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 | |
|---|---|---|---|---|---|---|
326
Macy's
M
$6B
| $21.2M | 0.07% |
490,414
-27,911
| -5% | -$1.3M |
|
327
Diamondback Energy
FANG
$59B
| $21.1M | 0.07% |
495,207
+106,931
| +28% | +$4.35M |
|
|
TIBX
328
DELISTED
TIBCO SOFTWARE INC
TIBX
| $21.1M | 0.07% |
823,702
+585,133
| +245% | +$14M |
|
|
ROC
329
DELISTED
ROCKWOOD HLDGS INC
ROC
| $21.1M | 0.07% |
314,831
+148,009
| +89% | +$9.76M |
|
330
CALL
General Motors
GM
$77.2B
| $21M | 0.07% |
582,500
+382,500
| +191% | +$13.7M |
|
|
ICPT
331
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $20.7M | 0.07% |
300,486
+148,392
| +98% | +$7.33M |
|
|
BMR
332
DELISTED
BIOMED REALTY TRUST INC
BMR
| $20.6M | 0.07% |
1,107,982
+356,543
| +47% | +$7M |
|
333
Hasbro
HAS
$13.2B
| $20.6M | 0.07% |
436,367
+257,258
| +144% | +$12M |
|
|
CXO
334
PUT
DELISTED
CONCHO RESOURCES INC.
CXO
| $20.5M | 0.07% |
+188,800
| New | +$18M |
|
|
SWN
335
DELISTED
Southwestern Energy Company
SWN
| $20.5M | 0.07% |
563,717
+118,115
| +27% | +$4.48M |
|
|
PHH
336
DELISTED
PHH Corporation
PHH
| $20.5M | 0.07% |
862,392
-1,610,198
| -65% | -$35.7M |
|
|
DELL
337
DELISTED
DELL INC
DELL
| $20.3M | 0.07% |
1,479,377
-1,627,214
| -52% | -$22M |
|
|
FCE.A
338
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $20.3M | 0.07% |
1,072,209
-165,689
| -13% | -$3.01M |
|
339
Old Dominion Freight Line
ODFL
$42.8B
| $20.3M | 0.07% |
1,324,299
-124,515
| -9% | -$1.85M |
|
340
NetEase
NTES
$82.1B
| $20.3M | 0.07% |
1,397,890
+1,207,570
| +634% | +$16.5M |
|
|
TYC
341
DELISTED
TYCO INTL PLC COM SHS (IRL)
TYC
| $20.3M | 0.07% |
553,320
+291,873
| +112% | +$10.6M |
|
|
WBC
342
DELISTED
WABCO HOLDINGS INC.
WBC
| $20.1M | 0.06% |
238,894
-296,619
| -55% | -$23.7M |
|
343
NXP Semiconductors
NXPI
$56.9B
| $20.1M | 0.06% |
540,224
+271,409
| +101% | +$9.6M |
|
|
WBA
344
DELISTED
Walgreens Boots Alliance
WBA
| $20.1M | 0.06% |
373,639
+89,408
| +31% | +$4.49M |
|
345
SiriusXM
SIRI
$9.67B
| $20.1M | 0.06% |
518,728
+225,908
| +77% | +$8.41M |
|
346
SLM Corp
SLM
$4.97B
| $20.1M | 0.06% |
2,258,506
+1,091,662
| +94% | +$9.53M |
|
347
Insmed
INSM
$27.5B
| $20.1M | 0.06% |
1,285,871
+1,272,361
| +9,418% | +$16.2M |
|
348
HP
HPQ
$27.2B
| $20.1M | 0.06% |
2,105,517
+250,971
| +14% | +$2.77M |
|
|
ASTX
349
DELISTED
ASTEX PHARMACEUTICALS, INC COM
ASTX
| $20M | 0.06% |
2,355,404
+1,897,090
| +414% | +$12M |
|
|
KSU
350
DELISTED
Kansas City Southern
KSU
| $19.9M | 0.06% |
182,266
-47,480
| -21% | -$5.22M |
|
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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.