Millennium Management Portfolio holdings
Millennium Management is a multistrategy hedge fund firm, started in 1989 by Israel Englander along with Ronald Shear, an acquaintance from the American Stock Exchange who left after six months. Englander remains its principal. It works as a platform: many separate investment teams, each with a portfolio manager given money to trade in a variety of strategies. Its teams research and pick individual companies, run computer-driven strategies, and trade fixed income, commodities and credit. In 2018 it launched a joint venture with WorldQuant, a computer-driven investment firm. Its clients include state and local government bodies and sovereign wealth funds.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of New York Mellon
BNY
|
+$190M |
| 2 |
Lowe's Companies
LOW
|
+$183M |
| 3 |
Target
TGT
|
+$175M |
| 4 |
American Electric Power
AEP
|
+$174M |
| 5 |
NextEra Energy
NEE
|
+$152M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$6.19B |
| 2 |
Coty
COTY
|
+$1.11B |
| 3 |
Apple
AAPL
|
+$294M |
| 4 |
Meta Platforms (Facebook)
META
|
+$229M |
| 5 |
Microsoft
MSFT
|
+$192M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 13.41% |
| 2 | Financials | 12.33% |
| 3 | Energy | 10.96% |
| 4 | Industrials | 10.38% |
| 5 | Technology | 9.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PG&E
PCG
$28.6B
| $429M | 0.9% |
7,053,077
+678,632
| +11% | +$40.7M |
2013 Q2
14 quarters
|
|
|
2
American Electric Power
AEP
$70.2B
| $397M | 0.83% |
6,300,128
+2,821,437
| +81% | +$174M |
2013 Q2
14 quarters
|
|
3
DELISTED
Anadarko Petroleum
APC
| $336M | 0.7% |
4,817,145
+1,075,555
| +29% | +$69.9M |
2013 Q2
14 quarters
|
|
|
4
Bank of New York Mellon
BNY
$103B
| $306M | 0.64% |
6,454,456
+4,211,044
| +188% | +$190M |
2013 Q2
14 quarters
|
|
5
CMS Energy
CMS
$21.7B
| $281M | 0.59% |
6,761,822
-682,510
| -9% | -$27.9M |
2016 Q1
3 quarters
|
|
6
Pinnacle West Capital
PNW
$13B
| $280M | 0.59% |
3,585,057
+117,946
| +3% | +$8.84M |
2015 Q1
7 quarters
|
|
7
Merck
MRK
$362B
| $278M | 0.58% |
4,948,843
-751,674
| -13% | -$44M |
2013 Q2
14 quarters
|
|
8
Bank of America
BAC
$349B
| $274M | 0.57% |
12,392,912
-1,576,016
| -11% | -$30.4M |
2013 Q2
14 quarters
|
|
9
Devon Energy
DVN
$52.7B
| $251M | 0.53% |
5,491,437
-1,516,857
| -22% | -$67M |
2013 Q2
14 quarters
|
|
10
Walt Disney
DIS
$204B
| $236M | 0.49% |
2,262,445
+1,378,066
| +156% | +$134M |
2016 Q3
1 quarter
|
|
|
EGN
11
DELISTED
Energen
EGN
| $223M | 0.47% |
3,868,124
+385,655
| +11% | +$22M |
2013 Q2
14 quarters
|
|
12
Micron Technology
MU
$903B
| $220M | 0.46% |
10,055,840
+2,322,862
| +30% | +$43.6M |
2013 Q2
14 quarters
|
|
|
13
NextEra Energy
NEE
$179B
| $211M | 0.44% |
7,057,700
+5,086,056
| +258% | +$152M |
2013 Q2
14 quarters
|
|
14
Bristol-Myers Squibb
BMY
$127B
| $209M | 0.44% |
3,574,949
+1,478,257
| +71% | +$80.8M |
2015 Q1
7 quarters
|
|
|
QEP
15
DELISTED
QEP RESOURCES, INC.
QEP
| $206M | 0.43% |
11,164,611
+7,834,078
| +235% | +$142M |
2013 Q2
14 quarters
|
|
16
Molson Coors Class B
TAP
$7.33B
| $205M | 0.43% |
2,110,707
+873,994
| +71% | +$89.2M |
2013 Q2
14 quarters
|
|
17
Xcel Energy
XEL
$52.3B
| $204M | 0.43% |
5,016,152
+1,290,748
| +35% | +$51.6M |
2014 Q3
9 quarters
|
|
18
Williams Companies
WMB
$86.8B
| $204M | 0.43% |
6,540,908
-579,213
| -8% | -$17.5M |
2016 Q2
2 quarters
|
|
|
19
Lowe's Companies
LOW
$128B
| $203M | 0.43% |
2,857,256
+2,582,691
| +941% | +$183M |
2013 Q2
14 quarters
|
|
20
Costco
COST
$484B
| $200M | 0.42% |
1,248,770
+834,756
| +202% | +$127M |
2016 Q3
1 quarter
|
|
|
PE
21
DELISTED
PARSLEY ENERGY INC
PE
| $197M | 0.41% |
5,590,534
+1,885,592
| +51% | +$66.8M |
2014 Q2
10 quarters
|
|
22
DELISTED
Kellanova
K
| $189M | 0.4% |
2,733,193
+689,683
| +34% | +$48M |
2013 Q2
14 quarters
|
|
23
Marathon Petroleum
MPC
$112B
| $180M | 0.38% |
3,572,830
-1,567,671
| -30% | -$71.2M |
2013 Q2
14 quarters
|
|
24
Delta Air Lines
DAL
$56.9B
| $179M | 0.38% |
3,644,975
+1,878,354
| +106% | +$85.6M |
2013 Q2
14 quarters
|
|
25
Agilent Technologies
A
$48.8B
| $179M | 0.38% |
3,933,538
+573,705
| +17% | +$26M |
2013 Q2
14 quarters
|
|
Similar funds
Millennium Management's Q4 2016 Portfolio in Review
As of Q4 2016, Millennium Management held 4,092 positions worth $47.8B, down 20% from $59.6B the previous quarter. Its ten largest holdings account for 6.4% of the portfolio.
Millennium Management withdrew a net $7.71B in Q4 2016, closing 801 positions and reducing 1,159 holdings. Its most notable exit was Procter & Gamble, an estimated $6.19B position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 13% of assets, up from 11% a quarter earlier, followed by Financials and Energy.
Against the trend, Millennium Management opened a new position in Target worth $175M.
- Millennium Management's largest Q4 2016 buy was Target: 2,422,329 shares worth $175M.
- Millennium Management added most to Bank of New York Mellon in Q4 2016, an estimated $190M increase.
- Millennium Management's biggest Q4 2016 reduction was Coty, cutting an estimated $1.11B.
- Millennium Management fully exited Procter & Gamble in Q4 2016, selling an estimated $6.19B.
- Millennium Management's ten largest holdings make up 6.4% of its $47.8B portfolio in Q4 2016.
- Millennium Management opened 857 new positions and closed 801 in Q4 2016.
- Millennium Management's portfolio value fell 20% quarter-over-quarter to $47.8B.
Based on Millennium Management's 13F filing for Q4 2016, filed 14 Feb 2017.