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 | |
|---|---|---|---|---|---|---|
2126
Apogee Therapeutics
APGE
$10.1B
| $10.6M | ﹤0.01% |
140,727
-289,736
| -67% | -$18.2M |
|
2127
CALL
Abercrombie & Fitch
ANF
$4.42B
| $10.6M | ﹤0.01% |
84,300
+35,000
| +71% | +$3.06M |
|
2128
Structure Therapeutics
GPCR
$3.41B
| $10.6M | ﹤0.01% |
152,560
-1,121,991
| -88% | -$45.8M |
|
2129
Trupanion
TRUP
$1.07B
| $10.6M | ﹤0.01% |
283,746
-335,257
| -54% | -$13.2M |
|
|
BBUC
2130
Brookfield Business Corp Class A Subordinate Voting Shares
BBUC
$6.12B
| $10.6M | ﹤0.01% |
295,351
+227,555
| +336% | +$7.97M |
|
2131
MoonLake Immunotherapeutics
MLTX
$1.57B
| $10.6M | ﹤0.01% |
802,722
+713,550
| +800% | +$8.42M |
|
2132
Teladoc Health
TDOC
$1.22B
| $10.6M | ﹤0.01% |
1,510,686
+1,212,564
| +407% | +$9.49M |
|
2133
Enanta Pharmaceuticals
ENTA
$366M
| $10.6M | ﹤0.01% |
670,428
-277,656
| -29% | -$3.53M |
|
2134
Lionsgate Studios
LION
$3.95B
| $10.5M | ﹤0.01% |
1,154,547
-476,130
| -29% | -$3.39M |
|
2135
PUT
MetLife
MET
$61.9B
| $10.5M | ﹤0.01% |
133,500
-18,600
| -12% | -$1.47M |
|
2136
Bit Digital
BTBT
$463M
| $10.5M | ﹤0.01% |
5,575,498
-1,493,505
| -21% | -$4.32M |
|
2137
Ingredion
INGR
$6.27B
| $10.5M | ﹤0.01% |
95,255
-119,953
| -56% | -$13.5M |
|
2138
Blue Bird Corp
BLBD
$2.35B
| $10.5M | ﹤0.01% |
223,449
+24,881
| +13% | +$1.3M |
|
2139
CALL
Toyota
TM
$224B
| $10.5M | ﹤0.01% |
49,000
-33,000
| -40% | -$6.69M |
|
2140
TAL Education Group
TAL
$6.93B
| $10.5M | ﹤0.01% |
960,977
+849,711
| +764% | +$9.65M |
|
2141
Choice Hotels
CHH
$5.07B
| $10.5M | ﹤0.01% |
110,040
+83,142
| +309% | +$7.91M |
|
2142
Axcelis
ACLS
$4.01B
| $10.5M | ﹤0.01% |
130,090
-131,686
| -50% | -$11M |
|
2143
Brookfield Infrastructure
BIPC
$5.2B
| $10.4M | ﹤0.01% |
229,857
+65,271
| +40% | +$2.96M |
|
2144
STAAR Surgical
STAA
$1.21B
| $10.4M | ﹤0.01% |
451,291
+334,272
| +286% | +$8.62M |
|
2145
PUT
Elevance Health
ELV
$81.5B
| $10.4M | ﹤0.01% |
29,700
+11,300
| +61% | +$3.82M |
|
2146
CALL
Stryker
SYK
$125B
| $10.4M | ﹤0.01% |
29,600
-2,300
| -7% | -$838K |
|
2147
Franklin Electric
FELE
$4.63B
| $10.4M | ﹤0.01% |
108,794
+13,049
| +14% | +$1.25M |
|
2148
Vitamin Cottage Natural Grocers
NGVC
$739M
| $10.4M | ﹤0.01% |
414,716
-124,647
| -23% | -$3.99M |
|
2149
Brink's
BCO
$4.88B
| $10.4M | ﹤0.01% |
88,992
-116,373
| -57% | -$13.3M |
|
2150
Portillo's
PTLO
$331M
| $10.4M | ﹤0.01% |
+2,279,826
| New | +$11.9M |
|
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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.