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 | |
|---|---|---|---|---|---|---|
1676
CALL
Community Health Systems
CYH
$419M
| $1.98M | 0.01% |
+57,838
| New | +$2.05M |
|
1677
Huntington Ingalls Industries
HII
$11.5B
| $1.98M | 0.01% |
+29,407
| New | +$1.88M |
|
1678
PUT
Cirrus Logic
CRUS
$5.58B
| $1.98M | 0.01% |
+87,400
| New | +$1.8M |
|
|
GEVA
1679
CALL
DELISTED
SYNAGEVA BIOPHARMA CORP COM STK (DE)
GEVA
| $1.98M | 0.01% |
+31,200
| New | +$1.54M |
|
|
BCR
1680
DELISTED
CR Bard Inc.
BCR
| $1.98M | 0.01% |
17,158
+16,858
| +5,619% | +$1.93M |
|
|
VPHM
1681
DELISTED
VIROPHARMA INC
VPHM
| $1.98M | 0.01% |
50,301
-119,363
| -70% | -$3.9M |
|
|
TWX
1682
PUT
DELISTED
Time Warner Inc
TWX
| $1.97M | 0.01% |
+31,290
| New | +$1.87M |
|
|
AHT
1683
Ashford Hospitality Trust
AHT
$21.7M
| $1.97M | 0.01% |
255
-97
| -28% | -$722K |
|
1684
PUT
Costco
COST
$426B
| $1.97M | 0.01% |
17,100
+2,100
| +14% | +$242K |
|
|
FIO
1685
CALL
DELISTED
FUSION-IO INC COM
FIO
| $1.97M | 0.01% |
146,800
+6,800
| +5% | +$89.7K |
|
|
DVAX
1686
DELISTED
Dynavax Technologies
DVAX
| $1.97M | 0.01% |
165,102
+26,623
| +19% | +$335K |
|
1687
Coca-Cola
KO
$394B
| $1.97M | 0.01% |
51,875
-21,645
| -29% | -$856K |
|
1688
Baytex Energy
BTE
$3.22B
| $1.96M | 0.01% |
47,509
-554
| -1% | -$22.3K |
|
|
IRF
1689
DELISTED
INTL RECTIFIER CORP
IRF
| $1.96M | 0.01% |
79,167
+18,767
| +31% | +$454K |
|
1690
Novavax
NVAX
$1.56B
| $1.95M | 0.01% |
+31,009
| New | +$1.75M |
|
|
AJRD
1691
DELISTED
Aerojet Rocketdyne Holdings
AJRD
| $1.95M | 0.01% |
121,916
-88,197
| -42% | -$1.45M |
|
|
VG
1692
DELISTED
Vonage Holdings Corporation
VG
| $1.95M | 0.01% |
622,401
+308,562
| +98% | +$969K |
|
|
SAEX
1693
DELISTED
SAExploration Holdings, Inc.
SAEX
| $1.95M | 0.01% |
+76
| New | +$2.03M |
|
1694
New York Times
NYT
$11.1B
| $1.95M | 0.01% |
154,906
+97,675
| +171% | +$1.16M |
|
|
ACH
1695
Accendra Health
ACH
$89.2M
| $1.95M | 0.01% |
56,221
+15,300
| +37% | +$535K |
|
1696
Immersion
IMMR
$254M
| $1.94M | 0.01% |
146,893
+60,270
| +70% | +$827K |
|
|
BGC
1697
DELISTED
General Cable Corporation
BGC
| $1.93M | 0.01% |
60,757
-130,816
| -68% | -$4.1M |
|
1698
PUT
Alphabet (Google) Class C
GOOG
$4.2T
| $1.93M | 0.01% |
88,330
+8,030
| +10% | +$177K |
|
1699
Lockheed Martin
LMT
$128B
| $1.93M | 0.01% |
15,110
-70,908
| -82% | -$8.61M |
|
|
HR
1700
DELISTED
Healthcare Realty Trust Incorporated
HR
| $1.93M | 0.01% |
83,387
+27,579
| +49% | +$671K |
|
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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.