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 | |
|---|---|---|---|---|---|---|
626
Sysco
SYY
$40.2B
| $11.1M | 0.04% |
348,388
+238,436
| +217% | +$8M |
|
627
Packaging Corp of America
PKG
$22.5B
| $11M | 0.04% |
193,324
+38,123
| +25% | +$2.06M |
|
628
Amphenol
APH
$194B
| $11M | 0.04% |
1,140,888
+819,888
| +255% | +$8.01M |
|
|
TRNX
629
DELISTED
TORNIER N V SHARES (NLD)
TRNX
| $11M | 0.04% |
569,895
+142,667
| +33% | +$2.65M |
|
630
RTX Corp
RTX
$283B
| $11M | 0.04% |
161,859
-88,475
| -35% | -$5.79M |
|
631
Kaiser Aluminum
KALU
$2.52B
| $11M | 0.04% |
154,059
-40,249
| -21% | -$2.72M |
|
632
CALL
Nektar Therapeutics
NKTR
$2.53B
| $11M | 0.04% |
70,040
+29,887
| +74% | +$5.53M |
|
|
HRC
633
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
| $11M | 0.04% |
306,001
+176,130
| +136% | +$6.23M |
|
|
WW
634
CALL
DELISTED
WW International
WW
| $10.9M | 0.04% |
292,900
+96,900
| +49% | +$3.9M |
|
635
Constellium
CSTM
$3.66B
| $10.9M | 0.04% |
563,158
+9,617
| +2% | +$175K |
|
636
Edison International
EIX
$27.5B
| $10.9M | 0.04% |
236,606
+229,106
| +3,055% | +$10.8M |
|
|
MDVN
637
PUT
DELISTED
MEDIVATION, INC.
MDVN
| $10.9M | 0.04% |
+363,000
| New | +$10.4M |
|
638
Waste Management
WM
$89.6B
| $10.8M | 0.03% |
262,299
+195,326
| +292% | +$8.14M |
|
639
COPT Defense Properties
CDP
$4.23B
| $10.7M | 0.03% |
465,301
+230,524
| +98% | +$5.75M |
|
|
GRT
640
DELISTED
GLIMCHER REALTY TRUST
GRT
| $10.7M | 0.03% |
1,101,967
+1,071,952
| +3,571% | +$11.5M |
|
641
Kratos Defense & Security Solutions
KTOS
$10.7B
| $10.7M | 0.03% |
1,296,109
-373,471
| -22% | -$2.82M |
|
642
Norwegian Cruise Line
NCLH
$7.92B
| $10.7M | 0.03% |
347,813
+291,767
| +521% | +$9.17M |
|
643
CALL
Target
TGT
$75.1B
| $10.7M | 0.03% |
167,600
+2,600
| +2% | +$177K |
|
644
CALL
Oracle
ORCL
$422B
| $10.7M | 0.03% |
323,100
-49,600
| -13% | -$1.61M |
|
645
ASML
ASML
$677B
| $10.7M | 0.03% |
108,345
-13,244
| -11% | -$1.19M |
|
646
CALL
Acadia Pharmaceuticals
ACAD
$5.08B
| $10.7M | 0.03% |
388,000
+183,200
| +89% | +$3.83M |
|
647
CALL
Freeport-McMoran
FCX
$110B
| $10.7M | 0.03% |
+322,000
| New | +$9.84M |
|
648
Spectrum Brands
SPB
$2B
| $10.7M | 0.03% |
161,758
+103,592
| +178% | +$6.33M |
|
|
649
CALL
Home Depot
HD
$335B
| $10.6M | 0.03% |
+140,000
| New | +$10.8M |
|
650
PUT
Newmont
NEM
$139B
| $10.6M | 0.03% |
377,500
+29,500
| +8% | +$874K |
|
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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.