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 | |
|---|---|---|---|---|---|---|
|
CEL
2426
DELISTED
Cellcom Israel, Ltd.
CEL
| $591K | ﹤0.01% |
+53,439
| New | +$573K |
|
2427
World Acceptance Corp
WRLD
$902M
| $589K | ﹤0.01% |
6,553
+3,296
| +101% | +$281K |
|
2428
Perma-Fix Environmental Services
PESI
$376M
| $587K | ﹤0.01% |
160,000
-172,491
| -52% | -$436K |
|
2429
Erie Indemnity
ERIE
$13.5B
| $586K | ﹤0.01% |
+8,090
| New | +$624K |
|
|
ECOL
2430
DELISTED
US Ecology, Inc.
ECOL
| $586K | ﹤0.01% |
19,463
+11,853
| +156% | +$348K |
|
2431
CVR Energy
CVI
$3.81B
| $585K | ﹤0.01% |
15,180
-72,379
| -83% | -$3.18M |
|
2432
PUT
Sony
SONY
$141B
| $585K | ﹤0.01% |
+136,000
| New | +$576K |
|
|
MN
2433
DELISTED
MANNING & NAPIER, INC.
MN
| $585K | ﹤0.01% |
35,075
-53,145
| -60% | -$890K |
|
2434
8x8 Inc
EGHT
$282M
| $579K | ﹤0.01% |
+57,488
| New | +$537K |
|
|
HBI
2435
PUT
DELISTED
Hanesbrands
HBI
| $579K | ﹤0.01% |
+37,200
| New | +$553K |
|
2436
Huazhu Hotels Group
HTHT
$15.2B
| $577K | ﹤0.01% |
+121,460
| New | +$555K |
|
2437
Safe Bulkers
SB
$886M
| $577K | ﹤0.01% |
+84,809
| New | +$499K |
|
|
RNWK
2438
DELISTED
RealNetworks Inc
RNWK
| $577K | ﹤0.01% |
67,482
-173,618
| -72% | -$1.33M |
|
2439
Andersons Inc
ANDE
$2.24B
| $576K | ﹤0.01% |
+12,360
| New | +$521K |
|
2440
CALL
W.W. Grainger
GWW
$61.3B
| $576K | ﹤0.01% |
+2,200
| New | +$572K |
|
|
CAS
2441
DELISTED
A M Castle & Co
CAS
| $576K | ﹤0.01% |
35,771
-60,158
| -63% | -$971K |
|
2442
Zumiez
ZUMZ
$311M
| $575K | ﹤0.01% |
20,895
-43,801
| -68% | -$1.23M |
|
2443
La-Z-Boy
LZB
$1.28B
| $573K | ﹤0.01% |
25,220
-24,844
| -50% | -$539K |
|
2444
The Bancorp
TBBK
$2.73B
| $573K | ﹤0.01% |
+32,370
| New | +$525K |
|
|
FPO
2445
DELISTED
First Potomac Realty Trust
FPO
| $572K | ﹤0.01% |
45,499
-32,201
| -41% | -$424K |
|
2446
Ambarella
AMBA
$3.1B
| $570K | ﹤0.01% |
+29,200
| New | +$497K |
|
|
CKH
2447
DELISTED
Seacor Holdings Inc.
CKH
| $570K | ﹤0.01% |
6,516
-1,971
| -23% | -$165K |
|
2448
Astronics
ATRO
$3.2B
| $569K | ﹤0.01% |
31,337
-39,419
| -56% | -$636K |
|
2449
CALL
Delta Air Lines
DAL
$55B
| $569K | ﹤0.01% |
24,100
+1,600
| +7% | +$33.3K |
|
2450
Palo Alto Networks
PANW
$277B
| $569K | ﹤0.01% |
74,454
+37,254
| +100% | +$294K |
|
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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.