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 | |
|---|---|---|---|---|---|---|
|
ULTI
951
DELISTED
Ultimate Software Group Inc
ULTI
| $6.64M | 0.02% |
45,037
-11,160
| -20% | -$1.55M |
|
952
United Airlines
UAL
$36.9B
| $6.63M | 0.02% |
216,054
-179,702
| -45% | -$5.78M |
|
|
DST
953
DELISTED
DST Systems Inc.
DST
| $6.63M | 0.02% |
175,856
-1,062,898
| -86% | -$38.4M |
|
954
Cytokinetics
CYTK
$10.7B
| $6.56M | 0.02% |
867,060
+455,957
| +111% | +$4.89M |
|
955
CALL
Macy's
M
$6.1B
| $6.56M | 0.02% |
151,700
-13,300
| -8% | -$621K |
|
|
LIN
956
DELISTED
LIN MEDIA LLC CLASS A COM
LIN
| $6.56M | 0.02% |
+323,423
| New | +$5.42M |
|
|
SNTS
957
DELISTED
SANTARUS INC
SNTS
| $6.55M | 0.02% |
289,990
-437,090
| -60% | -$10.4M |
|
958
Sarepta Therapeutics
SRPT
$1.92B
| $6.54M | 0.02% |
138,530
+127,530
| +1,159% | +$4.91M |
|
|
959
PUT
Macy's
M
$6.1B
| $6.54M | 0.02% |
151,100
+1,100
| +0.7% | +$51.4K |
|
|
RBS.PRQ
960
DELISTED
ROYAL BANK OF SCOTLAND GP PLC (THE) ADR REPSTG PFD SHS SER Q
RBS.PRQ
| $6.53M | 0.02% |
+298,392
| New | +$6.4M |
|
961
Post Holdings
POST
$3.73B
| $6.51M | 0.02% |
246,517
+76,452
| +45% | +$2.23M |
|
|
GG
962
DELISTED
Goldcorp Inc
GG
| $6.51M | 0.02% |
250,408
-460,372
| -65% | -$12.7M |
|
|
YGE
963
DELISTED
Yingli Green Energy Holding Comp
YGE
| $6.46M | 0.02% |
+93,084
| New | +$4.18M |
|
|
EXPR
964
DELISTED
Express, Inc.
EXPR
| $6.44M | 0.02% |
13,646
-2,172
| -14% | -$959K |
|
965
Southern Copper
SCCO
$181B
| $6.43M | 0.02% |
257,871
-35,351
| -12% | -$903K |
|
966
Expedia Group
EXPE
$40.7B
| $6.43M | 0.02% |
124,184
+61,672
| +99% | +$3.3M |
|
967
World Kinect Corp
WKC
$1.82B
| $6.43M | 0.02% |
172,434
+160,780
| +1,380% | +$6.19M |
|
968
PUT
GSK
GSK
$104B
| $6.42M | 0.02% |
+102,400
| New | +$6.59M |
|
969
M/I Homes
MHO
$3.84B
| $6.42M | 0.02% |
311,339
-43,320
| -12% | -$909K |
|
970
ON Semiconductor
ON
$28B
| $6.4M | 0.02% |
875,304
+38,690
| +5% | +$297K |
|
|
CELGZ
971
DELISTED
Celgene Corporation Contingent Value Rights
CELGZ
| $6.39M | 0.02% |
795,078
+316,720
| +66% | +$2.44M |
|
972
State Street Financial Select Sector SPDR ETF
XLF
$56.8B
| $6.39M | 0.02% |
365,445
+83,855
| +30% | +$1.49M |
|
973
Omeros
OMER
$1.4B
| $6.38M | 0.02% |
654,712
-611,381
| -48% | -$3.65M |
|
|
ICON
974
DELISTED
Iconix Brand Group, Inc.
ICON
| $6.38M | 0.02% |
19,185
+18,456
| +2,532% | +$6.04M |
|
|
HIG.WS
975
DELISTED
Hartford Financial Services Grp
HIG.WS
| $6.37M | 0.02% |
285,000
| – | – |
|
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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.