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 | |
|---|---|---|---|---|---|---|
101
Mondelez International
MDLZ
$82.3B
| $74.3M | 0.17% |
1,483,891
+1,042,962
| +237% | +$56.5M |
|
102
Willis Towers Watson
WTW
$31.8B
| $73.6M | 0.17% |
433,046
+253,800
| +142% | +$49.9M |
|
|
BBL
103
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
| $73.5M | 0.17% |
2,421,157
+939,959
| +63% | +$37M |
|
104
Elevance Health
ELV
$86.9B
| $72.3M | 0.16% |
318,564
+26,878
| +9% | +$7.32M |
|
|
TGE
105
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
| $72.1M | 0.16% |
4,379,131
+3,839,668
| +712% | +$78.5M |
|
|
ALXN
106
DELISTED
Alexion Pharmaceuticals
ALXN
| $70.4M | 0.16% |
784,323
+641,975
| +451% | +$63M |
|
107
Salesforce
CRM
$171B
| $69.7M | 0.16% |
484,099
-102,150
| -17% | -$17.5M |
|
108
S&P Global
SPGI
$127B
| $69.6M | 0.16% |
284,175
-429,526
| -60% | -$118M |
|
109
PUT
Broadcom
AVGO
$1.75T
| $69.5M | 0.16% |
2,930,000
-3,248,000
| -53% | -$91.5M |
|
110
ServiceNow
NOW
$133B
| $69.2M | 0.16% |
1,208,155
+940,275
| +351% | +$58.8M |
|
111
PUT
Home Depot
HD
$335B
| $67.3M | 0.15% |
360,500
-130,300
| -27% | -$28.6M |
|
112
PUT
Citigroup
C
$221B
| $67.2M | 0.15% |
1,594,800
+249,000
| +19% | +$16.7M |
|
113
PUT
Walt Disney
DIS
$186B
| $67M | 0.15% |
693,500
+233,600
| +51% | +$29.5M |
|
114
Union Pacific
UNP
$183B
| $66.1M | 0.15% |
468,673
-305,367
| -39% | -$50.5M |
|
115
CALL
iShares US Real Estate ETF
IYR
$4.62B
| $66M | 0.15% |
948,100
+875,500
| +1,206% | +$77.5M |
|
|
EA
116
DELISTED
Electronic Arts
EA
| $65.3M | 0.15% |
651,896
+612,023
| +1,535% | +$64.4M |
|
117
Bristol-Myers Squibb
BMY
$137B
| $64.4M | 0.14% |
1,155,663
+873,406
| +309% | +$53.4M |
|
118
PUT
Gilead Sciences
GILD
$181B
| $64M | 0.14% |
856,400
+105,300
| +14% | +$7.28M |
|
|
119
Wells Fargo
WFC
$254B
| $63.2M | 0.14% |
2,202,978
-5,757,838
| -72% | -$245M |
|
120
State Street Technology Select Sector SPDR ETF
XLK
$120B
| $63.2M | 0.14% |
1,572,522
+496,584
| +46% | +$22.7M |
|
121
Tesla
TSLA
$1.43T
| $62.8M | 0.14% |
1,796,820
+1,206,165
| +204% | +$50M |
|
122
PUT
PepsiCo
PEP
$196B
| $62.5M | 0.14% |
520,100
-18,000
| -3% | -$2.43M |
|
123
Altria Group
MO
$110B
| $62.3M | 0.14% |
1,610,595
-1,528,623
| -49% | -$67.8M |
|
124
Camden Property Trust
CPT
$10.8B
| $62M | 0.14% |
783,047
-253,470
| -24% | -$26.4M |
|
125
PayPal
PYPL
$52.7B
| $62M | 0.14% |
647,476
+77,832
| +14% | +$8.59M |
|
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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.