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 | |
|---|---|---|---|---|---|---|
151
CALL
State Street Utilities Select Sector SPDR ETF
XLU
$22.2B
| $52.9M | 0.12% |
1,909,800
-1,124,800
| -37% | -$36M |
|
|
GRFS
152
Grifois
GRFS
$5.44B
| $52.5M | 0.12% |
2,605,931
-1,641,545
| -39% | -$36.8M |
|
153
PUT
Verizon
VZ
$205B
| $52.2M | 0.12% |
971,200
-442,700
| -31% | -$25.3M |
|
154
PUT
Morgan Stanley
MS
$336B
| $52M | 0.12% |
1,530,200
-1,884,800
| -55% | -$88.8M |
|
155
Clorox
CLX
$12.9B
| $51.8M | 0.12% |
298,893
+285,945
| +2,208% | +$47.2M |
|
156
CALL
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $51.3M | 0.12% |
1,501,600
+436,200
| +41% | +$17.9M |
|
157
Applied Materials
AMAT
$391B
| $51.1M | 0.11% |
1,115,779
-592,216
| -35% | -$34M |
|
|
ADSW
158
DELISTED
Advanced Disposal Services Inc
ADSW
| $50.9M | 0.11% |
1,550,764
+840,879
| +118% | +$27.6M |
|
159
Humana
HUM
$45.5B
| $50.3M | 0.11% |
160,286
-19,446
| -11% | -$6.56M |
|
160
PUT
Boeing
BA
$169B
| $50M | 0.11% |
335,200
+130,000
| +63% | +$35.6M |
|
161
CALL
Visa
V
$693B
| $49.9M | 0.11% |
309,400
+56,000
| +22% | +$10.5M |
|
|
162
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $49.8M | 0.11% |
1,459,623
+21,776
| +2% | +$893K |
|
163
PUT
iShares MSCI Brazil ETF
EWZ
$8.52B
| $49.4M | 0.11% |
2,095,400
-123,300
| -6% | -$4.76M |
|
164
Louisiana-Pacific
LPX
$5.12B
| $48.6M | 0.11% |
2,828,616
-329,956
| -10% | -$9.13M |
|
165
Yum! Brands
YUM
$41.8B
| $48.3M | 0.11% |
704,697
+230,723
| +49% | +$21.5M |
|
166
CALL
iShares Biotechnology ETF
IBB
$10.7B
| $47.8M | 0.11% |
444,000
+184,000
| +71% | +$21.2M |
|
167
CALL
AT&T
T
$173B
| $47.5M | 0.11% |
2,157,326
+1,808,452
| +518% | +$49.4M |
|
168
Johnson & Johnson
JNJ
$651B
| $47.5M | 0.11% |
361,943
-748,541
| -67% | -$106M |
|
169
Williams Companies
WMB
$86.2B
| $47.3M | 0.11% |
3,339,930
-3,232,374
| -49% | -$62.6M |
|
|
MLNX
170
CALL
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $47M | 0.11% |
387,200
+212,400
| +122% | +$25M |
|
|
XYZ
171
Block Inc
XYZ
$49.4B
| $46.9M | 0.11% |
896,096
+316,490
| +55% | +$21.6M |
|
172
PUT
Starbucks
SBUX
$122B
| $45.7M | 0.1% |
695,800
-757,100
| -52% | -$61.2M |
|
173
Regeneron Pharmaceuticals
REGN
$85.9B
| $45.6M | 0.1% |
93,380
-5,426
| -5% | -$2.24M |
|
174
CALL
Gilead Sciences
GILD
$181B
| $45.5M | 0.1% |
608,800
-174,500
| -22% | -$12.1M |
|
|
BMY.RT
175
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
| $45.5M | 0.1% |
11,973,064
-4,073,886
| -25% | -$13.4M |
|
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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.