| $371K | ﹤0.01% |
8,832
-22,376
| -72% | -$951K |
|
2737
PUT
Phillips 66
PSX
$94.5B
| $370K | ﹤0.01% |
+6,400
| New | +$371K |
|
|
MXWL
2738
DELISTED
Maxwell Technologies Inc
MXWL
| $369K | ﹤0.01% |
+40,719
| New | +$353K |
|
|
RSH
2739
DELISTED
RADIOSHACK CORP
RSH
| $369K | ﹤0.01% |
108,212
-139,093
| -56% | -$446K |
|
|
S
2740
DELISTED
Sprint Corporation
S
| $367K | ﹤0.01% |
+59,027
| New | +$389K |
|
2741
FormFactor
FORM
$8.42B
| $364K | ﹤0.01% |
53,034
+17,758
| +50% | +$121K |
|
2742
Williams Companies
WMB
$86.9B
| $364K | ﹤0.01% |
10,000
-562,933
| -98% | -$19.7M |
|
|
IPHI
2743
DELISTED
INPHI CORPORATION
IPHI
| $364K | ﹤0.01% |
+27,100
| New | +$329K |
|
2744
American Public Education
APEI
$846M
| $360K | ﹤0.01% |
9,523
-11,411
| -55% | -$449K |
|
2745
Bausch Health
BHC
$2.52B
| $360K | ﹤0.01% |
3,450
-86,240
| -96% | -$8.4M |
|
2746
MarketAxess Holdings
MKTX
$5.72B
| $360K | ﹤0.01% |
6,000
+1,000
| +20% | +$53.4K |
|
|
WWE
2747
DELISTED
World Wrestling Entertainment
WWE
| $360K | ﹤0.01% |
+35,368
| New | +$365K |
|
2748
ACI Worldwide
ACIW
$5.29B
| $359K | ﹤0.01% |
19,941
-55,485
| -74% | -$913K |
|
2749
PUT
Parker-Hannifin
PH
$128B
| $359K | ﹤0.01% |
3,300
-117,100
| -97% | -$12.1M |
|
2750
Performance Shipping
PSHG
$21M
| – | – |
0
| – | – |
|
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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.