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 | |
|---|---|---|---|---|---|---|
3601
Gray Television
GTN
$441M
| $2.88M | ﹤0.01% |
498,187
+342,564
| +220% | +$1.86M |
|
|
OACC
3602
Oaktree Acquisition Corp III Life Sciences
OACC
$264M
| $2.88M | ﹤0.01% |
273,914
| – | – |
|
3603
Choice Hotels
CHH
$4.94B
| $2.88M | ﹤0.01% |
26,898
-543,539
| -95% | -$66.4M |
|
3604
PUT
Ecolab
ECL
$79.7B
| $2.88M | ﹤0.01% |
10,500
-17,100
| -62% | -$4.64M |
|
3605
Acadia Realty Trust
AKR
$2.97B
| $2.87M | ﹤0.01% |
142,656
-536,558
| -79% | -$10.3M |
|
3606
Mercer International
MERC
$47.5M
| $2.87M | ﹤0.01% |
994,974
+137,906
| +16% | +$455K |
|
3607
Wave Life Sciences
WVE
$1.18B
| $2.86M | ﹤0.01% |
390,749
-301,666
| -44% | -$2.44M |
|
3608
CALL
Toll Brothers
TOL
$14.3B
| $2.86M | ﹤0.01% |
20,700
+16,100
| +350% | +$2.1M |
|
|
GEMI
3609
Gemini Space Station
GEMI
$532M
| $2.85M | ﹤0.01% |
+118,948
| New | +$3.07M |
|
3610
Angi Inc
ANGI
$251M
| $2.85M | ﹤0.01% |
175,271
+96,167
| +122% | +$1.65M |
|
3611
PUT
Five Below
FIVE
$12.3B
| $2.85M | ﹤0.01% |
18,400
-36,800
| -67% | -$5.21M |
|
3612
Capital Southwest
CSWC
$1.54B
| $2.84M | ﹤0.01% |
130,052
-396,682
| -75% | -$9.03M |
|
|
PACH
3613
Pioneer Acquisition I Corp
PACH
$293M
| $2.84M | ﹤0.01% |
+285,001
| New | +$2.84M |
|
3614
PACS Group
PACS
$7.09B
| $2.84M | ﹤0.01% |
206,655
+31,736
| +18% | +$372K |
|
3615
Arcutis Biotherapeutics
ARQT
$3.26B
| $2.83M | ﹤0.01% |
150,099
-760,742
| -84% | -$12M |
|
3616
CALL
Mobileye
MBLY
$2.18B
| $2.82M | ﹤0.01% |
200,000
+166,500
| +497% | +$2.48M |
|
|
3617
CALL
Norfolk Southern
NSC
$76.7B
| $2.82M | ﹤0.01% |
9,400
-15,900
| -63% | -$4.42M |
|
3618
AB InBev
BUD
$167B
| $2.82M | ﹤0.01% |
47,327
-54,852
| -54% | -$3.45M |
|
|
AMWD
3619
DELISTED
American Woodmark
AMWD
| $2.82M | ﹤0.01% |
42,178
-56,698
| -57% | -$3.48M |
|
3620
ADC Therapeutics
ADCT
$140M
| $2.81M | ﹤0.01% |
701,619
+317,945
| +83% | +$1M |
|
3621
GSK
GSK
$103B
| $2.8M | ﹤0.01% |
64,990
-13,437
| -17% | -$525K |
|
|
JMIA
3622
Jumia Technologies
JMIA
$759M
| $2.8M | ﹤0.01% |
241,549
+157,227
| +186% | +$1.15M |
|
3623
CALL
CACI
CACI
$11.6B
| $2.79M | ﹤0.01% |
5,600
| – | – |
|
3624
Genmab
GMAB
$17.8B
| $2.79M | ﹤0.01% |
90,913
-295,383
| -76% | -$7.2M |
|
|
ABTC
3625
American Bitcoin Corp
ABTC
$448M
| $2.79M | ﹤0.01% |
+27,566
| New | +$2.76M |
|
Similar funds
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.