Millennium Management Portfolio holdings
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$1.78B |
| 2 |
Apple
AAPL
|
+$1.13B |
| 3 |
ETHA
iShares Ethereum Trust ETF
ETHA
|
+$834M |
| 4 |
iShares Core S&P 500 ETF
IVV
|
+$784M |
| 5 |
Norfolk Southern
NSC
|
+$613M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Applovin
APP
|
+$1.19B |
| 2 |
Palantir
PLTR
|
+$742M |
| 3 |
HES
Hess
HES
|
+$478M |
| 4 |
Oracle
ORCL
|
+$465M |
| 5 |
Thomson Reuters
TRI
|
+$442M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 9.28% |
| 2 | Financials | 7.68% |
| 3 | Healthcare | 6.5% |
| 4 | Industrials | 5.87% |
| 5 | Consumer Discretionary | 4.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2851
CALL
Cleveland-Cliffs
CLF
$6.99B
| $5.98M | ﹤0.01% |
490,200
+87,200
| +22% | +$917K |
|
|
DEFT
2852
Defi Technologies
DEFT
$182M
| $5.98M | ﹤0.01% |
2,867,227
+2,778,268
| +3,123% | +$7.19M |
|
2853
Tarsus Pharmaceuticals
TARS
$2.81B
| $5.98M | ﹤0.01% |
100,568
+42,427
| +73% | +$2.09M |
|
2854
ANI Pharmaceuticals
ANIP
$1.76B
| $5.98M | ﹤0.01% |
65,245
-938,631
| -94% | -$76.5M |
|
|
SFBS
2855
ServisFirst Bancshares
SFBS
$4.86B
| $5.96M | ﹤0.01% |
74,050
+6,463
| +10% | +$535K |
|
2856
Power Integrations
POWI
$3.6B
| $5.96M | ﹤0.01% |
148,265
+94,707
| +177% | +$4.57M |
|
2857
CALL
Pinterest
PINS
$13.3B
| $5.96M | ﹤0.01% |
185,300
-67,200
| -27% | -$2.44M |
|
2858
PUT
Lincoln National
LNC
$8.9B
| $5.96M | ﹤0.01% |
147,800
+47,800
| +48% | +$1.85M |
|
2859
Cogent Biosciences
COGT
$7.22B
| $5.96M | ﹤0.01% |
414,966
-555,007
| -57% | -$6.58M |
|
|
MCHB
2860
Mechanics Bancorp
MCHB
$3.7B
| $5.96M | ﹤0.01% |
+447,661
| New | +$5.96M |
|
2861
CALL
Tencent Music
TME
$15.5B
| $5.95M | ﹤0.01% |
255,000
+200,000
| +364% | +$4.63M |
|
2862
Outset Medical
OM
$89.7M
| $5.95M | ﹤0.01% |
421,409
+262,874
| +166% | +$4.1M |
|
|
ALM
2863
Almonty Industries
ALM
$3.91B
| $5.95M | ﹤0.01% |
+985,902
| New | +$4.48M |
|
2864
PUT
Elevance Health
ELV
$85.6B
| $5.95M | ﹤0.01% |
18,400
+2,900
| +19% | +$902K |
|
2865
Adaptive Biotechnologies
ADPT
$3.93B
| $5.94M | ﹤0.01% |
397,310
-617,332
| -61% | -$7.52M |
|
2866
Cohen & Steers
CNS
$4.31B
| $5.93M | ﹤0.01% |
90,374
-13,382
| -13% | -$981K |
|
2867
Insteel Industries
IIIN
$629M
| $5.93M | ﹤0.01% |
154,622
-68,360
| -31% | -$2.58M |
|
2868
AerSale
ASLE
$278M
| $5.92M | ﹤0.01% |
723,270
+288,699
| +66% | +$2.17M |
|
|
SVACU
2869
DELISTED
Spring Valley Acquisition Corp III Unit
SVACU
| $5.91M | ﹤0.01% |
+575,000
| New | +$5.82M |
|
2870
PUT
Fabrinet
FN
$20.1B
| $5.91M | ﹤0.01% |
16,200
-7,900
| -33% | -$2.6M |
|
2871
Zillow
Z
$7.49B
| $5.9M | ﹤0.01% |
76,577
+21,223
| +38% | +$1.73M |
|
2872
PUT
Trip.com Group
TCOM
$29B
| $5.89M | ﹤0.01% |
78,300
-19,900
| -20% | -$1.33M |
|
2873
First American
FAF
$7.62B
| $5.88M | ﹤0.01% |
91,479
-1,286,184
| -93% | -$81.1M |
|
2874
PUT
Doximity
DOCS
$5.25B
| $5.87M | ﹤0.01% |
80,300
+17,400
| +28% | +$1.13M |
|
2875
American Battery Technology Co
ABAT
$349M
| $5.86M | ﹤0.01% |
1,205,614
+1,191,685
| +8,555% | +$3.11M |
|
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Millennium Management's Q3 2025 Portfolio in Review
As of Q3 2025, Millennium Management held 6,610 positions worth $234B, up 13% from $207B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Millennium Management's Q3 2025 filing shows 800 new, 2,296 increased, 2,513 reduced and 633 closed positions. Its largest new stake was Vanguard Long-Term Corporate Bond ETF: 1,212,092 shares worth $94.1M. The largest sale was Applovin, an estimated $1.19B.
By sector, the portfolio is most concentrated in Technology at 9.3% of assets, up from 8.7% a quarter earlier, followed by Financials and Healthcare.
- Millennium Management's largest Q3 2025 buy was Vanguard Long-Term Corporate Bond ETF: 1,212,092 shares worth $94.1M.
- Millennium Management added most to NVIDIA in Q3 2025, an estimated $1.78B increase.
- Millennium Management's biggest Q3 2025 reduction was Applovin, cutting an estimated $1.19B.
- Millennium Management fully exited Hess in Q3 2025, selling an estimated $478M.
- Millennium Management's ten largest holdings make up 18% of its $234B portfolio in Q3 2025.
- Millennium Management opened 800 new positions and closed 633 in Q3 2025.
- Millennium Management's portfolio value rose 13% quarter-over-quarter to $234B.
Based on Millennium Management's 13F filing for Q3 2025, filed 14 Nov 2025.