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 | |
|---|---|---|---|---|---|---|
176
AMC Global Media
AMCX
$511M
| $33.3M | 0.11% |
485,426
+379,838
| +360% | +$25.2M |
|
|
QIHU
177
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
| $33.1M | 0.11% |
+398,399
| New | +$28M |
|
178
Halliburton
HAL
$29.4B
| $33.1M | 0.11% |
688,332
+163,141
| +31% | +$7.64M |
|
|
HTSI
179
DELISTED
HARRIS TEETER SUPERMARKETS INC COM STK (NC)
HTSI
| $33M | 0.11% |
671,013
+644,711
| +2,451% | +$31.7M |
|
180
Mastercard
MA
$509B
| $33M | 0.11% |
489,820
+423,240
| +636% | +$26.6M |
|
181
AXIS Capital
AXS
$7.2B
| $32.9M | 0.11% |
+758,748
| New | +$33.5M |
|
|
CVA
182
DELISTED
Covanta Holding Corporation
CVA
| $32.8M | 0.11% |
1,532,285
+105,220
| +7% | +$2.21M |
|
|
LNKD
183
DELISTED
LinkedIn Corporation
LNKD
| $32.6M | 0.1% |
132,324
+129,226
| +4,171% | +$29.1M |
|
|
CBL
184
DELISTED
CBL& Associates Properties, Inc.
CBL
| $32.5M | 0.1% |
1,704,188
+1,531,795
| +889% | +$32.3M |
|
185
Teva Pharmaceuticals
TEVA
$43.5B
| $32.5M | 0.1% |
861,157
+553,476
| +180% | +$21.6M |
|
|
CHK
186
DELISTED
Chesapeake Energy Corporation
CHK
| $32.4M | 0.1% |
6,620
+1,327
| +25% | +$6.16M |
|
187
Armstrong World Industries
AWI
$7.55B
| $32.3M | 0.1% |
588,185
+490,373
| +501% | +$24.8M |
|
188
Kroger
KR
$35.5B
| $32.2M | 0.1% |
1,598,826
+1,336,626
| +510% | +$25.7M |
|
189
General Motors
GM
$77.2B
| $32.1M | 0.1% |
893,075
-1,197,780
| -57% | -$43M |
|
|
CBST
190
CALL
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
| $32M | 0.1% |
+503,000
| New | +$30.4M |
|
|
CVC
191
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
| $31.9M | 0.1% |
1,895,125
+1,789,361
| +1,692% | +$32.8M |
|
192
Timken Company
TKR
$8.67B
| $31.9M | 0.1% |
737,189
+536,725
| +268% | +$23M |
|
|
PX
193
DELISTED
Praxair Inc
PX
| $31.6M | 0.1% |
263,070
+98,856
| +60% | +$11.7M |
|
194
Vodafone
VOD
$36.9B
| $31.4M | 0.1% |
874,798
+142,349
| +19% | +$4.5M |
|
|
ONIT
195
Onity Group
ONIT
$301M
| $31.3M | 0.1% |
37,379
+26,929
| +258% | +$20.3M |
|
|
NRF
196
DELISTED
NorthStar Realty Finance Corp.
NRF
| $31.1M | 0.1% |
1,709,161
+262,625
| +18% | +$4.78M |
|
197
Westlake Corp
WLK
$10.1B
| $30.9M | 0.1% |
590,124
-69,934
| -11% | -$3.57M |
|
|
SRC
198
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $30.7M | 0.1% |
746,577
-48,058
| -6% | -$1.98M |
|
|
WOOF
199
DELISTED
VCA Inc.
WOOF
| $30.7M | 0.1% |
1,119,062
+340,393
| +44% | +$9.52M |
|
|
ONXX
200
DELISTED
ONYX PHARMACEUTICALS INC
ONXX
| $30.7M | 0.1% |
245,987
+134,555
| +121% | +$17M |
|
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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.