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 |
Devon Energy
DVN
|
+$196M |
| 2 |
Verizon
VZ
|
+$166M |
| 3 |
Edison International
EIX
|
+$152M |
| 4 |
PPL
PPL Corp
PPL
|
+$122M |
| 5 |
Estee Lauder
EL
|
+$115M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ameren
AEE
|
+$140M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$136M |
| 3 |
ANDV
Andeavor
ANDV
|
+$111M |
| 4 |
LyondellBasell Industries
LYB
|
+$105M |
| 5 |
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
|
+$101M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 13.77% |
| 2 | Energy | 13.48% |
| 3 | Utilities | 8.99% |
| 4 | Financials | 8.47% |
| 5 | Consumer Discretionary | 8.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
3801
PUT
RH
RH
$2.9B
| – | – |
-9,800
| Closed | -$660K |
|
3802
Robert Half
RHI
$4.58B
| – | – |
-668,917
| Closed | -$28.1M |
|
3803
CALL
Ralph Lauren
RL
$22.2B
| – | – |
-1,200
| Closed | -$212K |
|
|
3804
PUT
Ralph Lauren
RL
$22.2B
| – | – |
-1,500
| Closed | -$265K |
|
3805
RLI Corp
RLI
$6B
| – | – |
-12,816
| Closed | -$312K |
|
3806
RLJ Lodging Trust
RLJ
$1.75B
| – | – |
-265,719
| Closed | -$6.46M |
|
3807
ResMed
RMD
$33.4B
| – | – |
-36,220
| Closed | -$1.63M |
|
3808
RenaissanceRe
RNR
$13.4B
| – | – |
-94,658
| Closed | -$9.21M |
|
3809
CALL
Range Resources
RRC
$9.59B
| – | – |
-323,700
| Closed | -$27.3M |
|
|
3810
PUT
Range Resources
RRC
$9.59B
| – | – |
-2,600
| Closed | -$219K |
|
3811
PUT
Republic Services
RSG
$67.6B
| – | – |
-6,900
| Closed | -$229K |
|
3812
Saic
SAIC
$5.41B
| – | – |
-70,156
| Closed | -$2.32M |
|
3813
Banco Santander
SAN
$212B
| – | – |
-177,698
| Closed | -$1.45M |
|
|
FLNA
3814
Filana Therapeutics
FLNA
$46.4M
| – | – |
-5,547
| Closed | -$189K |
|
3815
Safe Bulkers
SB
$869M
| – | – |
-80,772
| Closed | -$840K |
|
3816
CALL
SBA Communications
SBAC
$19.4B
| – | – |
-3,400
| Closed | -$305K |
|
|
3817
PUT
SBA Communications
SBAC
$19.4B
| – | – |
-6,200
| Closed | -$557K |
|
3818
Sinclair Inc
SBGI
$1.04B
| – | – |
-12,500
| Closed | -$447K |
|
|
3819
PUT
Sinclair Inc
SBGI
$1.04B
| – | – |
-7,000
| Closed | -$250K |
|
3820
CALL
Southern Copper
SCCO
$182B
| – | – |
-122,593
| Closed | -$3.22M |
|
3821
Scholastic
SCHL
$757M
| – | – |
-17,752
| Closed | -$604K |
|
|
SEE
3822
CALL
DELISTED
Sealed Air
SEE
| – | – |
-83,500
| Closed | -$2.84M |
|
|
SF
3823
Stifel
SF
$12.2B
| – | – |
-142,205
| Closed | -$3.03M |
|
3824
CALL
Signet Jewelers
SIG
$3.16B
| – | – |
-50,000
| Closed | -$3.94M |
|
3825
Silicom
SILC
$253M
| – | – |
-5,500
| Closed | -$251K |
|
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Israel Englander's Q1 2014 Portfolio in Review
As of Q1 2014, Israel Englander held 4,356 positions worth $34.5B, up 8.9% from $31.7B the previous quarter. Its ten largest holdings account for 7.9% of the portfolio.
Israel Englander deployed $1.49B of net new capital in Q1 2014, opening 945 new positions and adding to 1,266 existing holdings. Its largest new stake was Bausch Health: 575,504 shares worth $75.9M.
By sector, the portfolio is most concentrated in Healthcare at 14% of assets, up from 12% a quarter earlier, followed by Energy and Utilities.
On the sell side, the largest reduction was Ameren, an estimated $140M trimmed.
- Israel Englander's largest Q1 2014 buy was Bausch Health: 575,504 shares worth $75.9M.
- Israel Englander added most to Devon Energy in Q1 2014, an estimated $196M increase.
- Israel Englander's biggest Q1 2014 reduction was Ameren, cutting an estimated $140M.
- Israel Englander fully exited PepsiCo in Q1 2014, selling an estimated $89.1M.
- Israel Englander's ten largest holdings make up 7.9% of its $34.5B portfolio in Q1 2014.
- Israel Englander opened 945 new positions and closed 958 in Q1 2014.
- Israel Englander's portfolio value rose 8.9% quarter-over-quarter to $34.5B.
Based on Millennium Management's 13F filing for Q1 2014, filed 15 May 2014.