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 |
AGN
Allergan plc
AGN
|
+$200M |
| 2 |
Danaher
DHR
|
+$146M |
| 3 |
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
|
+$138M |
| 4 |
Procter & Gamble
PG
|
+$122M |
| 5 |
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
|
+$109M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$3.89B |
| 2 |
Microsoft
MSFT
|
+$380M |
| 3 |
Alibaba
BABA
|
+$352M |
| 4 |
Wells Fargo
WFC
|
+$245M |
| 5 |
American Electric Power
AEP
|
+$243M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 11.91% |
| 2 | Technology | 7.43% |
| 3 | Financials | 6.52% |
| 4 | Consumer Discretionary | 5.69% |
| 5 | Industrials | 4.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
3101
PUT
Estee Lauder
EL
$37.9B
| $319K | ﹤0.01% |
+2,000
| New | +$386K |
|
3102
XBiotech
XBIT
$70.4M
| $319K | ﹤0.01% |
30,047
-108,510
| -78% | -$1.77M |
|
3103
Biglari Holdings Class A
BH.A
$1.23B
| $318K | ﹤0.01% |
1,072
-210
| -16% | -$114K |
|
|
GAP
3104
PUT
The Gap Inc
GAP
$7.58B
| $317K | ﹤0.01% |
+45,000
| New | +$668K |
|
3105
Grocery Outlet
GO
$1.2B
| $316K | ﹤0.01% |
9,213
-5,041
| -35% | -$164K |
|
3106
CALL
Spotify
SPOT
$112B
| $316K | ﹤0.01% |
2,600
+1,200
| +86% | +$170K |
|
|
3107
PUT
Spotify
SPOT
$112B
| $316K | ﹤0.01% |
2,600
+1,200
| +86% | +$170K |
|
3108
AMES National
ATLO
$279M
| $315K | ﹤0.01% |
+15,427
| New | +$389K |
|
3109
Caledonia Mining Corp
CMCL
$477M
| $315K | ﹤0.01% |
+33,920
| New | +$320K |
|
|
KE
3110
Kimball Electronics
KE
$574M
| $315K | ﹤0.01% |
28,885
-89,322
| -76% | -$1.33M |
|
|
JNCE
3111
DELISTED
Jounce Therapeutics, Inc. Common Stock
JNCE
| $314K | ﹤0.01% |
66,126
+1,837
| +3% | +$10.6K |
|
3112
MetroCity Bankshares
MCBS
$1.01B
| $313K | ﹤0.01% |
+26,623
| New | +$400K |
|
3113
Mastech Digital
MHH
$91.1M
| $313K | ﹤0.01% |
+24,348
| New | +$309K |
|
3114
Cohen & Steers Infrastructure Fund
UTF
$3.06B
| $313K | ﹤0.01% |
+16,614
| New | +$399K |
|
3115
iShares MSCI Canada ETF
EWC
$6.92B
| $312K | ﹤0.01% |
14,281
-596,166
| -98% | -$16.3M |
|
3116
cbdMD
YCBD
$5.88M
| $312K | ﹤0.01% |
+931
| New | +$367K |
|
|
TA
3117
DELISTED
TravelCenters of America LLC
TA
| $311K | ﹤0.01% |
31,775
-8,036
| -20% | -$116K |
|
|
CNBKA
3118
DELISTED
Century Bancorp Inc/Mass
CNBKA
| $311K | ﹤0.01% |
5,000
+163
| +3% | +$12.9K |
|
3119
First Western Financial
MYFW
$299M
| $310K | ﹤0.01% |
23,251
-3,624
| -13% | -$59.7K |
|
3120
NovoCure
NVCR
$2.04B
| $310K | ﹤0.01% |
+4,606
| New | +$364K |
|
3121
Cummins
CMI
$79.7B
| $308K | ﹤0.01% |
2,276
-269,069
| -99% | -$42M |
|
3122
Stratasys
SSYS
$699M
| $308K | ﹤0.01% |
19,279
+9,134
| +90% | +$166K |
|
|
TLC
3123
DELISTED
Taiwan Liposome Company, Ltd. American Depository Shares
TLC
| $308K | ﹤0.01% |
83,208
| – | – |
|
3124
PUT
International Flavors & Fragrances
IFF
$22.3B
| $306K | ﹤0.01% |
+3,000
| New | +$374K |
|
3125
Axcelis
ACLS
$3.75B
| $305K | ﹤0.01% |
16,684
+5,156
| +45% | +$120K |
|
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Israel Englander's Q1 2020 Portfolio in Review
As of Q1 2020, Israel Englander held 4,928 positions worth $44.5B, down 44% from $79.9B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Israel Englander withdrew a net $21.4B in Q1 2020, closing 1,154 positions and reducing 1,745 holdings. Its most notable exit was Becton Dickinson, an estimated $152M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 12% of assets, up from 10% a quarter earlier, followed by Technology and Financials.
Against the trend, Israel Englander opened a new position in Danaher worth $133M.
- Israel Englander's largest Q1 2020 buy was Danaher: 1,082,448 shares worth $133M.
- Israel Englander added most to Allergan plc in Q1 2020, an estimated $200M increase.
- Israel Englander's biggest Q1 2020 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $3.89B.
- Israel Englander fully exited Becton Dickinson in Q1 2020, selling an estimated $152M.
- Israel Englander's ten largest holdings make up 18% of its $44.5B portfolio in Q1 2020.
- Israel Englander opened 789 new positions and closed 1,154 in Q1 2020.
- Israel Englander's portfolio value fell 44% quarter-over-quarter to $44.5B.
Based on Millennium Management's 13F filing for Q1 2020, filed 14 May 2020.