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 | |
|---|---|---|---|---|---|---|
101
Wintrust Financial
WTFC
$10.3B
| $128M | 0.2% |
1,923,590
+515,719
| +37% | +$39.2M |
|
|
ARRS
102
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $126M | 0.2% |
4,132,241
+4,067,012
| +6,235% | +$113M |
|
103
RTX Corp
RTX
$283B
| $125M | 0.2% |
1,871,470
+539,348
| +40% | +$42.3M |
|
104
Berkshire Hathaway Class B
BRK.B
$1.06T
| $125M | 0.19% |
612,184
+561,716
| +1,113% | +$117M |
|
|
PPLI
105
People Inc
PPLI
$2.86B
| $124M | 0.19% |
3,798,912
+16,898
| +0.4% | +$567K |
|
106
Progressive
PGR
$127B
| $124M | 0.19% |
2,057,249
+448,689
| +28% | +$29.9M |
|
107
O'Reilly Automotive
ORLY
$72.1B
| $124M | 0.19% |
5,381,790
+1,131,420
| +27% | +$25.8M |
|
108
Constellation Brands
STZ
$23.2B
| $122M | 0.19% |
761,442
+117,877
| +18% | +$23.4M |
|
109
Thermo Fisher Scientific
TMO
$233B
| $122M | 0.19% |
543,651
+452,552
| +497% | +$106M |
|
110
Axalta
AXTA
$7.75B
| $122M | 0.19% |
5,188,939
+3,025,348
| +140% | +$75.2M |
|
111
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $121M | 0.19% |
485,700
-5,964,600
| -92% | -$1.61B |
|
112
EQT Corp
EQT
$33.6B
| $121M | 0.19% |
6,387,529
+5,760,324
| +918% | +$117M |
|
113
Cigna
CI
$73.3B
| $120M | 0.19% |
629,738
+156,233
| +33% | +$32.6M |
|
114
General Motors
GM
$77.2B
| $119M | 0.19% |
3,568,341
+1,487,870
| +72% | +$51.3M |
|
|
DNB
115
DELISTED
Dun & Bradstreet
DNB
| $119M | 0.19% |
834,948
-312,247
| -27% | -$44.5M |
|
116
Fortinet
FTNT
$113B
| $119M | 0.19% |
8,445,775
+7,449,635
| +748% | +$113M |
|
|
WMGI
117
DELISTED
Wright Medical Group Inc
WMGI
| $118M | 0.18% |
4,338,589
+213,779
| +5% | +$5.91M |
|
118
Cadence Design Systems
CDNS
$87.9B
| $117M | 0.18% |
2,695,739
+1,196,155
| +80% | +$51.9M |
|
119
Hartford Financial Services
HIG
$36.9B
| $115M | 0.18% |
2,598,133
+60,960
| +2% | +$2.74M |
|
|
120
PUT
Microsoft
MSFT
$3.59T
| $115M | 0.18% |
1,134,700
+140,800
| +14% | +$15.1M |
|
121
Palo Alto Networks
PANW
$292B
| $115M | 0.18% |
3,650,724
-385,692
| -10% | -$12M |
|
122
D.R. Horton
DHI
$41.5B
| $113M | 0.18% |
3,272,712
+550,463
| +20% | +$20.1M |
|
123
Allstate
ALL
$64.2B
| $112M | 0.18% |
1,360,631
+156,796
| +13% | +$14.1M |
|
|
HRC
124
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
| $112M | 0.18% |
1,268,104
+1,029,850
| +432% | +$93.5M |
|
125
Helmerich & Payne
HP
$4.35B
| $111M | 0.17% |
2,322,923
+2,256,030
| +3,373% | +$139M |
|
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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.