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 | |
|---|---|---|---|---|---|---|
|
AXON
2001
Axon Enterprise
AXON
$42.5B
| $11.9M | 0.01% |
20,972
+18,482
| +742% | +$11.5M |
|
2002
CALL
Logitech
LOGI
$14.7B
| $11.9M | 0.01% |
128,100
+63,600
| +99% | +$7.15M |
|
2003
Moderna
MRNA
$21.8B
| $11.9M | 0.01% |
403,635
-763,825
| -65% | -$20.8M |
|
2004
CALL
Southwest Airlines
LUV
$22B
| $11.9M | 0.01% |
288,000
+255,200
| +778% | +$8.91M |
|
|
INGM
2005
Ingram Micro Holding
INGM
$6.51B
| $11.9M | 0.01% |
556,737
+17,000
| +3% | +$369K |
|
2006
F&G Annuities & Life
FG
$3.79B
| $11.9M | 0.01% |
385,028
+214,118
| +125% | +$6.7M |
|
|
PLGO
2007
Pelagos Insurance Capital
PLGO
$2.16B
| $11.9M | 0.01% |
606,158
-318,222
| -34% | -$5.93M |
|
2008
Innovative Industrial Properties
IIPR
$1.71B
| $11.8M | 0.01% |
250,053
+140,826
| +129% | +$7.29M |
|
2009
Sotera Health
SHC
$5.09B
| $11.8M | 0.01% |
671,314
+627,309
| +1,426% | +$10.4M |
|
2010
Otter Tail
OTTR
$3.71B
| $11.8M | 0.01% |
146,518
+16,235
| +12% | +$1.32M |
|
2011
PUT
Baker Hughes
BKR
$60B
| $11.8M | 0.01% |
259,400
+3,500
| +1% | +$166K |
|
2012
Northwest Bancshares
NWBI
$2.3B
| $11.8M | 0.01% |
984,171
+519,356
| +112% | +$6.32M |
|
2013
Armstrong World Industries
AWI
$7.38B
| $11.8M | 0.01% |
61,761
-27,149
| -31% | -$5.18M |
|
2014
PUT
Hecla Mining
HL
$9.47B
| $11.8M | 0.01% |
+614,300
| New | +$9.38M |
|
2015
Aurinia Pharmaceuticals
AUPH
$1.91B
| $11.8M | 0.01% |
738,306
+637,733
| +634% | +$9.04M |
|
|
RHLD
2016
Resolute Holdings Management
RHLD
$1.02B
| $11.8M | ﹤0.01% |
56,945
+10,365
| +22% | +$1.53M |
|
2017
CALL
State Street Industrial Select Sector SPDR ETF
XLI
$32.8B
| $11.7M | ﹤0.01% |
75,700
+10,000
| +15% | +$1.54M |
|
2018
JD.com
JD
$44.6B
| $11.7M | ﹤0.01% |
408,989
-575,849
| -58% | -$18M |
|
2019
LCI Industries
LCII
$2.49B
| $11.7M | ﹤0.01% |
96,657
+35,797
| +59% | +$3.81M |
|
2020
Jabil
JBL
$33B
| $11.7M | ﹤0.01% |
51,397
-39,562
| -43% | -$8.44M |
|
2021
CALL
KKR & Co
KKR
$91.1B
| $11.7M | ﹤0.01% |
91,900
-4,200
| -4% | -$522K |
|
|
FIG
2022
Figma
FIG
$12.9B
| $11.7M | ﹤0.01% |
313,493
+306,493
| +4,378% | +$13.8M |
|
2023
PVH
PVH
$4B
| $11.7M | ﹤0.01% |
174,714
+66,186
| +61% | +$5.18M |
|
|
PCH
2024
DELISTED
PotlatchDeltic
PCH
| $11.7M | ﹤0.01% |
294,330
-994,312
| -77% | -$40.3M |
|
2025
Service Corp International
SCI
$11.7B
| $11.7M | ﹤0.01% |
149,931
-3,340
| -2% | -$267K |
|
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.