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 | |
|---|---|---|---|---|---|---|
651
International Flavors & Fragrances
IFF
$21.5B
| $10.6M | 0.03% |
128,712
-32,766
| -20% | -$2.65M |
|
|
PCP
652
DELISTED
PRECISION CASTPARTS CORP
PCP
| $10.6M | 0.03% |
46,615
-100,658
| -68% | -$22.7M |
|
653
CALL
Seagate
STX
$193B
| $10.6M | 0.03% |
241,200
+101,200
| +72% | +$4.25M |
|
654
AGNC Investment
AGNC
$12.9B
| $10.5M | 0.03% |
466,971
-889,947
| -66% | -$20M |
|
655
CVS Health
CVS
$119B
| $10.5M | 0.03% |
185,424
-192,697
| -51% | -$11.5M |
|
656
Marathon Petroleum
MPC
$101B
| $10.5M | 0.03% |
326,644
-1,569,926
| -83% | -$55.2M |
|
|
657
PUT
Seagate
STX
$193B
| $10.5M | 0.03% |
239,900
+49,900
| +26% | +$2.1M |
|
|
FDO
658
CALL
DELISTED
FAMILY DOLLAR STORES
FDO
| $10.5M | 0.03% |
145,700
-48,400
| -25% | -$3.4M |
|
|
DFS
659
PUT
DELISTED
Discover Financial Services
DFS
| $10.5M | 0.03% |
+207,300
| New | +$10.4M |
|
|
ARUN
660
DELISTED
ARUBA NETWORKS, INC.
ARUN
| $10.5M | 0.03% |
628,380
+431,873
| +220% | +$7.54M |
|
661
Petrobras Class A
PBR.A
$111B
| $10.4M | 0.03% |
623,093
-426,440
| -41% | -$6.43M |
|
662
Texas Capital Bancshares
TCBI
$4.27B
| $10.4M | 0.03% |
226,745
-123,295
| -35% | -$5.67M |
|
663
Polaris
PII
$3.66B
| $10.4M | 0.03% |
80,425
-182,539
| -69% | -$20.5M |
|
664
Rigel Pharmaceuticals
RIGL
$857M
| $10.3M | 0.03% |
289,072
+108,715
| +60% | +$3.97M |
|
665
Molson Coors Class B
TAP
$8.01B
| $10.3M | 0.03% |
206,353
-70,503
| -25% | -$3.55M |
|
666
CALL
AutoZone
AZO
$48.3B
| $10.3M | 0.03% |
24,400
+5,100
| +26% | +$2.18M |
|
|
CPWR
667
DELISTED
COMPUWARE CORP
CPWR
| $10.3M | 0.03% |
954,946
+159,715
| +20% | +$1.68M |
|
|
ECHO
668
EchoStar
ECHO
$25.2B
| $10.2M | 0.03% |
287,426
+225,273
| +362% | +$7.62M |
|
669
SunCoke Energy
SXC
$822M
| $10.2M | 0.03% |
600,999
+507,361
| +542% | +$8.07M |
|
670
Marvell Technology
MRVL
$213B
| $10.2M | 0.03% |
885,067
+794,565
| +878% | +$9.8M |
|
|
AGN
671
CALL
DELISTED
Allergan Inc
AGN
| $10.2M | 0.03% |
+112,500
| New | +$10.1M |
|
|
GLOG
672
DELISTED
GASLOG LTD
GLOG
| $10.2M | 0.03% |
680,742
+31,740
| +5% | +$442K |
|
|
CTXS
673
DELISTED
Citrix Systems Inc
CTXS
| $10.1M | 0.03% |
180,496
-828,971
| -82% | -$46.4M |
|
674
Pfizer
PFE
$160B
| $10.1M | 0.03% |
371,675
-1,041,637
| -74% | -$28.3M |
|
|
SGNT
675
DELISTED
SAGENT PHARMACEUTICALS INC COM STK (DE)
SGNT
| $10.1M | 0.03% |
495,617
+321,548
| +185% | +$7.16M |
|
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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.