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 |
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 | 6.14% |
| 5 | Consumer Discretionary | 4.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
3051
Ryman Hospitality Properties
RHP
$8.36B
| $4.42M | ﹤0.01% |
46,765
-103,669
| -69% | -$9.58M |
|
3052
Zeta Global
ZETA
$5.59B
| $4.41M | ﹤0.01% |
216,786
-638,276
| -75% | -$11.9M |
|
3053
Acushnet Holdings
GOLF
$5.99B
| $4.41M | ﹤0.01% |
55,228
+50,389
| +1,041% | +$4.09M |
|
3054
CALL
Merit Medical Systems
MMSI
$5.09B
| $4.41M | ﹤0.01% |
+50,000
| New | +$4.26M |
|
|
DEFT
3055
Defi Technologies
DEFT
$188M
| $4.4M | ﹤0.01% |
5,836,397
+2,969,170
| +104% | +$4.54M |
|
|
BDN
3056
Brandywine Realty Trust
BDN
$537M
| $4.4M | ﹤0.01% |
1,507,042
-574,379
| -28% | -$1.95M |
|
3057
CALL
Ashland
ASH
$3.28B
| $4.4M | ﹤0.01% |
+75,000
| New | +$3.96M |
|
3058
Haemonetics
HAE
$3.93B
| $4.39M | ﹤0.01% |
54,821
-718,358
| -93% | -$48.3M |
|
3059
PUT
CF Industries
CF
$18.3B
| $4.39M | ﹤0.01% |
56,800
-1,200
| -2% | -$98.6K |
|
3060
CALL
Brinker International
EAT
$9.48B
| $4.39M | ﹤0.01% |
30,600
-300
| -1% | -$39.3K |
|
3061
Daktronics
DAKT
$981M
| $4.39M | ﹤0.01% |
222,136
-159,567
| -42% | -$3.05M |
|
3062
Immunovant
IMVT
$7.9B
| $4.38M | ﹤0.01% |
172,496
+84,382
| +96% | +$1.88M |
|
3063
PUT
Exelixis
EXEL
$13.7B
| $4.38M | ﹤0.01% |
+100,000
| New | +$4.14M |
|
3064
International Seaways
INSW
$4.75B
| $4.38M | ﹤0.01% |
90,262
+10,691
| +13% | +$529K |
|
3065
CALL
Goodyear
GT
$2.02B
| $4.38M | ﹤0.01% |
500,000
| – | – |
|
3066
CALL
Cenovus Energy
CVE
$54.3B
| $4.38M | ﹤0.01% |
258,600
+5,200
| +2% | +$90.3K |
|
3067
Capital Southwest
CSWC
$1.49B
| $4.37M | ﹤0.01% |
197,168
+67,116
| +52% | +$1.42M |
|
|
CSW
3068
CSW Industrials
CSW
$5.63B
| $4.36M | ﹤0.01% |
14,854
-29,857
| -67% | -$7.96M |
|
3069
Merchants Bancorp
MBIN
$2.6B
| $4.36M | ﹤0.01% |
128,011
-237,064
| -65% | -$7.79M |
|
3070
NextEra Energy
NEE
$180B
| $4.36M | ﹤0.01% |
54,304
-2,570,671
| -98% | -$213M |
|
|
CBLL
3071
CeriBell Inc
CBLL
$686M
| $4.36M | ﹤0.01% |
198,701
-467,747
| -70% | -$7.26M |
|
|
INR
3072
Infinity Natural Resources
INR
$247M
| $4.35M | ﹤0.01% |
295,552
-45,092
| -13% | -$591K |
|
|
ASIC
3073
Ategrity Specialty Insurance
ASIC
$1.16B
| $4.35M | ﹤0.01% |
207,167
+156,952
| +313% | +$2.97M |
|
3074
PJT Partners
PJT
$4.32B
| $4.35M | ﹤0.01% |
25,997
-11,250
| -30% | -$1.92M |
|
3075
Capitol Federal Financial
CFFN
$1.13B
| $4.34M | ﹤0.01% |
637,751
-484,974
| -43% | -$3.16M |
|
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Millennium Management's Q4 2025 Portfolio in Review
As of Q4 2025, Millennium Management held 6,645 positions worth $238B, up 1.5% from $234B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Millennium Management'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.
- Millennium Management's largest Q4 2025 buy was iShares Russell 1000 ETF: 455,129 shares worth $170M.
- Millennium Management added most to iShares Core S&P 500 ETF in Q4 2025, an estimated $4.75B increase.
- Millennium Management's biggest Q4 2025 reduction was Microsoft, cutting an estimated $572M.
- Millennium Management fully exited Mr. Cooper in Q4 2025, selling an estimated $277M.
- Millennium Management's ten largest holdings make up 19% of its $238B portfolio in Q4 2025.
- Millennium Management opened 668 new positions and closed 696 in Q4 2025.
- Millennium Management'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.