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 | |
|---|---|---|---|---|---|---|
2201
Visa
V
$715B
| $860K | ﹤0.01% |
18,000
-981,404
| -98% | -$45.3M |
|
2202
Avista
AVA
$3.18B
| $858K | ﹤0.01% |
32,517
-63,569
| -66% | -$1.74M |
|
2203
Deutsche Bank
DB
$75.6B
| $858K | ﹤0.01% |
21,949
-88,167
| -80% | -$3.4M |
|
2204
TG Therapeutics
TGTX
$8.47B
| $856K | ﹤0.01% |
+169,749
| New | +$1.04M |
|
|
RAVN
2205
DELISTED
Raven Industries Inc
RAVN
| $856K | ﹤0.01% |
+26,182
| New | +$821K |
|
2206
CALL
Neurocrine Biosciences
NBIX
$16.1B
| $854K | ﹤0.01% |
75,400
-14,900
| -17% | -$205K |
|
2207
Deluxe
DLX
$1.09B
| $853K | ﹤0.01% |
20,476
-197,701
| -91% | -$7.94M |
|
2208
Grupo Aeroportuario del Pacifico
PAC
$12.8B
| $853K | ﹤0.01% |
16,685
+10,918
| +189% | +$569K |
|
2209
Casey's General Stores
CASY
$30.4B
| $852K | ﹤0.01% |
11,603
-9,862
| -46% | -$670K |
|
|
CNVR
2210
DELISTED
CONVERSANT INC COM STK (DE)
CNVR
| $852K | ﹤0.01% |
40,863
-235,445
| -85% | -$5.34M |
|
|
TUES
2211
DELISTED
Tuesday Morning Corp
TUES
| $850K | ﹤0.01% |
55,660
+38,629
| +227% | +$477K |
|
|
CIE
2212
CALL
DELISTED
Cobalt International Energy, Inc
CIE
| $850K | ﹤0.01% |
2,280
-5,060
| -69% | -$2.05M |
|
2213
Comfort Systems
FIX
$56.4B
| $848K | ﹤0.01% |
50,462
-2,785
| -5% | -$44.6K |
|
|
NOR
2214
DELISTED
NORANDA ALUM HLDG CORP COM NEW
NOR
| $848K | ﹤0.01% |
49,246
+47,403
| +2,572% | +$997K |
|
2215
Chord Energy
CHRD
$7.77B
| $847K | ﹤0.01% |
17,231
-501,413
| -97% | -$21.1M |
|
2216
Albemarle
ALB
$15.8B
| $845K | ﹤0.01% |
+13,423
| New | +$846K |
|
|
GRMN
2217
CALL
Garmin
GRMN
$55.6B
| $845K | ﹤0.01% |
18,700
-219,200
| -92% | -$8.71M |
|
|
CCXI
2218
PUT
DELISTED
ChemoCentryx, Inc.
CCXI
| $845K | ﹤0.01% |
+151,900
| New | +$1.64M |
|
|
PATH
2219
DELISTED
NUPATHE INC COM STK
PATH
| $844K | ﹤0.01% |
350,000
-74,516
| -18% | -$199K |
|
2220
PUT
Merck
MRK
$379B
| $843K | ﹤0.01% |
18,550
-209,285
| -92% | -$9.56M |
|
|
GCAP
2221
DELISTED
Gain Capital Holdings, Inc.
GCAP
| $843K | ﹤0.01% |
66,970
+52,770
| +372% | +$417K |
|
2222
CALL
HCA Healthcare
HCA
$92.6B
| $842K | ﹤0.01% |
+19,700
| New | +$770K |
|
2223
ICF International
ICFI
$1.59B
| $842K | ﹤0.01% |
+23,782
| New | +$801K |
|
2224
Blackrock
BLK
$182B
| $839K | ﹤0.01% |
+3,100
| New | +$842K |
|
|
NIHD
2225
PUT
DELISTED
NII HOLDINGS INC CL B
NIHD
| $838K | ﹤0.01% |
+138,100
| New | +$932K |
|
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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.