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 | |
|---|---|---|---|---|---|---|
|
GDP
901
DELISTED
GOODRICH PETROLEUM CORP(NEW)
GDP
| $7.22M | 0.02% |
297,079
-20,925
| -7% | -$421K |
|
902
Assured Guaranty
AGO
$3.26B
| $7.2M | 0.02% |
383,754
+87,533
| +30% | +$1.85M |
|
|
PVTB
903
DELISTED
PrivateBancorp Inc
PVTB
| $7.19M | 0.02% |
335,923
+322,423
| +2,388% | +$7.38M |
|
904
PUT
Fluor
FLR
$6.86B
| $7.18M | 0.02% |
+101,200
| New | +$6.56M |
|
905
Brown-Forman Class B
BF.B
$13.2B
| $7.17M | 0.02% |
328,997
+260,900
| +383% | +$5.88M |
|
906
Skyworks Solutions
SWKS
$10.1B
| $7.17M | 0.02% |
288,749
-36,631
| -11% | -$890K |
|
|
VRNT
907
DELISTED
Verint Systems
VRNT
| $7.17M | 0.02% |
379,917
+112,407
| +42% | +$2.06M |
|
|
SDRL
908
DELISTED
Seadrill Limited Common Stock
SDRL
| $7.16M | 0.02% |
+593
| New | +$7.01M |
|
|
DTV
909
CALL
DELISTED
DIRECTV COM STK (DE)
DTV
| $7.16M | 0.02% |
+119,700
| New | +$7.37M |
|
910
Northern Trust
NTRS
$34.2B
| $7.13M | 0.02% |
131,123
-311,199
| -70% | -$17.9M |
|
|
HOLX
911
DELISTED
Hologic
HOLX
| $7.13M | 0.02% |
345,137
-35,647
| -9% | -$759K |
|
|
GLF
912
DELISTED
GulfMark Offshore, Inc. Common Stock
GLF
| $7.12M | 0.02% |
139,898
+130,617
| +1,407% | +$6.4M |
|
913
Principal Financial Group
PFG
$24B
| $7.11M | 0.02% |
+166,068
| New | +$6.93M |
|
|
ACC
914
DELISTED
American Campus Communities, Inc.
ACC
| $7.11M | 0.02% |
208,107
-127,311
| -38% | -$4.75M |
|
|
LLTC
915
DELISTED
Linear Technology Corp
LLTC
| $7.1M | 0.02% |
+178,953
| New | +$7.06M |
|
916
PUT
Kohl's
KSS
$2.08B
| $7.09M | 0.02% |
137,100
+87,100
| +174% | +$4.55M |
|
|
TRLA
917
DELISTED
TRULIA INC (DEL)
TRLA
| $7.09M | 0.02% |
+150,746
| New | +$6.31M |
|
|
SAPE
918
DELISTED
SAPIENT CORP
SAPE
| $7.08M | 0.02% |
453,873
+294,669
| +185% | +$4.35M |
|
|
MNTA
919
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $7.06M | 0.02% |
490,708
-100,227
| -17% | -$1.53M |
|
920
CALL
Sarepta Therapeutics
SRPT
$1.92B
| $7.01M | 0.02% |
148,400
+112,400
| +312% | +$4.33M |
|
921
PUT
Intuitive Surgical
ISRG
$132B
| $7M | 0.02% |
167,400
+13,500
| +9% | +$596K |
|
922
PUT
Nike
NKE
$60.5B
| $6.99M | 0.02% |
192,400
+120,200
| +166% | +$3.92M |
|
923
Regeneron Pharmaceuticals
REGN
$85.3B
| $6.94M | 0.02% |
22,172
-111,981
| -83% | -$29.5M |
|
924
ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT
$301M
| $6.93M | 0.02% |
+92,108
| New | +$7.1M |
|
|
ALE
925
DELISTED
Allete
ALE
| $6.91M | 0.02% |
142,957
+71,725
| +101% | +$3.57M |
|
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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.