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 | |
|---|---|---|---|---|---|---|
1976
Strategic Education
STRA
$1.85B
| $12.2M | 0.01% |
151,982
-64,135
| -30% | -$5.12M |
|
1977
Zegna
ZGN
$3.95B
| $12.2M | 0.01% |
1,188,887
+504,546
| +74% | +$5.15M |
|
1978
BJ's Restaurants
BJRI
$1.42B
| $12.2M | 0.01% |
309,269
+246,733
| +395% | +$8.76M |
|
1979
iShares US Home Construction ETF
ITB
$2.26B
| $12.2M | 0.01% |
126,498
+86,207
| +214% | +$8.7M |
|
1980
Nomura Holdings
NMR
$28.3B
| $12.2M | 0.01% |
1,451,595
+517,250
| +55% | +$3.86M |
|
1981
Intuitive Machines
LUNR
$1.98B
| $12.2M | 0.01% |
749,383
-1,159,862
| -61% | -$13.4M |
|
1982
PUT
NXP Semiconductors
NXPI
$57.8B
| $12.2M | 0.01% |
56,000
+4,000
| +8% | +$858K |
|
1983
CALL
Cummins
CMI
$87.5B
| $12.1M | 0.01% |
23,800
+9,600
| +68% | +$4.49M |
|
1984
PUT
AstraZeneca
AZN
$263B
| $12.1M | 0.01% |
66,050
-123,650
| -65% | -$21.7M |
|
1985
PUT
Pembina Pipeline
PBA
$28.4B
| $12.1M | 0.01% |
232,000
| – | – |
|
1986
CALL
SoFi Technologies
SOFI
$21B
| $12.1M | 0.01% |
462,500
-392,200
| -46% | -$10.9M |
|
1987
PUT
Trade Desk
TTD
$8.48B
| $12.1M | 0.01% |
318,600
-312,900
| -50% | -$13.9M |
|
1988
Butterfly Network
BFLY
$1.89B
| $12.1M | 0.01% |
3,174,053
+1,653,168
| +109% | +$4.5M |
|
1989
Procept Biorobotics
PRCT
$1.06B
| $12.1M | 0.01% |
383,137
+278,077
| +265% | +$9.22M |
|
1990
Franklin Resources
BEN
$17.6B
| $12.1M | 0.01% |
504,539
-125,501
| -20% | -$2.88M |
|
1991
Ambarella
AMBA
$3.77B
| $12M | 0.01% |
169,852
+51,030
| +43% | +$4.12M |
|
1992
CNX Resources
CNX
$5.3B
| $12M | 0.01% |
327,088
+4,172
| +1% | +$149K |
|
1993
Global Payments
GPN
$23B
| $12M | 0.01% |
155,316
+32,365
| +26% | +$2.61M |
|
1994
Castle Biosciences
CSTL
$855M
| $12M | 0.01% |
308,914
-266,175
| -46% | -$8.58M |
|
|
GPACU
1995
General Purpose Acquisition Corp Units
GPACU
$209M
| $12M | 0.01% |
+1,200,000
| New | +$12M |
|
1996
Lifestance Health
LFST
$4B
| $12M | 0.01% |
1,705,015
+231,459
| +16% | +$1.4M |
|
1997
Broadstone Net Lease
BNL
$4.11B
| $12M | 0.01% |
690,602
-668,191
| -49% | -$12M |
|
1998
Avalo Therapeutics
AVTX
$965M
| $12M | 0.01% |
659,979
+522,548
| +380% | +$8.82M |
|
1999
AutoNation
AN
$7.11B
| $12M | 0.01% |
58,031
-43,653
| -43% | -$9.08M |
|
2000
Alarm.com
ALRM
$2.71B
| $12M | 0.01% |
234,759
-1,247
| -0.5% | -$63.6K |
|
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.