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 | |
|---|---|---|---|---|---|---|
|
ASIA
876
DELISTED
ASIAINFO-LINKAGE INC COM STK (DE)
ASIA
| $7.5M | 0.02% |
+650,000
| New | +$7.52M |
|
|
CVD
877
DELISTED
COVANCE INC.
CVD
| $7.49M | 0.02% |
+86,624
| New | +$7.13M |
|
|
AVP
878
DELISTED
Avon Products, Inc.
AVP
| $7.47M | 0.02% |
362,721
-218,216
| -38% | -$4.67M |
|
|
SIR
879
DELISTED
SELECT INCOME REIT
SIR
| $7.47M | 0.02% |
658,299
+607,319
| +1,191% | +$6.91M |
|
|
KYTH
880
DELISTED
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
| $7.46M | 0.02% |
163,592
+88,482
| +118% | +$2.65M |
|
881
Diamondrock Hospitality Co
DRH
$2.61B
| $7.45M | 0.02% |
697,708
+77,684
| +13% | +$777K |
|
|
HCC
882
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
| $7.44M | 0.02% |
169,838
+100,803
| +146% | +$4.44M |
|
883
Smith & Wesson
SWBI
$612M
| $7.43M | 0.02% |
879,977
+196,203
| +29% | +$1.7M |
|
|
VRE
884
DELISTED
Veris Residential
VRE
| $7.43M | 0.02% |
338,675
+201,600
| +147% | +$4.59M |
|
885
Illinois Tool Works
ITW
$80.9B
| $7.42M | 0.02% |
97,336
+77,273
| +385% | +$5.65M |
|
886
United States Oil Fund
USO
$2.07B
| $7.42M | 0.02% |
25,184
+23,494
| +1,390% | +$7.08M |
|
|
AXLL
887
DELISTED
AXIALL CORP COM STK (DE)
AXLL
| $7.38M | 0.02% |
195,332
+120,440
| +161% | +$5.03M |
|
888
CSX Corp
CSX
$95.3B
| $7.38M | 0.02% |
859,869
+122,505
| +17% | +$1.03M |
|
|
HAWK
889
DELISTED
Blackhawk Network Holdings, Inc. Common Stock
HAWK
| $7.37M | 0.02% |
306,671
+85,960
| +39% | +$2.12M |
|
890
Assurant
AIZ
$14.2B
| $7.35M | 0.02% |
135,882
-207,391
| -60% | -$11.2M |
|
891
Flex
FLEX
$39.4B
| $7.35M | 0.02% |
1,073,159
+635,619
| +145% | +$4.19M |
|
|
LUMO
892
DELISTED
Lumos Pharma, Inc. Common Stock
LUMO
| $7.35M | 0.02% |
43,488
+33,283
| +326% | +$5.36M |
|
893
CALL
UGI
UGI
$8.19B
| $7.34M | 0.02% |
281,550
-323,100
| -53% | -$8.66M |
|
894
CALL
Williams Companies
WMB
$86.8B
| $7.32M | 0.02% |
+201,400
| New | +$7.06M |
|
895
CALL
Corning
GLW
$125B
| $7.3M | 0.02% |
+500,300
| New | +$7.41M |
|
|
QVCGA
896
DELISTED
QVC Group Inc Series A
QVCGA
| $7.29M | 0.02% |
7,559
-13,428
| -64% | -$13.1M |
|
897
Marriott Vacations Worldwide
VAC
$3.93B
| $7.28M | 0.02% |
165,404
+1,788
| +1% | +$79.7K |
|
898
KBR
KBR
$4.75B
| $7.26M | 0.02% |
222,578
+6,192
| +3% | +$196K |
|
899
American Express
AXP
$228B
| $7.24M | 0.02% |
95,916
+10,792
| +13% | +$812K |
|
|
MDAS
900
DELISTED
MEDASSETS INC COM STK (DE)
MDAS
| $7.24M | 0.02% |
284,920
-381,467
| -57% | -$8.53M |
|
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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.