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 | |
|---|---|---|---|---|---|---|
2201
CALL
Crocs
CROX
$6.55B
| $11.1M | ﹤0.01% |
133,300
+92,900
| +230% | +$8.48M |
|
2202
Urban Outfitters
URBN
$6.59B
| $11.1M | ﹤0.01% |
155,887
-996,545
| -86% | -$73.3M |
|
|
INFA
2203
DELISTED
Informatica
INFA
| $11.1M | ﹤0.01% |
447,539
-8,532
| -2% | -$210K |
|
|
NTSK
2204
Netskope Inc
NTSK
$6.01B
| $11.1M | ﹤0.01% |
+487,951
| New | +$11.6M |
|
2205
PUT
D.R. Horton
DHI
$42.3B
| $11.1M | ﹤0.01% |
65,300
+16,100
| +33% | +$2.53M |
|
2206
CALL
Astera Labs
ALAB
$58B
| $11.1M | ﹤0.01% |
56,500
-18,000
| -24% | -$2.96M |
|
2207
JFrog
FROG
$10.8B
| $11M | ﹤0.01% |
233,441
-319,068
| -58% | -$14.4M |
|
2208
PUT
O'Reilly Automotive
ORLY
$76.3B
| $11M | ﹤0.01% |
102,400
+90,700
| +775% | +$9.12M |
|
2209
CALL
e.l.f. Beauty
ELF
$5.81B
| $11M | ﹤0.01% |
83,300
-16,900
| -17% | -$2.08M |
|
|
LTM
2210
LATAM Airlines Group S.A.
LTM
$16.3B
| $11M | ﹤0.01% |
243,838
+135,339
| +125% | +$6.09M |
|
2211
PUT
Phillips 66
PSX
$81.4B
| $11M | ﹤0.01% |
81,000
-19,000
| -19% | -$2.43M |
|
2212
PUT
Okta
OKTA
$25.8B
| $11M | ﹤0.01% |
120,100
-41,300
| -26% | -$3.86M |
|
2213
Brunswick
BC
$5.28B
| $11M | ﹤0.01% |
173,936
+69,502
| +67% | +$4.31M |
|
|
HAPN
2214
Happen Inc
HAPN
$2.24B
| $11M | ﹤0.01% |
724,075
-642,266
| -47% | -$9.74M |
|
2215
Murphy Oil
MUR
$4.78B
| $11M | ﹤0.01% |
387,120
-785,425
| -67% | -$19.8M |
|
2216
Liberty Global Class A
LBTYA
$3.6B
| $11M | ﹤0.01% |
959,175
-459,879
| -32% | -$5.06M |
|
2217
Cabot Corp
CBT
$4.52B
| $11M | ﹤0.01% |
144,213
-78,638
| -35% | -$6.13M |
|
|
DRD
2218
DRDGold
DRD
$2.05B
| $11M | ﹤0.01% |
397,000
+190,152
| +92% | +$3.4M |
|
2219
Forward Air
FWRD
$654M
| $11M | ﹤0.01% |
427,290
+166,559
| +64% | +$4.79M |
|
2220
QuidelOrtho
QDEL
$838M
| $10.9M | ﹤0.01% |
+371,194
| New | +$10.1M |
|
2221
PUT
Expedia Group
EXPE
$37.3B
| $10.9M | ﹤0.01% |
51,100
+800
| +2% | +$161K |
|
2222
PUT
Elastic
ESTC
$7.81B
| $10.9M | ﹤0.01% |
129,200
+69,600
| +117% | +$5.86M |
|
2223
First Watch Restaurant Group
FWRG
$766M
| $10.9M | ﹤0.01% |
696,053
+668,019
| +2,383% | +$11.6M |
|
2224
Tango Therapeutics
TNGX
$4.41B
| $10.9M | ﹤0.01% |
1,295,401
-476,903
| -27% | -$3.23M |
|
|
CSW
2225
CSW Industrials
CSW
$5.71B
| $10.9M | ﹤0.01% |
44,711
+26,779
| +149% | +$7.19M |
|
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.