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 | |
|---|---|---|---|---|---|---|
|
AMWD
4601
DELISTED
American Woodmark
AMWD
| $711K | ﹤0.01% |
13,191
-28,987
| -69% | -$1.7M |
|
4602
Betterware México
BWMX
$634M
| $711K | ﹤0.01% |
50,018
-23,993
| -32% | -$331K |
|
4603
Biglari Holdings Class A
BH.A
$1.25B
| $710K | ﹤0.01% |
408
+249
| +157% | +$414K |
|
4604
CALL
Acadia Healthcare
ACHC
$2.76B
| $710K | ﹤0.01% |
+50,000
| New | +$946K |
|
4605
Newegg Commerce
NEGG
$279M
| $709K | ﹤0.01% |
13,968
-9,418
| -40% | -$601K |
|
|
CCCXW
4606
CALL
DELISTED
Churchill Capital Corp X Warrants
CCCXW
| $708K | ﹤0.01% |
91,994
+79,494
| +636% | +$592K |
|
4607
Imperial Petroleum
IMPP
$213M
| $708K | ﹤0.01% |
+195,609
| New | +$962K |
|
4608
Home Bancorp
HBCP
$561M
| $708K | ﹤0.01% |
12,250
+2,841
| +30% | +$158K |
|
|
AGEN
4609
Agenus
AGEN
$312M
| $708K | ﹤0.01% |
225,339
-123,415
| -35% | -$491K |
|
|
GLIBA
4610
Liberty Capital Corp Series A GCI Group Common Stock
GLIBA
$943M
| $706K | ﹤0.01% |
+19,135
| New | +$672K |
|
4611
QuickLogic
QUIK
$232M
| $704K | ﹤0.01% |
117,188
-50,300
| -30% | -$326K |
|
4612
Inspired Entertainment
INSE
$184M
| $703K | ﹤0.01% |
+75,114
| New | +$633K |
|
4613
Vericel Corp
VCEL
$2.35B
| $703K | ﹤0.01% |
19,520
-43,341
| -69% | -$1.59M |
|
4614
NewtekOne
NEWT
$428M
| $703K | ﹤0.01% |
61,895
-27,330
| -31% | -$298K |
|
4615
CALL
Cincinnati Financial
CINF
$27.3B
| $702K | ﹤0.01% |
+4,300
| New | +$696K |
|
4616
SiTime
SITM
$16B
| $702K | ﹤0.01% |
1,988
-1,493
| -43% | -$467K |
|
|
UNIT
4617
PUT
Uniti Group
UNIT
$2.36B
| $701K | ﹤0.01% |
100,000
-100,000
| -50% | -$634K |
|
4618
PUT
Nice
NICE
$5.79B
| $701K | ﹤0.01% |
6,200
-12,900
| -68% | -$1.56M |
|
4619
CALL
Harley-Davidson
HOG
$2.58B
| $701K | ﹤0.01% |
34,200
-3,500
| -9% | -$86K |
|
4620
Liberty All-Star Equity Fund
USA
$1.79B
| $697K | ﹤0.01% |
111,046
+23,068
| +26% | +$144K |
|
4621
Vanguard Total International Bond ETF
BNDX
$81.9B
| $697K | ﹤0.01% |
14,421
-10,607
| -42% | -$524K |
|
4622
CALL
FerroAtlántica
GSM
$594M
| $696K | ﹤0.01% |
+150,000
| New | +$692K |
|
|
COPL
4623
Copley Acquisition Corp
COPL
$248M
| $693K | ﹤0.01% |
67,485
-42,515
| -39% | -$433K |
|
4624
Palisade Bio
PALI
$330M
| $692K | ﹤0.01% |
+294,486
| New | +$566K |
|
4625
PUT
NetEase
NTES
$85.3B
| $688K | ﹤0.01% |
5,000
| – | – |
|
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.