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 | |
|---|---|---|---|---|---|---|
1026
PUT
State Street Materials Select Sector SPDR ETF
XLB
$8.72B
| $35.4M | 0.01% |
780,000
-50,000
| -6% | -$2.21M |
|
1027
AerCap
AER
$23.4B
| $35.4M | 0.01% |
246,014
-115,517
| -32% | -$15.3M |
|
1028
Freshworks
FRSH
$3.21B
| $35.3M | 0.01% |
2,881,217
-240,822
| -8% | -$2.85M |
|
|
Q
1029
Qnity Electronics Inc
Q
$25.8B
| $35.2M | 0.01% |
+430,497
| New | +$36.6M |
|
|
CURB
1030
Curbline Properties
CURB
$3.53B
| $35.1M | 0.01% |
1,514,222
+262,778
| +21% | +$6.13M |
|
1031
Cenovus Energy
CVE
$54.2B
| $35.1M | 0.01% |
2,076,407
-743,308
| -26% | -$12.9M |
|
1032
State Street Energy Select Sector SPDR ETF
XLE
$39B
| $35.1M | 0.01% |
784,377
+381,303
| +95% | +$17M |
|
1033
Sunrun
RUN
$2.26B
| $35M | 0.01% |
1,903,153
+169,612
| +10% | +$3.25M |
|
|
B
1034
PUT
Barrick Mining
B
$60.9B
| $35M | 0.01% |
803,900
+311,400
| +63% | +$11.7M |
|
1035
Delta Air Lines
DAL
$56.7B
| $34.7M | 0.01% |
500,545
-1,930,017
| -79% | -$121M |
|
1036
American Financial Group
AFG
$11.9B
| $34.7M | 0.01% |
253,932
+167,834
| +195% | +$23M |
|
1037
Coca-Cola Consolidated
COKE
$12.8B
| $34.6M | 0.01% |
225,947
+24,299
| +12% | +$3.56M |
|
1038
Fortrea Holdings
FTRE
$1.93B
| $34.6M | 0.01% |
2,004,626
+651,416
| +48% | +$8.05M |
|
1039
Phathom Pharmaceuticals
PHAT
$928M
| $34.5M | 0.01% |
2,082,180
-2,999,271
| -59% | -$42.8M |
|
1040
Prologis
PLD
$136B
| $34.5M | 0.01% |
270,579
-709,621
| -72% | -$88.5M |
|
1041
PUT
DraftKings
DKNG
$12.2B
| $34.5M | 0.01% |
1,001,000
-400,200
| -29% | -$13.2M |
|
1042
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$21.7B
| $34.5M | 0.01% |
288,748
+28,564
| +11% | +$3.39M |
|
1043
PUT
Carnival Corporation Ltd
CCL
$38.1B
| $34.4M | 0.01% |
1,127,300
+318,500
| +39% | +$8.88M |
|
|
STEL
1044
DELISTED
Stellar Bancorp
STEL
| $34.4M | 0.01% |
1,112,352
-125,478
| -10% | -$3.86M |
|
1045
Cadence Design Systems
CDNS
$91.6B
| $34.3M | 0.01% |
109,754
+18,857
| +21% | +$6.15M |
|
1046
Cirrus Logic
CRUS
$6.76B
| $34.3M | 0.01% |
289,330
-165,929
| -36% | -$20.4M |
|
1047
Vita Coco
COCO
$3.86B
| $34.3M | 0.01% |
646,136
-579,667
| -47% | -$27.2M |
|
1048
Macy's
M
$6.51B
| $34.2M | 0.01% |
1,552,562
+331,774
| +27% | +$6.79M |
|
1049
Kiniksa Pharmaceuticals
KNSA
$6.31B
| $34M | 0.01% |
825,285
-188,840
| -19% | -$7.58M |
|
1050
Global X Uranium ETF
URA
$5.21B
| $33.9M | 0.01% |
794,482
+783,852
| +7,374% | +$37.9M |
|
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.