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 | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $7.34B | 3.13% |
30,335,500
+6,988,700
| +30% | +$1.6B |
|
|
2
PUT
NVIDIA
NVDA
$5.01T
| $5.84B | 2.49% |
31,297,700
+2,244,100
| +8% | +$391M |
|
|
3
iShares Core S&P 500 ETF
IVV
$876B
| $5.02B | 2.14% |
7,499,133
+1,217,370
| +19% | +$784M |
|
4
CALL
Invesco QQQ Trust
QQQ
$455B
| $4.31B | 1.84% |
7,180,400
-583,600
| -8% | -$334M |
|
|
5
PUT
Invesco QQQ Trust
QQQ
$455B
| $4.11B | 1.76% |
6,850,200
+393,900
| +6% | +$226M |
|
|
6
CALL
iShares Russell 2000 ETF
IWM
$80.9B
| $3.56B | 1.52% |
14,717,200
+4,499,500
| +44% | +$1.03B |
|
|
7
NVIDIA
NVDA
$5.01T
| $3.41B | 1.46% |
18,272,514
+10,197,455
| +126% | +$1.78B |
|
8
PUT
Microsoft
MSFT
$2.84T
| $3.18B | 1.36% |
6,146,000
+74,000
| +1% | +$37.7M |
|
9
PUT
Amazon
AMZN
$2.5T
| $2.4B | 1.02% |
10,910,600
-369,500
| -3% | -$83.6M |
|
|
10
PUT
Apple
AAPL
$4.89T
| $2.27B | 0.97% |
8,896,100
+2,792,000
| +46% | +$631M |
|
11
PUT
Meta Platforms (Facebook)
META
$1.51T
| $1.83B | 0.78% |
2,485,400
-404,800
| -14% | -$301M |
|
|
12
Apple
AAPL
$4.89T
| $1.79B | 0.76% |
7,015,832
+5,013,875
| +250% | +$1.13B |
|
|
13
Microsoft
MSFT
$2.84T
| $1.78B | 0.76% |
3,432,856
+1,122,436
| +49% | +$573M |
|
14
PUT
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
| $1.55B | 0.66% |
28,846,400
+11,120,100
| +63% | +$589M |
|
15
PUT
Tesla
TSLA
$1.24T
| $1.55B | 0.66% |
3,487,500
-142,900
| -4% | -$49.6M |
|
|
16
CALL
NVIDIA
NVDA
$5.01T
| $1.53B | 0.65% |
8,196,400
-1,615,600
| -16% | -$282M |
|
17
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
| $1.51B | 0.64% |
18,584,400
+7,138,000
| +62% | +$575M |
|
|
18
CALL
Microsoft
MSFT
$2.84T
| $1.49B | 0.64% |
2,880,600
-617,400
| -18% | -$315M |
|
19
PUT
iShares MSCI Emerging Markets ETF
EEM
$28B
| $1.48B | 0.63% |
27,776,100
+8,593,600
| +45% | +$432M |
|
|
20
CALL
Apple
AAPL
$4.89T
| $1.36B | 0.58% |
5,325,300
-644,600
| -11% | -$146M |
|
21
iShares Bitcoin Trust
IBIT
$47.2B
| $1.33B | 0.57% |
20,519,106
-915,232
| -4% | -$59.5M |
|
22
PUT
Alphabet (Google) Class A
GOOGL
$3.91T
| $1.3B | 0.56% |
5,359,100
-456,100
| -8% | -$95.5M |
|
|
23
CALL
Tesla
TSLA
$1.24T
| $1.11B | 0.47% |
2,500,600
-58,000
| -2% | -$20.1M |
|
|
ETHA
24
iShares Ethereum Trust ETF
ETHA
$5.25B
| $1.07B | 0.46% |
33,924,701
+28,115,038
| +484% | +$834M |
|
25
PUT
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45.8B
| $1.07B | 0.46% |
2,305,000
+673,500
| +41% | +$304M |
|
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.