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 | |
|---|---|---|---|---|---|---|
|
PNK
726
DELISTED
Pinnacle Entertainment Inc.
PNK
| $9.23M | 0.03% |
368,482
+304,569
| +477% | +$6.83M |
|
727
Whirlpool
WHR
$2.62B
| $9.22M | 0.03% |
62,971
-47,925
| -43% | -$6.34M |
|
|
QCOR
728
DELISTED
QUESTCOR PHARMA INC
QCOR
| $9.22M | 0.03% |
158,989
+143,780
| +945% | +$8.55M |
|
729
Vishay Intertechnology
VSH
$4.67B
| $9.2M | 0.03% |
713,964
+192,769
| +37% | +$2.63M |
|
730
Gartner
IT
$12.8B
| $9.19M | 0.03% |
153,107
+6,531
| +4% | +$385K |
|
731
MasTec
MTZ
$20.5B
| $9.17M | 0.03% |
302,773
-14,587
| -5% | -$479K |
|
732
PUT
Vertex Pharmaceuticals
VRTX
$139B
| $9.17M | 0.03% |
+121,000
| New | +$9.63M |
|
|
PLPM
733
DELISTED
Planet Payment, Inc
PLPM
| $9.15M | 0.03% |
3,601,369
+1,365,684
| +61% | +$3.54M |
|
734
Amdocs
DOX
$6.48B
| $9.08M | 0.03% |
247,884
+239,041
| +2,703% | +$9.03M |
|
735
Take-Two Interactive
TTWO
$43.7B
| $9.06M | 0.03% |
498,479
-160,824
| -24% | -$2.81M |
|
|
TWC
736
CALL
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $9.05M | 0.03% |
81,100
+39,100
| +93% | +$4.4M |
|
737
PUT
APA Corp
APA
$15.1B
| $9.03M | 0.03% |
+106,000
| New | +$8.81M |
|
738
Evercore
EVR
$11.2B
| $9.01M | 0.03% |
183,046
+147,953
| +422% | +$6.81M |
|
739
Target
TGT
$77.2B
| $8.99M | 0.03% |
140,544
-103,735
| -42% | -$7.06M |
|
|
FCRE
740
DELISTED
FC Global Realty Incorporated Common Stock
FCRE
| $8.97M | 0.03% |
112,780
-16,200
| -13% | -$1.28M |
|
741
Intuit
INTU
$101B
| $8.96M | 0.03% |
+135,205
| New | +$8.71M |
|
|
WAC
742
DELISTED
Walter Investment Mgt Corp
WAC
| $8.95M | 0.03% |
226,441
+77,909
| +52% | +$2.99M |
|
|
FISV
743
Fiserv Inc
FISV
$28.2B
| $8.95M | 0.03% |
354,208
+228,000
| +181% | +$5.51M |
|
744
Medifast
MED
$134M
| $8.95M | 0.03% |
332,762
+152,377
| +84% | +$4.08M |
|
|
LVLT
745
DELISTED
Level 3 Communications Inc
LVLT
| $8.92M | 0.03% |
334,349
+206,686
| +162% | +$4.77M |
|
746
Boston Scientific
BSX
$71B
| $8.92M | 0.03% |
759,707
-1,651,327
| -68% | -$17.9M |
|
747
CALL
Cheniere Energy
CQP
$32.9B
| $8.9M | 0.03% |
+337,800
| New | +$9.5M |
|
748
CALL
Kinder Morgan
KMI
$69B
| $8.89M | 0.03% |
+250,000
| New | +$9.38M |
|
749
Service Corp International
SCI
$11.5B
| $8.89M | 0.03% |
477,486
+89,657
| +23% | +$1.67M |
|
|
ESL
750
DELISTED
Esterline Technologies
ESL
| $8.89M | 0.03% |
111,277
+1,894
| +2% | +$152K |
|
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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.