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 | |
|---|---|---|---|---|---|---|
1626
Enpro
NPO
$6.42B
| $2.19M | 0.01% |
36,452
-6,425
| -15% | -$372K |
|
|
FEIC
1627
DELISTED
FEI COMPANY
FEIC
| $2.19M | 0.01% |
+25,000
| New | +$1.99M |
|
1628
PUT
Berkshire Hathaway Class B
BRK.B
$1.08T
| $2.19M | 0.01% |
+19,300
| New | +$2.23M |
|
|
GES
1629
DELISTED
Guess Inc
GES
| $2.19M | 0.01% |
+73,385
| New | +$2.29M |
|
1630
Sonic Automotive
SAH
$2.43B
| $2.18M | 0.01% |
91,740
-16,311
| -15% | -$375K |
|
1631
SK Telecom
SKM
$15.2B
| $2.17M | 0.01% |
+58,137
| New | +$2.07M |
|
1632
Arrow Electronics
ARW
$10.3B
| $2.17M | 0.01% |
+44,719
| New | +$2.05M |
|
|
FLTX
1633
DELISTED
Fleetmatics Group PLC
FLTX
| $2.17M | 0.01% |
+57,735
| New | +$2.32M |
|
1634
PUT
Teva Pharmaceuticals
TEVA
$44.4B
| $2.17M | 0.01% |
57,300
-15,300
| -21% | -$597K |
|
|
GTIV
1635
DELISTED
GENTIVA HEALTH SERVICES INC
GTIV
| $2.16M | 0.01% |
179,524
+139,624
| +350% | +$1.58M |
|
1636
CALL
Dollar General
DG
$27B
| $2.16M | 0.01% |
38,200
-72,700
| -66% | -$4M |
|
1637
CALL
Nike
NKE
$58.6B
| $2.16M | 0.01% |
59,400
+3,000
| +5% | +$98K |
|
1638
Diodes
DIOD
$4.28B
| $2.14M | 0.01% |
+87,515
| New | +$2.27M |
|
1639
Northwest Bancshares
NWBI
$2.24B
| $2.14M | 0.01% |
162,299
+110,871
| +216% | +$1.53M |
|
1640
Horace Mann Educators
HMN
$2.07B
| $2.14M | 0.01% |
75,493
+22,998
| +44% | +$629K |
|
1641
CALL
Masco
MAS
$14.4B
| $2.14M | 0.01% |
+114,255
| New | +$2.03M |
|
|
AH
1642
DELISTED
Accretive Health
AH
| $2.14M | 0.01% |
234,214
+157,588
| +206% | +$1.57M |
|
1643
Toll Brothers
TOL
$13.9B
| $2.13M | 0.01% |
65,595
-67,307
| -51% | -$2.18M |
|
|
ASTX
1644
PUT
DELISTED
ASTEX PHARMACEUTICALS, INC COM
ASTX
| $2.12M | 0.01% |
+250,000
| New | +$1.58M |
|
1645
SFL Corp
SFL
$1.63B
| $2.12M | 0.01% |
+138,722
| New | +$2.17M |
|
|
ARRS
1646
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $2.12M | 0.01% |
124,157
-289,552
| -70% | -$4.6M |
|
|
CJES
1647
DELISTED
C&J ENERGY SVCS LTD
CJES
| $2.12M | 0.01% |
+105,382
| New | +$2.17M |
|
|
ARG
1648
DELISTED
Airgas Inc
ARG
| $2.11M | 0.01% |
19,928
-162,141
| -89% | -$16.7M |
|
1649
Darling Ingredients
DAR
$9.88B
| $2.11M | 0.01% |
99,754
-56,229
| -36% | -$1.15M |
|
1650
Calix
CALX
$2.51B
| $2.1M | 0.01% |
164,823
-303,066
| -65% | -$3.71M |
|
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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.