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 | |
|---|---|---|---|---|---|---|
|
GRMN
3401
Garmin
GRMN
$56.9B
| – | – |
-21,402
| Closed | -$850K |
|
3402
Great Southern Bancorp
GSBC
$862M
| – | – |
-8,830
| Closed | -$238K |
|
3403
CALL
Goodyear
GT
$1.72B
| – | – |
-200,000
| Closed | -$3.06M |
|
|
GTLS
3404
DELISTED
Chart Industries
GTLS
| – | – |
-3,874
| Closed | -$365K |
|
3405
HCA Healthcare
HCA
$92.9B
| – | – |
-674,344
| Closed | -$26.3M |
|
|
HES
3406
CALL
DELISTED
Hess
HES
| – | – |
-61,200
| Closed | -$4.07M |
|
|
HI
3407
DELISTED
Hillenbrand
HI
| – | – |
-39,414
| Closed | -$935K |
|
3408
Highwoods Properties
HIW
$3.46B
| – | – |
-268,999
| Closed | -$9.58M |
|
3409
Hecla Mining
HL
$13.9B
| – | – |
-234,216
| Closed | -$698K |
|
3410
CALL
Herbalife
HLF
$1.33B
| – | – |
-120,400
| Closed | -$2.72M |
|
|
MCHB
3411
Mechanics Bancorp
MCHB
$3.59B
| – | – |
-24,669
| Closed | -$529K |
|
3412
Helmerich & Payne
HP
$4.35B
| – | – |
-20,524
| Closed | -$1.28M |
|
3413
PUT
HP
HPQ
$27.2B
| – | – |
-249,707
| Closed | -$2.81M |
|
3414
Healthcare Realty
HR
$6.65B
| – | – |
-289,841
| Closed | -$6.51M |
|
3415
HUB Group
HUBG
$2.49B
| – | – |
-56,528
| Closed | -$1.03M |
|
3416
CALL
Humana
HUM
$45.5B
| – | – |
-150,000
| Closed | -$12.7M |
|
|
3417
PUT
Humana
HUM
$45.5B
| – | – |
-150,000
| Closed | -$12.7M |
|
3418
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
| – | – |
-100,000
| Closed | -$9.09M |
|
3419
PUT
IAMGOLD
IAG
$12.1B
| – | – |
-301,000
| Closed | -$1.3M |
|
3420
Idacorp
IDA
$7.94B
| – | – |
-13,720
| Closed | -$655K |
|
3421
IDT Corp
IDT
$1.69B
| – | – |
-67,764
| Closed | -$756K |
|
3422
PUT
Illumina
ILMN
$33.1B
| – | – |
-411
| Closed | -$30K |
|
3423
IMAX
IMAX
$2.89B
| – | – |
-86,010
| Closed | -$2.14M |
|
3424
ING
ING
$99.5B
| – | – |
-13,500
| Closed | -$123K |
|
3425
PUT
Intel
INTC
$476B
| – | – |
-586,500
| Closed | -$14.2M |
|
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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.