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 | |
|---|---|---|---|---|---|---|
826
Stride
LRN
$3.54B
| $7.97M | 0.03% |
258,169
+154,808
| +150% | +$4.96M |
|
827
Accuray
ARAY
$32.4M
| $7.97M | 0.03% |
1,079,973
-418,129
| -28% | -$2.64M |
|
828
Jack in the Box
JACK
$342M
| $7.96M | 0.03% |
199,135
+180,658
| +978% | +$7.28M |
|
829
iShares MSCI EAFE ETF
EFA
$79.9B
| $7.96M | 0.03% |
124,800
-24,959
| -17% | -$1.53M |
|
830
Designer Brands
DBI
$297M
| $7.93M | 0.03% |
185,902
-579,012
| -76% | -$23.4M |
|
|
PTR
831
DELISTED
PETROCHINA COMPANY LIMITED ADS (REP 100 H SHARES)
PTR
| $7.93M | 0.03% |
+72,131
| New | +$8.26M |
|
|
CHK
832
PUT
DELISTED
Chesapeake Energy Corporation
CHK
| $7.92M | 0.03% |
1,618
| – | – |
|
833
MSC Industrial Direct
MSM
$6.66B
| $7.91M | 0.03% |
97,191
+33,332
| +52% | +$2.66M |
|
834
CALL
Ericsson
ERIC
$33.3B
| $7.9M | 0.03% |
+591,700
| New | +$7.34M |
|
835
CALL
AstraZeneca
AZN
$259B
| $7.88M | 0.03% |
+151,800
| New | +$7.62M |
|
|
RBS.PRS.CL
836
DELISTED
The Royal Bank Of Scotland Group
RBS.PRS.CL
| $7.86M | 0.03% |
+366,955
| New | +$7.7M |
|
|
ATW
837
DELISTED
Atwood Oceanics
ATW
| $7.86M | 0.03% |
142,727
+45,122
| +46% | +$2.54M |
|
838
Matsons
MATX
$6.66B
| $7.85M | 0.03% |
299,344
+121,526
| +68% | +$3.36M |
|
839
American Eagle Outfitters
AEO
$2.83B
| $7.83M | 0.03% |
560,008
-210,006
| -27% | -$3.52M |
|
840
CALL
Johnson Controls International
JCI
$86.6B
| $7.83M | 0.03% |
+180,304
| New | +$7.64M |
|
|
FBC
841
DELISTED
Flagstar Bancorp, Inc. New
FBC
| $7.83M | 0.03% |
+530,177
| New | +$8.03M |
|
842
Raymond James Financial
RJF
$34B
| $7.78M | 0.03% |
280,209
+192,214
| +218% | +$5.55M |
|
843
DTE Energy
DTE
$28.2B
| $7.78M | 0.03% |
138,510
-85,413
| -38% | -$4.95M |
|
|
APOL
844
DELISTED
Apollo Education Group Inc Class A
APOL
| $7.77M | 0.03% |
373,562
-275,296
| -42% | -$5.32M |
|
845
CALL
Perrigo
PRGO
$1.98B
| $7.77M | 0.03% |
+63,000
| New | +$7.86M |
|
|
AHL
846
DELISTED
ASPEN Insurance Holding Limited
AHL
| $7.77M | 0.03% |
214,102
+30,621
| +17% | +$1.13M |
|
847
Steris
STE
$23.2B
| $7.77M | 0.03% |
180,803
+25,422
| +16% | +$1.1M |
|
848
FerroAtlántica
GSM
$757M
| $7.76M | 0.03% |
503,437
+23,146
| +5% | +$296K |
|
849
Enbridge
ENB
$109B
| $7.75M | 0.03% |
185,687
+115,040
| +163% | +$4.9M |
|
850
Microchip Technology
MCHP
$40.3B
| $7.75M | 0.02% |
384,576
+201,332
| +110% | +$3.99M |
|
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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.