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 | |
|---|---|---|---|---|---|---|
|
NXTM
676
DELISTED
NxStage Medical Inc.
NXTM
| $10.1M | 0.03% |
767,065
+163,607
| +27% | +$2.15M |
|
677
CALL
Baidu
BIDU
$31.6B
| $10.1M | 0.03% |
+65,000
| New | +$8.38M |
|
|
VAR
678
DELISTED
Varian Medical Systems, Inc.
VAR
| $10.1M | 0.03% |
153,727
+8,680
| +6% | +$550K |
|
679
Martin Marietta Materials
MLM
$32.1B
| $10.1M | 0.03% |
102,611
-32,297
| -24% | -$3.21M |
|
680
Chipotle Mexican Grill
CMG
$46.7B
| $10M | 0.03% |
1,170,000
-4,135,050
| -78% | -$33.4M |
|
|
RAX
681
CALL
DELISTED
Rackspace Hosting Inc
RAX
| $10M | 0.03% |
189,800
-99,300
| -34% | -$4.59M |
|
682
CALL
Plains All American Pipeline
PAA
$17.4B
| $10M | 0.03% |
190,000
| – | – |
|
|
ATML
683
DELISTED
ATMEL CORP
ATML
| $10M | 0.03% |
1,344,260
-36,047
| -3% | -$274K |
|
|
B
684
CALL
Barrick Mining
B
$78.3B
| $9.99M | 0.03% |
536,700
+125,000
| +30% | +$2.2M |
|
685
Abercrombie & Fitch
ANF
$4.84B
| $9.89M | 0.03% |
279,735
-74,928
| -21% | -$3.31M |
|
|
SN
686
DELISTED
Sanchez Energy Corporation
SN
| $9.88M | 0.03% |
373,939
+362,431
| +3,149% | +$8.6M |
|
687
Delek US
DK
$4.38B
| $9.8M | 0.03% |
464,807
-321,067
| -41% | -$8.48M |
|
688
Community Health Systems
CYH
$424M
| $9.79M | 0.03% |
285,565
+219,561
| +333% | +$7.79M |
|
|
LXK
689
DELISTED
Lexmark Intl Inc
LXK
| $9.79M | 0.03% |
+296,738
| New | +$10.5M |
|
690
Extreme Networks
EXTR
$3B
| $9.77M | 0.03% |
1,872,481
+1,762,760
| +1,607% | +$7.17M |
|
|
CLDT
691
Chatham Lodging
CLDT
$631M
| $9.77M | 0.03% |
546,884
+133,835
| +32% | +$2.46M |
|
692
Ionis Pharmaceuticals
IONS
$9.93B
| $9.77M | 0.03% |
260,133
-554,185
| -68% | -$16.6M |
|
|
693
Duke Energy
DUK
$93.4B
| $9.76M | 0.03% |
146,128
-1,838,720
| -93% | -$125M |
|
|
HBI
694
DELISTED
Hanesbrands
HBI
| $9.75M | 0.03% |
625,996
+140,664
| +29% | +$2.09M |
|
695
Dentsply Sirona
XRAY
$2.18B
| $9.72M | 0.03% |
223,950
+108,320
| +94% | +$4.62M |
|
696
Delta Air Lines
DAL
$54.2B
| $9.72M | 0.03% |
412,071
-232,200
| -36% | -$4.84M |
|
697
Verizon
VZ
$205B
| $9.71M | 0.03% |
208,132
-498,293
| -71% | -$24.3M |
|
698
Molina Healthcare
MOH
$10.5B
| $9.7M | 0.03% |
272,326
-3,631
| -1% | -$134K |
|
|
ALR
699
DELISTED
Alere Inc
ALR
| $9.69M | 0.03% |
316,925
+50,158
| +19% | +$1.53M |
|
700
Newell Brands
NWL
$2.59B
| $9.63M | 0.03% |
350,033
-609,819
| -64% | -$16.2M |
|
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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.