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 | |
|---|---|---|---|---|---|---|
1826
MediaAlpha
MAX
$821M
| $16.3M | 0.01% |
1,429,556
+1,246,493
| +681% | +$13.8M |
|
1827
Flowserve
FLS
$10.2B
| $16.2M | 0.01% |
305,605
-1,076,135
| -78% | -$58.4M |
|
1828
Vanda Pharmaceuticals
VNDA
$302M
| $16.2M | 0.01% |
3,250,836
+130,497
| +4% | +$604K |
|
1829
Sable Offshore Corp
SOC
$911M
| $16.2M | 0.01% |
927,611
+711,791
| +330% | +$18.2M |
|
1830
CALL
Alnylam Pharmaceuticals
ALNY
$29.3B
| $16.2M | 0.01% |
35,500
-9,600
| -21% | -$3.91M |
|
|
B
1831
PUT
Barrick Mining
B
$73.2B
| $16.1M | 0.01% |
492,500
+22,300
| +5% | +$565K |
|
1832
VICI Properties
VICI
$29.4B
| $16.1M | 0.01% |
494,297
-25,299
| -5% | -$834K |
|
1833
SGHC Ltd
SGHC
$6.63B
| $16.1M | 0.01% |
1,220,665
-410,683
| -25% | -$4.83M |
|
1834
CALL
Southern Copper
SCCO
$166B
| $16.1M | 0.01% |
+136,315
| New | +$13.4M |
|
1835
Syndax Pharmaceuticals
SNDX
$1.82B
| $16.1M | 0.01% |
1,046,456
-552,157
| -35% | -$7.23M |
|
1836
Vertex Pharmaceuticals
VRTX
$126B
| $16.1M | 0.01% |
+41,042
| New | +$17.2M |
|
1837
CALL
Parker-Hannifin
PH
$135B
| $16.1M | 0.01% |
21,200
-4,300
| -17% | -$3.17M |
|
1838
Pegasystems
PEGA
$5.38B
| $16.1M | 0.01% |
279,509
+244,105
| +689% | +$13.5M |
|
1839
PUT
iShares MSCI Japan ETF
EWJ
$23B
| $16M | 0.01% |
200,000
+89,500
| +81% | +$6.92M |
|
|
BCAX
1840
Bicara Therapeutics
BCAX
$1.84B
| $16M | 0.01% |
1,014,892
+273,873
| +37% | +$3.07M |
|
1841
CALL
Ciena
CIEN
$58.4B
| $16M | 0.01% |
109,900
+18,000
| +20% | +$1.83M |
|
|
MRC
1842
DELISTED
MRC Global
MRC
| $16M | 0.01% |
1,107,634
+696,062
| +169% | +$9.91M |
|
1843
CALL
Twilio
TWLO
$36.6B
| $16M | 0.01% |
159,400
+93,700
| +143% | +$10.5M |
|
1844
AES
AES
$10.5B
| $15.9M | 0.01% |
1,209,566
+737,067
| +156% | +$9.57M |
|
1845
CALL
Cloudflare
NET
$107B
| $15.9M | 0.01% |
74,000
-117,100
| -61% | -$23.9M |
|
1846
PUT
Atlassian
TEAM
$37.8B
| $15.9M | 0.01% |
99,400
-82,900
| -45% | -$15M |
|
|
BBNX
1847
Beta Bionics
BBNX
$715M
| $15.8M | 0.01% |
796,964
+254,766
| +47% | +$4.48M |
|
1848
CALL
United Airlines
UAL
$42.1B
| $15.8M | 0.01% |
164,100
-132,400
| -45% | -$12.7M |
|
1849
Larimar Therapeutics
LRMR
$432M
| $15.8M | 0.01% |
4,896,831
+1,241,642
| +34% | +$4.66M |
|
1850
Astronics
ATRO
$3.84B
| $15.8M | 0.01% |
415,802
-405,280
| -49% | -$12.3M |
|
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.