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 | |
|---|---|---|---|---|---|---|
101
Dycom Industries
DY
$12.9B
| $329M | 0.14% |
973,180
-351,758
| -27% | -$111M |
|
102
Capital One
COF
$124B
| $328M | 0.14% |
1,355,146
-29,400
| -2% | -$6.54M |
|
103
Chevron
CVX
$388B
| $328M | 0.14% |
2,151,249
+127,678
| +6% | +$19.4M |
|
|
GTLS
104
DELISTED
Chart Industries
GTLS
| $327M | 0.14% |
1,586,588
+772,723
| +95% | +$157M |
|
105
Procter & Gamble
PG
$343B
| $327M | 0.14% |
2,278,388
+500,128
| +28% | +$73.7M |
|
106
CALL
State Street Energy Select Sector SPDR ETF
XLE
$39.5B
| $324M | 0.14% |
7,238,400
-5,837,000
| -45% | -$260M |
|
107
PUT
Johnson & Johnson
JNJ
$635B
| $322M | 0.14% |
1,557,800
+557,200
| +56% | +$110M |
|
108
CALL
Alibaba
BABA
$269B
| $318M | 0.13% |
2,167,400
+1,179,500
| +119% | +$192M |
|
|
109
PUT
Alibaba
BABA
$269B
| $313M | 0.13% |
2,132,400
+457,500
| +27% | +$74.5M |
|
110
Micron Technology
MU
$1.04T
| $312M | 0.13% |
1,093,398
+289,292
| +36% | +$66.4M |
|
111
International Flavors & Fragrances
IFF
$19.4B
| $297M | 0.12% |
4,404,578
+4,223,505
| +2,332% | +$273M |
|
112
Regeneron Pharmaceuticals
REGN
$68.8B
| $293M | 0.12% |
379,768
+178,688
| +89% | +$121M |
|
113
TPG
TPG
$6.87B
| $293M | 0.12% |
4,584,733
+1,837,799
| +67% | +$108M |
|
114
Ball Corp
BALL
$17B
| $292M | 0.12% |
5,516,445
+4,578,020
| +488% | +$225M |
|
115
Ross Stores
ROST
$76.6B
| $291M | 0.12% |
1,614,858
-235,198
| -13% | -$39.2M |
|
116
PUT
iShares China Large-Cap ETF
FXI
$4.31B
| $290M | 0.12% |
7,586,200
+801,200
| +12% | +$31.8M |
|
117
Netflix
NFLX
$292B
| $287M | 0.12% |
3,056,387
+1,370,767
| +81% | +$148M |
|
118
CALL
iShares MSCI Emerging Markets ETF
EEM
$28B
| $286M | 0.12% |
5,230,700
-6,183,800
| -54% | -$336M |
|
119
StepStone Group
STEP
$3.48B
| $286M | 0.12% |
4,456,150
+561,176
| +14% | +$35.5M |
|
120
Medtronic
MDT
$107B
| $286M | 0.12% |
2,975,488
-1,832,580
| -38% | -$178M |
|
121
Wells Fargo
WFC
$261B
| $285M | 0.12% |
3,052,580
+1,374,455
| +82% | +$119M |
|
|
FYBR
122
DELISTED
Frontier Communications
FYBR
| $284M | 0.12% |
7,455,387
+2,427,135
| +48% | +$91.7M |
|
123
MSCI
MSCI
$40B
| $279M | 0.12% |
485,967
+151,999
| +46% | +$85.3M |
|
|
124
PUT
Bank of America
BAC
$435B
| $278M | 0.12% |
5,052,700
-716,100
| -12% | -$37.9M |
|
125
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.7B
| $275M | 0.12% |
2,500,000
+1,233,300
| +97% | +$137M |
|
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.