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 | |
|---|---|---|---|---|---|---|
3551
PUT
Trip.com Group
TCOM
$29B
| – | – |
-18,600
| Closed | -$303K |
|
3552
Teledyne Technologies
TDY
$29.5B
| – | – |
-24,963
| Closed | -$1.93M |
|
3553
CALL
Teva Pharmaceuticals
TEVA
$43.5B
| – | – |
-96,300
| Closed | -$3.77M |
|
3554
Tredegar Corp
TG
$278M
| – | – |
-8,427
| Closed | -$217K |
|
|
TGI
3555
DELISTED
Triumph Group
TGI
| – | – |
-131,063
| Closed | -$10.4M |
|
3556
Gentherm
THRM
$1.24B
| – | – |
-123,272
| Closed | -$2.29M |
|
3557
iShares TIPS Bond ETF
TIP
$14.9B
| – | – |
-7,174
| Closed | -$804K |
|
3558
TJX Companies
TJX
$155B
| – | – |
-449,966
| Closed | -$11.3M |
|
3559
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$46.3B
| – | – |
-12,200
| Closed | -$1.35M |
|
3560
Toyota
TM
$234B
| – | – |
-23,375
| Closed | -$2.98M |
|
3561
Tilly's
TLYS
$120M
| – | – |
-13,735
| Closed | -$220K |
|
3562
Thermo Fisher Scientific
TMO
$233B
| – | – |
-51,077
| Closed | -$4.32M |
|
3563
Tootsie Roll Industries
TR
$3.08B
| – | – |
-25,419
| Closed | -$550K |
|
3564
Tejon Ranch
TRC
$444M
| – | – |
-8,895
| Closed | -$239K |
|
3565
Trinity Industries
TRN
$2.37B
| – | – |
-600,051
| Closed | -$8.3M |
|
3566
CALL
Tronox
TROX
$888M
| – | – |
-19,600
| Closed | -$395K |
|
3567
Tractor Supply
TSCO
$18.2B
| – | – |
-400,000
| Closed | -$4.7M |
|
3568
Tesla
TSLA
$1.43T
| – | – |
-37,500
| Closed | -$268K |
|
3569
TSMC
TSM
$2.17T
| – | – |
-360,912
| Closed | -$6.61M |
|
3570
Telus
TU
$15.6B
| – | – |
-69,600
| Closed | -$1.02M |
|
3571
Under Armour
UAA
$2.32B
| – | – |
-573,696
| Closed | -$10.1M |
|
3572
United States Antimony
UAMY
$822M
| – | – |
-11,200
| Closed | -$12K |
|
3573
United Bankshares
UBSI
$6.51B
| – | – |
-14,673
| Closed | -$388K |
|
3574
CALL
UDR
UDR
$12.1B
| – | – |
-75,000
| Closed | -$1.91M |
|
3575
UNIFI
UFI
$149M
| – | – |
-23,524
| Closed | -$486K |
|
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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.