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 | |
|---|---|---|---|---|---|---|
|
B
201
PUT
Barrick Mining
B
$78.3B
| $30.4M | 0.1% |
1,630,800
+175,700
| +12% | +$3.1M |
|
202
Lennox International
LII
$13.9B
| $30.4M | 0.1% |
403,408
+257,823
| +177% | +$18.2M |
|
203
PENN Entertainment
PENN
$2.5B
| $30.3M | 0.1% |
2,421,102
+13,694
| +0.6% | +$165K |
|
|
CELG
204
DELISTED
Celgene Corp
CELG
| $30.2M | 0.1% |
391,828
-468
| -0.1% | -$32.8K |
|
|
SWFT
205
DELISTED
Swift Transportation Company
SWFT
| $30.1M | 0.1% |
1,493,249
-216,795
| -13% | -$3.94M |
|
206
Capital One
COF
$134B
| $30.1M | 0.1% |
437,878
+388,804
| +792% | +$26.2M |
|
207
Tidewater
TDW
$4.74B
| $29.9M | 0.1% |
15,628
-4,021
| -20% | -$7.49M |
|
208
PPG Industries
PPG
$25.3B
| $29.9M | 0.1% |
357,610
-152,886
| -30% | -$12.2M |
|
209
Eli Lilly
LLY
$1.12T
| $29.8M | 0.1% |
592,514
-667,962
| -53% | -$35M |
|
210
CALL
iShares MSCI Japan ETF
EWJ
$22.4B
| $29.8M | 0.1% |
625,000
+17,750
| +3% | +$822K |
|
211
Salesforce
CRM
$171B
| $29.7M | 0.1% |
571,304
+526,842
| +1,185% | +$23.9M |
|
|
MHFI
212
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $29.3M | 0.09% |
446,836
+224,650
| +101% | +$13.6M |
|
213
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.93B
| $29.1M | 0.09% |
110,400
-55,225
| -33% | -$13.9M |
|
|
TIVO
214
DELISTED
TIVO INC
TIVO
| $28.9M | 0.09% |
2,322,551
+8,604
| +0.4% | +$99.3K |
|
215
Invesco
IVZ
$14.1B
| $28.8M | 0.09% |
901,845
-943,122
| -51% | -$30.1M |
|
216
Best Buy
BBY
$18.1B
| $28.8M | 0.09% |
766,837
+108,273
| +16% | +$3.6M |
|
|
GWR
217
DELISTED
Genesee & Wyoming Inc.
GWR
| $28.6M | 0.09% |
307,235
-29,044
| -9% | -$2.62M |
|
218
Valero Energy
VLO
$100B
| $28.6M | 0.09% |
836,351
+771,232
| +1,184% | +$27.3M |
|
219
GE Aerospace
GE
$361B
| $28.6M | 0.09% |
249,452
+103,136
| +70% | +$11.8M |
|
|
CHK
220
CALL
DELISTED
Chesapeake Energy Corporation
CHK
| $28.5M | 0.09% |
5,828
+3,702
| +174% | +$17.2M |
|
|
MRO
221
DELISTED
Marathon Oil Corporation
MRO
| $28.4M | 0.09% |
813,472
-232,213
| -22% | -$8.26M |
|
222
Starbucks
SBUX
$122B
| $28.4M | 0.09% |
736,738
+273,624
| +59% | +$9.83M |
|
223
Regions Financial
RF
$25.9B
| $28.4M | 0.09% |
3,061,676
+2,584,902
| +542% | +$25.3M |
|
|
MRSH
224
Marsh
MRSH
$91.6B
| $28.3M | 0.09% |
650,336
-217,924
| -25% | -$9.16M |
|
225
Trip.com Group
TCOM
$29B
| $28.3M | 0.09% |
969,996
+763,034
| +369% | +$16.4M |
|
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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.