Millennium Management Portfolio holdings

AUM $112B

1-Year Return 13.71%

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.

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+7.86%

1 Year Return

+13.71%

3 Year Return

+41.74%

5 Year Return

+76.27%

10 Year Return

+245.84%

AUM

$25.1B

AUM Growth

+$2.99B (+14%)

Cap. Flow

+$1.34B

Cap. Flow % of AUM

5.33%

Top 10 Holdings % Top 10 Hldgs %

7.96%

Holding

3,129

New

576

Increased

1,073

Reduced

949

Closed

471

Top Buys

1	Gilead Sciences GILD	+$131M
2	NextEra Energy, Inc. NEE	+$123M
3	DTE Energy DTE	+$119M
4	Ameren AEE	+$119M
5	AGN Allergan plc AGN	+$115M

Top Sells

1	Dominion Energy D	+$126M
2	HES Hess HES	+$103M
3	BHI Baker Hughes BHI	+$84.7M
4	ELN ELAN CORP ADS(RP1 ORD4IRISH PN ELN	+$79.9M
5	Cheniere Energy LNG	+$78.3M

Sector Composition

1	Healthcare	14.83%
2	Energy	13.82%
3	Utilities	10.24%
4	Financials	9.31%
5	Consumer Discretionary	8.74%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1001	AEGR 1001 DELISTED Aegerion Pharmaceuticals, Inc. AEGR	$4.67M	0.01%	65,806 -107,009	-62%	-$7.59M
1002	VXX 1002 DELISTED iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019 VXX	$4.67M	0.01%	6,858 +769	+13%	+$524K
1003	1003 Toll Brothers TOL $14.2B	$4.65M	0.01%	125,678 +60,083	+92%	+$2.22M
1004	PMC 1004 DELISTED PharMerica Corporation PMC	$4.65M	0.01%	216,167 +184,882	+591%	+$3.98M
1005	WWAV 1005 DELISTED The WhiteWave Foods Company WWAV	$4.64M	0.01%	202,444 +172,463	+575%	+$3.96M
1006	EGL 1006 DELISTED Engility Holdings, Inc. EGL	$4.64M	0.01%	138,935 +87,553	+170%	+$2.92M
1007	GEVA 1007 DELISTED SYNAGEVA BIOPHARMA CORP COM STK (DE) GEVA	$4.63M	0.01%	+71,490	New	+$4.63M
1008	1008 Primerica PRI $8.89B	$4.63M	0.01%	+107,794	New	+$4.63M
1009	WINT 1009 DELISTED Windtree Therapeutics Inc WINT	$4.6M	0.01%	+145,867	New	+$4.6M
1010	1010 Aecom ACM $16.9B	$4.59M	0.01%	156,028 +146,212	+1,490%	+$4.3M
1011	1011 Eldorado Gold EGO $5.62B	$4.59M	0.01%	161,343 +51,142	+46%	+$1.45M
1012	1012 Amdocs DOX $9.39B	$4.59M	0.01%	111,218 -136,666	-55%	-$5.64M
1013	ORB 1013 DELISTED ORBITAL SCIENCES CORP ORB	$4.58M	0.01%	196,387 +6,879	+4%	+$160K
1014	1014 EPAM Systems EPAM $8.79B	$4.57M	0.01%	130,769 +19,518	+18%	+$682K
1015	MANT 1015 DELISTED Mantech International Corp MANT	$4.56M	0.01%	152,466 +134,515	+749%	+$4.03M
1016	1016 WEC Energy WEC $35.3B	$4.55M	0.01%	110,123 -4,848	-4%	-$200K
1017	HMIN 1017 DELISTED HOMEINNS HOTEL GROUP SPONSORED ADR HMIN	$4.55M	0.01%	104,217 +33,483	+47%	+$1.46M
1018	1018 Raymond James Financial RJF $34.1B	$4.54M	0.01%	130,614 -149,595	-53%	-$5.2M
1019	GG 1019 DELISTED Goldcorp Inc GG	$4.54M	0.01%	209,564 -40,844	-16%	-$885K
1020	1020 ScottsMiracle-Gro SMG $3.56B	$4.53M	0.01%	72,781 -10,699	-13%	-$666K
1021	1021 Pricesmart PSMT $3.63B	$4.51M	0.01%	+39,053	New	+$4.51M
1022	AOL 1022 DELISTED AOL INC COMMON STOCK AOL	$4.51M	0.01%	96,655 -177,351	-65%	-$8.27M
1023	HW 1023 DELISTED Headwaters Inc HW	$4.5M	0.01%	459,806 +267,647	+139%	+$2.62M
1024	1024 Dana Inc DAN $2.79B	$4.5M	0.01%	229,225 +168,738	+279%	+$3.31M
1025	ESRX 1025 DELISTED Express Scripts Holding Company ESRX	$4.49M	0.01%	63,931 -211,789	-77%	-$14.9M