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

+1.4%

1 Year Return

+13.71%

3 Year Return

+41.74%

5 Year Return

+76.27%

10 Year Return

+245.84%

AUM

$36.5B

AUM Growth

-$7.74B (-17%)

Cap. Flow

-$7.28B

Cap. Flow % of AUM

-19.93%

Top 10 Holdings % Top 10 Hldgs %

7.2%

Holding

3,696

New

524

Increased

1,040

Reduced

1,381

Closed

707

Top Buys

1	APC Anadarko Petroleum APC	+$177M
2	ConocoPhillips COP	+$174M
3	PepsiCo PEP	+$165M
4	AT&T T	+$154M
5	Fidelity National Information Services FIS	+$147M

Top Sells

1	NextEra Energy, Inc. NEE	+$263M
2	PPL Corp PPL	+$257M
3	Occidental Petroleum OXY	+$226M
4	Lowe's Companies LOW	+$193M
5	American Electric Power AEP	+$183M

Sector Composition

1	Healthcare	12.99%
2	Energy	10.03%
3	Technology	9.74%
4	Consumer Discretionary	9.46%
5	Financials	9.36%

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
1251	1251 Pampa Energía PAM $3.23B	$4.17M	0.01%	194,580 +162,080	+499%	+$3.48M
1252	GHL 1252 DELISTED Greenhill & Co., Inc. GHL	$4.17M	0.01%	+187,691	New	+$4.17M
1253	1253 iShares S&P 500 Growth ETF IVW $65.4B	$4.16M	0.01%	143,548 +86,768	+153%	+$2.51M
1254	FOE 1254 DELISTED Ferro Corporation FOE	$4.15M	0.01%	349,808 -633,054	-64%	-$7.51M
1255	1255 iShares National Muni Bond ETF MUB $39.5B	$4.15M	0.01%	+37,150	New	+$4.15M
1256	1256 Babcock & Wilcox BW $281M	$4.15M	0.01%	19,379 +1,275	+7%	+$273K
1257	LTRPA 1257 DELISTED Liberty TripAdvisor Holdings, Inc. Series A LTRPA	$4.15M	0.01%	187,035 +98,790	+112%	+$2.19M
1258	1258 Alamo Group ALG $2.49B	$4.14M	0.01%	74,392 +47,430	+176%	+$2.64M
1259	1259 Jefferies Financial Group JEF $13.7B	$4.13M	0.01%	285,385 -47,411	-14%	-$686K
1260	1260 Ambac AMBC $413M	$4.11M	0.01%	259,890 -403,461	-61%	-$6.37M
1261	WRI 1261 DELISTED Weingarten Realty Investors WRI	$4.1M	0.01%	109,242 -226,894	-68%	-$8.51M
1262	1262 WNS Holdings WNS $3.25B	$4.08M	0.01%	133,203 -104,978	-44%	-$3.22M
1263	1263 1-800-Flowers.com FLWS $343M	$4.06M	0.01%	+514,902	New	+$4.06M
1264	CWEI 1264 DELISTED Clayton Williams Energy, Inc. CWEI	$4.05M	0.01%	453,877 -252,137	-36%	-$2.25M
1265	1265 Clearway Energy Class C CWEN $3.39B	$4.05M	0.01%	284,298 -665,865	-70%	-$9.48M
1266	CLC 1266 DELISTED Clarcor CLC	$4.05M	0.01%	+70,012	New	+$4.05M
1267	ARRY 1267 DELISTED Array Biopharma Inc ARRY	$4.03M	0.01%	1,366,105 -3,707,884	-73%	-$10.9M
1268	1268 Quad QUAD $333M	$4.02M	0.01%	+310,512	New	+$4.02M
1269	1269 Nomad Foods NOMD $2.12B	$4.02M	0.01%	+445,862	New	+$4.02M
1270	TECD 1270 DELISTED Tech Data Corp TECD	$4.01M	0.01%	52,222 +48,152	+1,183%	+$3.7M
1271	1271 RLJ Lodging Trust RLJ $1.15B	$4M	0.01%	174,834 -257,901	-60%	-$5.9M
1272	BNCL 1272 DELISTED Beneficial Bancorp, Inc. BNCL	$4M	0.01%	292,004 -239,464	-45%	-$3.28M
1273	1273 MYR Group MYRG $2.73B	$3.99M	0.01%	159,074 +20,633	+15%	+$518K
1274	FL 1274 DELISTED Foot Locker FL	$3.99M	0.01%	61,838 -158,602	-72%	-$10.2M
1275	SGNT 1275 DELISTED SAGENT PHARMACEUTICALS INC COM STK (DE) SGNT	$3.98M	0.01%	327,021 -376,515	-54%	-$4.58M