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 | |
|---|---|---|---|---|---|---|
|
HCBK
1651
DELISTED
HUDSON CITY BANCORP INC
HCBK
| $2.09M | 0.01% |
231,422
-133,446
| -37% | -$1.26M |
|
|
SRGA
1652
DELISTED
Surgalign Holdings, Inc. Common Stock
SRGA
| $2.08M | 0.01% |
18,567
+2,504
| +16% | +$284K |
|
1653
Winnebago Industries
WGO
$901M
| $2.08M | 0.01% |
80,056
+58,298
| +268% | +$1.38M |
|
1654
Talphera
TLPH
$63.8M
| $2.08M | 0.01% |
9,625
+8,492
| +750% | +$1.85M |
|
1655
PUT
Xerox
XRX
$387M
| $2.06M | 0.01% |
76,090
-75,710
| -50% | -$1.99M |
|
1656
Fabrinet
FN
$15.5B
| $2.06M | 0.01% |
122,140
+76,902
| +170% | +$1.13M |
|
|
MAKO
1657
DELISTED
MAKO SURGICAL CORP COM
MAKO
| $2.06M | 0.01% |
69,700
-71,845
| -51% | -$1.09M |
|
1658
Ribbon Communications
RBBN
$368M
| $2.06M | 0.01% |
121,993
+9,764
| +9% | +$166K |
|
1659
CALL
Vera Bradley
VRA
$91M
| $2.05M | 0.01% |
+100,000
| New | +$2.14M |
|
|
1660
PUT
Vera Bradley
VRA
$91M
| $2.05M | 0.01% |
+100,000
| New | +$2.14M |
|
|
WRI
1661
DELISTED
Weingarten Realty Investors
WRI
| $2.05M | 0.01% |
70,038
-13,852
| -17% | -$421K |
|
|
CA
1662
DELISTED
CA, Inc.
CA
| $2.05M | 0.01% |
69,237
-13,778
| -17% | -$413K |
|
1663
PetMed Express
PETS
$38.2M
| $2.05M | 0.01% |
+125,694
| New | +$1.96M |
|
1664
CALL
Berkshire Hathaway Class B
BRK.B
$1.08T
| $2.04M | 0.01% |
+18,000
| New | +$2.08M |
|
1665
Hilltop Holdings
HTH
$2.21B
| $2.04M | 0.01% |
110,128
+28,344
| +35% | +$477K |
|
1666
Alexandria Real Estate Equities
ARE
$9.1B
| $2.04M | 0.01% |
31,887
-56,988
| -64% | -$3.76M |
|
1667
CoStar Group
CSGP
$13.3B
| $2.04M | 0.01% |
121,230
+105,230
| +658% | +$1.61M |
|
|
AKS
1668
CALL
DELISTED
AK Steel Holding Corp
AKS
| $2.03M | 0.01% |
+541,400
| New | +$1.93M |
|
|
BKS
1669
CALL
DELISTED
Barnes & Noble
BKS
| $2.02M | 0.01% |
238,056
+146,191
| +159% | +$1.52M |
|
1670
3D Systems Corp
DDD
$535M
| $2.02M | 0.01% |
37,373
-4,581
| -11% | -$227K |
|
|
AFFX
1671
DELISTED
Affymetrix Inc
AFFX
| $2.01M | 0.01% |
+325,153
| New | +$1.68M |
|
|
PRXL
1672
DELISTED
Parexel International Corp
PRXL
| $2M | 0.01% |
39,801
-7,116
| -15% | -$348K |
|
1673
Cooper Companies
COO
$14.2B
| $2M | 0.01% |
61,588
-189,500
| -75% | -$6.11M |
|
|
SE
1674
CALL
DELISTED
Spectra Energy Corp Wi
SE
| $2M | 0.01% |
58,300
-26,700
| -31% | -$923K |
|
1675
Unifirst Corp
UNF
$5.21B
| $1.99M | 0.01% |
19,008
+9,394
| +98% | +$928K |
|
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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.