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 | |
|---|---|---|---|---|---|---|
|
PLL
2451
DELISTED
PALL CORP
PLL
| $568K | ﹤0.01% |
7,379
-84,848
| -92% | -$6.08M |
|
2452
Herbalife
HLF
$1.35B
| $566K | ﹤0.01% |
16,212
-11,076
| -41% | -$343K |
|
2453
PUT
Guidewire Software
GWRE
$15.7B
| $565K | ﹤0.01% |
+12,000
| New | +$540K |
|
2454
Insperity
NSP
$2B
| $565K | ﹤0.01% |
30,060
-71,644
| -70% | -$1.21M |
|
2455
Clean Energy Fuels
CLNE
$346M
| $563K | ﹤0.01% |
44,061
+27,771
| +170% | +$357K |
|
2456
IDEX
IEX
$17B
| $563K | ﹤0.01% |
8,624
-92,643
| -91% | -$5.6M |
|
2457
Prologis
PLD
$136B
| $562K | ﹤0.01% |
14,942
-224,347
| -94% | -$8.46M |
|
|
REGI
2458
DELISTED
Renewable Energy Group, Inc.
REGI
| $562K | ﹤0.01% |
+37,125
| New | +$555K |
|
2459
PUT
Medtronic
MDT
$117B
| $559K | ﹤0.01% |
+10,500
| New | +$565K |
|
2460
CALL
Cognizant
CTSH
$28.4B
| $558K | ﹤0.01% |
+13,600
| New | +$505K |
|
|
DENN
2461
DELISTED
Denny's
DENN
| $557K | ﹤0.01% |
91,171
-292,166
| -76% | -$1.7M |
|
|
GNC
2462
CALL
DELISTED
GNC Holdings, Inc.
GNC
| $557K | ﹤0.01% |
+10,200
| New | +$521K |
|
|
SGMO
2463
DELISTED
SANGAMO THERAPEUTICS INC
SGMO
| $556K | ﹤0.01% |
53,034
+33,834
| +176% | +$336K |
|
2464
PUT
Vornado Realty Trust
VNO
$7.46B
| $555K | ﹤0.01% |
+9,021
| New | +$559K |
|
|
CAB
2465
CALL
DELISTED
Cabela's Inc
CAB
| $555K | ﹤0.01% |
8,800
-3,200
| -27% | -$213K |
|
|
POWR
2466
DELISTED
POWERSECURE INTL INC COM STK (DE)
POWR
| $555K | ﹤0.01% |
34,604
-22,904
| -40% | -$361K |
|
|
JCP
2467
CALL
DELISTED
J.C. Penney Company, Inc.
JCP
| $554K | ﹤0.01% |
62,800
-72,500
| -54% | -$1.03M |
|
|
BIG
2468
CALL
DELISTED
Big Lots, Inc.
BIG
| $553K | ﹤0.01% |
+14,900
| New | +$527K |
|
2469
Exelon
EXC
$45.7B
| $552K | ﹤0.01% |
26,122
-45,925
| -64% | -$1M |
|
2470
PUT
FedEx
FDX
$79B
| $548K | ﹤0.01% |
+4,800
| New | +$518K |
|
2471
Graham Holdings Company
GHC
$4.99B
| $548K | ﹤0.01% |
+1,485
| New | +$500K |
|
2472
CALL
Brookdale Senior Living
BKD
$2.91B
| $547K | ﹤0.01% |
+20,800
| New | +$570K |
|
|
BONT
2473
DELISTED
Bon-Ton Stores Inc/The
BONT
| $546K | ﹤0.01% |
51,768
+21,500
| +71% | +$331K |
|
2474
Sprott Physical Gold and Silver Trust
CEF
$8.35B
| $544K | ﹤0.01% |
37,000
+21,000
| +131% | +$313K |
|
2475
FNB Corp
FNB
$6.54B
| $543K | ﹤0.01% |
44,753
+24,548
| +121% | +$308K |
|
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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.