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 | |
|---|---|---|---|---|---|---|
|
MWV
476
DELISTED
MEADWESTVACO CORP
MWV
| $15.6M | 0.05% |
405,887
-178,563
| -31% | -$6.57M |
|
477
Ashland
ASH
$3.33B
| $15.5M | 0.05% |
343,284
-174,878
| -34% | -$7.54M |
|
|
HOS
478
DELISTED
Hornbeck Offshore Services, Inc.
HOS
| $15.5M | 0.05% |
270,263
+225,942
| +510% | +$12.8M |
|
479
W.W. Grainger
GWW
$61.8B
| $15.5M | 0.05% |
59,243
+51,483
| +663% | +$13.4M |
|
|
WBMD
480
DELISTED
WebMD Health Corp.
WBMD
| $15.5M | 0.05% |
543,001
+352,597
| +185% | +$11M |
|
|
CNL
481
DELISTED
CLECO CRP (HOLDING CO)
CNL
| $15.4M | 0.05% |
342,892
-189,938
| -36% | -$8.86M |
|
|
NSR
482
DELISTED
Neustar Inc
NSR
| $15.4M | 0.05% |
+310,680
| New | +$16.2M |
|
|
ACTV
483
DELISTED
Active Network Inc
ACTV
| $15.3M | 0.05% |
1,072,294
+950,279
| +779% | +$9.14M |
|
|
APC
484
CALL
DELISTED
Anadarko Petroleum
APC
| $15.3M | 0.05% |
164,800
+900
| +0.5% | +$81.9K |
|
|
RBS.PRM
485
DELISTED
ROYAL BK SCOTLAND PLC SPONS ADR SER M REPSTG (UK)
RBS.PRM
| $15.3M | 0.05% |
+729,825
| New | +$14.9M |
|
|
K
486
DELISTED
Kellanova
K
| $15.3M | 0.05% |
277,362
+170,230
| +159% | +$10.2M |
|
|
RPT
487
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
| $15.3M | 0.05% |
990,041
+130,259
| +15% | +$2M |
|
488
RenaissanceRe
RNR
$13.4B
| $15.2M | 0.05% |
168,379
-25,034
| -13% | -$2.19M |
|
489
Hancock Whitney
HWC
$6.05B
| $15.2M | 0.05% |
484,185
+468,785
| +3,044% | +$15.2M |
|
|
OCR
490
DELISTED
OMNICARE INC
OCR
| $15.2M | 0.05% |
273,647
-49,109
| -15% | -$2.62M |
|
|
NFX
491
CALL
DELISTED
Newfield Exploration
NFX
| $15.2M | 0.05% |
+554,700
| New | +$13.9M |
|
|
CTB
492
CALL
DELISTED
Cooper Tire & Rubber Co.
CTB
| $15.1M | 0.05% |
+490,200
| New | +$16M |
|
|
CYNO
493
DELISTED
Cynosure, Inc. Class A
CYNO
| $15.1M | 0.05% |
661,317
+308,042
| +87% | +$7.66M |
|
494
Kennametal
KMT
$2.28B
| $15.1M | 0.05% |
330,667
+95,758
| +41% | +$4.16M |
|
495
Cadence Design Systems
CDNS
$87.9B
| $15.1M | 0.05% |
1,114,806
+835,084
| +299% | +$12M |
|
496
Aon
AON
$75.3B
| $15M | 0.05% |
201,833
+128,708
| +176% | +$8.83M |
|
|
497
CALL
Johnson & Johnson
JNJ
$651B
| $15M | 0.05% |
191,200
+40,700
| +27% | +$3.65M |
|
|
ELN
498
CALL
DELISTED
ELAN CORP ADS(RP1 ORD4IRISH PN
ELN
| $14.9M | 0.05% |
959,500
+533,000
| +125% | +$8.03M |
|
|
CTRA
499
CALL
DELISTED
Coterra Energy
CTRA
| $14.9M | 0.05% |
+400,300
| New | +$15M |
|
500
CALL
AutoNation
AN
$6.6B
| $14.9M | 0.05% |
285,000
-71,400
| -20% | -$3.45M |
|
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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.