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 | |
|---|---|---|---|---|---|---|
1176
Pitney Bowes
PBI
$2.27B
| $4.55M | 0.01% |
250,406
+90,395
| +56% | +$1.48M |
|
1177
PUT
Valero Energy
VLO
$99.6B
| $4.51M | 0.01% |
132,000
+91,700
| +228% | +$3.24M |
|
|
PCYC
1178
DELISTED
PHARMACYCLICS INC
PCYC
| $4.5M | 0.01% |
32,554
-40,866
| -56% | -$4.53M |
|
1179
CALL
FedEx
FDX
$79.1B
| $4.5M | 0.01% |
+39,400
| New | +$4.25M |
|
|
OPEN
1180
CALL
DELISTED
OPENTABLE,INC COMMON STOCK
OPEN
| $4.49M | 0.01% |
64,200
+39,200
| +157% | +$2.74M |
|
1181
Iron Mountain
IRM
$36.1B
| $4.49M | 0.01% |
179,743
-75,245
| -30% | -$1.91M |
|
|
AMTG
1182
DELISTED
APOLLO RESIDENTIAL MTG INC COM STK
AMTG
| $4.49M | 0.01% |
307,649
-252,903
| -45% | -$3.92M |
|
1183
CALL
Abercrombie & Fitch
ANF
$4.99B
| $4.49M | 0.01% |
+126,800
| New | +$5.61M |
|
1184
Oaktree Specialty Lending
OCSL
$1.16B
| $4.47M | 0.01% |
144,775
+96,114
| +198% | +$3.05M |
|
1185
CALL
TripAdvisor
TRIP
$1.19B
| $4.47M | 0.01% |
58,900
+700
| +1% | +$49.6K |
|
|
XNPT
1186
DELISTED
XENOPORT, INC.
XNPT
| $4.45M | 0.01% |
783,901
+712,111
| +992% | +$3.72M |
|
1187
CALL
Micron Technology
MU
$1.03T
| $4.44M | 0.01% |
+254,200
| New | +$3.69M |
|
1188
PUT
Procter & Gamble
PG
$341B
| $4.44M | 0.01% |
58,700
| – | – |
|
|
TIVO
1189
DELISTED
Tivo Inc
TIVO
| $4.43M | 0.01% |
231,293
+175,163
| +312% | +$3.5M |
|
1190
Autodesk
ADSK
$53.7B
| $4.42M | 0.01% |
107,243
-17,027
| -14% | -$629K |
|
1191
Bloomin' Brands
BLMN
$980M
| $4.41M | 0.01% |
186,800
+134,731
| +259% | +$3.23M |
|
1192
Zebra Technologies
ZBRA
$17.2B
| $4.41M | 0.01% |
96,796
-31,749
| -25% | -$1.46M |
|
1193
PUT
Target
TGT
$77.2B
| $4.41M | 0.01% |
68,900
+3,900
| +6% | +$266K |
|
1194
Consumer Portfolio Services
CPSS
$197M
| $4.4M | 0.01% |
742,235
-25,092
| -3% | -$159K |
|
|
SEE
1195
DELISTED
Sealed Air
SEE
| $4.4M | 0.01% |
161,667
-106,161
| -40% | -$3.01M |
|
1196
Spire
SR
$4.87B
| $4.38M | 0.01% |
97,361
-147,612
| -60% | -$6.67M |
|
|
SFY
1197
DELISTED
SWIFT ENERGY CO (HOLDING COMPANY)
SFY
| $4.38M | 0.01% |
383,538
-337,826
| -47% | -$4.05M |
|
1198
Progress Software
PRGS
$1.78B
| $4.37M | 0.01% |
168,993
+95,801
| +131% | +$2.4M |
|
1199
First Financial Bancorp
FFBC
$3.46B
| $4.35M | 0.01% |
286,962
+219,485
| +325% | +$3.45M |
|
1200
Alnylam Pharmaceuticals
ALNY
$31.6B
| $4.35M | 0.01% |
+67,973
| New | +$3.39M |
|
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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.