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 | |
|---|---|---|---|---|---|---|
4526
CALL
Equinor
EQNR
$97.7B
| $801K | ﹤0.01% |
33,900
-57,900
| -63% | -$1.37M |
|
4527
Cohen & Steers Infrastructure Fund
UTF
$3.11B
| $801K | ﹤0.01% |
+33,223
| New | +$797K |
|
4528
Arhaus
ARHS
$1.05B
| $801K | ﹤0.01% |
71,425
-394,855
| -85% | -$4.1M |
|
4529
Koppers
KOP
$943M
| $800K | ﹤0.01% |
29,559
-43,579
| -60% | -$1.22M |
|
|
EMA
4530
Emera Inc
EMA
$16.5B
| $798K | ﹤0.01% |
+16,211
| New | +$783K |
|
4531
Oric Pharmaceuticals
ORIC
$1.15B
| $797K | ﹤0.01% |
97,432
-43,001
| -31% | -$495K |
|
4532
CALL
JB Hunt Transport Services
JBHT
$25.5B
| $797K | ﹤0.01% |
4,100
-3,200
| -44% | -$549K |
|
4533
Grupo Aval
AVAL
$6.27B
| $795K | ﹤0.01% |
196,338
-8,309
| -4% | -$33.4K |
|
4534
PUT
GitLab
GTLB
$5.83B
| $792K | ﹤0.01% |
21,100
-25,600
| -55% | -$1.11M |
|
4535
iShares MBS ETF
MBB
$38.9B
| $792K | ﹤0.01% |
8,315
+4,086
| +97% | +$390K |
|
|
MPT
4536
Medical Properties Trust
MPT
$2.77B
| $790K | ﹤0.01% |
157,902
-1,473,711
| -90% | -$7.67M |
|
4537
PUT
The RealReal
REAL
$1.46B
| $789K | ﹤0.01% |
+50,000
| New | +$653K |
|
4538
Loar Holdings
LOAR
$6.41B
| $785K | ﹤0.01% |
11,544
-109,886
| -90% | -$8.01M |
|
4539
CALL
US Foods
USFD
$22.2B
| $783K | ﹤0.01% |
10,400
| – | – |
|
4540
Pricesmart
PSMT
$5.98B
| $782K | ﹤0.01% |
6,372
-108,564
| -94% | -$13.2M |
|
4541
McEwen Inc
MUX
$1.03B
| $779K | ﹤0.01% |
42,010
-368,761
| -90% | -$6.86M |
|
4542
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
| $779K | ﹤0.01% |
+8,522
| New | +$780K |
|
4543
Clarivate
CLVT
$1.27B
| $776K | ﹤0.01% |
232,213
-3,119,171
| -93% | -$11.1M |
|
|
GIFI
4544
DELISTED
Gulf Island Fabrication
GIFI
| $775K | ﹤0.01% |
+64,773
| New | +$652K |
|
|
PPL
4545
CALL
PPL Corp
PPL
$26.5B
| $774K | ﹤0.01% |
+22,100
| New | +$797K |
|
4546
Wingstop
WING
$3.53B
| $772K | ﹤0.01% |
3,237
+1,972
| +156% | +$488K |
|
4547
CALL
American Water Works
AWK
$26.7B
| $770K | ﹤0.01% |
5,900
-13,500
| -70% | -$1.8M |
|
4548
PUT
Praxis Precision Medicines
PRAX
$8.58B
| $766K | ﹤0.01% |
+2,600
| New | +$484K |
|
4549
Absci
ABSI
$1.32B
| $766K | ﹤0.01% |
219,348
-289,572
| -57% | -$1.06M |
|
4550
Papa John's
PZZA
$984M
| $758K | ﹤0.01% |
+19,685
| New | +$870K |
|
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.