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 | |
|---|---|---|---|---|---|---|
|
CATM
2151
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
| $927K | ﹤0.01% |
24,977
-105,813
| -81% | -$3.57M |
|
|
EE
2152
DELISTED
El Paso Electric Company
EE
| $925K | ﹤0.01% |
27,691
+8,820
| +47% | +$315K |
|
2153
StealthGas
GASS
$342M
| $924K | ﹤0.01% |
101,131
-126,400
| -56% | -$1.22M |
|
|
JOY
2154
CALL
DELISTED
Joy Global Inc
JOY
| $924K | ﹤0.01% |
+18,100
| New | +$923K |
|
2155
CALL
iShares China Large-Cap ETF
FXI
$4.24B
| $923K | ﹤0.01% |
+24,900
| New | +$884K |
|
2156
BlackRock TCP Capital
TCPC
$347M
| $923K | ﹤0.01% |
+56,879
| New | +$906K |
|
|
FDML
2157
DELISTED
Federal-Mogul Holdings Corporation
FDML
| $923K | ﹤0.01% |
54,981
+39,378
| +252% | +$589K |
|
|
CAM
2158
CALL
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
| $922K | ﹤0.01% |
15,800
| – | – |
|
2159
Arrowhead Research
ARWR
$12.6B
| $921K | ﹤0.01% |
+161,889
| New | +$622K |
|
2160
DHI Group
DHX
$193M
| $921K | ﹤0.01% |
108,273
-45,023
| -29% | -$397K |
|
2161
NETSCOUT
NTCT
$2.8B
| $919K | ﹤0.01% |
35,987
-78,134
| -68% | -$2.02M |
|
2162
PUT
DaVita
DVA
$11.5B
| $916K | ﹤0.01% |
+16,100
| New | +$922K |
|
|
WLL
2163
CALL
DELISTED
Whiting Petroleum Corporation
WLL
| $916K | ﹤0.01% |
+51
| New | +$790K |
|
2164
PUT
Salesforce
CRM
$168B
| $914K | ﹤0.01% |
+17,600
| New | +$799K |
|
2165
Iridium Communications
IRDM
$5B
| $913K | ﹤0.01% |
+132,746
| New | +$994K |
|
2166
Hovnanian Enterprises
HOV
$752M
| $910K | ﹤0.01% |
6,958
-19,446
| -74% | -$2.6M |
|
2167
PUT
Ross Stores
ROST
$75.8B
| $910K | ﹤0.01% |
+25,000
| New | +$853K |
|
2168
Standex International
SXI
$3.7B
| $908K | ﹤0.01% |
+15,284
| New | +$882K |
|
|
GNC
2169
PUT
DELISTED
GNC Holdings, Inc.
GNC
| $907K | ﹤0.01% |
+16,600
| New | +$849K |
|
|
XOOM
2170
DELISTED
XOOM CORP COM
XOOM
| $906K | ﹤0.01% |
+28,537
| New | +$831K |
|
|
SIGM
2171
DELISTED
Sigma Designs Inc
SIGM
| $905K | ﹤0.01% |
162,257
+104,787
| +182% | +$564K |
|
2172
PUT
Agilent Technologies
A
$43.8B
| $902K | ﹤0.01% |
24,605
+5,033
| +26% | +$170K |
|
2173
Central Pacific Financial
CPF
$978M
| $902K | ﹤0.01% |
50,979
-5,811
| -10% | -$104K |
|
2174
CALL
Intuit
INTU
$94.6B
| $902K | ﹤0.01% |
13,600
+3,900
| +40% | +$251K |
|
2175
OraSure Technologies
OSUR
$256M
| $902K | ﹤0.01% |
150,003
-302,575
| -67% | -$1.52M |
|
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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.