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

-8.32%

1 Year Return

+13.71%

3 Year Return

+41.74%

5 Year Return

+76.27%

10 Year Return

+245.84%

AUM

$25B

AUM Growth

-$31.2B (-55%)

Cap. Flow

-$17.9B

Cap. Flow % of AUM

-71.69%

Top 10 Holdings % Top 10 Hldgs %

8.54%

Holding

4,043

New

555

Increased

1,018

Reduced

1,498

Closed

877

Top Buys

1	AGN Allergan plc AGN	+$188M
2	iShares 1-5 Year Investment Grade Corporate Bond ETF IGSB	+$136M
3	Danaher DHR	+$133M
4	Procter & Gamble PG	+$112M
5	TIF Tiffany & Co. TIF	+$101M

Top Sells

1	SPDR S&P 500 ETF Trust SPY	+$3.29B
2	Microsoft MSFT	+$365M
3	Alibaba BABA	+$328M
4	Ameren AEE	+$220M
5	American Electric Power AEP	+$206M

Sector Composition

1	Healthcare	20.2%
2	Technology	12.94%
3	Financials	11.48%
4	Consumer Discretionary	9.42%
5	Industrials	8.82%

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
1076	1076 Tetra Tech TTEK $9.46B	$4.67M	0.01%	+330,395	New	+$4.67M
1077	NXGN 1077 DELISTED NextGen Healthcare, Inc. Common Stock NXGN	$4.66M	0.01%	+446,632	New	+$4.66M
1078	EPZM 1078 DELISTED Epizyme, Inc EPZM	$4.66M	0.01%	300,646 +288,037	+2,284%	+$4.47M
1079	ISEE 1079 DELISTED IVERIC bio, Inc. Common Stock ISEE	$4.64M	0.01%	1,348,500 +474,633	+54%	+$1.63M
1080	MZTI 1080 The Marzetti Company Common Stock MZTI $5.04B	$4.63M	0.01%	+31,976	New	+$4.63M
1081	1081 Radian Group RDN $4.78B	$4.62M	0.01%	356,565 +164,677	+86%	+$2.13M
1082	1082 Schneider National SNDR $4.22B	$4.61M	0.01%	238,487 -838,793	-78%	-$16.2M
1083	1083 Criteo CRTO $1.14B	$4.6M	0.01%	578,534 +326,061	+129%	+$2.59M
1084	1084 Minerva Neurosciences NERV $15M	$4.6M	0.01%	95,443 -6,734	-7%	-$324K
1085	1085 AudioCodes AUDC $289M	$4.6M	0.01%	192,378 +138,359	+256%	+$3.31M
1086	GLOG 1086 DELISTED GASLOG LTD GLOG	$4.59M	0.01%	1,267,167 +951,155	+301%	+$3.44M
1087	SBNY 1087 DELISTED Signature Bank SBNY	$4.59M	0.01%	57,029 +50,654	+795%	+$4.07M
1088	1088 TripAdvisor TRIP $2.05B	$4.58M	0.01%	263,514 +210,039	+393%	+$3.65M
1089	1089 FTI Consulting FCN $5.32B	$4.58M	0.01%	38,255 -21,656	-36%	-$2.59M
1090	1090 Brink's BCO $4.87B	$4.57M	0.01%	87,762 +75,877	+638%	+$3.95M
1091	1091 Interparfums IPAR $3.42B	$4.55M	0.01%	98,252 +29,242	+42%	+$1.36M
1092	RAVN 1092 DELISTED Raven Industries Inc RAVN	$4.55M	0.01%	214,166 -71,282	-25%	-$1.51M
1093	1093 Energy Select Sector SPDR Fund XLE $27B	$4.55M	0.01%	156,444 -131,798	-46%	-$3.83M
1094	1094 Jazz Pharmaceuticals JAZZ $7.7B	$4.53M	0.01%	45,433 -332	-0.7%	-$33.1K
1095	DCOM 1095 DELISTED Dime Community Bancshares DCOM	$4.53M	0.01%	330,281 -16,387	-5%	-$225K
1096	1096 MillerKnoll MLKN $1.41B	$4.53M	0.01%	203,902 +196,594	+2,690%	+$4.36M
1097	RSX 1097 DELISTED VanEck Russia ETF RSX	$4.53M	0.01%	271,334 +167,068	+160%	+$2.79M
1098	VG 1098 DELISTED Vonage Holdings Corporation VG	$4.52M	0.01%	625,182 -3,743,338	-86%	-$27.1M
1099	1099 TIM SA TIMB $10.2B	$4.51M	0.01%	371,078 -217,366	-37%	-$2.64M
1100	S 1100 DELISTED Sprint Corporation S	$4.51M	0.01%	523,302 -2,560,172	-83%	-$22.1M