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 | |
|---|---|---|---|---|---|---|
501
PUT
ConocoPhillips
COP
$148B
| $86.8M | 0.04% |
917,200
-286,700
| -24% | -$27.1M |
|
502
CALL
SAP
SAP
$241B
| $86.7M | 0.04% |
324,500
+248,700
| +328% | +$69.9M |
|
503
CALL
JD.com
JD
$45.2B
| $85.9M | 0.04% |
2,455,200
+1,203,600
| +96% | +$39.2M |
|
504
PUT
Philip Morris
PM
$290B
| $85.8M | 0.04% |
529,000
+169,100
| +47% | +$28.5M |
|
505
Aflac
AFL
$61.1B
| $85.7M | 0.04% |
766,848
+597,077
| +352% | +$62.7M |
|
506
KB Home
KBH
$3.47B
| $85.6M | 0.04% |
1,344,389
+178,973
| +15% | +$10.8M |
|
507
PUT
Abbott
ABT
$188B
| $85.5M | 0.04% |
638,400
-46,500
| -7% | -$6.1M |
|
|
SFD
508
Smithfield Foods
SFD
$9.62B
| $85.3M | 0.04% |
3,634,709
+1,760,713
| +94% | +$43M |
|
509
PUT
Procter & Gamble
PG
$340B
| $85.3M | 0.04% |
555,200
-77,000
| -12% | -$12M |
|
510
Southwest Airlines
LUV
$22B
| $85.1M | 0.04% |
2,665,586
+1,368,009
| +105% | +$44.7M |
|
511
Natera
NTRA
$45.9B
| $85M | 0.04% |
527,942
+351,433
| +199% | +$55.6M |
|
512
First Citizens BancShares
FCNCA
$25.2B
| $84.6M | 0.04% |
47,280
+25,282
| +115% | +$49.8M |
|
513
United Rentals
URI
$70.8B
| $84.6M | 0.04% |
88,585
-19,670
| -18% | -$17.5M |
|
514
CALL
Lyft
LYFT
$6.53B
| $84.5M | 0.04% |
3,840,000
+2,765,500
| +257% | +$46.3M |
|
515
CALL
Analog Devices
ADI
$187B
| $83.9M | 0.04% |
341,500
+94,100
| +38% | +$22.6M |
|
516
McKesson
MCK
$103B
| $83.8M | 0.04% |
108,465
+103,692
| +2,172% | +$73M |
|
517
KKR & Co
KKR
$93.2B
| $83.8M | 0.04% |
644,662
-1,041,355
| -62% | -$148M |
|
518
Yum China
YUMC
$16.5B
| $83.7M | 0.04% |
1,941,357
+849,647
| +78% | +$38.6M |
|
519
Arch Capital
ACGL
$33.5B
| $83.6M | 0.04% |
921,938
-922,484
| -50% | -$82.7M |
|
520
Agnico Eagle Mines
AEM
$91.4B
| $83.5M | 0.04% |
495,580
+105,171
| +27% | +$14.4M |
|
521
CALL
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.62B
| $83.3M | 0.04% |
630,000
+138,600
| +28% | +$17.9M |
|
522
Five Below
FIVE
$13B
| $83.3M | 0.04% |
538,347
-255,226
| -32% | -$36.1M |
|
523
Vale
VALE
$63.4B
| $83.3M | 0.04% |
7,667,894
+1,459,030
| +23% | +$14.9M |
|
524
Welltower
WELL
$169B
| $83M | 0.04% |
466,006
+6,743
| +1% | +$1.11M |
|
525
Unum
UNM
$14.5B
| $82.8M | 0.04% |
1,065,171
+9,608
| +0.9% | +$720K |
|
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.