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 |
MRO
Marathon Oil Corporation
MRO
|
+$180M |
| 2 |
BHI
Baker Hughes
BHI
|
+$173M |
| 3 |
Dominion Energy
D
|
+$161M |
| 4 |
Kinder Morgan
KMI
|
+$155M |
| 5 |
Marathon Petroleum
MPC
|
+$154M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FRX
FOREST LABORATORIES INC
FRX
|
+$177M |
| 2 |
SLB Ltd
SLB
|
+$121M |
| 3 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$119M |
| 4 |
PepsiCo
PEP
|
+$110M |
| 5 |
Mastercard
MA
|
+$104M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 15.14% |
| 2 | Healthcare | 12.64% |
| 3 | Financials | 8.59% |
| 4 | Utilities | 7.75% |
| 5 | Technology | 7.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
DuPont de Nemours
DD
$18.7B
| $104M | 0.26% |
784,579
+296,785
| +61% | +$39.6M |
|
52
CF Industries
CF
$19.6B
| $104M | 0.26% |
1,865,190
+1,406,645
| +307% | +$71.4M |
|
53
Occidental Petroleum
OXY
$61.3B
| $101M | 0.26% |
1,100,372
+1,008,522
| +1,098% | +$96.8M |
|
54
American Tower
AMT
$81.9B
| $101M | 0.25% |
1,073,603
+1,020,704
| +1,930% | +$97.1M |
|
55
Micron Technology
MU
$1.09T
| $100M | 0.25% |
2,925,904
-252,979
| -8% | -$8.19M |
|
56
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $100M | 0.25% |
508,300
+478,200
| +1,589% | +$94.5M |
|
57
Medtronic
MDT
$119B
| $97.4M | 0.25% |
1,571,746
+206,939
| +15% | +$13.2M |
|
|
TWC
58
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $97.2M | 0.25% |
677,252
-133,002
| -16% | -$19.8M |
|
|
59
PepsiCo
PEP
$196B
| $95.3M | 0.24% |
1,023,676
-1,199,600
| -54% | -$110M |
|
|
KRFT
60
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
| $94.8M | 0.24% |
1,680,108
+993,644
| +145% | +$57.4M |
|
|
CIE
61
DELISTED
Cobalt International Energy, Inc
CIE
| $93.9M | 0.24% |
460,095
+163,052
| +55% | +$37.8M |
|
62
Halliburton
HAL
$29.4B
| $93.7M | 0.24% |
1,452,796
+28,781
| +2% | +$1.97M |
|
63
Archrock
AROC
$5.58B
| $93.4M | 0.24% |
2,106,870
+408,445
| +24% | +$17.9M |
|
64
Western Digital
WDC
$166B
| $91.8M | 0.23% |
1,247,424
+250,315
| +25% | +$18.8M |
|
|
RICE
65
DELISTED
Rice Energy Inc.
RICE
| $91.6M | 0.23% |
3,442,804
+2,066,129
| +150% | +$57.7M |
|
66
Hilton Worldwide
HLT
$73.5B
| $89.3M | 0.23% |
1,209,178
-123,700
| -9% | -$9.19M |
|
67
CALL
Bristol-Myers Squibb
BMY
$137B
| $88.2M | 0.22% |
1,723,700
+678,300
| +65% | +$33.9M |
|
68
Salesforce
CRM
$171B
| $88.1M | 0.22% |
1,531,591
+899,782
| +142% | +$50.7M |
|
69
PPG Industries
PPG
$25.3B
| $87.5M | 0.22% |
889,280
+113,348
| +15% | +$11.5M |
|
|
MRC
70
DELISTED
MRC Global
MRC
| $87.1M | 0.22% |
3,736,027
+3,267,608
| +698% | +$84M |
|
|
DYN
71
DELISTED
Dynegy, Inc.
DYN
| $86.9M | 0.22% |
3,010,196
+1,257,600
| +72% | +$37.3M |
|
72
OGE Energy
OGE
$9.42B
| $86.5M | 0.22% |
2,331,458
-402,547
| -15% | -$14.8M |
|
73
NiSource
NI
$19.5B
| $86.1M | 0.22% |
5,344,719
-4,915,090
| -48% | -$75.1M |
|
74
Cheniere Energy
LNG
$57.3B
| $85M | 0.22% |
1,062,613
+331,578
| +45% | +$25.3M |
|
|
STJ
75
DELISTED
St Jude Medical
STJ
| $84.6M | 0.21% |
+1,407,737
| New | +$92M |
|
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Israel Englander's Q3 2014 Portfolio in Review
As of Q3 2014, Israel Englander held 4,400 positions worth $39.5B, up 9.5% from $36.1B the previous quarter. Its ten largest holdings account for 11% of the portfolio.
Israel Englander deployed $4.94B of net new capital in Q3 2014, opening 1,066 new positions and adding to 1,336 existing holdings. Its largest new stake was St Jude Medical: 1,407,737 shares worth $84.6M.
By sector, the portfolio is most concentrated in Energy at 15% of assets, up from 15% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was SLB Ltd, an estimated $121M trimmed.
- Israel Englander's largest Q3 2014 buy was St Jude Medical: 1,407,737 shares worth $84.6M.
- Israel Englander added most to Marathon Oil Corporation in Q3 2014, an estimated $180M increase.
- Israel Englander's biggest Q3 2014 reduction was SLB Ltd, cutting an estimated $121M.
- Israel Englander fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $177M.
- Israel Englander's ten largest holdings make up 11% of its $39.5B portfolio in Q3 2014.
- Israel Englander opened 1,066 new positions and closed 749 in Q3 2014.
- Israel Englander's portfolio value rose 9.5% quarter-over-quarter to $39.5B.
Based on Millennium Management's 13F filing for Q3 2014, filed 14 Nov 2014.