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 | |
|---|---|---|---|---|---|---|
401
TransAlta
TAC
$3.93B
| $107M | 0.05% |
8,475,864
-4,639,825
| -35% | -$69.3M |
|
402
PUT
Baidu
BIDU
$35.7B
| $107M | 0.04% |
816,700
+226,700
| +38% | +$28.1M |
|
403
Repligen
RGEN
$6.91B
| $107M | 0.04% |
650,546
-166,510
| -20% | -$26.1M |
|
404
Applied Industrial Technologies
AIT
$12.4B
| $106M | 0.04% |
414,372
-32,967
| -7% | -$8.43M |
|
405
PUT
Scotiabank
BNS
$105B
| $106M | 0.04% |
1,050,000
+298,600
| +40% | +$20.3M |
|
406
PUT
Philip Morris
PM
$309B
| $106M | 0.04% |
660,700
+131,700
| +25% | +$20.4M |
|
407
DexCom
DXCM
$29B
| $106M | 0.04% |
1,589,877
-1,841,388
| -54% | -$119M |
|
408
B2Gold
BTG
$4.98B
| $105M | 0.04% |
23,342,850
+16,639,601
| +248% | +$77.6M |
|
|
CIVI
409
DELISTED
Civitas Resources
CIVI
| $105M | 0.04% |
3,872,183
+130,658
| +3% | +$3.78M |
|
410
PUT
Verizon
VZ
$197B
| $105M | 0.04% |
2,567,000
+1,206,000
| +89% | +$48.9M |
|
411
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.54B
| $104M | 0.04% |
825,900
-255,400
| -24% | -$33.1M |
|
412
Spotify
SPOT
$108B
| $104M | 0.04% |
179,031
+17,245
| +11% | +$10.8M |
|
413
CALL
Booking.com
BKNG
$156B
| $103M | 0.04% |
482,500
+155,000
| +47% | +$31.9M |
|
414
PUT
Blue Owl Capital
OWL
$6.45B
| $103M | 0.04% |
6,915,200
+6,138,500
| +790% | +$96M |
|
415
MACOM Technology Solutions
MTSI
$17.4B
| $103M | 0.04% |
602,940
+293,289
| +95% | +$46.6M |
|
416
Agree Realty
ADC
$9.66B
| $103M | 0.04% |
1,433,553
+170,842
| +14% | +$12.5M |
|
417
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.51B
| $103M | 0.04% |
1,591,100
-470,200
| -23% | -$29.5M |
|
418
Royal Bank of Canada
RY
$287B
| $103M | 0.04% |
603,858
+125,292
| +26% | +$19.2M |
|
419
Estee Lauder
EL
$30.4B
| $103M | 0.04% |
982,888
+342,512
| +53% | +$33.2M |
|
420
Mid-America Apartment Communities
MAA
$16B
| $103M | 0.04% |
738,065
+715,209
| +3,129% | +$95.3M |
|
421
ExxonMobil
XOM
$650B
| $102M | 0.04% |
845,550
-1,013,385
| -55% | -$118M |
|
422
Church & Dwight Co
CHD
$23.7B
| $101M | 0.04% |
1,210,464
+433,959
| +56% | +$37.1M |
|
423
Domino's
DPZ
$11.9B
| $101M | 0.04% |
242,588
+113,914
| +89% | +$47.5M |
|
|
ABVX
424
Abivax
ABVX
$10.4B
| $99.9M | 0.04% |
741,060
-358,970
| -33% | -$39.2M |
|
425
CALL
lululemon athletica
LULU
$13.5B
| $99.8M | 0.04% |
480,200
+65,900
| +16% | +$11.9M |
|
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.