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 | |
|---|---|---|---|---|---|---|
|
CAB
551
DELISTED
Cabela's Inc
CAB
| $13.3M | 0.04% |
210,429
+42,550
| +25% | +$2.84M |
|
|
MON
552
DELISTED
Monsanto Co
MON
| $13.2M | 0.04% |
126,625
-400,354
| -76% | -$40.2M |
|
553
CALL
Amgen
AMGN
$238B
| $13.2M | 0.04% |
+117,800
| New | +$12.8M |
|
|
ELNK
554
DELISTED
EarthLink Holdings Corp.
ELNK
| $13.2M | 0.04% |
2,662,940
-62,708
| -2% | -$350K |
|
555
CALL
Edwards Lifesciences
EW
$51.8B
| $13.2M | 0.04% |
1,135,200
+894,600
| +372% | +$10.5M |
|
|
JWN
556
DELISTED
Nordstrom
JWN
| $13.1M | 0.04% |
233,883
+190,592
| +440% | +$11.3M |
|
|
ABMD
557
DELISTED
Abiomed Inc
ABMD
| $13.1M | 0.04% |
686,358
+52,482
| +8% | +$1.2M |
|
558
CALL
Pitney Bowes
PBI
$2.26B
| $13.1M | 0.04% |
718,900
+309,700
| +76% | +$5.08M |
|
|
AMTD
559
DELISTED
TD Ameritrade Holding Corp
AMTD
| $13.1M | 0.04% |
+498,469
| New | +$13.2M |
|
|
TRW
560
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
| $13M | 0.04% |
182,779
-34,627
| -16% | -$2.43M |
|
561
PUT
PBF Energy
PBF
$8.72B
| $13M | 0.04% |
+578,700
| New | +$13.1M |
|
|
LVNTA
562
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $12.9M | 0.04% |
597,248
+279,373
| +88% | +$6M |
|
|
DATA
563
DELISTED
Tableau Software, Inc.
DATA
| $12.9M | 0.04% |
181,349
+108,765
| +150% | +$6.99M |
|
564
Edgewell Personal Care
EPC
$1.32B
| $12.9M | 0.04% |
+190,496
| New | +$14.1M |
|
565
Lear
LEA
$8.56B
| $12.9M | 0.04% |
179,780
-501,521
| -74% | -$34.5M |
|
|
PVA
566
DELISTED
PENN VIRGINIA CORP
PVA
| $12.8M | 0.04% |
1,932,283
+1,911,101
| +9,022% | +$9.95M |
|
|
BCR
567
CALL
DELISTED
CR Bard Inc.
BCR
| $12.8M | 0.04% |
+111,500
| New | +$12.8M |
|
|
STR
568
DELISTED
QUESTAR CORP
STR
| $12.8M | 0.04% |
570,933
+443,923
| +350% | +$10.2M |
|
569
Fortune Brands Innovations
FBIN
$5.32B
| $12.8M | 0.04% |
360,479
-2,109
| -0.6% | -$71.9K |
|
|
EMC
570
PUT
DELISTED
EMC CORPORATION
EMC
| $12.8M | 0.04% |
500,700
+700
| +0.1% | +$18.2K |
|
571
Revvity
RVTY
$13.9B
| $12.8M | 0.04% |
338,696
-325,454
| -49% | -$11.7M |
|
|
TVTY
572
DELISTED
Tivity Health, Inc. Common Stock
TVTY
| $12.7M | 0.04% |
688,325
+334,191
| +94% | +$6.04M |
|
573
Visteon
VC
$2.83B
| $12.7M | 0.04% |
168,232
+63,287
| +60% | +$4.4M |
|
574
Innoviva
INVA
$1.52B
| $12.7M | 0.04% |
386,296
+324,246
| +523% | +$10.1M |
|
575
Icon
ICLR
$13.3B
| $12.7M | 0.04% |
309,070
+34,801
| +13% | +$1.34M |
|
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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.