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 |
Devon Energy
DVN
|
+$196M |
| 2 |
Verizon
VZ
|
+$166M |
| 3 |
Edison International
EIX
|
+$152M |
| 4 |
PPL
PPL Corp
PPL
|
+$122M |
| 5 |
Estee Lauder
EL
|
+$115M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ameren
AEE
|
+$140M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$136M |
| 3 |
ANDV
Andeavor
ANDV
|
+$111M |
| 4 |
LyondellBasell Industries
LYB
|
+$105M |
| 5 |
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
|
+$101M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 13.77% |
| 2 | Energy | 13.48% |
| 3 | Utilities | 8.99% |
| 4 | Financials | 8.47% |
| 5 | Consumer Discretionary | 8.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
SBA Communications
SBAC
$19.4B
| $44.5M | 0.13% |
488,839
+319,823
| +189% | +$29.7M |
|
177
PUT
Vertex Pharmaceuticals
VRTX
$139B
| $44.3M | 0.13% |
626,500
+449,300
| +254% | +$35.6M |
|
178
Cigna
CI
$73.3B
| $44M | 0.13% |
526,082
+222,583
| +73% | +$18.3M |
|
179
Cooper Companies
COO
$14.9B
| $43.4M | 0.13% |
1,262,680
+1,226,848
| +3,424% | +$39.4M |
|
180
H&R Block
HRB
$6.62B
| $43.1M | 0.12% |
1,426,782
+1,246,285
| +690% | +$37.4M |
|
181
PUT
Cleveland-Cliffs
CLF
$6.43B
| $42.9M | 0.12% |
2,095,300
+268,200
| +15% | +$5.55M |
|
182
Cardinal Health
CAH
$53.4B
| $42.5M | 0.12% |
607,120
+57,009
| +10% | +$3.96M |
|
|
BAS
183
DELISTED
Basis Energy Services, Inc.
BAS
| $42.2M | 0.12% |
2,702
-264
| -9% | -$3.07M |
|
|
SHPG
184
DELISTED
Shire pic
SHPG
| $42.1M | 0.12% |
283,127
+165,857
| +141% | +$25.6M |
|
185
Union Pacific
UNP
$183B
| $42M | 0.12% |
447,440
+63,102
| +16% | +$5.6M |
|
186
Designer Brands
DBI
$292M
| $41.9M | 0.12% |
1,169,157
+965,904
| +475% | +$37.3M |
|
187
Philip Morris
PM
$293B
| $41.5M | 0.12% |
507,499
+124,071
| +32% | +$10M |
|
188
American Water Works
AWK
$26.9B
| $41.2M | 0.12% |
908,249
+36,718
| +4% | +$1.59M |
|
189
Johnson Controls International
JCI
$86.7B
| $41.2M | 0.12% |
831,801
+231,445
| +39% | +$11.7M |
|
190
American Airlines Group
AAL
$9.15B
| $41M | 0.12% |
1,120,261
+62,422
| +6% | +$2.12M |
|
|
DYAX
191
DELISTED
DYAX CORPORATION
DYAX
| $40.9M | 0.12% |
4,557,310
+1,327,855
| +41% | +$12.1M |
|
192
PUT
Vale
VALE
$62.1B
| $40.9M | 0.12% |
2,957,800
+1,349,900
| +84% | +$18.4M |
|
193
Archer Daniels Midland
ADM
$38.7B
| $40.8M | 0.12% |
941,177
+700,914
| +292% | +$28.9M |
|
194
Delta Air Lines
DAL
$54.2B
| $40.8M | 0.12% |
1,177,656
-704,552
| -37% | -$22.7M |
|
|
CHMT
195
DELISTED
Chemtura Corporation
CHMT
| $40.8M | 0.12% |
1,612,999
+1,243,810
| +337% | +$31.7M |
|
196
Masco
MAS
$14.5B
| $40.7M | 0.12% |
2,084,353
+1,086,932
| +109% | +$21.4M |
|
|
STAY
197
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| $40.3M | 0.12% |
1,771,573
+962,794
| +119% | +$24.1M |
|
|
SLXP
198
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
| $40.3M | 0.12% |
388,763
-73,058
| -16% | -$7.48M |
|
199
Westlake Corp
WLK
$10.1B
| $40.1M | 0.12% |
605,768
+282,880
| +88% | +$18M |
|
200
ITT
ITT
$18.6B
| $40M | 0.12% |
934,732
+78,333
| +9% | +$3.33M |
|
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Israel Englander's Q1 2014 Portfolio in Review
As of Q1 2014, Israel Englander held 4,356 positions worth $34.5B, up 8.9% from $31.7B the previous quarter. Its ten largest holdings account for 7.9% of the portfolio.
Israel Englander deployed $1.49B of net new capital in Q1 2014, opening 945 new positions and adding to 1,266 existing holdings. Its largest new stake was Bausch Health: 575,504 shares worth $75.9M.
By sector, the portfolio is most concentrated in Healthcare at 14% of assets, up from 12% a quarter earlier, followed by Energy and Utilities.
On the sell side, the largest reduction was Ameren, an estimated $140M trimmed.
- Israel Englander's largest Q1 2014 buy was Bausch Health: 575,504 shares worth $75.9M.
- Israel Englander added most to Devon Energy in Q1 2014, an estimated $196M increase.
- Israel Englander's biggest Q1 2014 reduction was Ameren, cutting an estimated $140M.
- Israel Englander fully exited PepsiCo in Q1 2014, selling an estimated $89.1M.
- Israel Englander's ten largest holdings make up 7.9% of its $34.5B portfolio in Q1 2014.
- Israel Englander opened 945 new positions and closed 958 in Q1 2014.
- Israel Englander's portfolio value rose 8.9% quarter-over-quarter to $34.5B.
Based on Millennium Management's 13F filing for Q1 2014, filed 15 May 2014.