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 | |
|---|---|---|---|---|---|---|
301
Mueller Water Products
MWA
$3.89B
| $22.3M | 0.07% |
2,790,274
+657,723
| +31% | +$5.07M |
|
|
EDR
302
DELISTED
Education Realty Trust Inc
EDR
| $22.3M | 0.07% |
815,782
+586,810
| +256% | +$16.6M |
|
303
Newmont
NEM
$139B
| $22.2M | 0.07% |
791,134
+463,882
| +142% | +$13.7M |
|
|
MDCO
304
DELISTED
Medicines Co
MDCO
| $22.2M | 0.07% |
661,506
+552,973
| +509% | +$17.6M |
|
305
Bruker
BRKR
$9.07B
| $22.2M | 0.07% |
1,073,314
+172,030
| +19% | +$3.29M |
|
306
PUT
LyondellBasell Industries
LYB
$21.8B
| $22.2M | 0.07% |
+302,500
| New | +$21.1M |
|
307
Kimco Realty
KIM
$16.1B
| $22.1M | 0.07% |
1,097,380
+810,164
| +282% | +$17.3M |
|
308
Healthpeak Properties
DOC
$14.8B
| $22.1M | 0.07% |
592,811
+119,832
| +25% | +$4.67M |
|
|
ORIG
309
DELISTED
Ocean Rig UDW Inc. Class A Common Shares
ORIG
| $22M | 0.07% |
131
-15
| -10% | -$2.47M |
|
310
American Water Works
AWK
$26.9B
| $22M | 0.07% |
532,328
+310,587
| +140% | +$12.8M |
|
|
MDR
311
DELISTED
McDermott International
MDR
| $21.9M | 0.07% |
982,571
-398,338
| -29% | -$9.45M |
|
312
Costco
COST
$420B
| $21.8M | 0.07% |
189,634
+108,606
| +134% | +$12.5M |
|
|
NFX
313
DELISTED
Newfield Exploration
NFX
| $21.8M | 0.07% |
794,657
-1,361,007
| -63% | -$34.1M |
|
314
NNN REIT
NNN
$8.8B
| $21.7M | 0.07% |
+683,149
| New | +$22.8M |
|
315
NetApp
NTAP
$37.7B
| $21.7M | 0.07% |
509,338
+149,752
| +42% | +$6.23M |
|
316
CarMax
KMX
$8.82B
| $21.6M | 0.07% |
+445,760
| New | +$21.8M |
|
317
PUT
Dollar Tree
DLTR
$25.3B
| $21.5M | 0.07% |
+376,000
| New | +$20.3M |
|
|
UNS
318
DELISTED
UNS ENERGY CORP COM
UNS
| $21.5M | 0.07% |
460,282
+349,858
| +317% | +$16.7M |
|
319
Herc Holdings
HRI
$5.41B
| $21.4M | 0.07% |
321,871
+272,822
| +556% | +$20.9M |
|
320
Liberty Global Class C
LBTYK
$3.55B
| $21.4M | 0.07% |
700,409
-353,289
| -34% | -$10.6M |
|
|
QLIK
321
DELISTED
QLIK TECHNOLOGIES INC COM STK (DE)
QLIK
| $21.3M | 0.07% |
622,218
+507,505
| +442% | +$16.6M |
|
322
Capri Holdings
CPRI
$1.55B
| $21.3M | 0.07% |
285,785
-588,305
| -67% | -$41M |
|
|
SOHU
323
Sohu.com
SOHU
$372M
| $21.3M | 0.07% |
269,930
+128,929
| +91% | +$8.47M |
|
324
Gilead Sciences
GILD
$181B
| $21.2M | 0.07% |
337,932
-1,066,170
| -76% | -$63.7M |
|
|
CMA.WS
325
DELISTED
Comerica Incorporated Ws
CMA.WS
| $21.2M | 0.07% |
1,532,483
-4,600
| -0.3% | -$67.5K |
|
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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.