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 | |
|---|---|---|---|---|---|---|
76
PUT
Morgan Stanley
MS
$338B
| $356M | 0.15% |
2,237,400
+426,800
| +24% | +$63M |
|
77
Berkshire Hathaway Class B
BRK.B
$1.11T
| $352M | 0.15% |
700,331
+511,207
| +270% | +$248M |
|
78
LPL Financial
LPLA
$29.2B
| $350M | 0.15% |
1,053,168
+965,693
| +1,104% | +$350M |
|
79
Cheniere Energy
LNG
$54.8B
| $344M | 0.15% |
1,462,048
-57,566
| -4% | -$13.5M |
|
80
CALL
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.6B
| $343M | 0.15% |
3,075,000
-1,095,100
| -26% | -$120M |
|
81
PUT
JPMorgan Chase
JPM
$962B
| $343M | 0.15% |
1,086,000
+85,500
| +9% | +$25.4M |
|
82
PUT
Palo Alto Networks
PANW
$313B
| $342M | 0.15% |
1,681,300
+571,700
| +52% | +$109M |
|
83
PUT
iShares MSCI EAFE ETF
EFA
$79.9B
| $341M | 0.15% |
3,653,500
+276,100
| +8% | +$25.1M |
|
84
Insmed
INSM
$29B
| $336M | 0.14% |
2,336,112
+214,395
| +10% | +$26.3M |
|
85
General Motors
GM
$78.4B
| $335M | 0.14% |
5,492,881
+2,490,401
| +83% | +$139M |
|
86
CALL
IBM
IBM
$225B
| $335M | 0.14% |
1,186,600
+857,200
| +260% | +$224M |
|
87
Sempra
SRE
$55.9B
| $334M | 0.14% |
3,707,402
+1,535,118
| +71% | +$124M |
|
88
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
| $332M | 0.14% |
3,314,700
-50,100
| -1% | -$4.51M |
|
89
Packaging Corp of America
PKG
$22.9B
| $331M | 0.14% |
1,516,562
+1,047,902
| +224% | +$216M |
|
90
PUT
Eli Lilly
LLY
$1.08T
| $329M | 0.14% |
431,400
+86,400
| +25% | +$64.3M |
|
91
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
| $329M | 0.14% |
4,050,000
+891,600
| +28% | +$71.8M |
|
92
S&P Global
SPGI
$120B
| $326M | 0.14% |
670,295
+623,524
| +1,333% | +$334M |
|
93
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
| $323M | 0.14% |
3,613,900
+1,652,800
| +84% | +$145M |
|
94
CALL
Alphabet (Google) Class A
GOOGL
$4.2T
| $320M | 0.14% |
1,317,700
-1,075,200
| -45% | -$225M |
|
95
Chevron
CVX
$386B
| $314M | 0.13% |
2,023,571
+1,558,770
| +335% | +$241M |
|
96
Cardinal Health
CAH
$55.9B
| $311M | 0.13% |
1,984,424
+706,689
| +55% | +$109M |
|
97
Carlyle Group
CG
$17.2B
| $309M | 0.13% |
4,930,069
+2,938,161
| +148% | +$184M |
|
98
Cencora
COR
$63.7B
| $308M | 0.13% |
985,924
+390,523
| +66% | +$115M |
|
99
Costco
COST
$419B
| $307M | 0.13% |
332,111
+172,851
| +109% | +$166M |
|
|
JHG
100
DELISTED
Janus Henderson
JHG
| $305M | 0.13% |
6,851,082
+1,154,481
| +20% | +$49.9M |
|
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.