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 | |
|---|---|---|---|---|---|---|
3126
PUT
Pultegroup
PHM
$24.6B
| $4.1M | ﹤0.01% |
35,000
-13,200
| -27% | -$1.62M |
|
3127
PUT
Aflac
AFL
$64.5B
| $4.1M | ﹤0.01% |
37,200
-218,300
| -85% | -$24M |
|
3128
Chesapeake Utilities
CPK
$3.21B
| $4.1M | ﹤0.01% |
+32,879
| New | +$4.34M |
|
3129
Fractyl Health
GUTS
$107M
| $4.1M | ﹤0.01% |
1,861,418
+1,453,751
| +357% | +$2.34M |
|
3130
PUT
ResMed
RMD
$31.2B
| $4.09M | ﹤0.01% |
17,000
-46,800
| -73% | -$12M |
|
|
JENA
3131
Jena Acquisition Corp II
JENA
| $4.09M | ﹤0.01% |
402,500
+215,497
| +115% | +$2.2M |
|
3132
PUT
The Mosaic Company
MOS
$6.93B
| $4.09M | ﹤0.01% |
169,900
-105,700
| -38% | -$2.85M |
|
3133
CALL
Bilibili
BILI
$8.05B
| $4.09M | ﹤0.01% |
166,300
-71,100
| -30% | -$1.91M |
|
3134
PUT
Eastman Chemical
EMN
$8.23B
| $4.09M | ﹤0.01% |
64,000
+60,600
| +1,782% | +$3.73M |
|
3135
Claros Mortgage Trust
CMTG
$251M
| $4.08M | ﹤0.01% |
1,333,701
-50,171
| -4% | -$164K |
|
3136
CALL
C3.ai
AI
$1.51B
| $4.08M | ﹤0.01% |
302,300
+82,500
| +38% | +$1.32M |
|
3137
Invesco Mortgage Capital
IVR
$757M
| $4.07M | ﹤0.01% |
483,795
-1,039,600
| -68% | -$8.15M |
|
|
GTM
3138
CALL
ZoomInfo Technologies
GTM
$1.05B
| $4.07M | ﹤0.01% |
400,000
+148,800
| +59% | +$1.53M |
|
|
JCAP
3139
Jefferson Capital
JCAP
$1.27B
| $4.06M | ﹤0.01% |
181,929
+152,223
| +512% | +$3.08M |
|
3140
Madrigal Pharmaceuticals
MDGL
$11.1B
| $4.06M | ﹤0.01% |
6,978
+5,180
| +288% | +$2.65M |
|
3141
PUT
Travelers Companies
TRV
$78B
| $4.06M | ﹤0.01% |
14,000
+6,400
| +84% | +$1.8M |
|
3142
CALL
Equinix
EQIX
$102B
| $4.06M | ﹤0.01% |
5,300
+400
| +8% | +$314K |
|
3143
PUT
J.M. Smucker
SJM
$12.6B
| $4.06M | ﹤0.01% |
41,500
-22,400
| -35% | -$2.32M |
|
3144
Real Brokerage
REAX
$355M
| $4.06M | ﹤0.01% |
1,111,203
-968,873
| -47% | -$3.75M |
|
3145
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.68B
| $4.05M | ﹤0.01% |
32,091
+19,501
| +155% | +$2.53M |
|
3146
CALL
Vale
VALE
$62B
| $4.04M | ﹤0.01% |
310,300
-34,100
| -10% | -$414K |
|
3147
Rezolute
RZLT
$473M
| $4.04M | ﹤0.01% |
1,711,194
+1,531,922
| +855% | +$12M |
|
|
DHIL
3148
DELISTED
Diamond Hill
DHIL
| $4.03M | ﹤0.01% |
23,795
-15,402
| -39% | -$2.13M |
|
|
OBA
3149
Oxley Bridge Acquisition Ltd
OBA
| $4.03M | ﹤0.01% |
400,000
| – | – |
|
3150
Orrstown Financial Services
ORRF
$859M
| $4.03M | ﹤0.01% |
113,812
+90,792
| +394% | +$3.17M |
|
Similar funds
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.