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 | |
|---|---|---|---|---|---|---|
451
AutoZone
AZO
$48.3B
| $16.4M | 0.05% |
38,904
+35,111
| +926% | +$15M |
|
452
CALL
NetApp
NTAP
$37.7B
| $16.3M | 0.05% |
+383,400
| New | +$15.9M |
|
453
CALL
HP
HPQ
$27.2B
| $16.3M | 0.05% |
1,713,156
-782,371
| -31% | -$8.64M |
|
|
VAL
454
DELISTED
Valspar
VAL
| $16.3M | 0.05% |
257,266
+49,363
| +24% | +$3.23M |
|
455
CALL
National Grid
NGG
$80.2B
| $16.2M | 0.05% |
285,150
+249,390
| +697% | +$14.1M |
|
456
Applied Materials
AMAT
$391B
| $16.2M | 0.05% |
925,456
+808,722
| +693% | +$12.9M |
|
|
SHPG
457
DELISTED
Shire pic
SHPG
| $16.2M | 0.05% |
135,285
-114,050
| -46% | -$12.6M |
|
458
Graphic Packaging
GPK
$3.54B
| $16.2M | 0.05% |
1,886,973
+1,511,296
| +402% | +$12.9M |
|
459
Alcoa
AA
$13.7B
| $16.1M | 0.05% |
826,703
+248,681
| +43% | +$4.81M |
|
|
QEP
460
DELISTED
QEP RESOURCES, INC.
QEP
| $16.1M | 0.05% |
581,908
+256,815
| +79% | +$7.43M |
|
461
Intercontinental Exchange
ICE
$90.5B
| $16.1M | 0.05% |
443,775
+366,180
| +472% | +$13.3M |
|
|
RKT
462
DELISTED
ROCK-TENN COMPANY CL-A
RKT
| $16.1M | 0.05% |
317,722
-225,512
| -42% | -$12.6M |
|
463
Berkshire Hathaway Class B
BRK.B
$1.06T
| $16M | 0.05% |
141,300
+121,718
| +622% | +$14M |
|
|
NE
464
DELISTED
Noble Corporation
NE
| $16M | 0.05% |
485,123
+267,121
| +123% | +$9.08M |
|
|
TCO
465
DELISTED
Taubman Centers Inc.
TCO
| $16M | 0.05% |
237,648
+24,470
| +11% | +$1.76M |
|
|
ELN
466
PUT
DELISTED
ELAN CORP ADS(RP1 ORD4IRISH PN
ELN
| $16M | 0.05% |
1,025,000
+400,000
| +64% | +$6.03M |
|
467
International Paper
IP
$22B
| $16M | 0.05% |
381,249
-599,920
| -61% | -$26.7M |
|
|
RESI
468
DELISTED
Front Yard Residential Corporation Common Stock
RESI
| $15.9M | 0.05% |
692,818
+678,984
| +4,908% | +$13.1M |
|
469
PUT
State Street SPDR S&P Biotech ETF
XBI
$11.2B
| $15.9M | 0.05% |
+369,000
| New | +$14.9M |
|
470
Dine Brands
DIN
$454M
| $15.9M | 0.05% |
229,775
+135,713
| +144% | +$9.31M |
|
471
Freeport-McMoran
FCX
$110B
| $15.8M | 0.05% |
476,166
+430,448
| +942% | +$13.2M |
|
|
VOLC
472
DELISTED
VOLCANO CORPORATION COM STK
VOLC
| $15.6M | 0.05% |
653,280
-1,092,355
| -63% | -$23.3M |
|
473
CALL
Boeing
BA
$169B
| $15.6M | 0.05% |
+132,800
| New | +$14.3M |
|
474
J.M. Smucker
SJM
$13.3B
| $15.6M | 0.05% |
148,411
+73,610
| +98% | +$7.97M |
|
|
XL
475
DELISTED
XL Group Ltd.
XL
| $15.6M | 0.05% |
505,521
+121,200
| +32% | +$3.77M |
|
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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.