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 | |
|---|---|---|---|---|---|---|
|
BZ
776
DELISTED
BOISE INC COM STK (DE)
BZ
| $8.57M | 0.03% |
680,000
+442,110
| +186% | +$4.22M |
|
|
ATHN
777
DELISTED
Athenahealth, Inc.
ATHN
| $8.57M | 0.03% |
78,890
+38,518
| +95% | +$4.16M |
|
778
Hain Celestial
HAIN
$75.8M
| $8.55M | 0.03% |
+221,768
| New | +$8.36M |
|
779
AstraZeneca
AZN
$259B
| $8.53M | 0.03% |
164,199
-131,245
| -44% | -$6.59M |
|
|
DNR
780
DELISTED
Denbury Resources, Inc.
DNR
| $8.52M | 0.03% |
462,571
-405,862
| -47% | -$7.15M |
|
781
CALL
Starbucks
SBUX
$123B
| $8.51M | 0.03% |
221,200
-70,200
| -24% | -$2.52M |
|
|
DRC
782
DELISTED
DRESSER-RAND GROUP INC
DRC
| $8.5M | 0.03% |
136,283
+105,389
| +341% | +$6.58M |
|
783
Unilever
UL
$141B
| $8.5M | 0.03% |
195,892
+84,766
| +76% | +$3.85M |
|
784
Carnival Corporation Ltd
CCL
$35.2B
| $8.48M | 0.03% |
259,685
-364,354
| -58% | -$13.2M |
|
|
MFA
785
MFA Financial
MFA
$904M
| $8.46M | 0.03% |
284,036
-210,531
| -43% | -$6.45M |
|
786
PUT
iShares US Home Construction ETF
ITB
$2.28B
| $8.46M | 0.03% |
+378,500
| New | +$8.32M |
|
|
SCHW
787
PUT
Charles Schwab
SCHW
$197B
| $8.46M | 0.03% |
+400,000
| New | +$8.7M |
|
788
CALL
Abbott
ABT
$202B
| $8.45M | 0.03% |
+254,500
| New | +$8.93M |
|
789
Dollar Tree
DLTR
$26.3B
| $8.42M | 0.03% |
147,228
-248,757
| -63% | -$13.4M |
|
790
SEI Investments
SEIC
$13.3B
| $8.4M | 0.03% |
271,814
-147,969
| -35% | -$4.56M |
|
|
BYI
791
DELISTED
BALLY TECHNOLOGIES, INC.
BYI
| $8.37M | 0.03% |
116,165
+71,200
| +158% | +$5.01M |
|
792
CALL
Steel Dynamics
STLD
$32.9B
| $8.36M | 0.03% |
500,000
+200,000
| +67% | +$3.17M |
|
793
CALL
Goldman Sachs
GS
$302B
| $8.35M | 0.03% |
52,800
+2,800
| +6% | +$451K |
|
|
X
794
CALL
DELISTED
US Steel
X
| $8.34M | 0.03% |
405,000
-11,400
| -3% | -$215K |
|
795
CALL
Lennar Class A
LEN
$21.2B
| $8.32M | 0.03% |
246,987
+147,184
| +147% | +$4.77M |
|
|
FSL
796
DELISTED
FREESCALE SEMICONDUCTOR LTD
FSL
| $8.31M | 0.03% |
499,137
-219,103
| -31% | -$3.38M |
|
|
WCG
797
DELISTED
Wellcare Health Plans, Inc.
WCG
| $8.29M | 0.03% |
118,909
-14,990
| -11% | -$959K |
|
798
Popular Inc
BPOP
$10.7B
| $8.29M | 0.03% |
315,661
-344,656
| -52% | -$10.9M |
|
799
CALL
Textron
TXT
$14.1B
| $8.28M | 0.03% |
300,000
+95,600
| +47% | +$2.67M |
|
800
TIM SA
TIMB
$8.69B
| $8.27M | 0.03% |
350,941
-477,501
| -58% | -$9.66M |
|
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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.