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 | |
|---|---|---|---|---|---|---|
51
PUT
Costco
COST
$420B
| $116M | 0.26% |
405,200
+58,500
| +17% | +$17.8M |
|
52
PUT
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $112M | 0.25% |
3,283,200
-921,300
| -22% | -$37.8M |
|
53
PUT
Berkshire Hathaway Class B
BRK.B
$1.06T
| $109M | 0.24% |
595,000
-50,000
| -8% | -$10.6M |
|
|
54
Alibaba
BABA
$286B
| $109M | 0.24% |
558,761
-1,687,821
| -75% | -$352M |
|
55
Pfizer
PFE
$160B
| $106M | 0.24% |
3,421,954
-1,749,737
| -34% | -$59.6M |
|
|
56
Microsoft
MSFT
$3.59T
| $105M | 0.24% |
668,719
-2,312,812
| -78% | -$380M |
|
57
NVIDIA
NVDA
$5.2T
| $104M | 0.23% |
15,823,640
-14,938,200
| -49% | -$94.3M |
|
58
Dollar General
DG
$27.2B
| $102M | 0.23% |
678,519
-296,882
| -30% | -$45.8M |
|
59
PUT
Salesforce
CRM
$171B
| $102M | 0.23% |
709,200
+48,200
| +7% | +$8.26M |
|
60
PUT
Micron Technology
MU
$1.09T
| $102M | 0.23% |
2,420,300
-132,900
| -5% | -$6.91M |
|
61
PUT
Intel
INTC
$476B
| $102M | 0.23% |
1,879,400
-246,300
| -12% | -$14.6M |
|
|
62
PUT
Alibaba
BABA
$286B
| $101M | 0.23% |
517,500
+159,700
| +45% | +$33.3M |
|
63
PUT
Bristol-Myers Squibb
BMY
$137B
| $98.7M | 0.22% |
1,770,500
-334,100
| -16% | -$20.4M |
|
64
PUT
Charter Communications
CHTR
$17.9B
| $97.6M | 0.22% |
223,700
-38,300
| -15% | -$18.7M |
|
65
Boston Scientific
BSX
$73B
| $95.7M | 0.22% |
2,932,551
-1,322,544
| -31% | -$51.7M |
|
66
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$137M
| $95.5M | 0.21% |
32,260
+20,401
| +172% | +$33.2M |
|
67
Bank of America
BAC
$431B
| $94.8M | 0.21% |
4,464,628
-6,371,456
| -59% | -$191M |
|
68
Chevron
CVX
$403B
| $94.5M | 0.21% |
1,304,167
-102,544
| -7% | -$10.1M |
|
69
Fidelity National Information Services
FIS
$21.3B
| $93.9M | 0.21% |
772,220
-540,343
| -41% | -$75M |
|
70
Advanced Micro Devices
AMD
$773B
| $93.6M | 0.21% |
2,058,683
+982,654
| +91% | +$47.3M |
|
|
71
CALL
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$137M
| $92.5M | 0.21% |
31,250
-2,344
| -7% | -$3.81M |
|
72
American Tower
AMT
$81.9B
| $92.1M | 0.21% |
423,052
+285,722
| +208% | +$66.5M |
|
73
Visa
V
$693B
| $91.8M | 0.21% |
569,844
-134,238
| -19% | -$25.3M |
|
74
AT&T
T
$173B
| $91.4M | 0.21% |
4,151,729
+2,797,188
| +207% | +$76.4M |
|
|
75
PUT
Bank of America
BAC
$431B
| $90.7M | 0.2% |
4,272,300
-2,793,200
| -40% | -$83.7M |
|
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.