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 | |
|---|---|---|---|---|---|---|
501
The Greenbrier Companies
GBX
$1.42B
| $14.8M | 0.05% |
599,923
+249,114
| +71% | +$5.79M |
|
|
AEGR
502
DELISTED
Aegerion Pharmaceuticals
AEGR
| $14.8M | 0.05% |
172,815
-141,327
| -45% | -$12M |
|
503
GSK
GSK
$105B
| $14.8M | 0.05% |
+236,199
| New | +$15.2M |
|
504
Viasat
VSAT
$10.3B
| $14.8M | 0.05% |
232,621
+131,628
| +130% | +$8.8M |
|
|
HAR
505
DELISTED
Harman International Industries
HAR
| $14.8M | 0.05% |
222,768
+191,311
| +608% | +$11.9M |
|
|
MDVN
506
DELISTED
MEDIVATION, INC.
MDVN
| $14.7M | 0.05% |
491,910
-18,904
| -4% | -$540K |
|
507
W&T Offshore
WTI
$592M
| $14.7M | 0.05% |
831,826
+438,516
| +111% | +$7.08M |
|
|
INFI
508
DELISTED
Infinity Pharmaceuticals, Inc.
INFI
| $14.7M | 0.05% |
844,492
+733,028
| +658% | +$14M |
|
|
EPL
509
DELISTED
EPL OIL & GAS, INC COMMON STK
EPL
| $14.7M | 0.05% |
395,304
+257,618
| +187% | +$8.6M |
|
|
ATVI
510
DELISTED
Activision Blizzard
ATVI
| $14.7M | 0.05% |
879,019
-2,518,736
| -74% | -$41.6M |
|
511
Cemex
CX
$16B
| $14.6M | 0.05% |
1,530,734
+941,621
| +160% | +$9.25M |
|
512
Vanda Pharmaceuticals
VNDA
$319M
| $14.6M | 0.05% |
1,329,620
+780,722
| +142% | +$8.34M |
|
513
CALL
Simon Property Group
SPG
$70.6B
| $14.5M | 0.05% |
+104,280
| New | +$15.1M |
|
|
PIR
514
DELISTED
Pier 1 Imports, Inc.
PIR
| $14.5M | 0.05% |
37,161
+26,784
| +258% | +$12.1M |
|
|
SWC
515
DELISTED
Stillwater Mining Co
SWC
| $14.5M | 0.05% |
1,316,662
+1,170,001
| +798% | +$13.5M |
|
|
WPX
516
DELISTED
WPX Energy, Inc.
WPX
| $14.4M | 0.05% |
746,836
-597,221
| -44% | -$11.5M |
|
517
Baxter International
BAX
$13.6B
| $14.4M | 0.05% |
402,303
-702,689
| -64% | -$27.3M |
|
518
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $14.3M | 0.05% |
351,700
+330,700
| +1,575% | +$13.1M |
|
|
519
Ameren
AEE
$29.4B
| $14.3M | 0.05% |
411,288
-2,475,558
| -86% | -$85.8M |
|
520
CALL
Energy Transfer Partners
ET
$73B
| $14.3M | 0.05% |
869,200
-351,600
| -29% | -$5.59M |
|
521
Masco
MAS
$14.5B
| $14.3M | 0.05% |
762,757
-210,447
| -22% | -$3.75M |
|
522
YPF Sociedad Anonima ADS
YPF
$20.1B
| $14.2M | 0.05% |
706,433
-444,379
| -39% | -$7.62M |
|
|
SCG
523
DELISTED
Scana
SCG
| $14.2M | 0.05% |
308,596
-289,371
| -48% | -$14.3M |
|
524
Insulet
PODD
$10.3B
| $14.2M | 0.05% |
+390,570
| New | +$13.1M |
|
|
CHMT
525
DELISTED
Chemtura Corporation
CHMT
| $14.1M | 0.05% |
614,390
-105,972
| -15% | -$2.4M |
|
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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.