Millennium Management Portfolio holdings

AUM $112B

1-Year Return 13.71%

Millennium Management, founded in 1989 by Israel (Izzy) Englander and Ronald Shear and headquartered in New York City, is a global multi-strategy hedge fund managing over $71 billion in assets as of late 2024, employing a decentralized model with over 300 independent trading teams. Operating across equities, fixed income, commodities, currencies, and derivatives, the firm uses a mix of quantitative and fundamental strategies, providing its portfolio managers with capital, infrastructure, and autonomy to pursue diverse investment approaches while enforcing strict risk management. With more than 5,400 employees across offices in London, Hong Kong, Singapore, and beyond, Millennium has evolved from its initial $35 million seed capital—partly from the Belzberg family—into a titan of the hedge fund world, known for its ability to attract top talent and deliver consistent returns. Under Englander’s leadership as chairman and CEO, the firm remains a low-profile yet highly influential force in global finance.

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+6.16%

1 Year Return

+13.71%

3 Year Return

+41.74%

5 Year Return

+76.27%

10 Year Return

+245.84%

AUM

$43.4M

AUM Growth

-$41.8B (-100%)

Cap. Flow

-$2.21B

Cap. Flow % of AUM

-5,102.87%

Top 10 Holdings % Top 10 Hldgs %

7.32%

Holding

4,218

New

730

Increased

1,230

Reduced

1,567

Closed

555

Top Buys

1	MNTA Momenta Pharmaceuticals, Inc. MNTA	$225K
2	VAR Varian Medical Systems, Inc. VAR	$208K
3	AMTD TD Ameritrade Holding Corp AMTD	$176K
4	Tesla TSLA	$176K
5	Meta Platforms (Facebook) META	$174K

Top Sells

1	TECD Tech Data Corp TECD	$186M
2	MINI Mobile Mini Inc MINI	$92.3M
3	Canadian Pacific Kansas City CP	$91.9M
4	TVIX VelocityShares Daily 2x VIX Short Term ETN TVIX	$77.9M
5	Kraft Heinz KHC	$60.1M

Sector Composition

1	Healthcare	15.67%
2	Consumer Discretionary	12.56%
3	Technology	11.33%
4	Industrials	10.91%
5	Financials	10.59%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
226	NEE.PRQ 226 DELISTED NextEra Energy, Inc. 6.219% Corporate Units NEE.PRQ	$44.9K	0.06%	+947,120	New	+$44.9K
227	227 Reliance Steel & Aluminium RS $15.5B	$44.7K	0.06%	437,634 +32,435	+8%	+$3.31K
228	SAVE 228 DELISTED Spirit Airlines, Inc. SAVE	$44.6K	0.05%	2,770,407 +2,646,654	+2,139%	+$42.6K
229	DNKN 229 DELISTED Dunkin' Brands Group, Inc. DNKN	$44.6K	0.05%	544,351 +416,954	+327%	+$34.2K
230	230 Teledyne Technologies TDY $25.6B	$44.4K	0.05%	143,225 -28,804	-17%	-$8.94K
231	231 Zillow Z $20.3B	$44.4K	0.05%	436,952 +71,346	+20%	+$7.25K
232	HZAC.U 232 DELISTED Horizon Acquisition Corporation Units, each consisting of one Class A ordinary share and one-third o HZAC.U	$44.3K	0.05%	+4,260,000	New	+$44.3K
233	233 Knight Transportation KNX $7.16B	$44.2K	0.05%	1,087,207 +836,663	+334%	+$34.1K
234	MZTI 234 The Marzetti Company Common Stock MZTI $5.06B	$44.1K	0.05%	246,638 -47,499	-16%	-$8.49K
235	235 Enphase Energy ENPH $4.78B	$44K	0.05%	532,949 -312,366	-37%	-$25.8K
236	236 BorgWarner BWA $9.49B	$44K	0.05%	1,290,430 +110,543	+9%	+$3.77K
237	237 Lockheed Martin LMT $107B	$43.6K	0.05%	113,669 -138,142	-55%	-$52.9K
238	CHNG 238 DELISTED Change Healthcare Inc. Common Stock CHNG	$43.6K	0.05%	3,001,854 -534,152	-15%	-$7.75K
239	239 S&P Global SPGI $165B	$43.5K	0.05%	120,678 -239,408	-66%	-$86.3K
240	240 Arch Capital ACGL $34.4B	$42.9K	0.05%	1,466,498 -89,784	-6%	-$2.63K
241	241 PPG Industries PPG $24.7B	$42.9K	0.05%	351,138 +120,277	+52%	+$14.7K
242	242 Wells Fargo WFC $262B	$42.8K	0.05%	1,821,467 +508,814	+39%	+$12K
243	243 Boston Beer SAM $2.38B	$42.8K	0.05%	48,428 -57,875	-54%	-$51.1K
244	244 Carnival Corp CCL $43.1B	$42.7K	0.05%	2,811,126 +2,675,286	+1,969%	+$40.6K
245	245 T-Mobile US TMUS $284B	$42.4K	0.05%	370,558 +106,496	+40%	+$12.2K
246	LSI 246 DELISTED Life Storage, Inc. LSI	$41.9K	0.05%	597,264 +294,132	+97%	+$20.6K
247	247 Medical Properties Trust MPW $2.67B	$41.8K	0.05%	2,370,498 +1,201,387	+103%	+$21.2K
248	248 Monolithic Power Systems MPWR $40.6B	$41.7K	0.05%	149,098 +113,112	+314%	+$31.6K
249	249 Snap SNAP $12B	$41.5K	0.05%	+1,588,614	New	+$41.5K
250	250 CareTrust REIT CTRE $7.59B	$41.1K	0.05%	2,310,318 +1,294,181	+127%	+$23K