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 |
iShares Core S&P 500 ETF
IVV
|
+$4.75B |
| 2 |
Walmart Inc
WMT
|
+$3.98B |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.42B |
| 4 |
Broadcom
AVGO
|
+$943M |
| 5 |
iShares Bitcoin Trust
IBIT
|
+$785M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$572M |
| 2 |
NVIDIA
NVDA
|
+$566M |
| 3 |
Apple
AAPL
|
+$554M |
| 4 |
AbbVie
ABBV
|
+$455M |
| 5 |
Bank of America
BAC
|
+$411M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 9.52% |
| 2 | Healthcare | 7.46% |
| 3 | Financials | 6.74% |
| 4 | Industrials | 6.13% |
| 5 | Consumer Discretionary | 4.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
iShares Core S&P 500 ETF
IVV
$893B
| $9.93B | 4.18% |
14,494,278
+6,995,145
| +93% | +$4.75B |
|
2
PUT
iShares Russell 2000 ETF
IWM
$81.9B
| $7.55B | 3.18% |
30,678,500
+343,000
| +1% | +$84.3M |
|
3
PUT
Invesco QQQ Trust
QQQ
$486B
| $5.36B | 2.25% |
8,722,600
+1,872,400
| +27% | +$1.15B |
|
|
4
Walmart Inc
WMT
$825B
| $4.54B | 1.91% |
40,777,563
+37,075,626
| +1,002% | +$3.98B |
|
|
5
PUT
NVIDIA
NVDA
$5.2T
| $4.39B | 1.84% |
23,513,200
-7,784,500
| -25% | -$1.45B |
|
|
6
CALL
iShares Russell 2000 ETF
IWM
$81.9B
| $3.86B | 1.62% |
15,680,700
+963,500
| +7% | +$237M |
|
|
7
NVIDIA
NVDA
$5.2T
| $2.84B | 1.19% |
15,233,619
-3,038,895
| -17% | -$566M |
|
|
8
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $2.49B | 1.05% |
3,647,038
+2,097,639
| +135% | +$1.42B |
|
|
9
PUT
Apple
AAPL
$4.51T
| $2.45B | 1.03% |
9,012,900
+116,800
| +1% | +$31.4M |
|
|
10
CALL
Invesco QQQ Trust
QQQ
$486B
| $2.24B | 0.94% |
3,652,200
-3,528,200
| -49% | -$2.17B |
|
11
PUT
Amazon
AMZN
$2.79T
| $2.18B | 0.92% |
9,441,500
-1,469,100
| -13% | -$336M |
|
12
PUT
Meta Platforms (Facebook)
META
$1.4T
| $2.09B | 0.88% |
3,166,200
+680,800
| +27% | +$455M |
|
|
13
PUT
Microsoft
MSFT
$3.59T
| $2.06B | 0.87% |
4,260,200
-1,885,800
| -31% | -$945M |
|
|
14
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $1.86B | 0.78% |
2,722,000
+1,160,800
| +74% | +$785M |
|
|
15
iShares Bitcoin Trust
IBIT
$57.7B
| $1.7B | 0.72% |
34,333,524
+13,814,418
| +67% | +$785M |
|
16
PUT
Alphabet (Google) Class A
GOOGL
$4.22T
| $1.7B | 0.72% |
5,439,400
+80,300
| +1% | +$22.9M |
|
|
17
Broadcom
AVGO
$1.75T
| $1.54B | 0.65% |
4,445,154
+2,636,202
| +146% | +$943M |
|
18
PUT
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $1.48B | 0.62% |
27,048,800
-1,797,600
| -6% | -$95.8M |
|
|
19
Apple
AAPL
$4.51T
| $1.35B | 0.57% |
4,950,847
-2,064,985
| -29% | -$554M |
|
20
PUT
Tesla
TSLA
$1.43T
| $1.31B | 0.55% |
2,911,400
-576,100
| -17% | -$255M |
|
|
21
CALL
Apple
AAPL
$4.51T
| $1.25B | 0.53% |
4,612,200
-713,100
| -13% | -$191M |
|
|
22
CALL
NVIDIA
NVDA
$5.2T
| $1.22B | 0.51% |
6,526,500
-1,669,900
| -20% | -$311M |
|
23
Norfolk Southern
NSC
$78.8B
| $1.2B | 0.5% |
4,150,431
+1,505,916
| +57% | +$436M |
|
|
24
Microsoft
MSFT
$3.59T
| $1.11B | 0.47% |
2,291,238
-1,141,618
| -33% | -$572M |
|
|
25
PUT
Broadcom
AVGO
$1.75T
| $1.05B | 0.44% |
3,032,500
-155,500
| -5% | -$55.6M |
|
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Israel Englander's Q4 2025 Portfolio in Review
As of Q4 2025, Israel Englander held 6,645 positions worth $238B, up 1.5% from $234B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Israel Englander's Q4 2025 filing shows 668 new, 2,203 increased, 2,701 reduced and 696 closed positions. Its largest new stake was iShares Russell 1000 ETF: 455,129 shares worth $170M. The largest sale was Microsoft, an estimated $572M.
By sector, the portfolio is most concentrated in Technology at 9.5% of assets, up from 9.3% a quarter earlier, followed by Healthcare and Financials.
- Israel Englander's largest Q4 2025 buy was iShares Russell 1000 ETF: 455,129 shares worth $170M.
- Israel Englander added most to iShares Core S&P 500 ETF in Q4 2025, an estimated $4.75B increase.
- Israel Englander's biggest Q4 2025 reduction was Microsoft, cutting an estimated $572M.
- Israel Englander fully exited Mr. Cooper in Q4 2025, selling an estimated $277M.
- Israel Englander's ten largest holdings make up 19% of its $238B portfolio in Q4 2025.
- Israel Englander opened 668 new positions and closed 696 in Q4 2025.
- Israel Englander's portfolio value rose 1.5% quarter-over-quarter to $238B.
Based on Millennium Management's 13F filing for Q4 2025, filed 17 Feb 2026.