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 | |
|---|---|---|---|---|---|---|
|
PAE
1601
DELISTED
PAE Incorporated Class A Common Stock
PAE
| $3.41M | 0.01% |
+525,751
| New | +$5.11M |
|
1602
M&T Bank
MTB
$34.7B
| $3.41M | 0.01% |
32,933
-104,340
| -76% | -$15.4M |
|
1603
Valley National Bancorp
VLY
$7.79B
| $3.4M | 0.01% |
465,805
-54,459
| -10% | -$533K |
|
1604
Trinity Industries
TRN
$2.36B
| $3.4M | 0.01% |
211,666
-805,295
| -79% | -$16.1M |
|
1605
MKS Inc
MKSI
$18.3B
| $3.39M | 0.01% |
41,641
-49,909
| -55% | -$5.11M |
|
1606
Precigen
PGEN
$2.61B
| $3.39M | 0.01% |
997,181
+176,298
| +21% | +$761K |
|
1607
Madrigal Pharmaceuticals
MDGL
$11.8B
| $3.39M | 0.01% |
+50,747
| New | +$4.23M |
|
1608
Ionis Pharmaceuticals
IONS
$10.6B
| $3.38M | 0.01% |
71,592
+61,528
| +611% | +$3.43M |
|
|
MODN
1609
DELISTED
MODEL N, INC.
MODN
| $3.38M | 0.01% |
152,297
-319,526
| -68% | -$9.33M |
|
1610
Porch Group
PRCH
$1.98B
| $3.38M | 0.01% |
+350,000
| New | +$3.44M |
|
|
MTSC
1611
DELISTED
MTS Systems Corp
MTSC
| $3.37M | 0.01% |
+149,908
| New | +$5.89M |
|
|
HTO
1612
H2O America
HTO
$2.67B
| $3.37M | 0.01% |
+58,241
| New | +$3.92M |
|
1613
PUT
Royal Caribbean
RCL
$78.2B
| $3.36M | 0.01% |
104,500
-147,700
| -59% | -$13.5M |
|
1614
Credit Acceptance
CACC
$6.27B
| $3.36M | 0.01% |
13,140
+2,332
| +22% | +$941K |
|
1615
Franklin Electric
FELE
$4.5B
| $3.36M | 0.01% |
71,228
-31,969
| -31% | -$1.76M |
|
|
MOBL
1616
DELISTED
MobileIron, Inc.
MOBL
| $3.35M | 0.01% |
881,105
-192,136
| -18% | -$824K |
|
|
CTRA
1617
PUT
DELISTED
Coterra Energy
CTRA
| $3.35M | 0.01% |
194,600
-69,100
| -26% | -$1.09M |
|
|
KYNB
1618
Kyntra Bio
KYNB
$32.8M
| $3.34M | 0.01% |
3,844
+3,625
| +1,655% | +$3.6M |
|
1619
Liberty Latin America Class C
LILAK
$1.67B
| $3.34M | 0.01% |
+379,948
| New | +$5.12M |
|
1620
First Commonwealth Financial
FCF
$2.09B
| $3.33M | 0.01% |
364,899
-22,266
| -6% | -$276K |
|
1621
Capital Southwest
CSWC
$1.61B
| $3.33M | 0.01% |
291,783
-35,223
| -11% | -$637K |
|
1622
Corpay
CPAY
$27.1B
| $3.33M | 0.01% |
17,858
-68,465
| -79% | -$18.9M |
|
1623
Caterpillar
CAT
$373B
| $3.33M | 0.01% |
28,650
-550,268
| -95% | -$70.3M |
|
1624
Snap
SNAP
$10B
| $3.32M | 0.01% |
279,468
-3,404,116
| -92% | -$52.2M |
|
1625
American Eagle Outfitters
AEO
$2.8B
| $3.32M | 0.01% |
417,464
-1,467,483
| -78% | -$18.6M |
|
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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.