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 | |
|---|---|---|---|---|---|---|
2126
Adtran
ADTN
$645M
| $955K | ﹤0.01% |
35,855
-136,479
| -79% | -$3.54M |
|
|
GAME
2127
DELISTED
SHANDA GAMES LTD SPON ADR REPSTG CL A (CAYMAN ISLANDS)
GAME
| $954K | ﹤0.01% |
244,070
+126,968
| +108% | +$553K |
|
2128
CALL
Silicon Laboratories
SLAB
$7.3B
| $952K | ﹤0.01% |
+22,300
| New | +$922K |
|
2129
CALL
Salesforce
CRM
$168B
| $950K | ﹤0.01% |
+18,300
| New | +$831K |
|
2130
Biglari Holdings Class B
BH
$1.22B
| $947K | ﹤0.01% |
3,706
+1,785
| +93% | +$449K |
|
2131
CALL
Ironwood Pharmaceuticals
IRWD
$709M
| $947K | ﹤0.01% |
95,520
-767,384
| -89% | -$7.53M |
|
2132
CONMED
CNMD
$1.51B
| $945K | ﹤0.01% |
27,811
-45,548
| -62% | -$1.49M |
|
|
ARTC
2133
DELISTED
ARTHROCARE CORP
ARTC
| $945K | ﹤0.01% |
26,566
-51,865
| -66% | -$1.81M |
|
|
IGTE
2134
DELISTED
IGATE CORPORATION
IGTE
| $943K | ﹤0.01% |
+33,964
| New | +$778K |
|
2135
PUT
The Mosaic Company
MOS
$7.68B
| $942K | ﹤0.01% |
+21,900
| New | +$1.02M |
|
2136
PUT
Direxion Daily Small Cap Bull 3x ETF
TNA
$1.3B
| $941K | ﹤0.01% |
30,000
| – | – |
|
|
AVB
2137
PUT
DELISTED
AvalonBay Communities
AVB
| $940K | ﹤0.01% |
+7,400
| New | +$976K |
|
2138
Unum
UNM
$14.5B
| $939K | ﹤0.01% |
30,855
+20,355
| +194% | +$625K |
|
2139
Amkor Technology
AMKR
$12B
| $937K | ﹤0.01% |
218,879
-93,357
| -30% | -$401K |
|
2140
Hexcel
HXL
$7.16B
| $937K | ﹤0.01% |
24,142
-106,353
| -81% | -$3.87M |
|
2141
News Corp Class A
NWSA
$16.6B
| $937K | ﹤0.01% |
+58,366
| New | +$932K |
|
2142
Monolithic Power Systems
MPWR
$64.1B
| $936K | ﹤0.01% |
30,900
+9,447
| +44% | +$265K |
|
|
SLTM
2143
DELISTED
SOLTA MED INC (DE)
SLTM
| $935K | ﹤0.01% |
451,700
+76,700
| +20% | +$174K |
|
|
KND
2144
DELISTED
Kindred Healthcare
KND
| $934K | ﹤0.01% |
69,530
+24,051
| +53% | +$346K |
|
|
AXON
2145
Axon Enterprise
AXON
$49.4B
| $932K | ﹤0.01% |
62,606
-86,363
| -58% | -$927K |
|
|
MBFI
2146
DELISTED
MB Financial Corp
MBFI
| $932K | ﹤0.01% |
33,026
-206,111
| -86% | -$5.81M |
|
|
DHC
2147
Diversified Healthcare Trust
DHC
$1.95B
| $930K | ﹤0.01% |
+40,207
| New | +$973K |
|
|
CCXI
2148
DELISTED
ChemoCentryx, Inc.
CCXI
| $930K | ﹤0.01% |
167,303
-120,418
| -42% | -$1.3M |
|
2149
PUT
GameStop
GME
$8.06B
| $928K | ﹤0.01% |
+74,800
| New | +$894K |
|
|
GTAT
2150
DELISTED
GT ADVANCED TECHNOLOGIES INC COM STK (DE)
GTAT
| $928K | ﹤0.01% |
109,043
+91,343
| +516% | +$545K |
|
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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.