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 | |
|---|---|---|---|---|---|---|
2451
CALL
Lincoln National
LNC
$8.81B
| $8.58M | ﹤0.01% |
212,700
+43,600
| +26% | +$1.69M |
|
2452
Tandem Diabetes Care
TNDM
$1.56B
| $8.57M | ﹤0.01% |
705,902
-263,171
| -27% | -$3.56M |
|
2453
CALL
RTX Corp
RTX
$301B
| $8.57M | ﹤0.01% |
51,200
-225,700
| -82% | -$35M |
|
2454
NXP Semiconductors
NXPI
$60.4B
| $8.57M | ﹤0.01% |
37,613
-37,592
| -50% | -$8.45M |
|
|
LGN
2455
Legence Corp
LGN
$4.95B
| $8.56M | ﹤0.01% |
+277,893
| New | +$8.75M |
|
2456
Tilray
TLRY
$622M
| $8.55M | ﹤0.01% |
494,232
+364,506
| +281% | +$3.49M |
|
2457
FS KKR Capital
FSK
$3.44B
| $8.55M | ﹤0.01% |
572,641
+533,855
| +1,376% | +$10.1M |
|
2458
Tractor Supply
TSCO
$18B
| $8.55M | ﹤0.01% |
150,317
+31,340
| +26% | +$1.85M |
|
2459
CALL
Rivian
RIVN
$23.2B
| $8.52M | ﹤0.01% |
580,100
-229,400
| -28% | -$3.07M |
|
2460
DNOW Inc
DNOW
$2.99B
| $8.51M | ﹤0.01% |
557,736
+208,306
| +60% | +$3.14M |
|
2461
Applied Digital
APLD
$8.41B
| $8.5M | ﹤0.01% |
370,461
-166,350
| -31% | -$2.46M |
|
2462
PUT
Ferrari
RACE
$72.5B
| $8.5M | ﹤0.01% |
19,000
+5,500
| +41% | +$2.64M |
|
|
LBRX
2463
LB Pharmaceuticals
LBRX
$1.38B
| $8.5M | ﹤0.01% |
+538,169
| New | +$8.54M |
|
|
GAU
2464
Galiano Gold
GAU
$538M
| $8.49M | ﹤0.01% |
3,885,011
+3,834,702
| +7,622% | +$7.16M |
|
2465
Protagonist Therapeutics
PTGX
$9.44B
| $8.47M | ﹤0.01% |
127,560
+112,369
| +740% | +$6.39M |
|
2466
Chewy
CHWY
$9.63B
| $8.46M | ﹤0.01% |
209,185
-687,085
| -77% | -$26.5M |
|
2467
Stantec
STN
$8.39B
| $8.45M | ﹤0.01% |
78,401
-43,019
| -35% | -$4.7M |
|
2468
Old Republic International
ORI
$10.4B
| $8.45M | ﹤0.01% |
198,926
-743,852
| -79% | -$28.7M |
|
2469
CALL
Tenet Healthcare
THC
$21.1B
| $8.45M | ﹤0.01% |
41,600
+12,000
| +41% | +$2.13M |
|
2470
CALL
Teva Pharmaceuticals
TEVA
$41.2B
| $8.44M | ﹤0.01% |
418,000
+315,000
| +306% | +$5.53M |
|
2471
Amerant Bancorp
AMTB
$1.13B
| $8.44M | ﹤0.01% |
437,847
+386,710
| +756% | +$7.8M |
|
|
ORC
2472
Orchid Island Capital
ORC
$1.31B
| $8.44M | ﹤0.01% |
1,203,361
-70,128
| -6% | -$499K |
|
2473
PUT
Sunrun
RUN
$2.46B
| $8.42M | ﹤0.01% |
487,100
+208,700
| +75% | +$2.79M |
|
2474
AMERISAFE
AMSF
$540M
| $8.41M | ﹤0.01% |
191,825
+122,387
| +176% | +$5.49M |
|
|
ECHO
2475
PUT
EchoStar
ECHO
$26.2B
| $8.41M | ﹤0.01% |
+110,100
| New | +$4.99M |
|
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.