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 | |
|---|---|---|---|---|---|---|
|
EE
626
DELISTED
El Paso Electric Company
EE
| $23.9M | 0.04% |
477,689
-847,137
| -64% | -$47.7M |
|
627
Smith & Nephew
SNN
$12.4B
| $23.9M | 0.04% |
640,080
-1,193,610
| -65% | -$42.9M |
|
628
Alexandria Real Estate Equities
ARE
$9.3B
| $23.8M | 0.04% |
206,914
-218,771
| -51% | -$26.7M |
|
629
AXIS Capital
AXS
$7.25B
| $23.7M | 0.04% |
458,817
+112,077
| +32% | +$6.13M |
|
630
Natera
NTRA
$47.2B
| $23.7M | 0.04% |
1,695,217
-290,739
| -15% | -$5.31M |
|
|
HOME
631
DELISTED
At Home Group Inc.
HOME
| $23.6M | 0.04% |
1,263,786
+249,039
| +25% | +$6.33M |
|
632
Bausch Health
BHC
$2.5B
| $23.4M | 0.04% |
1,269,349
+750,415
| +145% | +$17.9M |
|
633
PUT
Expedia Group
EXPE
$40.7B
| $23.4M | 0.04% |
208,000
+164,300
| +376% | +$19.7M |
|
634
Semtech
SMTC
$11.3B
| $23.4M | 0.04% |
509,803
+306,116
| +150% | +$14.6M |
|
635
Designer Brands
DBI
$297M
| $23.4M | 0.04% |
945,549
+411,194
| +77% | +$11M |
|
636
Timken Company
TKR
$8.5B
| $23.3M | 0.04% |
624,463
-424,174
| -40% | -$17.2M |
|
637
Molina Healthcare
MOH
$10.4B
| $23.3M | 0.04% |
200,508
-530,169
| -73% | -$69.5M |
|
638
Ares Management
ARES
$31.6B
| $23.2M | 0.04% |
1,306,767
-1,017,121
| -44% | -$21.3M |
|
|
CRCM
639
DELISTED
CARE.COM, INC.
CRCM
| $23.2M | 0.04% |
1,201,397
+932,070
| +346% | +$16.9M |
|
640
HubSpot
HUBS
$12.2B
| $23.2M | 0.04% |
184,509
+14,681
| +9% | +$1.92M |
|
641
Biogen
BIIB
$32.2B
| $23.1M | 0.04% |
76,842
-189,643
| -71% | -$60.5M |
|
642
American Homes 4 Rent
AMH
$12.5B
| $23.1M | 0.04% |
1,162,970
-2,134,624
| -65% | -$43.7M |
|
|
RDS.B
643
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| $23.1M | 0.04% |
384,868
+150,420
| +64% | +$9.61M |
|
|
SWN
644
DELISTED
Southwestern Energy Company
SWN
| $23.1M | 0.04% |
6,761,667
-19,904,107
| -75% | -$97.9M |
|
|
NVO
645
CALL
Novo Nordisk
NVO
$207B
| $23M | 0.04% |
1,000,000
| – | – |
|
646
Paycom
PAYC
$10.3B
| $23M | 0.04% |
188,049
-283,033
| -60% | -$36.2M |
|
647
Performance Food Group
PFGC
$16.6B
| $22.9M | 0.04% |
710,547
+65,975
| +10% | +$2.09M |
|
648
Varonis Systems
VRNS
$4.72B
| $22.9M | 0.04% |
1,299,000
-149,487
| -10% | -$2.95M |
|
|
ABMD
649
DELISTED
Abiomed Inc
ABMD
| $22.8M | 0.04% |
+70,208
| New | +$24.4M |
|
650
Raymond James Financial
RJF
$34B
| $22.8M | 0.04% |
459,965
-75,789
| -14% | -$4.04M |
|
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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.