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 | |
|---|---|---|---|---|---|---|
2101
CALL
JetBlue
JBLU
$1.88B
| $1M | ﹤0.01% |
150,000
-80,400
| -35% | -$520K |
|
|
2102
PUT
JetBlue
JBLU
$1.88B
| $1M | ﹤0.01% |
150,000
| – | – |
|
|
CUB
2103
DELISTED
Cubic Corporation
CUB
| $997K | ﹤0.01% |
+18,582
| New | +$957K |
|
|
DANG
2104
DELISTED
E-COMMERCE CHINA DANGDANG INC SPNSRD ADS REP COM CL A (CYM)
DANG
| $994K | ﹤0.01% |
94,851
-457,597
| -83% | -$4.05M |
|
2105
CALL
Factset
FDS
$10.5B
| $993K | ﹤0.01% |
+9,100
| New | +$983K |
|
|
RATE
2106
DELISTED
Bankrate Inc
RATE
| $988K | ﹤0.01% |
48,032
-68,654
| -59% | -$1.18M |
|
2107
Ecolab
ECL
$81.5B
| $987K | ﹤0.01% |
9,993
-441,959
| -98% | -$41.1M |
|
|
CEC
2108
DELISTED
CEC ENTERTAINMENT INC
CEC
| $985K | ﹤0.01% |
+21,484
| New | +$924K |
|
2109
Open Text
OTEX
$5.89B
| $984K | ﹤0.01% |
52,724
-143,060
| -73% | -$2.51M |
|
2110
iShares US Real Estate ETF
IYR
$4.64B
| $983K | ﹤0.01% |
+15,403
| New | +$1.01M |
|
|
AHRT
2111
AH Realty Trust
AHRT
$501M
| $982K | ﹤0.01% |
99,124
+31,235
| +46% | +$325K |
|
|
EVRI
2112
DELISTED
Everi Holdings
EVRI
| $981K | ﹤0.01% |
125,672
-567,898
| -82% | -$4.2M |
|
|
ENT
2113
DELISTED
Global Eagle Entertainment Inc.
ENT
| $981K | ﹤0.01% |
4,200
-2,644
| -39% | -$658K |
|
|
AF
2114
DELISTED
Astoria Financial Corporation
AF
| $979K | ﹤0.01% |
78,672
-286,575
| -78% | -$3.54M |
|
|
RRTS
2115
DELISTED
RoadRunner Transportation Systems, Inc.
RRTS
| $978K | ﹤0.01% |
1,386
+727
| +110% | +$520K |
|
|
JCP
2116
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
| $975K | ﹤0.01% |
110,600
+14,300
| +15% | +$204K |
|
|
BPO
2117
DELISTED
BROOKFIELD OFFICE PROPERTIES. INC
BPO
| $972K | ﹤0.01% |
50,995
-4,622
| -8% | -$77.2K |
|
2118
AeroVironment
AVAV
$7.46B
| $968K | ﹤0.01% |
41,914
+10,727
| +34% | +$240K |
|
2119
State Street Health Care Select Sector SPDR ETF
XLV
$45.1B
| $968K | ﹤0.01% |
19,129
+4,929
| +35% | +$248K |
|
2120
Semtech
SMTC
$13.1B
| $967K | ﹤0.01% |
32,228
-2,220
| -6% | -$70K |
|
2121
Universal Electronics
UEIC
$57.9M
| $966K | ﹤0.01% |
+26,802
| New | +$844K |
|
2122
CALL
Kulicke & Soffa
KLIC
$4.44B
| $963K | ﹤0.01% |
83,400
-2,600
| -3% | -$29.6K |
|
2123
Lifecore Biomedical
LFCR
$176M
| $963K | ﹤0.01% |
78,940
+19,582
| +33% | +$273K |
|
2124
PUT
Ashland
ASH
$3.4B
| $962K | ﹤0.01% |
+21,258
| New | +$917K |
|
2125
Rockwell Medical
RMTI
$31.9M
| $960K | ﹤0.01% |
765
+657
| +608% | +$446K |
|
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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.