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 | |
|---|---|---|---|---|---|---|
1301
CALL
Constellation Brands
STZ
$23.5B
| $3.62M | 0.01% |
+63,100
| New | +$3.43M |
|
|
BKS
1302
PUT
DELISTED
Barnes & Noble
BKS
| $3.62M | 0.01% |
+427,127
| New | +$4.45M |
|
1303
WisdomTree Japan Hedged Equity Fund
DXJ
$7.22B
| $3.61M | 0.01% |
75,246
+65,037
| +637% | +$3.05M |
|
1304
Mondelez International
MDLZ
$82.6B
| $3.6M | 0.01% |
114,494
-1,603,042
| -93% | -$49.7M |
|
|
CYOU
1305
DELISTED
Changyou.com Limited American Depositary Share
CYOU
| $3.58M | 0.01% |
100,750
-45,076
| -31% | -$1.45M |
|
|
GG
1306
PUT
DELISTED
Goldcorp Inc
GG
| $3.58M | 0.01% |
137,500
-62,500
| -31% | -$1.72M |
|
1307
Biogen
BIIB
$32.2B
| $3.57M | 0.01% |
14,838
-20,853
| -58% | -$4.67M |
|
|
GLBR
1308
DELISTED
Global Brokerage, Inc. Class A Common Stock
GLBR
| $3.56M | 0.01% |
18,043
+669
| +4% | +$120K |
|
1309
Dick's Sporting Goods
DKS
$16.1B
| $3.55M | 0.01% |
66,500
-18,721
| -22% | -$944K |
|
|
BRY
1310
DELISTED
BERRY PETROLEUM CO CL A
BRY
| $3.55M | 0.01% |
82,308
-212,159
| -72% | -$8.84M |
|
|
N
1311
DELISTED
Netsuite Inc
N
| $3.55M | 0.01% |
32,870
+28,728
| +694% | +$2.84M |
|
|
VVUS
1312
DELISTED
Vivus Inc
VVUS
| $3.55M | 0.01% |
+38,126
| New | +$4.76M |
|
|
DFS
1313
CALL
DELISTED
Discover Financial Services
DFS
| $3.54M | 0.01% |
70,000
| – | – |
|
|
CTXS
1314
PUT
DELISTED
Citrix Systems Inc
CTXS
| $3.53M | 0.01% |
+62,790
| New | +$3.51M |
|
1315
Western Union
WU
$2.28B
| $3.53M | 0.01% |
+189,076
| New | +$3.4M |
|
1316
BJ's Restaurants
BJRI
$1.43B
| $3.52M | 0.01% |
122,621
-206,371
| -63% | -$6.98M |
|
1317
RPC Inc
RES
$1.37B
| $3.5M | 0.01% |
226,330
+46,954
| +26% | +$688K |
|
|
TMS
1318
DELISTED
TMS INTERNATIONAL CORP CLASS A COM STK
TMS
| $3.49M | 0.01% |
+200,000
| New | +$3.29M |
|
|
BBT
1319
Beacon Financial Corp
BBT
$2.65B
| $3.48M | 0.01% |
+138,549
| New | +$3.63M |
|
1320
Cameco
CCJ
$44.5B
| $3.48M | 0.01% |
192,526
+176,776
| +1,122% | +$3.55M |
|
|
AWAY
1321
DELISTED
HOMEAWAY INC COM
AWAY
| $3.48M | 0.01% |
124,344
+103,472
| +496% | +$3.21M |
|
1322
Louisiana-Pacific
LPX
$5.08B
| $3.47M | 0.01% |
197,509
-741,506
| -79% | -$12.3M |
|
|
LORL
1323
DELISTED
Loral Space and Communications, Inc.
LORL
| $3.47M | 0.01% |
+51,269
| New | +$3.32M |
|
1324
PUT
Terex
TEX
$7.53B
| $3.46M | 0.01% |
103,000
+500
| +0.5% | +$15.2K |
|
|
TWO
1325
Two Harbors Investment
TWO
$1.28B
| $3.46M | 0.01% |
44,487
+4,606
| +12% | +$362K |
|
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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.