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 | |
|---|---|---|---|---|---|---|
2251
Pediatrix Medical
MD
$2.18B
| $801K | ﹤0.01% |
15,962
-52,738
| -77% | -$2.57M |
|
2252
PUT
Dentsply Sirona
XRAY
$2.2B
| $799K | ﹤0.01% |
+18,400
| New | +$785K |
|
|
FLOW
2253
DELISTED
FLOW INTL CORP
FLOW
| $799K | ﹤0.01% |
+200,197
| New | +$742K |
|
2254
Insight Enterprises
NSIT
$4.4B
| $794K | ﹤0.01% |
41,998
+20,438
| +95% | +$411K |
|
|
VIVO
2255
DELISTED
Meridian Bioscience Inc
VIVO
| $794K | ﹤0.01% |
33,603
+8,446
| +34% | +$197K |
|
2256
DaVita
DVA
$11.6B
| $793K | ﹤0.01% |
13,942
-209,648
| -94% | -$12M |
|
|
HAYN
2257
DELISTED
Haynes International, Inc.
HAYN
| $793K | ﹤0.01% |
+17,530
| New | +$823K |
|
|
PETM
2258
PUT
DELISTED
PETSMART INC
PETM
| $793K | ﹤0.01% |
10,400
+1,100
| +12% | +$79.5K |
|
|
NEWP
2259
DELISTED
NEWPORT CORP
NEWP
| $792K | ﹤0.01% |
50,679
+16,638
| +49% | +$256K |
|
2260
LPL Financial
LPLA
$28B
| $790K | ﹤0.01% |
20,630
-81,967
| -80% | -$3.14M |
|
2261
Travelzoo
TZOO
$69.3M
| $786K | ﹤0.01% |
29,621
+7,093
| +31% | +$204K |
|
|
VGR
2262
DELISTED
Vector Group Ltd.
VGR
| $785K | ﹤0.01% |
92,073
-174,112
| -65% | -$1.46M |
|
|
EJ
2263
DELISTED
E HOUSE (CHINA) HOLDINGS LIMITED
EJ
| $784K | ﹤0.01% |
92,060
+49,738
| +118% | +$288K |
|
2264
Red Robin
RRGB
$184M
| $782K | ﹤0.01% |
10,992
-9,266
| -46% | -$580K |
|
|
EXPR
2265
CALL
DELISTED
Express, Inc.
EXPR
| $781K | ﹤0.01% |
1,655
+25
| +2% | +$11K |
|
|
TLAB
2266
DELISTED
TELLABS INC
TLAB
| $779K | ﹤0.01% |
343,172
-51,299
| -13% | -$116K |
|
2267
First Horizon
FHN
$11.7B
| $777K | ﹤0.01% |
70,684
-817,743
| -92% | -$9.64M |
|
2268
Sasol
SSL
$7.24B
| $777K | ﹤0.01% |
+16,266
| New | +$758K |
|
|
JRN
2269
DELISTED
JOURNAL COMMUNICATIONS INC CL-A
JRN
| $777K | ﹤0.01% |
90,921
+61,621
| +210% | +$502K |
|
2270
Nu Skin
NUS
$237M
| $775K | ﹤0.01% |
+8,100
| New | +$687K |
|
2271
Saia
SAIA
$9.3B
| $775K | ﹤0.01% |
24,858
-38,427
| -61% | -$1.2M |
|
2272
Innospec
IOSP
$2.34B
| $774K | ﹤0.01% |
16,581
-77,241
| -82% | -$3.33M |
|
|
HGG
2273
DELISTED
hhgregg Inc.
HGG
| $773K | ﹤0.01% |
43,167
-17,972
| -29% | -$310K |
|
2274
CALL
New Oriental
EDU
$9.04B
| $769K | ﹤0.01% |
30,900
-400,700
| -93% | -$9.15M |
|
2275
PUT
Bank of Montreal
BMO
$120B
| $768K | ﹤0.01% |
11,500
+7,900
| +219% | +$495K |
|
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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.