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 |
CELG
Celgene Corp
CELG
|
+$379M |
| 2 |
Starbucks
SBUX
|
+$371M |
| 3 |
APC
Anadarko Petroleum
APC
|
+$287M |
| 4 |
Bristol-Myers Squibb
BMY
|
+$263M |
| 5 |
Tesla
TSLA
|
+$253M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fortive
FTV
|
+$1.27B |
| 2 |
ANDV
Andeavor
ANDV
|
+$1.11B |
| 3 |
AET
Aetna Inc
AET
|
+$535M |
| 4 |
Microsoft
MSFT
|
+$350M |
| 5 |
Amazon
AMZN
|
+$290M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 13.69% |
| 2 | Technology | 13.64% |
| 3 | Financials | 12.49% |
| 4 | Consumer Discretionary | 10.83% |
| 5 | Industrials | 9.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
Freeport-McMoran
FCX
$112B
| $49.2M | 0.08% |
4,773,024
+895,252
| +23% | +$10.4M |
|
|
ZAYO
352
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $49.2M | 0.08% |
2,154,017
+945,364
| +78% | +$25.9M |
|
353
PUT
Wabtec
WAB
$50.3B
| $49.2M | 0.08% |
700,000
+300,000
| +75% | +$26.2M |
|
354
JPMorgan Chase
JPM
$947B
| $49.1M | 0.08% |
503,454
-1,402,616
| -74% | -$149M |
|
|
MASI
355
DELISTED
Masimo
MASI
| $48.8M | 0.08% |
454,173
-650,185
| -59% | -$72.5M |
|
356
American Electric Power
AEP
$66.4B
| $48.6M | 0.08% |
649,948
+115,878
| +22% | +$8.7M |
|
|
ADSW
357
DELISTED
Advanced Disposal Services Inc
ADSW
| $48.5M | 0.08% |
2,024,809
+181,392
| +10% | +$4.69M |
|
358
Cencora
COR
$61.8B
| $48.5M | 0.08% |
651,384
+626,591
| +2,527% | +$54M |
|
359
Federal Realty Investment Trust
FRT
$10.2B
| $48M | 0.07% |
406,596
-42,754
| -10% | -$5.37M |
|
360
Core Laboratories
CLB
$553M
| $47.6M | 0.07% |
797,161
+585,945
| +277% | +$50.6M |
|
361
Blackrock
BLK
$182B
| $47.5M | 0.07% |
120,904
+119,416
| +8,025% | +$48.9M |
|
362
Novartis
NVS
$300B
| $47.3M | 0.07% |
615,255
-941,759
| -60% | -$73.3M |
|
363
iShares Biotechnology ETF
IBB
$10.7B
| $46.9M | 0.07% |
486,660
+425,453
| +695% | +$45.2M |
|
364
Owens Corning
OC
$11.6B
| $46.5M | 0.07% |
1,057,016
+965,621
| +1,057% | +$46.8M |
|
365
Delek US
DK
$4.17B
| $46.5M | 0.07% |
1,429,865
+1,309,931
| +1,092% | +$49.5M |
|
366
Cactus
WHD
$5.46B
| $46.3M | 0.07% |
1,690,127
+16,863
| +1% | +$552K |
|
367
Jabil
JBL
$31.9B
| $46.1M | 0.07% |
1,858,462
+1,563,273
| +530% | +$38.2M |
|
368
McDonald's
MCD
$193B
| $46M | 0.07% |
258,950
+237,851
| +1,127% | +$42.2M |
|
369
DaVita
DVA
$11.3B
| $46M | 0.07% |
893,150
-621,467
| -41% | -$39.8M |
|
370
Tapestry
TPR
$26.4B
| $45.7M | 0.07% |
1,355,044
-64,039
| -5% | -$2.58M |
|
|
NEWR
371
DELISTED
New Relic, Inc.
NEWR
| $45.4M | 0.07% |
560,573
-74,012
| -12% | -$6.23M |
|
372
Teradyne
TER
$57B
| $45M | 0.07% |
1,435,489
+813,110
| +131% | +$27.6M |
|
|
BBL
373
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
| $45M | 0.07% |
1,073,928
-404,536
| -27% | -$16.6M |
|
374
Verizon
VZ
$208B
| $45M | 0.07% |
800,176
-1,927,601
| -71% | -$109M |
|
375
Teladoc Health
TDOC
$1.13B
| $45M | 0.07% |
907,382
-524,493
| -37% | -$32.1M |
|
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Israel Englander's Q4 2018 Portfolio in Review
As of Q4 2018, Israel Englander held 4,541 positions worth $64.1B, down 21% from $81.6B the previous quarter. Its ten largest holdings account for 6.7% of the portfolio.
Israel Englander withdrew a net $4.25B in Q4 2018, closing 844 positions and reducing 1,571 holdings. Its most notable exit was Andeavor, an estimated $1.11B position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 14% of assets, up from 12% a quarter earlier, followed by Technology and Financials.
Against the trend, Israel Englander opened a new position in Athenahealth, Inc. worth $135M.
- Israel Englander's largest Q4 2018 buy was Athenahealth, Inc.: 1,022,505 shares worth $135M.
- Israel Englander added most to Celgene Corp in Q4 2018, an estimated $379M increase.
- Israel Englander's biggest Q4 2018 reduction was Fortive, cutting an estimated $1.27B.
- Israel Englander fully exited Andeavor in Q4 2018, selling an estimated $1.11B.
- Israel Englander's ten largest holdings make up 6.7% of its $64.1B portfolio in Q4 2018.
- Israel Englander opened 702 new positions and closed 844 in Q4 2018.
- Israel Englander's portfolio value fell 21% quarter-over-quarter to $64.1B.
Based on Millennium Management's 13F filing for Q4 2018, filed 14 Feb 2019.