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 | |
|---|---|---|---|---|---|---|
|
HMSY
1026
DELISTED
HMS Holdings Corp.
HMSY
| $5.78M | 0.02% |
269,164
+162,330
| +152% | +$3.97M |
|
|
JWN
1027
CALL
DELISTED
Nordstrom
JWN
| $5.78M | 0.02% |
102,900
+2,900
| +3% | +$171K |
|
|
HIMX
1028
Himax Technologies
HIMX
$2.34B
| $5.78M | 0.02% |
577,749
-462,141
| -44% | -$3.29M |
|
1029
Corning
GLW
$125B
| $5.76M | 0.02% |
395,034
-1,110,820
| -74% | -$16.4M |
|
1030
CNA Financial
CNA
$13.4B
| $5.74M | 0.02% |
150,413
-430,730
| -74% | -$15.3M |
|
|
NBL
1031
DELISTED
Noble Energy, Inc.
NBL
| $5.74M | 0.02% |
85,638
+5,084
| +6% | +$326K |
|
|
LM
1032
DELISTED
Legg Mason, Inc.
LM
| $5.73M | 0.02% |
171,341
-10,055
| -6% | -$337K |
|
|
VXX
1033
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $5.73M | 0.02% |
6,089
+4,205
| +223% | +$4.21M |
|
|
XLS
1034
DELISTED
EXELIS INC COM STK
XLS
| $5.71M | 0.02% |
388,947
-427,801
| -52% | -$5.99M |
|
|
INN
1035
Summit Hotel Properties
INN
$662M
| $5.7M | 0.02% |
619,780
+343,561
| +124% | +$3.32M |
|
|
SEE
1036
CALL
DELISTED
Sealed Air
SEE
| $5.7M | 0.02% |
209,500
+68,600
| +49% | +$1.94M |
|
|
VVC
1037
DELISTED
Vectren Corporation
VVC
| $5.68M | 0.02% |
170,320
-103,796
| -38% | -$3.57M |
|
|
PAY
1038
DELISTED
Verifone Systems Inc
PAY
| $5.66M | 0.02% |
247,438
+204,952
| +482% | +$4.09M |
|
1039
Air Products & Chemicals
APD
$68.2B
| $5.64M | 0.02% |
+57,186
| New | +$5.43M |
|
|
HMA
1040
DELISTED
HEALTH MGMT ASSOC INC CL-A
HMA
| $5.64M | 0.02% |
440,485
+280,485
| +175% | +$3.9M |
|
1041
PUT
Deere & Co
DE
$175B
| $5.63M | 0.02% |
69,200
+9,000
| +15% | +$749K |
|
1042
Unisys
UIS
$192M
| $5.63M | 0.02% |
223,592
+173,592
| +347% | +$4.36M |
|
|
CNW
1043
DELISTED
CON-WAY INC.
CNW
| $5.63M | 0.02% |
+130,638
| New | +$5.53M |
|
1044
CALL
Cirrus Logic
CRUS
$5.6B
| $5.62M | 0.02% |
+248,100
| New | +$5.12M |
|
1045
PUT
Oracle
ORCL
$410B
| $5.62M | 0.02% |
+169,500
| New | +$5.5M |
|
|
TWX
1046
DELISTED
Time Warner Inc
TWX
| $5.61M | 0.02% |
88,968
-1,271,944
| -93% | -$76.1M |
|
1047
PUT
Boeing
BA
$166B
| $5.61M | 0.02% |
+47,700
| New | +$5.14M |
|
1048
Carter's
CRI
$1.26B
| $5.61M | 0.02% |
73,862
+43,531
| +144% | +$3.18M |
|
1049
Woodward
WWD
$19.7B
| $5.6M | 0.02% |
137,056
+99,159
| +262% | +$4.07M |
|
|
NILE
1050
DELISTED
Blue Nile, Inc.
NILE
| $5.6M | 0.02% |
136,723
+96,518
| +240% | +$3.72M |
|
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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.