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 | |
|---|---|---|---|---|---|---|
2951
CBIZ
CBZ
$2.96B
| $253K | ﹤0.01% |
34,036
+23,540
| +224% | +$169K |
|
2952
Hawaiian Electric Industries
HE
$1.97B
| $253K | ﹤0.01% |
10,073
-528,226
| -98% | -$13.6M |
|
2953
Morningstar
MORN
$8.16B
| $253K | ﹤0.01% |
+3,188
| New | +$246K |
|
2954
Microsoft
MSFT
$3.62T
| $253K | ﹤0.01% |
7,591
-791,673
| -99% | -$26M |
|
|
TSRE
2955
DELISTED
TRADE STREET RESIDENTIAL, INC. COMMON STOCK
TSRE
| $253K | ﹤0.01% |
44,304
-29,451
| -40% | -$183K |
|
|
CGX
2956
DELISTED
CONSOLIDATED GRAPHICS INC
CGX
| $253K | ﹤0.01% |
4,514
-14,687
| -76% | -$793K |
|
|
ONE
2957
DELISTED
HIGHER ONE HOLDINGS, INC COM STK
ONE
| $253K | ﹤0.01% |
33,032
+11,747
| +55% | +$107K |
|
2958
CALL
The Greenbrier Companies
GBX
$1.43B
| $252K | ﹤0.01% |
10,200
-12,900
| -56% | -$300K |
|
2959
Provident Financial
PROV
$114M
| $252K | ﹤0.01% |
15,172
+1,590
| +12% | +$27.8K |
|
|
EV
2960
CALL
DELISTED
Eaton Vance Corp.
EV
| $252K | ﹤0.01% |
+6,500
| New | +$259K |
|
|
XIN
2961
DELISTED
Xinyuan Real Estate
XIN
| $251K | ﹤0.01% |
4,177
-255
| -6% | -$13.8K |
|
|
2962
PUT
Microsoft
MSFT
$3.62T
| $250K | ﹤0.01% |
+7,500
| New | +$247K |
|
2963
Boeing
BA
$166B
| $249K | ﹤0.01% |
2,122
-281,029
| -99% | -$30.3M |
|
2964
BGC Group
BGC
$5.68B
| $249K | ﹤0.01% |
68,574
-47,737
| -41% | -$183K |
|
2965
CALL
Union Pacific
UNP
$184B
| $249K | ﹤0.01% |
+3,200
| New | +$253K |
|
|
2966
PUT
Union Pacific
UNP
$184B
| $249K | ﹤0.01% |
+3,200
| New | +$253K |
|
|
AEC
2967
DELISTED
ASSOCIATED ESTATES REALTY CORP
AEC
| $249K | ﹤0.01% |
16,687
-316,975
| -95% | -$4.82M |
|
|
ETRM
2968
DELISTED
EnteroMedics Inc.
ETRM
| $249K | ﹤0.01% |
+190
| New | +$221K |
|
2969
Intel
INTC
$461B
| $248K | ﹤0.01% |
10,800
-360,348
| -97% | -$8.3M |
|
2970
PUT
Prologis
PLD
$136B
| $248K | ﹤0.01% |
+6,600
| New | +$249K |
|
|
ARC
2971
DELISTED
ARC Document Solutions, Inc.
ARC
| $248K | ﹤0.01% |
54,081
-1,488
| -3% | -$7K |
|
2972
PUT
Everest Group
EG
$14.4B
| $247K | ﹤0.01% |
+1,700
| New | +$230K |
|
2973
Photronics
PLAB
$1.74B
| $247K | ﹤0.01% |
31,531
-40,071
| -56% | -$314K |
|
|
VMRK
2974
PUT
Vivmark Residential
VMRK
$25.5B
| $246K | ﹤0.01% |
+4,600
| New | +$253K |
|
|
ILG
2975
DELISTED
ILG, Inc Common Stock
ILG
| $246K | ﹤0.01% |
10,409
-92,453
| -90% | -$2.03M |
|
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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.