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 | |
|---|---|---|---|---|---|---|
151
Apple
AAPL
$4.51T
| $35.9M | 0.12% |
2,110,332
+902,132
| +75% | +$15M |
|
152
Methanex
MEOH
$4.65B
| $35.7M | 0.12% |
696,483
+88,485
| +15% | +$4.21M |
|
|
TSS
153
DELISTED
Total System Services, Inc.
TSS
| $35.7M | 0.11% |
1,213,185
-668,005
| -36% | -$18.4M |
|
154
DuPont de Nemours
DD
$18.7B
| $35.7M | 0.11% |
366,763
+210,481
| +135% | +$19.6M |
|
155
Booking.com
BKNG
$158B
| $35.6M | 0.11% |
880,350
+273,350
| +45% | +$10.2M |
|
156
Honeywell
HON
$68.4B
| $35.6M | 0.11% |
476,905
+431,301
| +946% | +$32M |
|
|
SKX
157
DELISTED
Skechers
SKX
| $35.5M | 0.11% |
3,426,252
+2,469,642
| +258% | +$23.5M |
|
158
CALL
State Street Energy Select Sector SPDR ETF
XLE
$41.7B
| $35.4M | 0.11% |
854,000
-1,596,800
| -65% | -$65.8M |
|
159
Urban Outfitters
URBN
$6.36B
| $35.3M | 0.11% |
959,043
+289,989
| +43% | +$11.9M |
|
160
Estee Lauder
EL
$36.9B
| $35.2M | 0.11% |
503,147
+313,496
| +165% | +$21.2M |
|
161
Johnson Controls International
JCI
$86.7B
| $35M | 0.11% |
806,134
-196,467
| -20% | -$8.33M |
|
162
Equifax
EFX
$22.6B
| $35M | 0.11% |
585,087
+426,125
| +268% | +$26.2M |
|
163
Occidental Petroleum
OXY
$61.3B
| $34.9M | 0.11% |
389,109
-422,210
| -52% | -$36.3M |
|
164
Huntsman Corp
HUN
$1.75B
| $34.5M | 0.11% |
1,675,228
-146,168
| -8% | -$2.67M |
|
165
CALL
Lowe's Companies
LOW
$121B
| $34.5M | 0.11% |
723,900
+173,400
| +31% | +$7.87M |
|
|
CFN
166
DELISTED
CAREFUSION CORPORATION
CFN
| $34.4M | 0.11% |
931,996
+161,052
| +21% | +$6.01M |
|
|
TEG
167
DELISTED
INTEGRYS ENERGY GROUP INC COM (USA)
TEG
| $34.4M | 0.11% |
615,320
+581,719
| +1,731% | +$34.2M |
|
168
Micron Technology
MU
$1.09T
| $34M | 0.11% |
1,945,575
+744,595
| +62% | +$10.8M |
|
169
Scorpio Tankers
STNG
$3.93B
| $33.9M | 0.11% |
347,718
+62,568
| +22% | +$6.18M |
|
|
DFS
170
DELISTED
Discover Financial Services
DFS
| $33.9M | 0.11% |
670,143
-1,384,298
| -67% | -$69.3M |
|
|
CIT
171
DELISTED
CIT Group Inc.
CIT
| $33.8M | 0.11% |
692,989
-332,825
| -32% | -$16.3M |
|
172
Marriott International
MAR
$92.9B
| $33.8M | 0.11% |
802,836
+530,436
| +195% | +$22M |
|
173
D.R. Horton
DHI
$41.5B
| $33.7M | 0.11% |
1,734,735
+572,187
| +49% | +$11.3M |
|
|
174
Starwood Property Trust
STWD
$6.06B
| $33.6M | 0.11% |
1,736,801
-3,595,068
| -67% | -$72.3M |
|
|
HLSS
175
DELISTED
HOME LN SERVICING SOLUTIONS LTD(CAYMAN ISLANDS)
HLSS
| $33.3M | 0.11% |
1,512,789
+65,215
| +5% | +$1.55M |
|
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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.