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 | |
|---|---|---|---|---|---|---|
1801
ATI
ATI
$29.3B
| $1.63M | 0.01% |
53,383
+31,683
| +146% | +$887K |
|
|
DRTX
1802
DELISTED
DURATA THERAPEUTICS INC COM STK (DE)
DRTX
| $1.63M | 0.01% |
+180,175
| New | +$1.49M |
|
1803
ABM Industries
ABM
$2.73B
| $1.63M | 0.01% |
61,170
-36,052
| -37% | -$923K |
|
1804
TETRA Technologies
TTI
$1B
| $1.63M | 0.01% |
129,826
-629,232
| -83% | -$7.18M |
|
|
SHOR
1805
DELISTED
ShoreTel, Inc.
SHOR
| $1.63M | 0.01% |
269,410
+205,890
| +324% | +$980K |
|
|
CLD
1806
DELISTED
Cloud Peak Energy Inc
CLD
| $1.63M | 0.01% |
110,833
+40,626
| +58% | +$652K |
|
|
TIF
1807
CALL
DELISTED
Tiffany & Co.
TIF
| $1.62M | 0.01% |
+21,200
| New | +$1.67M |
|
1808
Bristol-Myers Squibb
BMY
$139B
| $1.62M | 0.01% |
35,000
-285,781
| -89% | -$12.5M |
|
|
GCVRZ
1809
DELISTED
Sanofi Contingent Value Rights
GCVRZ
| $1.62M | 0.01% |
799,900
-114,244
| -12% | -$218K |
|
1810
CALL
Owens Corning
OC
$11.6B
| $1.61M | 0.01% |
42,400
-4,900
| -10% | -$191K |
|
|
WPRT
1811
Westport Fuel Systems
WPRT
$35M
| $1.61M | 0.01% |
6,638
+5,745
| +643% | +$1.68M |
|
1812
PUT
Dollar General
DG
$27B
| $1.6M | 0.01% |
+28,400
| New | +$1.56M |
|
1813
Digital Turbine
APPS
$1.31B
| $1.6M | 0.01% |
+600,000
| New | +$1.94M |
|
1814
CALL
Compass Minerals
CMP
$1.03B
| $1.6M | 0.01% |
+21,000
| New | +$1.67M |
|
1815
PUT
JPMorgan Chase
JPM
$948B
| $1.6M | 0.01% |
+31,000
| New | +$1.66M |
|
1816
Quantum Corp
QMCO
$882M
| $1.6M | 0.01% |
7,226
-1,597
| -18% | -$391K |
|
|
AMRN
1817
CALL
Amarin Corp
AMRN
$299M
| $1.59M | 0.01% |
+12,615
| New | +$1.51M |
|
|
CNVR
1818
CALL
DELISTED
CONVERSANT INC COM STK (DE)
CNVR
| $1.59M | 0.01% |
+76,200
| New | +$1.73M |
|
1819
Itaú Unibanco
ITUB
$84.4B
| $1.59M | 0.01% |
308,428
+94,186
| +44% | +$442K |
|
1820
Myers Industries
MYE
$1.23B
| $1.58M | 0.01% |
78,791
+48,591
| +161% | +$906K |
|
1821
CALL
Stryker
SYK
$127B
| $1.58M | 0.01% |
+23,400
| New | +$1.62M |
|
|
PGTI
1822
DELISTED
PGT, Inc.
PGTI
| $1.58M | 0.01% |
+159,457
| New | +$1.61M |
|
1823
Huron Consulting
HURN
$2.53B
| $1.58M | 0.01% |
29,978
+14,132
| +89% | +$696K |
|
1824
Pan American Silver
PAAS
$22.5B
| $1.58M | 0.01% |
+149,434
| New | +$1.82M |
|
1825
PUT
Dominion Energy
D
$58.9B
| $1.57M | 0.01% |
25,200
+5,200
| +26% | +$308K |
|
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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.