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 |
NVIDIA
NVDA
|
+$1.78B |
| 2 |
Apple
AAPL
|
+$1.13B |
| 3 |
ETHA
iShares Ethereum Trust ETF
ETHA
|
+$834M |
| 4 |
iShares Core S&P 500 ETF
IVV
|
+$784M |
| 5 |
Norfolk Southern
NSC
|
+$613M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Applovin
APP
|
+$1.19B |
| 2 |
Palantir
PLTR
|
+$742M |
| 3 |
HES
Hess
HES
|
+$478M |
| 4 |
Oracle
ORCL
|
+$465M |
| 5 |
Thomson Reuters
TRI
|
+$442M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 9.28% |
| 2 | Financials | 7.68% |
| 3 | Healthcare | 6.5% |
| 4 | Industrials | 5.87% |
| 5 | Consumer Discretionary | 4.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1451
CALL
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.41B
| $23.3M | 0.01% |
2,004,578
-251,291
| -11% | -$2.13M |
|
1452
Equinox Gold
EQX
$13.5B
| $23.3M | 0.01% |
2,073,717
+441,685
| +27% | +$3.51M |
|
1453
Hanover Insurance
THG
$7.98B
| $23.3M | 0.01% |
128,018
-90,279
| -41% | -$15.5M |
|
1454
Blackbaud
BLKB
$2.08B
| $23.2M | 0.01% |
361,335
-107,702
| -23% | -$7.05M |
|
|
CPRX
1455
DELISTED
Catalyst Pharmaceutical
CPRX
| $23.2M | 0.01% |
1,179,182
+749,052
| +174% | +$15.4M |
|
1456
SM Energy
SM
$6.87B
| $23.2M | 0.01% |
929,463
-158,773
| -15% | -$4.28M |
|
1457
CALL
CSX Corp
CSX
$93.1B
| $23.2M | 0.01% |
653,100
+557,700
| +585% | +$19M |
|
1458
Evertec
EVTC
$1.78B
| $23.2M | 0.01% |
686,281
+603,753
| +732% | +$21.1M |
|
1459
CleanSpark
CLSK
$3.16B
| $23.2M | 0.01% |
1,598,771
+1,035,837
| +184% | +$11.7M |
|
1460
Upstart Holdings
UPST
$3.03B
| $23.2M | 0.01% |
456,251
+328,916
| +258% | +$23.1M |
|
1461
MGIC Investment
MTG
$6.25B
| $23.1M | 0.01% |
815,720
+489,929
| +150% | +$13.4M |
|
1462
American International
AIG
$41.3B
| $23.1M | 0.01% |
294,540
-446,983
| -60% | -$35.7M |
|
1463
Birkenstock
BIRK
$7.07B
| $23.1M | 0.01% |
510,912
+403,219
| +374% | +$19.7M |
|
1464
KT
KT
$8.81B
| $23.1M | 0.01% |
1,184,342
-157,665
| -12% | -$3.21M |
|
1465
CALL
Microchip Technology
MCHP
$46B
| $23.1M | 0.01% |
359,100
-31,400
| -8% | -$2.13M |
|
1466
CALL
Veeva Systems
VEEV
$37.4B
| $23M | 0.01% |
77,200
+13,000
| +20% | +$3.66M |
|
1467
CNO Financial Group
CNO
$5.1B
| $22.9M | 0.01% |
579,656
+379,984
| +190% | +$14.5M |
|
1468
PUT
Rio Tinto
RIO
$164B
| $22.9M | 0.01% |
347,300
+342,300
| +6,846% | +$21.2M |
|
1469
NetEase
NTES
$84.7B
| $22.9M | 0.01% |
150,659
+50,211
| +50% | +$6.91M |
|
1470
PUT
UBS Group
UBS
$176B
| $22.9M | 0.01% |
627,600
-55,100
| -8% | -$2.14M |
|
1471
PUT
American Airlines Group
AAL
$10.6B
| $22.9M | 0.01% |
2,034,900
+633,300
| +45% | +$7.8M |
|
1472
Sonos
SONO
$1.85B
| $22.8M | 0.01% |
1,445,900
+132,369
| +10% | +$1.7M |
|
1473
American Water Works
AWK
$26.9B
| $22.8M | 0.01% |
163,932
+111,459
| +212% | +$15.7M |
|
1474
Plug Power
PLUG
$3.04B
| $22.8M | 0.01% |
9,778,839
+9,416,870
| +2,602% | +$16M |
|
1475
CALL
iShares US Home Construction ETF
ITB
$2.41B
| $22.8M | 0.01% |
212,400
-219,900
| -51% | -$23.2M |
|
Similar funds
Millennium Management's Q3 2025 Portfolio in Review
As of Q3 2025, Millennium Management held 6,610 positions worth $234B, up 13% from $207B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Millennium Management's Q3 2025 filing shows 800 new, 2,296 increased, 2,513 reduced and 633 closed positions. Its largest new stake was Vanguard Long-Term Corporate Bond ETF: 1,212,092 shares worth $94.1M. The largest sale was Applovin, an estimated $1.19B.
By sector, the portfolio is most concentrated in Technology at 9.3% of assets, up from 8.7% a quarter earlier, followed by Financials and Healthcare.
- Millennium Management's largest Q3 2025 buy was Vanguard Long-Term Corporate Bond ETF: 1,212,092 shares worth $94.1M.
- Millennium Management added most to NVIDIA in Q3 2025, an estimated $1.78B increase.
- Millennium Management's biggest Q3 2025 reduction was Applovin, cutting an estimated $1.19B.
- Millennium Management fully exited Hess in Q3 2025, selling an estimated $478M.
- Millennium Management's ten largest holdings make up 18% of its $234B portfolio in Q3 2025.
- Millennium Management opened 800 new positions and closed 633 in Q3 2025.
- Millennium Management's portfolio value rose 13% quarter-over-quarter to $234B.
Based on Millennium Management's 13F filing for Q3 2025, filed 14 Nov 2025.