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 | |
|---|---|---|---|---|---|---|
|
VRNG
701
DELISTED
VRINGO, INC COM STK NEW (DE)
VRNG
| $9.61M | 0.03% |
334,711
+167,144
| +100% | +$5.27M |
|
702
Broadcom
AVGO
$1.75T
| $9.6M | 0.03% |
2,228,070
+214,110
| +11% | +$822K |
|
703
CALL
Petrobras
PBR
$123B
| $9.56M | 0.03% |
617,500
| – | – |
|
|
OUTR
704
CALL
DELISTED
OUTERWALL INC
OUTR
| $9.56M | 0.03% |
+191,100
| New | +$11.3M |
|
705
Aptiv
APTV
$10B
| $9.54M | 0.03% |
163,353
-35,431
| -18% | -$1.97M |
|
|
SFUN
706
DELISTED
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
| $9.48M | 0.03% |
18,363
+15,595
| +563% | +$6M |
|
|
AOL
707
DELISTED
AOL INC COMMON STOCK
AOL
| $9.47M | 0.03% |
274,006
+179,050
| +189% | +$6.37M |
|
|
ANSS
708
DELISTED
Ansys
ANSS
| $9.44M | 0.03% |
+109,122
| New | +$9.11M |
|
|
HTWR
709
DELISTED
HEARTWARE INTERNATIONAL INC COM STK (DE)
HTWR
| $9.44M | 0.03% |
128,931
+126,811
| +5,982% | +$10.8M |
|
710
PUT
Micron Technology
MU
$1.09T
| $9.43M | 0.03% |
+539,800
| New | +$7.83M |
|
711
Acacia Research
ACTG
$440M
| $9.42M | 0.03% |
408,348
-88,015
| -18% | -$2.01M |
|
712
CALL
DaVita
DVA
$11.1B
| $9.38M | 0.03% |
164,900
+124,700
| +310% | +$7.14M |
|
|
PARA
713
CALL
DELISTED
Paramount Global Class B
PARA
| $9.37M | 0.03% |
+169,900
| New | +$9.04M |
|
|
LGF
714
DELISTED
Lions Gate Entertainment
LGF
| $9.37M | 0.03% |
267,392
+107,868
| +68% | +$3.66M |
|
|
SPRD
715
DELISTED
SPREADTRUM COMMUNICATIONS INC ADS (CAYMAN ISLANDS)
SPRD
| $9.36M | 0.03% |
+307,121
| New | +$9.09M |
|
|
FTR
716
DELISTED
Frontier Communications Corp.
FTR
| $9.35M | 0.03% |
149,141
+136,701
| +1,099% | +$8.89M |
|
717
Cogent Communications
CCOI
$470M
| $9.34M | 0.03% |
289,544
+132,887
| +85% | +$4.08M |
|
718
Lincoln National
LNC
$8.07B
| $9.33M | 0.03% |
222,165
-119,431
| -35% | -$5.04M |
|
|
TEN
719
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $9.32M | 0.03% |
184,652
+98,021
| +113% | +$4.78M |
|
|
ALOG
720
DELISTED
Analogic Corp
ALOG
| $9.32M | 0.03% |
112,841
+24,638
| +28% | +$1.85M |
|
721
Trane Technologies
TT
$99.8B
| $9.31M | 0.03% |
179,521
-807,063
| -82% | -$39.5M |
|
|
WP
722
DELISTED
Worldpay, Inc.
WP
| $9.3M | 0.03% |
332,778
+291,178
| +700% | +$7.94M |
|
723
PUT
Lennar Class A
LEN
$21B
| $9.27M | 0.03% |
275,142
+196,350
| +249% | +$6.37M |
|
|
GG
724
CALL
DELISTED
Goldcorp Inc
GG
| $9.24M | 0.03% |
355,200
+155,200
| +78% | +$4.28M |
|
725
Cboe Global Markets
CBOE
$31.4B
| $9.24M | 0.03% |
204,195
-14,755
| -7% | -$700K |
|
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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.