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 | |
|---|---|---|---|---|---|---|
376
CALL
Apple
AAPL
$4.51T
| $18.7M | 0.06% |
1,100,400
+338,800
| +44% | +$5.62M |
|
|
PNRA
377
DELISTED
Panera Bread Co
PNRA
| $18.7M | 0.06% |
118,075
+95,817
| +430% | +$16.6M |
|
378
CALL
Chipotle Mexican Grill
CMG
$46.7B
| $18.6M | 0.06% |
2,175,000
-1,100,000
| -34% | -$8.89M |
|
|
HNT
379
DELISTED
HEALTH NET INC
HNT
| $18.6M | 0.06% |
587,239
-21,457
| -4% | -$677K |
|
|
STJ
380
DELISTED
St Jude Medical
STJ
| $18.6M | 0.06% |
346,629
+249,375
| +256% | +$12.8M |
|
381
Camden Property Trust
CPT
$10.8B
| $18.6M | 0.06% |
302,139
+181,782
| +151% | +$12.2M |
|
382
Universal Health Services
UHS
$10.4B
| $18.5M | 0.06% |
246,621
-95,662
| -28% | -$6.67M |
|
|
SPNC
383
DELISTED
Spectranetics Corp
SPNC
| $18.5M | 0.06% |
1,100,625
+720,813
| +190% | +$12.6M |
|
384
Kohl's
KSS
$2B
| $18.5M | 0.06% |
356,779
+305,261
| +593% | +$15.9M |
|
385
PUT
Abercrombie & Fitch
ANF
$4.84B
| $18.4M | 0.06% |
+521,300
| New | +$23.1M |
|
386
Equinor
EQNR
$102B
| $18.3M | 0.06% |
808,837
+377,074
| +87% | +$8.26M |
|
387
Cardinal Health
CAH
$53.4B
| $18.3M | 0.06% |
350,937
-14,795
| -4% | -$752K |
|
|
PACD
388
DELISTED
Pacific Drilling S A
PACD
| $18.3M | 0.06% |
165,044
-24,431
| -13% | -$2.43M |
|
389
CALL
NOV
NOV
$7.28B
| $18.3M | 0.06% |
259,173
+14,971
| +6% | +$1M |
|
390
Sally Beauty Holdings
SBH
$1.55B
| $18.2M | 0.06% |
+695,638
| New | +$19.5M |
|
|
MDC
391
DELISTED
M.D.C. Holdings, Inc.
MDC
| $18.2M | 0.06% |
841,652
-799,636
| -49% | -$17.6M |
|
392
Morgan Stanley
MS
$336B
| $18.2M | 0.06% |
674,766
+514,512
| +321% | +$13.8M |
|
|
VMW
393
CALL
DELISTED
VMware, Inc
VMW
| $18.2M | 0.06% |
224,700
+71,000
| +46% | +$5.74M |
|
394
VeriSign
VRSN
$25.5B
| $18.1M | 0.06% |
356,431
-365,041
| -51% | -$17.6M |
|
395
Range Resources
RRC
$9.59B
| $18.1M | 0.06% |
238,978
-291,435
| -55% | -$22.8M |
|
396
Procter & Gamble
PG
$336B
| $18.1M | 0.06% |
238,816
-636,007
| -73% | -$50.6M |
|
397
Charles River Laboratories
CRL
$14.1B
| $18M | 0.06% |
388,797
+182,220
| +88% | +$8.36M |
|
398
Hartford Financial Services
HIG
$36.9B
| $18M | 0.06% |
577,117
-97,186
| -14% | -$3.03M |
|
399
Rayonier
RYN
$6.31B
| $17.9M | 0.06% |
474,207
+392,943
| +484% | +$15.1M |
|
|
ALTR
400
DELISTED
Altera Corp
ALTR
| $17.9M | 0.06% |
+481,139
| New | +$17.3M |
|
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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.