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 | |
|---|---|---|---|---|---|---|
2076
Ducommun
DCO
$2.7B
| $11.1M | ﹤0.01% |
116,872
+85,056
| +267% | +$7.92M |
|
2077
Gossamer Bio
GOSS
$82.9M
| $11.1M | ﹤0.01% |
3,584,288
-35,041
| -1% | -$100K |
|
2078
Boston Beer
SAM
$1.91B
| $11.1M | ﹤0.01% |
56,882
-15,061
| -21% | -$3.11M |
|
|
LKFT
2079
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.78B
| $11.1M | ﹤0.01% |
339,354
+186,452
| +122% | +$6.02M |
|
|
NSA
2080
DELISTED
National Storage Affiliates Trust
NSA
| $11.1M | ﹤0.01% |
393,313
-719,004
| -65% | -$21.4M |
|
2081
PUT
Okta
OKTA
$24.7B
| $11.1M | ﹤0.01% |
128,300
+8,200
| +7% | +$716K |
|
2082
BBVA Argentina
BBAR
$3.87B
| $11.1M | ﹤0.01% |
613,832
+597,392
| +3,634% | +$8.57M |
|
2083
Smith & Nephew
SNN
$13.3B
| $11.1M | ﹤0.01% |
337,623
+271,894
| +414% | +$9.31M |
|
2084
Global Ship Lease
GSL
$1.6B
| $11.1M | ﹤0.01% |
315,841
+94,331
| +43% | +$3.06M |
|
2085
CALL
BlackLine
BL
$1.84B
| $11.1M | ﹤0.01% |
200,000
+150,000
| +300% | +$8.26M |
|
2086
Mizuho Financial
MFG
$127B
| $11.1M | ﹤0.01% |
1,510,303
-619,768
| -29% | -$4.24M |
|
2087
CALL
BILL Holdings
BILL
$4.49B
| $11.1M | ﹤0.01% |
202,700
-164,500
| -45% | -$8.45M |
|
2088
Albertsons Companies
ACI
$5.62B
| $11M | ﹤0.01% |
641,990
-2,592,232
| -80% | -$46.2M |
|
2089
Fidelity National Financial
FNF
$13.9B
| $11M | ﹤0.01% |
201,857
-48,008
| -19% | -$2.73M |
|
2090
Avery Dennison
AVY
$13B
| $11M | ﹤0.01% |
60,566
+7,250
| +14% | +$1.25M |
|
2091
State Street SPDR S&P Retail ETF
XRT
$449M
| $11M | ﹤0.01% |
+129,092
| New | +$10.8M |
|
2092
CALL
iShares US Real Estate ETF
IYR
$4.66B
| $11M | ﹤0.01% |
+117,200
| New | +$11.2M |
|
2093
Seadrill
SDRL
$2.8B
| $11M | ﹤0.01% |
317,935
+230,148
| +262% | +$7.17M |
|
2094
PUT
Marathon Digital Holdings
MARA
$4.32B
| $11M | ﹤0.01% |
1,223,600
-1,330,900
| -52% | -$19.6M |
|
2095
Towne Bank
TOWN
$3.46B
| $11M | ﹤0.01% |
329,249
+102,138
| +45% | +$3.44M |
|
2096
Gogo Inc
GOGO
$565M
| $11M | ﹤0.01% |
2,355,573
+2,086,042
| +774% | +$15.3M |
|
2097
PUT
Schwab US Dividend Equity ETF
SCHD
$103B
| $11M | ﹤0.01% |
+400,000
| New | +$10.9M |
|
2098
PUT
Wingstop
WING
$3.53B
| $11M | ﹤0.01% |
46,000
+6,000
| +15% | +$1.49M |
|
2099
PUT
Sherwin-Williams
SHW
$82.7B
| $11M | ﹤0.01% |
33,800
-14,700
| -30% | -$4.92M |
|
2100
CALL
NextEra Energy
NEE
$181B
| $10.9M | ﹤0.01% |
136,300
-59,800
| -30% | -$4.95M |
|
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.