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 | |
|---|---|---|---|---|---|---|
|
RAX
1901
DELISTED
Rackspace Hosting Inc
RAX
| $1.39M | ﹤0.01% |
+26,320
| New | +$1.22M |
|
1902
Weyerhaeuser
WY
$17.4B
| $1.39M | ﹤0.01% |
48,370
-437,401
| -90% | -$12.4M |
|
1903
Provident Financial Services
PFS
$3.07B
| $1.38M | ﹤0.01% |
85,407
+48,499
| +131% | +$819K |
|
1904
Dana Inc
DAN
$3.24B
| $1.38M | ﹤0.01% |
60,487
-573,848
| -90% | -$12.4M |
|
1905
Liberty Media Series A
FWONA
$23.9B
| $1.38M | ﹤0.01% |
+52,732
| New | +$1.32M |
|
1906
MillerKnoll
MLKN
$1.59B
| $1.38M | ﹤0.01% |
47,221
+37,675
| +395% | +$1.05M |
|
|
SEM
1907
DELISTED
Select Medical
SEM
| $1.38M | ﹤0.01% |
316,715
+285,434
| +912% | +$1.3M |
|
|
DRCO
1908
DELISTED
DYNAMICS RESEARCH CORP
DRCO
| $1.38M | ﹤0.01% |
181,235
-9,332
| -5% | -$60K |
|
1909
Perion Network
PERI
$374M
| $1.37M | ﹤0.01% |
34,804
+2,577
| +8% | +$92.8K |
|
1910
Vanguard FTSE Europe ETF
VGK
$31.2B
| $1.36M | ﹤0.01% |
24,976
+15,510
| +164% | +$811K |
|
|
EVOL
1911
DELISTED
Evolving Systems, Inc.
EVOL
| $1.36M | ﹤0.01% |
141,594
| – | – |
|
|
WR
1912
DELISTED
Westar Energy Inc
WR
| $1.36M | ﹤0.01% |
+44,291
| New | +$1.42M |
|
|
KMI.WS
1913
DELISTED
Kinder Morgan Inc
KMI.WS
| $1.35M | ﹤0.01% |
271,977
+73,424
| +37% | +$386K |
|
|
P
1914
CALL
DELISTED
Pandora Media Inc
P
| $1.35M | ﹤0.01% |
53,700
-46,300
| -46% | -$948K |
|
|
CVG
1915
DELISTED
Convergys
CVG
| $1.35M | ﹤0.01% |
71,881
-76,469
| -52% | -$1.43M |
|
|
SIAL
1916
PUT
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $1.35M | ﹤0.01% |
+15,800
| New | +$1.33M |
|
1917
PUT
Regeneron Pharmaceuticals
REGN
$83.9B
| $1.34M | ﹤0.01% |
+4,300
| New | +$1.13M |
|
1918
Adeia
ADEA
$2.88B
| $1.34M | ﹤0.01% |
262,279
+164,324
| +168% | +$869K |
|
1919
Grupo Aeroportuario del Sureste
ASR
$7.88B
| $1.34M | ﹤0.01% |
+12,330
| New | +$1.43M |
|
1920
Encore Capital Group
ECPG
$2.12B
| $1.34M | ﹤0.01% |
29,256
-17,781
| -38% | -$720K |
|
|
FBR
1921
DELISTED
Fibria Celulose Sa
FBR
| $1.34M | ﹤0.01% |
116,006
+58,900
| +103% | +$680K |
|
1922
Penske Automotive Group
PAG
$14.3B
| $1.33M | ﹤0.01% |
31,197
-91,252
| -75% | -$3.49M |
|
|
UNXL
1923
CALL
DELISTED
Uni-Pixel, Inc.
UNXL
| $1.33M | ﹤0.01% |
+75,000
| New | +$1.19M |
|
1924
Supernus Pharmaceuticals
SUPN
$2.61B
| $1.33M | ﹤0.01% |
181,221
+88,353
| +95% | +$593K |
|
1925
CALL
Medtronic
MDT
$118B
| $1.33M | ﹤0.01% |
24,900
-95,500
| -79% | -$5.14M |
|
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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.