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 |
Salesforce
CRM
|
+$208M |
| 2 |
Lowe's Companies
LOW
|
+$198M |
| 3 |
American Tower
AMT
|
+$161M |
| 4 |
Lennar Class A
LEN
|
+$150M |
| 5 |
British American Tobacco
BTI
|
+$150M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gilead Sciences
GILD
|
+$208M |
| 2 |
CXO
CONCHO RESOURCES INC.
CXO
|
+$177M |
| 3 |
Crown Castle
CCI
|
+$168M |
| 4 |
Walmart Inc
WMT
|
+$167M |
| 5 |
Entergy
ETR
|
+$157M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 13.75% |
| 2 | Technology | 13.17% |
| 3 | Healthcare | 11.51% |
| 4 | Industrials | 10.56% |
| 5 | Consumer Discretionary | 9.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
AABA
1
DELISTED
Altaba Inc
AABA
| $1.18B | 1.79% |
17,767,802
+1,926,897
| +12% | +$118M |
2017 Q2
1 quarter
|
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$800B
| $819M | 1.25% |
3,261,800
+1,930,100
| +145% | +$476M |
2013 Q2
17 quarters
|
|
3
CALL
Micron Technology
MU
$903B
| $496M | 0.76% |
12,617,000
+10,117,000
| +405% | +$320M |
2016 Q4
3 quarters
|
|
4
PUT
VanEck Semiconductor ETF
SMH
$63B
| $495M | 0.75% |
10,600,000
+4,817,600
| +83% | +$211M |
2017 Q1
2 quarters
|
|
|
5
Micron Technology
MU
$903B
| $418M | 0.64% |
10,631,270
+2,237,534
| +27% | +$70.8M |
2013 Q2
17 quarters
|
|
6
DELISTED
Comerica
CMA
| $391M | 0.6% |
5,126,570
+194,886
| +4% | +$14M |
2015 Q3
8 quarters
|
|
7
Visa
V
$784B
| $386M | 0.59% |
3,667,041
+719,975
| +24% | +$73M |
2013 Q2
17 quarters
|
|
8
Bank of America
BAC
$349B
| $325M | 0.5% |
12,841,968
+1,912,476
| +17% | +$46.4M |
2013 Q2
17 quarters
|
|
9
Applied Materials
AMAT
$302B
| $320M | 0.49% |
6,135,539
+2,085,298
| +51% | +$94.3M |
2013 Q2
17 quarters
|
|
10
Zions Bancorporation
ZION
$9.6B
| $312M | 0.48% |
6,612,355
+2,912,912
| +79% | +$130M |
2013 Q2
17 quarters
|
|
11
Colgate-Palmolive
CL
$77.8B
| $307M | 0.47% |
4,210,160
-415,455
| -9% | -$29.9M |
2016 Q1
6 quarters
|
|
12
ConocoPhillips
COP
$166B
| $303M | 0.46% |
6,050,789
+2,324,752
| +62% | +$104M |
2016 Q1
6 quarters
|
|
13
Lam Research
LRCX
$293B
| $287M | 0.44% |
15,529,160
+3,281,450
| +27% | +$53.2M |
2013 Q2
17 quarters
|
|
14
Meta Platforms (Facebook)
META
$1.59T
| $287M | 0.44% |
1,680,455
+491,071
| +41% | +$81.9M |
2013 Q2
17 quarters
|
|
15
The Kraft Heinz Company
KHC
$29B
| $262M | 0.4% |
3,373,178
+903,238
| +37% | +$75.5M |
2015 Q3
8 quarters
|
|
16
Conagra Brands
CAG
$6.95B
| $258M | 0.39% |
7,654,562
+3,628,740
| +90% | +$123M |
2013 Q2
17 quarters
|
|
17
Vertex Pharmaceuticals
VRTX
$138B
| $254M | 0.39% |
1,668,208
+890,742
| +115% | +$134M |
2013 Q2
17 quarters
|
|
18
Public Service Enterprise Group
PEG
$37.3B
| $250M | 0.38% |
5,407,411
+893,750
| +20% | +$40.5M |
2016 Q4
3 quarters
|
|
|
19
Lowe's Companies
LOW
$128B
| $248M | 0.38% |
3,098,079
+2,584,186
| +503% | +$198M |
2013 Q2
17 quarters
|
|
20
Citigroup
C
$205B
| $247M | 0.38% |
3,393,159
+1,282,388
| +61% | +$87.6M |
2013 Q2
17 quarters
|
|
21
PG&E
PCG
$28.6B
| $238M | 0.36% |
3,501,554
-1,720,981
| -33% | -$118M |
2013 Q2
17 quarters
|
|
22
Marathon Petroleum
MPC
$112B
| $235M | 0.36% |
4,189,857
+1,793,086
| +75% | +$96.2M |
2013 Q2
17 quarters
|
|
23
Charter Communications
CHTR
$15.2B
| $234M | 0.36% |
644,682
+238,956
| +59% | +$88.9M |
2016 Q4
3 quarters
|
|
24
Boeing
BA
$136B
| $234M | 0.36% |
920,071
+626,258
| +213% | +$146M |
2015 Q4
7 quarters
|
|
|
ETFC
25
DELISTED
E*Trade Financial Corporation
ETFC
| $230M | 0.35% |
5,263,861
-261,829
| -5% | -$10.6M |
2013 Q2
17 quarters
|
|
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Millennium Management's Q3 2017 Portfolio in Review
As of Q3 2017, Millennium Management held 4,198 positions worth $65.6B, up 17% from $56.1B the previous quarter. Its ten largest holdings account for 7.8% of the portfolio.
Millennium Management deployed $6.36B of net new capital in Q3 2017, opening 794 new positions and adding to 1,441 existing holdings. Its largest new stake was Northern Trust: 1,591,041 shares worth $146M.
By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 12% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Gilead Sciences, an estimated $208M trimmed.
- Millennium Management's largest Q3 2017 buy was Northern Trust: 1,591,041 shares worth $146M.
- Millennium Management added most to Salesforce in Q3 2017, an estimated $208M increase.
- Millennium Management's biggest Q3 2017 reduction was Gilead Sciences, cutting an estimated $208M.
- Millennium Management fully exited CONCHO RESOURCES INC. in Q3 2017, selling an estimated $177M.
- Millennium Management's ten largest holdings make up 7.8% of its $65.6B portfolio in Q3 2017.
- Millennium Management opened 794 new positions and closed 737 in Q3 2017.
- Millennium Management's portfolio value rose 17% quarter-over-quarter to $65.6B.
Based on Millennium Management's 13F filing for Q3 2017, filed 14 Nov 2017.