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 | |
|---|---|---|---|---|---|---|
|
BEAM
126
DELISTED
BEAM INC COM STK (DE)
BEAM
| $39.5M | 0.13% |
611,266
+81,456
| +15% | +$5.23M |
|
127
Philip Morris
PM
$293B
| $39.4M | 0.13% |
454,471
-544,185
| -54% | -$47.6M |
|
|
MOLXA
128
DELISTED
MOLEX INC CL-A
MOLXA
| $38.9M | 0.13% |
+1,015,838
| New | +$38.9M |
|
|
CXO
129
DELISTED
CONCHO RESOURCES INC.
CXO
| $38.8M | 0.12% |
+356,258
| New | +$33.9M |
|
130
PNC Financial Services
PNC
$97B
| $38.7M | 0.12% |
534,476
+445,842
| +503% | +$33.3M |
|
131
Keurig Dr Pepper
KDP
$43.6B
| $38.6M | 0.12% |
861,879
-27,571
| -3% | -$1.27M |
|
132
Las Vegas Sands
LVS
$30.5B
| $38.4M | 0.12% |
578,774
-1,120,470
| -66% | -$64.9M |
|
133
State Street
STT
$51.4B
| $38.4M | 0.12% |
583,450
+411,589
| +239% | +$28.2M |
|
|
PETM
134
DELISTED
PETSMART INC
PETM
| $38.4M | 0.12% |
502,938
-158,727
| -24% | -$11.5M |
|
135
PUT
Apple
AAPL
$4.51T
| $38.1M | 0.12% |
2,240,000
+1,302,000
| +139% | +$21.6M |
|
|
PDCE
136
DELISTED
PDC Energy, Inc.
PDCE
| $37.9M | 0.12% |
636,336
+539,285
| +556% | +$30.4M |
|
137
Danaher
DHR
$154B
| $37.2M | 0.12% |
799,402
+315,425
| +65% | +$14.3M |
|
138
Ford
F
$57.5B
| $37.2M | 0.12% |
2,203,816
+1,269,518
| +136% | +$21.4M |
|
139
Northrop Grumman
NOC
$78.3B
| $37.2M | 0.12% |
390,109
+201,872
| +107% | +$18.7M |
|
|
NPSP
140
DELISTED
NPS PHARMACEUTICALS INC
NPSP
| $37.1M | 0.12% |
1,167,189
-381,529
| -25% | -$8.75M |
|
141
Eaton
ETN
$163B
| $37.1M | 0.12% |
538,578
+117,823
| +28% | +$7.91M |
|
|
PACW
142
DELISTED
PacWest Bancorp
PACW
| $37.1M | 0.12% |
+1,080,897
| New | +$36.6M |
|
|
MHR
143
DELISTED
MAGNUM HUNTER RESOURCES CORP (DEL)
MHR
| $37M | 0.12% |
6,000,062
-912,565
| -13% | -$4.13M |
|
144
Edwards Lifesciences
EW
$51.8B
| $36.9M | 0.12% |
3,177,744
+2,906,430
| +1,071% | +$34M |
|
145
Arthur J. Gallagher & Co
AJG
$67.6B
| $36.8M | 0.12% |
843,469
+317,886
| +60% | +$14M |
|
146
Labcorp
LH
$27.3B
| $36.3M | 0.12% |
+426,769
| New | +$35.9M |
|
|
RAD
147
DELISTED
Rite Aid Corporation
RAD
| $36.3M | 0.12% |
381,669
+68,070
| +22% | +$4.64M |
|
148
Walt Disney
DIS
$186B
| $36.3M | 0.12% |
+562,730
| New | +$36.1M |
|
149
Bread Financial
BFH
$4.07B
| $36.2M | 0.12% |
214,659
-195,424
| -48% | -$31M |
|
150
iShares 1-3 Year Treasury Bond ETF
SHY
$25.5B
| $36M | 0.12% |
425,610
+20,860
| +5% | +$1.76M |
|
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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.