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 | |
|---|---|---|---|---|---|---|
1526
Annaly Capital Management
NLY
$17.2B
| $20M | 0.01% |
894,532
-659,962
| -42% | -$14.4M |
|
1527
Rhythm Pharmaceuticals
RYTM
$6.77B
| $20M | 0.01% |
186,709
+53,548
| +40% | +$5.68M |
|
1528
CALL
American Electric Power
AEP
$69.6B
| $20M | 0.01% |
173,200
+22,500
| +15% | +$2.66M |
|
1529
CALL
D.R. Horton
DHI
$40.1B
| $19.9M | 0.01% |
138,000
+12,700
| +10% | +$1.93M |
|
1530
Enbridge
ENB
$119B
| $19.9M | 0.01% |
415,022
+404,482
| +3,838% | +$19.3M |
|
1531
Larimar Therapeutics
LRMR
$394M
| $19.8M | 0.01% |
5,206,364
+309,533
| +6% | +$1.2M |
|
1532
Wendy's
WEN
$1.4B
| $19.8M | 0.01% |
2,380,938
+381,068
| +19% | +$3.29M |
|
1533
PUT
SoFi Technologies
SOFI
$21.1B
| $19.8M | 0.01% |
757,100
-411,800
| -35% | -$11.5M |
|
1534
Albany International
AIN
$2.12B
| $19.8M | 0.01% |
390,903
+77,073
| +25% | +$3.99M |
|
1535
Dillards
DDS
$9.2B
| $19.8M | 0.01% |
32,599
+21,800
| +202% | +$13.7M |
|
1536
Q2 Holdings
QTWO
$3.85B
| $19.7M | 0.01% |
+273,672
| New | +$18.8M |
|
1537
Kyndryl
KD
$3B
| $19.7M | 0.01% |
743,507
+162,900
| +28% | +$4.42M |
|
|
EFOR
1538
Everforth Inc
EFOR
$1.15B
| $19.7M | 0.01% |
409,781
+20,421
| +5% | +$941K |
|
1539
Capricor Therapeutics
CAPR
$225M
| $19.7M | 0.01% |
682,344
+479,885
| +237% | +$6.27M |
|
1540
Payoneer
PAYO
$2.42B
| $19.7M | 0.01% |
4,676,041
-2,222,064
| -32% | -$12.8M |
|
1541
Reddit
RDDT
$27.3B
| $19.6M | 0.01% |
85,397
-168,499
| -66% | -$35.4M |
|
1542
PUT
BILL Holdings
BILL
$4.52B
| $19.6M | 0.01% |
359,300
-27,500
| -7% | -$1.41M |
|
1543
Vaxcyte
PCVX
$7.85B
| $19.6M | 0.01% |
424,294
-524,673
| -55% | -$23.5M |
|
|
LAC
1544
Lithium Americas
LAC
$1.01B
| $19.6M | 0.01% |
4,489,568
+1,182,465
| +36% | +$6.83M |
|
1545
Astronics
ATRO
$3.44B
| $19.6M | 0.01% |
432,713
+16,911
| +4% | +$709K |
|
1546
Stantec
STN
$8.07B
| $19.5M | 0.01% |
207,075
+128,674
| +164% | +$13.3M |
|
1547
PUT
Honeywell
HON
$77.8B
| $19.5M | 0.01% |
100,100
-157,086
| -61% | -$30.7M |
|
1548
CALL
Delta Air Lines
DAL
$57.6B
| $19.5M | 0.01% |
280,500
-97,400
| -26% | -$6.09M |
|
1549
M&T Bank
MTB
$35.8B
| $19.4M | 0.01% |
96,332
-215,493
| -69% | -$41.2M |
|
1550
PUT
Toronto Dominion Bank
TD
$199B
| $19.4M | 0.01% |
150,000
| – | – |
|
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.