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 | |
|---|---|---|---|---|---|---|
26
Apple
AAPL
$4.51T
| $161M | 0.36% |
2,526,364
-3,070,096
| -55% | -$226M |
|
|
TIF
27
DELISTED
Tiffany & Co.
TIF
| $156M | 0.35% |
1,205,385
+781,328
| +184% | +$103M |
|
28
PUT
JPMorgan Chase
JPM
$935B
| $154M | 0.35% |
1,709,700
-814,300
| -32% | -$98.9M |
|
|
29
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.4B
| $144M | 0.32% |
2,751,527
+2,600,781
| +1,725% | +$138M |
|
30
PUT
Johnson & Johnson
JNJ
$651B
| $140M | 0.31% |
1,067,800
+414,300
| +63% | +$58.8M |
|
31
CALL
Netflix
NFLX
$331B
| $140M | 0.31% |
3,716,000
+87,000
| +2% | +$3.08M |
|
32
Amazon
AMZN
$2.79T
| $136M | 0.31% |
1,398,400
-1,231,500
| -47% | -$119M |
|
33
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $135M | 0.3% |
1,750,000
+870,000
| +99% | +$73.5M |
|
34
PUT
iShares US Real Estate ETF
IYR
$4.62B
| $134M | 0.3% |
1,932,100
+363,100
| +23% | +$32.1M |
|
35
PUT
Adobe
ADBE
$109B
| $134M | 0.3% |
422,300
-214,300
| -34% | -$73.3M |
|
36
CALL
VanEck Gold Miners ETF
GDX
$31.8B
| $134M | 0.3% |
5,816,800
+3,909,900
| +205% | +$107M |
|
|
37
Danaher
DHR
$154B
| $133M | 0.3% |
+1,082,448
| New | +$146M |
|
|
WMGI
38
DELISTED
Wright Medical Group Inc
WMGI
| $132M | 0.3% |
4,617,939
-1,023,481
| -18% | -$30.4M |
|
39
PUT
PayPal
PYPL
$52.7B
| $132M | 0.3% |
1,377,900
-146,900
| -10% | -$16.2M |
|
40
PUT
State Street Health Care Select Sector SPDR ETF
XLV
$45.5B
| $130M | 0.29% |
1,469,800
+493,800
| +51% | +$48M |
|
41
PUT
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.9B
| $130M | 0.29% |
2,386,300
+462,600
| +24% | +$28.1M |
|
42
Merck
MRK
$376B
| $128M | 0.29% |
1,749,927
+257,687
| +17% | +$20.3M |
|
43
McKesson
MCK
$100B
| $128M | 0.29% |
945,757
+80,098
| +9% | +$11.7M |
|
|
44
PUT
Merck
MRK
$376B
| $127M | 0.28% |
1,723,122
+1,199,227
| +229% | +$94.2M |
|
45
PUT
iShares Biotechnology ETF
IBB
$10.7B
| $126M | 0.28% |
1,171,600
-504,400
| -30% | -$58.1M |
|
46
PUT
Tesla
TSLA
$1.43T
| $126M | 0.28% |
3,595,500
-100,500
| -3% | -$4.17M |
|
47
PUT
Visa
V
$693B
| $124M | 0.28% |
770,700
-375,000
| -33% | -$70.6M |
|
48
Intel
INTC
$476B
| $124M | 0.28% |
2,291,645
-1,727,218
| -43% | -$102M |
|
|
49
JPMorgan Chase
JPM
$935B
| $122M | 0.27% |
1,353,087
+456,484
| +51% | +$55.5M |
|
50
Baxter International
BAX
$13.6B
| $122M | 0.27% |
1,497,399
+843,510
| +129% | +$72.8M |
|
Similar funds
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.