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 | |
|---|---|---|---|---|---|---|
776
PUT
Automatic Data Processing
ADP
$113B
| $11.1M | 0.02% |
+81,200
| New | +$13.1M |
|
|
MFA
777
MFA Financial
MFA
$904M
| $11.1M | 0.02% |
1,786,324
+1,212,728
| +211% | +$32.3M |
|
778
PUT
Honeywell
HON
$68.1B
| $11.1M | 0.02% |
87,745
-119,044
| -58% | -$18.4M |
|
779
GDS Holdings
GDS
$6.37B
| $11M | 0.02% |
190,594
+119,403
| +168% | +$6.66M |
|
|
NATI
780
DELISTED
National Instruments Corp
NATI
| $11M | 0.02% |
333,453
+125,576
| +60% | +$5.02M |
|
781
CALL
AbbVie
ABBV
$468B
| $11M | 0.02% |
144,600
-396,900
| -73% | -$33.8M |
|
782
PUT
Vertex Pharmaceuticals
VRTX
$139B
| $11M | 0.02% |
+46,300
| New | +$10.6M |
|
|
COUP
783
DELISTED
Coupa Software Incorporated
COUP
| $11M | 0.02% |
78,738
+65,458
| +493% | +$10.1M |
|
784
OR Royalties Inc
OR
$6.81B
| $11M | 0.02% |
1,478,199
+1,455,337
| +6,366% | +$12.9M |
|
|
KSU
785
PUT
DELISTED
Kansas City Southern
KSU
| $11M | 0.02% |
86,400
-1,600
| -2% | -$244K |
|
786
Ciena
CIEN
$52B
| $11M | 0.02% |
275,992
-840,639
| -75% | -$34.5M |
|
787
Winnebago Industries
WGO
$899M
| $11M | 0.02% |
394,609
+120,739
| +44% | +$5.83M |
|
788
Alnylam Pharmaceuticals
ALNY
$31.1B
| $11M | 0.02% |
100,771
-17,491
| -15% | -$2.02M |
|
789
CALL
Union Pacific
UNP
$184B
| $10.9M | 0.02% |
77,600
+67,700
| +684% | +$11.2M |
|
790
Dynatrace
DT
$14.3B
| $10.9M | 0.02% |
+457,884
| New | +$13.2M |
|
791
Akamai
AKAM
$15.4B
| $10.9M | 0.02% |
119,189
+29,138
| +32% | +$2.7M |
|
792
Teva Pharmaceuticals
TEVA
$43.1B
| $10.9M | 0.02% |
1,209,277
+409,411
| +51% | +$4.19M |
|
793
Mueller Water Products
MWA
$3.94B
| $10.8M | 0.02% |
1,354,509
-736,259
| -35% | -$8.09M |
|
794
Knowles
KN
$2.79B
| $10.8M | 0.02% |
809,624
-499,518
| -38% | -$8.68M |
|
|
TWNK
795
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $10.8M | 0.02% |
1,013,398
-1,121,368
| -53% | -$14.2M |
|
796
Ball Corp
BALL
$17B
| $10.8M | 0.02% |
167,002
+79,892
| +92% | +$5.59M |
|
797
Morningstar
MORN
$8.15B
| $10.8M | 0.02% |
92,655
+2,584
| +3% | +$374K |
|
798
Uber
UBER
$161B
| $10.8M | 0.02% |
385,716
-1,669,100
| -81% | -$54.9M |
|
|
SFTW.U
799
DELISTED
Osprey Technology Acquisition Corp. Units, each consisting of one share of Class A Common Stock and
SFTW.U
| $10.7M | 0.02% |
1,100,945
-422,905
| -28% | -$4.31M |
|
|
SRTA
800
Strata Critical Medical Inc
SRTA
$533M
| $10.7M | 0.02% |
1,109,428
+559,428
| +102% | +$5.55M |
|
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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.