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 | |
|---|---|---|---|---|---|---|
76
T. Rowe Price
TROW
$23.8B
| $49.6M | 0.16% |
689,359
+576,612
| +511% | +$42.7M |
|
|
IPG
77
DELISTED
Interpublic Group of Companies
IPG
| $48.7M | 0.16% |
2,835,113
+2,506,672
| +763% | +$40.4M |
|
78
Flowers Foods
FLO
$1.47B
| $48.5M | 0.16% |
2,261,804
+1,184,391
| +110% | +$26.5M |
|
79
Zions Bancorporation
ZION
$9.95B
| $48.4M | 0.16% |
1,766,814
+1,197,606
| +210% | +$35M |
|
80
Ralph Lauren
RL
$22.2B
| $48.3M | 0.16% |
293,003
+162,529
| +125% | +$28.2M |
|
81
Oil States International
OIS
$522M
| $47.8M | 0.15% |
809,209
-63,856
| -7% | -$3.49M |
|
82
Simon Property Group
SPG
$70.6B
| $47.6M | 0.15% |
341,050
+74,653
| +28% | +$10.8M |
|
83
Perrigo
PRGO
$1.98B
| $47.5M | 0.15% |
384,729
-13,576
| -3% | -$1.69M |
|
84
Agilent Technologies
A
$44.9B
| $47.2M | 0.15% |
1,288,284
-204,568
| -14% | -$6.9M |
|
|
SEMG
85
DELISTED
SEMGROUP CORPORATION
SEMG
| $47M | 0.15% |
824,229
-220,166
| -21% | -$12.2M |
|
86
Citigroup
C
$221B
| $46.9M | 0.15% |
967,444
+396,093
| +69% | +$20M |
|
87
CenterPoint Energy
CNP
$25.5B
| $46.9M | 0.15% |
1,957,710
-993,272
| -34% | -$23.7M |
|
|
TWC
88
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $46.9M | 0.15% |
419,847
+277,868
| +196% | +$31.2M |
|
|
CBST
89
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
| $46.5M | 0.15% |
731,306
+26,622
| +4% | +$1.61M |
|
90
Gen Digital
GEN
$17.3B
| $46.2M | 0.15% |
1,867,353
+1,127,386
| +152% | +$28.3M |
|
91
Incyte
INCY
$25.9B
| $46M | 0.15% |
1,206,605
+402,061
| +50% | +$11.9M |
|
|
XLNX
92
DELISTED
Xilinx Inc
XLNX
| $46M | 0.15% |
981,374
+89,798
| +10% | +$4.04M |
|
|
MJN
93
DELISTED
Mead Johnson Nutrition Company
MJN
| $45.9M | 0.15% |
618,063
+311,447
| +102% | +$23.3M |
|
|
FRX
94
DELISTED
FOREST LABORATORIES INC
FRX
| $45.9M | 0.15% |
1,071,642
-224,689
| -17% | -$9.76M |
|
95
Merck
MRK
$376B
| $45.8M | 0.15% |
1,007,877
-387,648
| -28% | -$17.7M |
|
96
CME Group
CME
$98.9B
| $45.7M | 0.15% |
619,209
+14,353
| +2% | +$1.06M |
|
97
Liberty Global Class A
LBTYA
$3.63B
| $45.7M | 0.15% |
1,397,149
+342,794
| +33% | +$11.1M |
|
98
Allstate
ALL
$64.2B
| $45.6M | 0.15% |
902,962
-677,689
| -43% | -$34.1M |
|
99
Eastman Chemical
EMN
$8.47B
| $45.6M | 0.15% |
585,530
+461,296
| +371% | +$35.5M |
|
100
AbbVie
ABBV
$468B
| $45.6M | 0.15% |
1,018,774
-343,831
| -25% | -$15.2M |
|
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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.