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 | |
|---|---|---|---|---|---|---|
1476
Zillow
ZG
$7.63B
| $22.8M | 0.01% |
305,986
-425,261
| -58% | -$33.5M |
|
1477
Glacier Bancorp
GBCI
$6.35B
| $22.8M | 0.01% |
467,613
-42,479
| -8% | -$1.99M |
|
1478
Duke Energy
DUK
$97.3B
| $22.8M | 0.01% |
183,881
-12,444
| -6% | -$1.51M |
|
1479
Lantheus
LNTH
$6.59B
| $22.7M | 0.01% |
443,466
+351,257
| +381% | +$22M |
|
1480
Affirm
AFRM
$25.2B
| $22.7M | 0.01% |
311,071
-1,029,335
| -77% | -$78.3M |
|
1481
Alight
ALIT
$407M
| $22.7M | 0.01% |
348,209
+345,561
| +13,050% | +$30.5M |
|
1482
PUT
TC Energy
TRP
$65.9B
| $22.7M | 0.01% |
300,000
| – | – |
|
1483
PUT
British American Tobacco
BTI
$128B
| $22.7M | 0.01% |
427,400
+336,200
| +369% | +$18.3M |
|
1484
Mirum Pharmaceuticals
MIRM
$6.14B
| $22.7M | 0.01% |
309,031
+20,872
| +7% | +$1.33M |
|
1485
CALL
American Express
AXP
$230B
| $22.7M | 0.01% |
68,200
-63,900
| -48% | -$20.3M |
|
1486
CALL
SoFi Technologies
SOFI
$23.7B
| $22.6M | 0.01% |
854,700
-98,400
| -10% | -$2.33M |
|
1487
CALL
Airbnb
ABNB
$107B
| $22.6M | 0.01% |
185,800
-46,300
| -20% | -$5.99M |
|
1488
Lincoln National
LNC
$8.81B
| $22.5M | 0.01% |
557,312
-39,593
| -7% | -$1.53M |
|
1489
Element Solutions
ESI
$9.23B
| $22.5M | 0.01% |
892,072
-1,801,964
| -67% | -$44.9M |
|
1490
LKQ Corp
LKQ
$6.29B
| $22.4M | 0.01% |
+733,718
| New | +$24.1M |
|
1491
CALL
KLA
KLAC
$259B
| $22.3M | 0.01% |
207,000
+15,000
| +8% | +$1.4M |
|
1492
CALL
Cadence Design Systems
CDNS
$93.4B
| $22.3M | 0.01% |
63,500
-100
| -0.2% | -$34.4K |
|
1493
Banner Corp
BANR
$2.4B
| $22.3M | 0.01% |
340,215
+84,805
| +33% | +$5.58M |
|
1494
AutoNation
AN
$6.92B
| $22.2M | 0.01% |
101,684
-147,541
| -59% | -$31.1M |
|
1495
Stride
LRN
$3.43B
| $22.2M | 0.01% |
149,292
-161,354
| -52% | -$23.7M |
|
1496
Liquidia Corp
LQDA
$8.02B
| $22.2M | 0.01% |
974,703
+954,124
| +4,636% | +$20.7M |
|
1497
Principal Financial Group
PFG
$24.3B
| $22.1M | 0.01% |
267,137
-23,244
| -8% | -$1.86M |
|
1498
Franco-Nevada
FNV
$46B
| $22.1M | 0.01% |
99,295
-390,921
| -80% | -$70.4M |
|
1499
Shake Shack
SHAK
$2.87B
| $22.1M | 0.01% |
236,340
-160,748
| -40% | -$18.5M |
|
|
HPP
1500
Hudson Pacific Properties
HPP
$779M
| $22.1M | 0.01% |
1,144,600
-277,838
| -20% | -$5.24M |
|
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.