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 | |
|---|---|---|---|---|---|---|
|
PPLI
76
People Inc
PPLI
$2.86B
| $89.2M | 0.2% |
2,784,527
+515,259
| +23% | +$20.4M |
|
77
CME Group
CME
$98.9B
| $88.1M | 0.2% |
509,271
-10,562
| -2% | -$2.1M |
|
78
Goldman Sachs
GS
$303B
| $88M | 0.2% |
569,478
-326,314
| -36% | -$69.3M |
|
79
Costco
COST
$420B
| $86.7M | 0.19% |
304,186
+145,620
| +92% | +$44.2M |
|
80
Comcast
CMCSA
$95.3B
| $86.4M | 0.19% |
2,511,749
+1,038,899
| +71% | +$43.8M |
|
81
Stryker
SYK
$126B
| $85.2M | 0.19% |
511,995
+299,396
| +141% | +$58.5M |
|
82
PUT
State Street Materials Select Sector SPDR ETF
XLB
$8.87B
| $84.2M | 0.19% |
3,740,800
-1,584,000
| -30% | -$43.5M |
|
83
CALL
NVIDIA
NVDA
$5.2T
| $84.2M | 0.19% |
12,772,000
-1,424,000
| -10% | -$8.98M |
|
|
RDS.B
84
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| $83.9M | 0.19% |
2,569,378
+2,319,010
| +926% | +$109M |
|
85
PepsiCo
PEP
$196B
| $83.2M | 0.19% |
692,904
+442,798
| +177% | +$59.8M |
|
86
United Therapeutics
UTHR
$22B
| $80.6M | 0.18% |
849,546
-263,377
| -24% | -$25M |
|
87
Intercontinental Exchange
ICE
$90.5B
| $80.2M | 0.18% |
992,603
-106,036
| -10% | -$9.61M |
|
88
iShares Core S&P 500 ETF
IVV
$893B
| $80.1M | 0.18% |
309,872
+277,325
| +852% | +$85M |
|
89
Target
TGT
$75.1B
| $78.8M | 0.18% |
847,941
+422,256
| +99% | +$46.9M |
|
90
PUT
Cisco
CSCO
$438B
| $78.5M | 0.18% |
1,997,300
+385,500
| +24% | +$16.9M |
|
91
PUT
AT&T
T
$173B
| $78.4M | 0.18% |
3,563,016
+2,763,585
| +346% | +$75.5M |
|
92
PUT
AbbVie
ABBV
$468B
| $78.4M | 0.18% |
1,029,100
+363,000
| +54% | +$30.9M |
|
93
PUT
Nike
NKE
$60.5B
| $78M | 0.18% |
942,400
+40,300
| +4% | +$3.75M |
|
94
RTX Corp
RTX
$283B
| $77.8M | 0.17% |
1,311,370
-631,659
| -33% | -$53.5M |
|
95
Citigroup
C
$221B
| $77.6M | 0.17% |
1,842,577
+922,094
| +100% | +$61.9M |
|
96
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.5B
| $76.5M | 0.17% |
2,347,700
-1,000
| -0% | -$49K |
|
|
ATVI
97
DELISTED
Activision Blizzard
ATVI
| $75.9M | 0.17% |
1,275,458
+427,919
| +50% | +$25.4M |
|
98
Texas Instruments
TXN
$241B
| $75.7M | 0.17% |
757,898
-968
| -0.1% | -$116K |
|
99
SBA Communications
SBAC
$19.4B
| $75M | 0.17% |
277,893
+140,718
| +103% | +$37.1M |
|
100
CALL
JPMorgan Chase
JPM
$935B
| $75M | 0.17% |
833,200
+100,400
| +14% | +$12.2M |
|
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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.