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 | |
|---|---|---|---|---|---|---|
1351
Rambus
RMBS
$9.72B
| $24.1M | 0.01% |
262,578
+65,346
| +33% | +$6.43M |
|
|
ECHO
1352
CALL
EchoStar
ECHO
$25B
| $24.1M | 0.01% |
221,900
+69,700
| +46% | +$5.68M |
|
1353
PUT
Steris
STE
$22.5B
| $24.1M | 0.01% |
95,000
+59,800
| +170% | +$15M |
|
1354
CALL
Valero Energy
VLO
$92.6B
| $24.1M | 0.01% |
147,800
-227,000
| -61% | -$38.5M |
|
1355
PUT
US Bancorp
USB
$98B
| $24.1M | 0.01% |
450,800
-135,700
| -23% | -$6.67M |
|
1356
Cytek Biosciences
CTKB
$557M
| $24M | 0.01% |
4,752,447
+1,334,065
| +39% | +$6.19M |
|
1357
CALL
Constellation Brands
STZ
$22.3B
| $24M | 0.01% |
173,900
+61,800
| +55% | +$8.48M |
|
1358
Phibro Animal Health
PAHC
$1.48B
| $24M | 0.01% |
641,313
+626,492
| +4,227% | +$25.4M |
|
1359
CALL
Coherent
COHR
$48.7B
| $24M | 0.01% |
129,800
+76,700
| +144% | +$11.5M |
|
1360
Liberty Global Class A
LBTYA
$3.56B
| $23.9M | 0.01% |
2,149,639
+1,190,464
| +124% | +$13.2M |
|
1361
Construction Partners
ROAD
$5.75B
| $23.9M | 0.01% |
220,312
+208,193
| +1,718% | +$23.4M |
|
1362
Hudbay
HBM
$10.1B
| $23.9M | 0.01% |
1,203,806
-3,971
| -0.3% | -$67.2K |
|
|
LMRI
1363
Lumexa Imaging Holdings
LMRI
$985M
| $23.9M | 0.01% |
+1,290,664
| New | +$23.3M |
|
1364
Crown Castle
CCI
$33.4B
| $23.8M | 0.01% |
268,361
-488,367
| -65% | -$44.9M |
|
|
APLS
1365
DELISTED
Apellis Pharmaceuticals
APLS
| $23.8M | 0.01% |
946,459
-397,267
| -30% | -$9.32M |
|
1366
CALL
Etsy
ETSY
$7.89B
| $23.8M | 0.01% |
428,800
+243,900
| +132% | +$14.9M |
|
1367
Sibanye-Stillwater
SBSW
$6.43B
| $23.7M | 0.01% |
1,665,426
+199,616
| +14% | +$2.42M |
|
1368
Rayonier
RYN
$6.43B
| $23.7M | 0.01% |
1,096,152
+145,747
| +15% | +$3.3M |
|
1369
Reynolds Consumer Products
REYN
$5.32B
| $23.7M | 0.01% |
1,034,668
+359,846
| +53% | +$8.68M |
|
1370
CALL
Capital One
COF
$129B
| $23.7M | 0.01% |
97,800
-37,800
| -28% | -$8.41M |
|
1371
Oshkosh
OSK
$8.82B
| $23.5M | 0.01% |
187,418
+36,594
| +24% | +$4.71M |
|
1372
Aptiv
APTV
$12.3B
| $23.5M | 0.01% |
309,329
-571,453
| -65% | -$45.9M |
|
1373
Adtran
ADTN
$682M
| $23.4M | 0.01% |
2,694,800
+2,122,844
| +371% | +$18.4M |
|
1374
Certara
CERT
$1.21B
| $23.4M | 0.01% |
2,653,047
-262,625
| -9% | -$2.71M |
|
1375
Marathon Petroleum
MPC
$91.7B
| $23.3M | 0.01% |
143,356
-1,339,626
| -90% | -$250M |
|
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.