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 | |
|---|---|---|---|---|---|---|
1101
Berkshire Hathaway Class A
BRK.A
$1.08T
| $5.11M | 0.02% |
30
+2
| +7% | +$346K |
|
|
MSCC
1102
DELISTED
Microsemi Corp
MSCC
| $5.1M | 0.02% |
+210,387
| New | +$5.28M |
|
|
SCHW
1103
CALL
Charles Schwab
SCHW
$197B
| $5.09M | 0.02% |
240,600
+600
| +0.3% | +$13K |
|
1104
U-Haul Holding Co
UHAL
$13.8B
| $5.07M | 0.02% |
275,350
+162,680
| +144% | +$2.81M |
|
1105
Warner Bros
WBD
$72B
| $5.07M | 0.02% |
117,494
+102,229
| +670% | +$4.25M |
|
|
QIHU
1106
PUT
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
| $5.07M | 0.02% |
+60,900
| New | +$4.28M |
|
|
X
1107
DELISTED
US Steel
X
| $5.07M | 0.02% |
246,041
+127,909
| +108% | +$2.41M |
|
1108
Asbury Automotive
ABG
$3.79B
| $5.07M | 0.02% |
95,211
-20,348
| -18% | -$999K |
|
|
AXLL
1109
CALL
DELISTED
AXIALL CORP COM STK (DE)
AXLL
| $5.06M | 0.02% |
133,900
+1,100
| +0.8% | +$45.9K |
|
|
PCH
1110
DELISTED
PotlatchDeltic
PCH
| $5.06M | 0.02% |
127,439
+2,852
| +2% | +$117K |
|
1111
UGI
UGI
$8.19B
| $5.05M | 0.02% |
193,589
+182,670
| +1,673% | +$4.9M |
|
|
NUVA
1112
DELISTED
NuVasive, Inc.
NUVA
| $5.05M | 0.02% |
206,227
+204,372
| +11,017% | +$5.03M |
|
1113
PennantPark Floating Rate Capital
PFLT
$740M
| $5.05M | 0.02% |
366,322
+178,448
| +95% | +$2.46M |
|
1114
CALL
AB InBev
BUD
$156B
| $5.04M | 0.02% |
+50,800
| New | +$4.84M |
|
|
MBT
1115
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
| $5.04M | 0.02% |
226,271
+214,092
| +1,758% | +$4.41M |
|
1116
Prestige Consumer Healthcare
PBH
$2.46B
| $5.02M | 0.02% |
166,652
-49,139
| -23% | -$1.61M |
|
1117
Crocs
CROX
$6.03B
| $5.01M | 0.02% |
368,574
+169,323
| +85% | +$2.46M |
|
|
TSRO
1118
DELISTED
TESARO, Inc.
TSRO
| $5.01M | 0.02% |
129,357
-126,753
| -49% | -$4.64M |
|
1119
PUT
VanEck Gold Miners ETF
GDX
$32.2B
| $5M | 0.02% |
+200,000
| New | +$5.32M |
|
1120
Commault Systems
CVLT
$5.43B
| $4.98M | 0.02% |
56,644
+43,768
| +340% | +$3.67M |
|
1121
MGM Resorts International
MGM
$11B
| $4.97M | 0.02% |
243,326
-1,387,410
| -85% | -$24.2M |
|
1122
Roper Technologies
ROP
$41.1B
| $4.97M | 0.02% |
37,395
-142,114
| -79% | -$18.3M |
|
1123
Cisco
CSCO
$434B
| $4.94M | 0.02% |
210,896
-1,065,555
| -83% | -$26.5M |
|
|
DFRG
1124
DELISTED
Del Frisco's Restaurant Group, Inc. Common Stock
DFRG
| $4.94M | 0.02% |
245,119
+94,363
| +63% | +$1.94M |
|
1125
Canadian Pacific Kansas City
CP
$83.2B
| $4.94M | 0.02% |
+200,180
| New | +$4.95M |
|
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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.