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 | |
|---|---|---|---|---|---|---|
|
SOBO
4326
South Bow Corp
SOBO
$7.62B
| $1.26M | ﹤0.01% |
44,497
+2,066
| +5% | +$56.2K |
|
4327
PUT
Fluor
FLR
$7.06B
| $1.26M | ﹤0.01% |
29,900
+3,100
| +12% | +$143K |
|
4328
CALL
Replimune Group
REPL
$955M
| $1.26M | ﹤0.01% |
300,000
+225,000
| +300% | +$1.44M |
|
4329
CALL
Sunrun
RUN
$2.46B
| $1.25M | ﹤0.01% |
72,500
-3,700
| -5% | -$49.5K |
|
|
FRMM
4330
Forum Markets
FRMM
$68.4M
| $1.25M | ﹤0.01% |
+51,950
| New | +$1.56M |
|
4331
Unity Bancorp
UNTY
$598M
| $1.25M | ﹤0.01% |
25,571
+17,322
| +210% | +$881K |
|
4332
PUT
Paycom
PAYC
$7.82B
| $1.25M | ﹤0.01% |
6,000
-8,800
| -59% | -$1.98M |
|
4333
GigaCloud Technology
GCT
$1.62B
| $1.25M | ﹤0.01% |
43,902
+3,462
| +9% | +$90.3K |
|
4334
Red River Bancshares
RRBI
$662M
| $1.25M | ﹤0.01% |
19,235
-1,746
| -8% | -$111K |
|
4335
Vanguard S&P 500 ETF
VOO
$990B
| $1.25M | ﹤0.01% |
+2,036
| New | +$1.2M |
|
4336
TAL Education Group
TAL
$6.71B
| $1.25M | ﹤0.01% |
111,266
+90,067
| +425% | +$970K |
|
4337
BK Technologies
BKTI
$297M
| $1.24M | ﹤0.01% |
+14,719
| New | +$840K |
|
4338
Sterling Infrastructure
STRL
$18.4B
| $1.24M | ﹤0.01% |
+3,659
| New | +$1.04M |
|
4339
Mission Produce
AVO
$1.14B
| $1.24M | ﹤0.01% |
+103,381
| New | +$1.28M |
|
4340
Ennis
EBF
$555M
| $1.24M | ﹤0.01% |
67,963
+49,427
| +267% | +$899K |
|
4341
iShares Broad USD High Yield Corporate Bond ETF
USHY
$28.5B
| $1.24M | ﹤0.01% |
32,780
+4,741
| +17% | +$178K |
|
4342
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
$7.59B
| $1.24M | ﹤0.01% |
28,590
+4,245
| +17% | +$183K |
|
4343
State Street SPDR Bloomberg Short Term High Yield Bond ETF
SJNK
$4.74B
| $1.24M | ﹤0.01% |
48,355
+28,477
| +143% | +$725K |
|
4344
Vanguard Total International Bond ETF
BNDX
$82B
| $1.24M | ﹤0.01% |
25,028
-1,452
| -5% | -$71.6K |
|
4345
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
| $1.24M | ﹤0.01% |
36,522
-4,554
| -11% | -$153K |
|
4346
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.6B
| $1.24M | ﹤0.01% |
40,860
+15,164
| +59% | +$457K |
|
4347
Insight Enterprises
NSIT
$4.02B
| $1.23M | ﹤0.01% |
10,855
-156,948
| -94% | -$20.4M |
|
4348
PUT
Li Auto
LI
$13B
| $1.23M | ﹤0.01% |
48,500
-160,100
| -77% | -$4.15M |
|
4349
CALL
Urban Outfitters
URBN
$6.51B
| $1.23M | ﹤0.01% |
17,200
+9,900
| +136% | +$728K |
|
|
CNL
4350
Collective Mining Ltd
CNL
$1.16B
| $1.23M | ﹤0.01% |
84,608
+40,931
| +94% | +$465K |
|
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.