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 |
Boston Scientific
BSX
|
+$240M |
| 2 |
eBay
EBAY
|
+$231M |
| 3 |
PXD
Pioneer Natural Resource Co.
PXD
|
+$216M |
| 4 |
Ameren
AEE
|
+$196M |
| 5 |
Kohl's
KSS
|
+$182M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$552M |
| 2 |
Micron Technology
MU
|
+$425M |
| 3 |
Visa
V
|
+$225M |
| 4 |
Marathon Petroleum
MPC
|
+$225M |
| 5 |
ESRX
Express Scripts Holding Company
ESRX
|
+$218M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 13.6% |
| 2 | Healthcare | 12.02% |
| 3 | Technology | 11.62% |
| 4 | Industrials | 11.19% |
| 5 | Consumer Discretionary | 10.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
HES
51
DELISTED
Hess
HES
| $171M | 0.23% |
3,385,508
+2,696,985
| +392% | +$132M |
|
52
Mastercard
MA
$500B
| $171M | 0.23% |
973,680
+527,352
| +118% | +$90.1M |
|
53
American International
AIG
$42.5B
| $170M | 0.23% |
3,132,942
+1,869,555
| +148% | +$110M |
|
54
Louisiana-Pacific
LPX
$5.4B
| $169M | 0.23% |
5,880,551
+2,581,310
| +78% | +$74M |
|
55
Knight Transportation
KNX
$11.5B
| $169M | 0.23% |
3,670,747
+2,826,495
| +335% | +$134M |
|
|
TWX
56
DELISTED
Time Warner Inc
TWX
| $168M | 0.22% |
1,774,201
+433,355
| +32% | +$40.8M |
|
57
CVS Health
CVS
$126B
| $165M | 0.22% |
2,645,081
+1,606,570
| +155% | +$115M |
|
58
SM Energy
SM
$6.96B
| $164M | 0.22% |
9,116,966
+2,263,004
| +33% | +$48.9M |
|
59
NXP Semiconductors
NXPI
$58.3B
| $164M | 0.22% |
1,403,503
-119,770
| -8% | -$14.5M |
|
60
Eaton
ETN
$174B
| $164M | 0.22% |
2,050,885
+1,332,033
| +185% | +$109M |
|
61
PUT
VanEck Gold Miners ETF
GDX
$25.5B
| $163M | 0.22% |
+7,405,900
| New | +$167M |
|
62
DTE Energy
DTE
$29.1B
| $162M | 0.22% |
1,819,629
+1,233,917
| +211% | +$108M |
|
63
Delta Air Lines
DAL
$61.3B
| $161M | 0.21% |
2,934,904
+1,744,774
| +147% | +$96.2M |
|
64
DXC Technology
DXC
$1.78B
| $161M | 0.21% |
1,847,586
+215,862
| +13% | +$18.9M |
|
65
Salesforce
CRM
$158B
| $160M | 0.21% |
1,376,579
-428,673
| -24% | -$49.2M |
|
66
Adobe
ADBE
$103B
| $159M | 0.21% |
737,102
-702,008
| -49% | -$143M |
|
67
PepsiCo
PEP
$189B
| $158M | 0.21% |
1,447,539
+1,244,243
| +612% | +$142M |
|
68
NRG Energy
NRG
$25.5B
| $156M | 0.21% |
5,115,434
-644,425
| -11% | -$17.9M |
|
69
Tenaris
TS
$28.8B
| $152M | 0.2% |
4,392,857
+2,628,095
| +149% | +$90.3M |
|
70
Colgate-Palmolive
CL
$74.4B
| $152M | 0.2% |
2,117,840
-1,392,316
| -40% | -$100M |
|
71
Baxter International
BAX
$14.1B
| $151M | 0.2% |
2,321,343
+2,213,481
| +2,052% | +$150M |
|
72
M&T Bank
MTB
$36.5B
| $150M | 0.2% |
813,680
-212,142
| -21% | -$39.5M |
|
73
Occidental Petroleum
OXY
$53.5B
| $149M | 0.2% |
2,298,633
+309,602
| +16% | +$21.7M |
|
74
Capital One
COF
$136B
| $149M | 0.2% |
1,551,965
+947,638
| +157% | +$94.3M |
|
|
GXP
75
DELISTED
Great Plains Energy Incorporated
GXP
| $149M | 0.2% |
4,675,262
+2,644,203
| +130% | +$80.5M |
|
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Millennium Management's Q1 2018 Portfolio in Review
As of Q1 2018, Millennium Management held 4,417 positions worth $74.9B, up 3.4% from $72.5B the previous quarter. Its ten largest holdings account for 6.3% of the portfolio.
Millennium Management deployed $3.29B of net new capital in Q1 2018, opening 664 new positions and adding to 1,466 existing holdings. Its largest new stake was Tiffany & Co.: 1,078,847 shares worth $105M.
By sector, the portfolio is most concentrated in Financials at 14% of assets, down from 14% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $552M trimmed.
- Millennium Management's largest Q1 2018 buy was Tiffany & Co.: 1,078,847 shares worth $105M.
- Millennium Management added most to Boston Scientific in Q1 2018, an estimated $240M increase.
- Millennium Management's biggest Q1 2018 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $552M.
- Millennium Management fully exited Equinix in Q1 2018, selling an estimated $152M.
- Millennium Management's ten largest holdings make up 6.3% of its $74.9B portfolio in Q1 2018.
- Millennium Management opened 664 new positions and closed 833 in Q1 2018.
- Millennium Management's portfolio value rose 3.4% quarter-over-quarter to $74.9B.
Based on Millennium Management's 13F filing for Q1 2018, filed 15 May 2018.