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 | |
|---|---|---|---|---|---|---|
1951
CALL
Adobe
ADBE
$109B
| $1.27M | ﹤0.01% |
+24,500
| New | +$1.17M |
|
1952
Savara
SVRA
$1.15B
| $1.27M | ﹤0.01% |
41,429
-1,428
| -3% | -$44.3K |
|
1953
CALL
Blackrock
BLK
$182B
| $1.27M | ﹤0.01% |
+4,700
| New | +$1.28M |
|
1954
Simpson Manufacturing
SSD
$7.58B
| $1.26M | ﹤0.01% |
+38,837
| New | +$1.23M |
|
|
TFCFA
1955
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $1.26M | ﹤0.01% |
+37,756
| New | +$1.19M |
|
|
MCRS
1956
DELISTED
MICROS SYSTEMS INC
MCRS
| $1.26M | ﹤0.01% |
25,257
-18,432
| -42% | -$893K |
|
|
EEQ
1957
DELISTED
Enbridge Energy Management Llc
EEQ
| $1.26M | ﹤0.01% |
68,745
+21,770
| +46% | +$415K |
|
1958
CALL
JPMorgan Chase
JPM
$948B
| $1.26M | ﹤0.01% |
+24,300
| New | +$1.3M |
|
|
INVN
1959
DELISTED
Invensense Inc
INVN
| $1.26M | ﹤0.01% |
+71,271
| New | +$1.2M |
|
|
CYS
1960
DELISTED
CYS Investments Inc.
CYS
| $1.26M | ﹤0.01% |
154,512
-67,451
| -30% | -$545K |
|
1961
Telephone and Data Systems
TDS
$3.83B
| $1.25M | ﹤0.01% |
42,461
+15,629
| +58% | +$430K |
|
1962
Coherent
COHR
$57.6B
| $1.25M | ﹤0.01% |
+66,528
| New | +$1.24M |
|
1963
CALL
Huntsman Corp
HUN
$1.69B
| $1.25M | ﹤0.01% |
60,700
-24,700
| -29% | -$451K |
|
|
JMBA
1964
DELISTED
Jamba, Inc.
JMBA
| $1.25M | ﹤0.01% |
93,408
+46,821
| +101% | +$660K |
|
1965
Fortress Biotech
FBIO
$93.7M
| $1.25M | ﹤0.01% |
11,848
+6,945
| +142% | +$851K |
|
1966
Coty
COTY
$2.41B
| $1.24M | ﹤0.01% |
76,773
-57,937
| -43% | -$963K |
|
|
ACAT
1967
DELISTED
Arctic Cat Inc
ACAT
| $1.24M | ﹤0.01% |
21,689
+10,419
| +92% | +$567K |
|
|
1968
PUT
Adobe
ADBE
$109B
| $1.23M | ﹤0.01% |
23,700
-80,600
| -77% | -$3.85M |
|
1969
iShares Russell 2000 Value ETF
IWN
$14.6B
| $1.23M | ﹤0.01% |
+13,428
| New | +$1.21M |
|
|
HTWR
1970
CALL
DELISTED
HEARTWARE INTERNATIONAL INC COM STK (DE)
HTWR
| $1.23M | ﹤0.01% |
16,800
-1,300
| -7% | -$111K |
|
1971
PUT
Northrop Grumman
NOC
$78.1B
| $1.23M | ﹤0.01% |
+12,900
| New | +$1.19M |
|
1972
Titan International
TWI
$455M
| $1.23M | ﹤0.01% |
83,820
+72,920
| +669% | +$1.2M |
|
|
SQNS
1973
Sequans Communications SA
SQNS
$43.5M
| $1.23M | ﹤0.01% |
5,000
-1,006
| -17% | -$199K |
|
|
KATE
1974
DELISTED
Kate Spade & Company
KATE
| $1.23M | ﹤0.01% |
48,738
-40,059
| -45% | -$976K |
|
1975
Fomento Económico Mexicano
FMX
$41.9B
| $1.22M | ﹤0.01% |
+12,592
| New | +$1.26M |
|
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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.