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 |
Procter & Gamble
PG
|
+$6.23B |
| 2 |
Coty
COTY
|
+$1.43B |
| 3 |
Microsoft
MSFT
|
+$237M |
| 4 |
GXP
Great Plains Energy Incorporated
GXP
|
+$199M |
| 5 |
eBay
EBAY
|
+$198M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charter Communications
CHTR
|
+$266M |
| 2 |
NextEra Energy
NEE
|
+$198M |
| 3 |
EMC
EMC CORPORATION
EMC
|
+$179M |
| 4 |
Exelon
EXC
|
+$150M |
| 5 |
Salesforce
CRM
|
+$150M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 17.22% |
| 2 | Healthcare | 10.7% |
| 3 | Energy | 9.08% |
| 4 | Technology | 8.88% |
| 5 | Financials | 8.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Procter & Gamble
PG
$336B
| $6.51B | 10.92% |
72,583,106
+71,771,293
| +8,841% | +$6.23B |
|
|
2
PUT
Procter & Gamble
PG
$336B
| $2.5B | 4.18% |
+27,800,000
| New | +$2.41B |
|
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $2.15B | 3.6% |
9,920,000
+338,600
| +4% | +$73.2M |
|
|
4
Coty
COTY
$2.41B
| $1.28B | 2.14% |
54,494,226
+54,028,140
| +11,592% | +$1.43B |
|
5
PG&E
PCG
$38.8B
| $390M | 0.65% |
6,374,445
+1,566,668
| +33% | +$99.5M |
|
6
Merck
MRK
$376B
| $339M | 0.57% |
5,700,517
+3,124,889
| +121% | +$183M |
|
7
Apple
AAPL
$4.51T
| $335M | 0.56% |
11,843,496
+6,055,368
| +105% | +$160M |
|
8
CMS Energy
CMS
$21.4B
| $313M | 0.52% |
7,444,332
+3,447,347
| +86% | +$151M |
|
9
Devon Energy
DVN
$54B
| $309M | 0.52% |
7,008,294
+3,170,054
| +83% | +$129M |
|
10
Meta Platforms (Facebook)
META
$1.4T
| $291M | 0.49% |
2,268,277
-262,338
| -10% | -$32.6M |
|
11
Alphabet (Google) Class A
GOOGL
$4.22T
| $291M | 0.49% |
7,235,460
+4,152,460
| +135% | +$162M |
|
|
12
Microsoft
MSFT
$3.59T
| $270M | 0.45% |
4,694,243
+4,197,200
| +844% | +$237M |
|
13
PUT
iShares Russell 2000 ETF
IWM
$81.9B
| $267M | 0.45% |
2,150,000
+2,100,000
| +4,200% | +$255M |
|
14
Pinnacle West Capital
PNW
$11.8B
| $263M | 0.44% |
3,467,111
+40,852
| +1% | +$3.18M |
|
15
Applied Materials
AMAT
$391B
| $256M | 0.43% |
8,491,359
-77,303
| -0.9% | -$2.16M |
|
|
16
eBay
EBAY
$46.3B
| $248M | 0.42% |
7,547,790
+6,563,722
| +667% | +$198M |
|
17
Fidelity National Information Services
FIS
$21.3B
| $242M | 0.41% |
3,136,116
+1,528,064
| +95% | +$119M |
|
|
APC
18
DELISTED
Anadarko Petroleum
APC
| $237M | 0.4% |
3,741,590
+2,349,484
| +169% | +$131M |
|
|
GXP
19
DELISTED
Great Plains Energy Incorporated
GXP
| $228M | 0.38% |
8,343,176
+6,940,540
| +495% | +$199M |
|
20
American Electric Power
AEP
$65.8B
| $223M | 0.37% |
3,478,691
-1,919,913
| -36% | -$129M |
|
21
Boston Scientific
BSX
$73B
| $222M | 0.37% |
9,338,783
-3,454,712
| -27% | -$82.4M |
|
22
Williams Companies
WMB
$86.2B
| $219M | 0.37% |
7,120,121
-374,713
| -5% | -$9.94M |
|
23
Bank of America
BAC
$431B
| $219M | 0.37% |
13,968,928
+12,208,476
| +693% | +$182M |
|
|
ZAYO
24
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $213M | 0.36% |
7,180,302
+2,591,532
| +56% | +$75M |
|
25
Marathon Petroleum
MPC
$101B
| $209M | 0.35% |
5,140,501
-577,720
| -10% | -$23.4M |
|
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Israel Englander's Q3 2016 Portfolio in Review
As of Q3 2016, Israel Englander held 3,956 positions worth $59.6B, up 37% from $43.7B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Israel Englander deployed $13.4B of net new capital in Q3 2016, opening 826 new positions and adding to 1,153 existing holdings. Its largest new stake was Edison International: 1,171,827 shares worth $84.7M.
By sector, the portfolio is most concentrated in Consumer Staples at 17% of assets, up from 6.3% a quarter earlier, followed by Healthcare and Energy.
On the sell side, the largest reduction was NextEra Energy, an estimated $198M trimmed.
- Israel Englander's largest Q3 2016 buy was Edison International: 1,171,827 shares worth $84.7M.
- Israel Englander added most to Procter & Gamble in Q3 2016, an estimated $6.23B increase.
- Israel Englander's biggest Q3 2016 reduction was NextEra Energy, cutting an estimated $198M.
- Israel Englander fully exited Charter Communications in Q3 2016, selling an estimated $266M.
- Israel Englander's ten largest holdings make up 24% of its $59.6B portfolio in Q3 2016.
- Israel Englander opened 826 new positions and closed 723 in Q3 2016.
- Israel Englander's portfolio value rose 37% quarter-over-quarter to $59.6B.
Based on Millennium Management's 13F filing for Q3 2016, filed 14 Nov 2016.