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 | |
|---|---|---|---|---|---|---|
2401
Telkom Indonesia
TLK
$15B
| $614K | ﹤0.01% |
+33,838
| New | +$706K |
|
|
PX
2402
PUT
DELISTED
Praxair Inc
PX
| $613K | ﹤0.01% |
+5,100
| New | +$606K |
|
2403
Deckers Outdoor
DECK
$12.1B
| $612K | ﹤0.01% |
55,674
-1,031,280
| -95% | -$10M |
|
|
COWN
2404
DELISTED
Cowen Inc. Class A Common Stock
COWN
| $610K | ﹤0.01% |
44,331
-1,447
| -3% | -$19.3K |
|
2405
PUT
Boston Properties
BXP
$11.5B
| $609K | ﹤0.01% |
+5,700
| New | +$603K |
|
|
CBEY
2406
DELISTED
CBEYOND INC COM STK
CBEY
| $608K | ﹤0.01% |
94,858
+35,644
| +60% | +$257K |
|
|
BODY
2407
CALL
DELISTED
BODY CENTRAL CORP COM STK
BODY
| $608K | ﹤0.01% |
99,600
-8,100
| -8% | -$71.7K |
|
2408
ProShares Ultra Financials
UYG
$853M
| $607K | ﹤0.01% |
37,110
+20,064
| +118% | +$335K |
|
2409
Crown Castle
CCI
$32.5B
| $606K | ﹤0.01% |
8,300
-45,674
| -85% | -$3.27M |
|
|
AGN
2410
PUT
DELISTED
Allergan plc
AGN
| $605K | ﹤0.01% |
+4,200
| New | +$559K |
|
2411
CALL
KBR
KBR
$4.75B
| $604K | ﹤0.01% |
18,500
-24,000
| -56% | -$761K |
|
|
BIOA
2412
DELISTED
BioAmber Inc.
BIOA
| $603K | ﹤0.01% |
123,000
-12,000
| -9% | -$68.3K |
|
|
BTM
2413
DELISTED
OI S.A. SPON ADR REPSTG 3 PFD SHS (BRA)
BTM
| $603K | ﹤0.01% |
+327,774
| New | +$603K |
|
|
CPE
2414
DELISTED
Callon Petroleum Company
CPE
| $602K | ﹤0.01% |
10,998
+7,716
| +235% | +$336K |
|
2415
CALL
Advanced Micro Devices
AMD
$782B
| $600K | ﹤0.01% |
157,800
+54,800
| +53% | +$209K |
|
|
CADX
2416
DELISTED
CADENCE PHARMACEUTICALS, INC COM STK
CADX
| $600K | ﹤0.01% |
95,287
-22,774
| -19% | -$145K |
|
|
LO
2417
DELISTED
LORILLARD INC COM STK
LO
| $599K | ﹤0.01% |
13,373
-111,512
| -89% | -$4.91M |
|
|
WWAV
2418
DELISTED
The WhiteWave Foods Company
WWAV
| $599K | ﹤0.01% |
29,981
-163,442
| -84% | -$3.1M |
|
|
SASR
2419
DELISTED
Sandy Spring Bancorp Inc
SASR
| $598K | ﹤0.01% |
25,718
+15,606
| +154% | +$371K |
|
|
MVC
2420
DELISTED
MVC Capital, Inc.
MVC
| $597K | ﹤0.01% |
45,700
-16,211
| -26% | -$207K |
|
|
MBII
2421
DELISTED
Marrone Bio Innovations, Inc.
MBII
| $596K | ﹤0.01% |
+35,400
| New | +$497K |
|
|
WRES
2422
DELISTED
WARREN RESOURCES INC
WRES
| $596K | ﹤0.01% |
204,909
+68,868
| +51% | +$200K |
|
2423
Essential Utilities
WTRG
$11.6B
| $595K | ﹤0.01% |
24,051
-14,130
| -37% | -$360K |
|
|
AGU
2424
DELISTED
Agrium
AGU
| $592K | ﹤0.01% |
7,048
+3,092
| +78% | +$271K |
|
2425
POSCO
PKX
$18B
| $591K | ﹤0.01% |
8,026
-17,012
| -68% | -$1.24M |
|
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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.