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 | |
|---|---|---|---|---|---|---|
|
SE
51
DELISTED
Spectra Energy Corp Wi
SE
| $66.2M | 0.21% |
1,934,846
-648,707
| -25% | -$22.4M |
|
|
VIAB
52
DELISTED
Viacom Inc. Class B
VIAB
| $63.8M | 0.21% |
762,802
+708,197
| +1,297% | +$54.8M |
|
53
Abbott
ABT
$202B
| $62.9M | 0.2% |
1,894,518
+320,189
| +20% | +$11.2M |
|
54
Comcast
CMCSA
$95.3B
| $62.5M | 0.2% |
2,771,448
-2,005,656
| -42% | -$43.7M |
|
55
Darden Restaurants
DRI
$25.2B
| $61.8M | 0.2% |
1,492,637
+3,437
| +0.2% | +$149K |
|
56
Patterson-UTI
PTEN
$4.71B
| $60.4M | 0.19% |
2,824,777
+1,035,981
| +58% | +$21.3M |
|
|
DISH
57
DELISTED
DISH Network Corp.
DISH
| $60.3M | 0.19% |
1,340,391
+658,515
| +97% | +$29.6M |
|
58
Amgen
AMGN
$238B
| $60M | 0.19% |
536,161
+529,720
| +8,224% | +$57.4M |
|
59
Meta Platforms (Facebook)
META
$1.4T
| $59.9M | 0.19% |
1,191,912
+813,244
| +215% | +$30.3M |
|
60
CNX Resources
CNX
$5.38B
| $59.7M | 0.19% |
2,130,542
-241,542
| -10% | -$6.31M |
|
61
Targa Resources
TRGP
$64.1B
| $59M | 0.19% |
808,532
+194,400
| +32% | +$13.4M |
|
62
Pinnacle West Capital
PNW
$11.8B
| $57.7M | 0.19% |
1,054,854
+640,122
| +154% | +$35.9M |
|
63
EOG Resources
EOG
$80.3B
| $57.5M | 0.19% |
679,330
-667,296
| -50% | -$51.8M |
|
64
APA Corp
APA
$15.2B
| $57.1M | 0.18% |
670,278
+120,805
| +22% | +$10M |
|
|
AGN
65
DELISTED
Allergan Inc
AGN
| $56.8M | 0.18% |
628,251
+475,090
| +310% | +$42.6M |
|
|
EA
66
DELISTED
Electronic Arts
EA
| $56.2M | 0.18% |
2,199,900
+1,295,872
| +143% | +$33.6M |
|
|
TFM
67
DELISTED
THE FRESH MARKET, INC COM STK
TFM
| $55.8M | 0.18% |
1,178,706
+1,121,646
| +1,966% | +$58.3M |
|
|
FITB
68
Fifth Third Bancorp
FITB
$49.7B
| $55.7M | 0.18% |
3,084,372
+1,633,895
| +113% | +$30.7M |
|
69
LyondellBasell Industries
LYB
$21.8B
| $55.4M | 0.18% |
756,093
-275,970
| -27% | -$19.2M |
|
|
INVX
70
Innovex International
INVX
$2.05B
| $55.3M | 0.18% |
481,902
+37,976
| +9% | +$3.88M |
|
|
FDO
71
DELISTED
FAMILY DOLLAR STORES
FDO
| $54.4M | 0.18% |
755,699
+57,303
| +8% | +$4.03M |
|
|
TFCF
72
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $53.6M | 0.17% |
+1,603,451
| New | +$50.6M |
|
|
RDC
73
DELISTED
Rowan Companies Plc
RDC
| $49.9M | 0.16% |
1,359,871
-409,519
| -23% | -$14.7M |
|
|
NYX
74
DELISTED
NYSE EURONEXT INC
NYX
| $49.9M | 0.16% |
1,189,151
+294,249
| +33% | +$12.3M |
|
75
AES
AES
$10.5B
| $49.7M | 0.16% |
3,742,982
-68,937
| -2% | -$884K |
|
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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.