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 | |
|---|---|---|---|---|---|---|
101
PUT
Meta Platforms (Facebook)
META
$1.4T
| $45.5M | 0.15% |
904,900
+70,500
| +8% | +$2.62M |
|
|
TXNM
102
TXNM Energy Inc
TXNM
$5.9B
| $45.1M | 0.15% |
1,992,861
-198,874
| -9% | -$4.52M |
|
|
WCRX
103
DELISTED
WARNER CHILCOTT PLC ORD SHS CL A (IRL)
WCRX
| $44.4M | 0.14% |
1,934,690
-516,854
| -21% | -$10.9M |
|
104
TE Connectivity
TEL
$58.9B
| $44M | 0.14% |
848,955
+457,335
| +117% | +$22.9M |
|
105
KB Home
KBH
$3.39B
| $43.5M | 0.14% |
2,411,760
+2,048,252
| +563% | +$35.8M |
|
106
Lennar Class A
LEN
$21B
| $43.3M | 0.14% |
1,283,875
-54,127
| -4% | -$1.76M |
|
|
VSI
107
DELISTED
Vitamin Shoppe Inc.
VSI
| $43.2M | 0.14% |
986,584
+669,271
| +211% | +$29.6M |
|
108
Advance Auto Parts
AAP
$2.57B
| $43.1M | 0.14% |
520,968
+1,787
| +0.3% | +$146K |
|
109
Intuitive Surgical
ISRG
$134B
| $43M | 0.14% |
1,028,664
+1,004,904
| +4,229% | +$44.4M |
|
|
GAP
110
The Gap Inc
GAP
$7.13B
| $42.8M | 0.14% |
1,061,990
+948,187
| +833% | +$40.9M |
|
|
WNR
111
DELISTED
Western Refining Inc
WNR
| $42.6M | 0.14% |
1,417,053
+119,633
| +9% | +$3.52M |
|
112
PUT
Cleveland-Cliffs
CLF
$6.43B
| $42.2M | 0.14% |
2,060,700
+1,482,900
| +257% | +$30.5M |
|
113
CALL
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $41.8M | 0.13% |
2,394,485
-443,697
| -16% | -$7.87M |
|
|
ALXN
114
DELISTED
Alexion Pharmaceuticals
ALXN
| $41.8M | 0.13% |
359,523
-227,212
| -39% | -$24.9M |
|
115
Altria Group
MO
$110B
| $41.7M | 0.13% |
1,214,664
+379,828
| +45% | +$13.4M |
|
116
Union Pacific
UNP
$183B
| $41.6M | 0.13% |
535,266
+337,096
| +170% | +$26.6M |
|
117
CALL
Merck
MRK
$376B
| $41.4M | 0.13% |
911,236
+598,513
| +191% | +$27.3M |
|
118
American Tower
AMT
$81.9B
| $41.3M | 0.13% |
557,398
+163,347
| +41% | +$11.8M |
|
|
OPLN
119
Openlane
OPLN
$4.08B
| $41.1M | 0.13% |
3,847,896
+2,695,818
| +234% | +$26.9M |
|
120
Zimmer Biomet
ZBH
$19.3B
| $40.8M | 0.13% |
511,382
+211,471
| +71% | +$16.6M |
|
121
MetLife
MET
$60B
| $40.8M | 0.13% |
974,337
-14,971
| -2% | -$645K |
|
122
Groupon
GRPN
$797M
| $40.4M | 0.13% |
179,957
+130,045
| +261% | +$25.9M |
|
|
WBS
123
DELISTED
Webster Financial
WBS
| $40.1M | 0.13% |
1,570,261
+171,256
| +12% | +$4.56M |
|
|
YHOO
124
DELISTED
Yahoo Inc
YHOO
| $39.9M | 0.13% |
1,203,729
-1,571,536
| -57% | -$44.4M |
|
|
SGY
125
DELISTED
Stone Energy
SGY
| $39.5M | 0.13% |
21,464
-18,953
| -47% | -$29.5M |
|
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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.