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 | Miscellaneous | 10.87% |
| 5 | Consumer Discretionary | 10.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1976
Vericel Corp
VCEL
$2.11B
| $2.81M | ﹤0.01% |
161,559
-133,388
| -45% | -$2M |
|
|
ZIXI
1977
DELISTED
Zix Corporation
ZIXI
| $2.81M | ﹤0.01% |
489,609
+289,437
| +145% | +$1.73M |
|
1978
Amphastar Pharmaceuticals
AMPH
$931M
| $2.8M | ﹤0.01% |
140,507
+56,001
| +66% | +$1.1M |
|
|
ELP
1979
DELISTED
Companhia Paranaense de Energia (COPEL)
ELP
| $2.79M | ﹤0.01% |
890,070
+10,005
| +1% | +$29.6K |
|
1980
FTI Consulting
FCN
$4.2B
| $2.78M | ﹤0.01% |
41,708
-99,743
| -71% | -$6.7M |
|
1981
Melco Resorts & Entertainment
MLCO
$1.97B
| $2.78M | ﹤0.01% |
157,590
+140,717
| +834% | +$2.51M |
|
1982
Trade Desk
TTD
$6.31B
| $2.77M | ﹤0.01% |
+238,930
| New | +$2.99M |
|
1983
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
| $2.77M | ﹤0.01% |
34,100
-4,666,000
| -99% | -$391M |
|
|
BEAT
1984
DELISTED
BioTelemetry, Inc.
BEAT
| $2.76M | ﹤0.01% |
46,265
-92,491
| -67% | -$5.55M |
|
|
PVG
1985
DELISTED
PRETIUM RESOURCES INC.
PVG
| $2.76M | ﹤0.01% |
326,098
+299,239
| +1,114% | +$2.34M |
|
1986
NETSCOUT
NTCT
$2.87B
| $2.74M | ﹤0.01% |
116,129
-66,956
| -37% | -$1.69M |
|
1987
PUT
Boeing
BA
$166B
| $2.74M | ﹤0.01% |
+8,500
| New | +$2.94M |
|
1988
ONE Gas
OGS
$5B
| $2.74M | ﹤0.01% |
34,380
-28,250
| -45% | -$2.33M |
|
|
ARD
1989
DELISTED
Ardagh Group S.A. Class A Common Shares
ARD
| $2.74M | ﹤0.01% |
246,902
+96,314
| +64% | +$1.29M |
|
1990
iShares Floating Rate Bond ETF
FLOT
$10.6B
| $2.73M | ﹤0.01% |
54,307
-45,482
| -46% | -$2.31M |
|
1991
Encore Capital Group
ECPG
$2.16B
| $2.73M | ﹤0.01% |
116,045
-281,100
| -71% | -$7.55M |
|
1992
Community Bank
CBU
$3.32B
| $2.72M | ﹤0.01% |
46,648
+38,061
| +443% | +$2.3M |
|
1993
QCR Holdings
QCRH
$1.65B
| $2.72M | ﹤0.01% |
84,629
+19,598
| +30% | +$707K |
|
1994
Quad
QUAD
$518M
| $2.71M | ﹤0.01% |
220,012
+143,403
| +187% | +$2.31M |
|
1995
Moderna
MRNA
$57B
| $2.71M | ﹤0.01% |
+177,240
| New | +$2.91M |
|
|
TIVO
1996
DELISTED
Tivo Inc
TIVO
| $2.71M | ﹤0.01% |
287,487
-223,245
| -44% | -$2.41M |
|
1997
Korn Ferry
KFY
$4.35B
| $2.7M | ﹤0.01% |
68,387
+7,350
| +12% | +$331K |
|
1998
Seaboard Corp
SEB
$3.78B
| $2.69M | ﹤0.01% |
761
-478
| -39% | -$1.76M |
|
|
SP
1999
DELISTED
SP Plus Corporation
SP
| $2.68M | ﹤0.01% |
+90,835
| New | +$2.82M |
|
2000
Boston Beer
SAM
$1.88B
| $2.68M | ﹤0.01% |
11,135
+7,948
| +249% | +$2.22M |
|
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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 $2.35B 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.