Hilbert schemes with two Borel-fixed points

We characterize Hilbert polynomials that give rise to Hilbert schemes with two Borel-fixed points and determine when the associated Hilbert schemes or their irreducible components are smooth. In particular, we show that the Hilbert scheme is reduced and has at most two irreducible components. By describing the singularities in a neighbourhood of the Borel-fixed points, we prove that the irreducible components are Cohen-Macaulay and normal. We end by giving many examples of Hilbert schemes with three Borel-fixed points.