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 | |
|---|---|---|---|---|---|---|
401
Associated Banc-Corp
ASB
$5.82B
| $17.9M | 0.06% |
1,153,464
+1,076,770
| +1,404% | +$17.7M |
|
402
CALL
CNX Resources
CNX
$5.38B
| $17.9M | 0.06% |
636,720
+174,840
| +38% | +$4.57M |
|
403
Infosys
INFY
$48.4B
| $17.9M | 0.06% |
+2,968,368
| New | +$17.6M |
|
|
BRCM
404
PUT
DELISTED
BROADCOM CORP CL-A
BRCM
| $17.8M | 0.06% |
+684,800
| New | +$19.3M |
|
405
Goodyear
GT
$1.72B
| $17.8M | 0.06% |
792,928
+463,678
| +141% | +$8.87M |
|
406
Humana
HUM
$45.5B
| $17.7M | 0.06% |
189,901
-144,293
| -43% | -$13.2M |
|
|
DNY
407
DELISTED
DONNELLEY R R & SONS CO
DNY
| $17.7M | 0.06% |
+1,121,933
| New | +$17.7M |
|
|
TWX
408
CALL
DELISTED
Time Warner Inc
TWX
| $17.7M | 0.06% |
280,046
+207,036
| +284% | +$12.4M |
|
409
CALL
UnitedHealth
UNH
$350B
| $17.6M | 0.06% |
245,300
+900
| +0.4% | +$64.4K |
|
410
Melco Resorts & Entertainment
MLCO
$2.09B
| $17.5M | 0.06% |
551,263
+367,369
| +200% | +$9.81M |
|
411
Illumina
ILMN
$33.1B
| $17.5M | 0.06% |
222,949
+25,686
| +13% | +$1.96M |
|
412
Murphy Oil
MUR
$5.36B
| $17.5M | 0.06% |
290,520
+24,181
| +9% | +$1.42M |
|
413
Adobe
ADBE
$109B
| $17.5M | 0.06% |
337,258
-4,108
| -1% | -$196K |
|
414
Jacobs Solutions
J
$17.6B
| $17.5M | 0.06% |
363,973
+359,051
| +7,295% | +$17.5M |
|
415
Kinder Morgan
KMI
$69B
| $17.5M | 0.06% |
491,788
+474,588
| +2,759% | +$17.8M |
|
|
TIF
416
DELISTED
Tiffany & Co.
TIF
| $17.5M | 0.06% |
227,759
+66,703
| +41% | +$5.25M |
|
417
Tanger
SKT
$4.39B
| $17.4M | 0.06% |
532,330
-297,641
| -36% | -$9.75M |
|
|
ESV
418
DELISTED
Ensco Rowan plc
ESV
| $17.4M | 0.06% |
80,820
-18,514
| -19% | -$4.25M |
|
419
Nelnet
NNI
$4.55B
| $17.3M | 0.06% |
448,841
-249,415
| -36% | -$9.64M |
|
|
SCHW
420
Charles Schwab
SCHW
$194B
| $17.2M | 0.06% |
815,083
+778,183
| +2,109% | +$16.9M |
|
|
CRR
421
PUT
DELISTED
Carbo Ceramics Inc.
CRR
| $17.2M | 0.06% |
+173,100
| New | +$14.7M |
|
422
Nabors Industries
NBR
$1.37B
| $17.1M | 0.06% |
21,353
+6,262
| +41% | +$4.92M |
|
|
PPS
423
DELISTED
Post Properties
PPS
| $17.1M | 0.06% |
380,428
+83,493
| +28% | +$3.91M |
|
|
CYN
424
DELISTED
CITY NATIONAL CORPORATION
CYN
| $17.1M | 0.06% |
256,596
+213,744
| +499% | +$14.5M |
|
|
ESRX
425
DELISTED
Express Scripts Holding Company
ESRX
| $17M | 0.05% |
275,720
-794,741
| -74% | -$51.4M |
|
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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.