Millennium Management
Izzy Englander · CIK 0001273087 · latest 13F for 2026-06-30 filed 2026-08-14
Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
Millennium Management is a global, multi-strategy investment firm founded in 1989 by Israel Englander. It operates as one of the world's largest alternative asset management firms, utilizing a decentralized platform model with independent investment teams to manage capital across diverse markets and strategies.
Investment approach
Millennium operates a decentralized platform model consisting of approximately 280 independent investment teams, each allocated capital to deploy across various trading strategies. The firm emphasizes a rigorous risk management framework, where portfolio managers face strict limits on losses, alongside a collaborative culture and deep investment in technology and infrastructure. It seeks to deliver consistent, high-quality returns by leveraging global insights and diverse perspectives across industry sectors, asset classes, and geographies.
History
Founded in 1989 by Israel Englander and Ronald Shear with $35 million, the firm initially underperformed, leading to Shear's departure after six months. Over its 37-year history, it evolved into a major global investment platform known for its decentralized model of independent investment teams. The firm has consistently grown its assets and team count, reaching $97 billion in AUM by September 2026.
Notable positions & campaigns
- WorldQuant2018 — Joint venture with quantitative investment firm WorldQuant.
- Albar Capital Partners2018 — Millennium seeded this hedge fund, which now manages money exclusively for Millennium.
- Jain Global2026 — Millennium seeded this hedge fund, which now manages money exclusively for Millennium.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- Israel Englander, Ronald Shear
- Founded
- 1989
- HQ
- New York, United States
- Reported AUM
- $97.0bn (as of September 2026)
- Website
- mlp.com
Management
- Israel Alexander EnglanderChairman and Chief Executive Officer
- Ajay NagpalPresident and Chief Operating Officer
- Justin Gerald GmelichCo-Chief Investment Officer
- Paul Martin RussoCo-CIO and Global Head of Equities Risk
- John NovogratzChief Marketing Officer / Head of capital development and investor relations
- Dan Michael BerkovitzVice Chairman, External and Regulatory Affairs
Holdings heatmap
Latest 13F (2026-06-30): top 50 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2026-06-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | IVV | $10.9B | 7.6% |
| 2 | SPY | $3.6B | 2.5% |
| 3 | SPCX | $3.0B | 2.1% |
| 4 | NVDA | $2.4B | 1.7% |
| 5 | NSC | $1.6B | 1.1% |
| 6 | MSFT | $1.6B | 1.1% |
| 7 | WBD | $1.5B | 1.1% |
| 8 | VOO | $1.3B | 0.9% |
| 9 | AMZN | $981M | 0.7% |
| 10 | — | $889M | 0.6% |
| 11 | SNDK | $832M | 0.6% |
| 12 | BE | $764M | 0.5% |
| 13 | TSM | $761M | 0.5% |
| 14 | META | $732M | 0.5% |
| 15 | FCX | $720M | 0.5% |
| 16 | KVUE | $706M | 0.5% |
| 17 | QQQ | $688M | 0.5% |
| 18 | UNH | $672M | 0.5% |
| 19 | NRG | $622M | 0.4% |
| 20 | AEP | $614M | 0.4% |
| 21 | — | $611M | 0.4% |
| 22 | MU | $597M | 0.4% |
| 23 | — | $543M | 0.4% |
| 24 | IEX | $538M | 0.4% |
| 25 | ICE | $513M | 0.4% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| added | SPY | 0.3% | 2.5% |
| new | SPCX | 0.0% | 2.1% |
| exited | SPYM | 1.3% | 0.0% |
| added | IVV | 6.6% | 7.6% |
| trimmed | AAPL | 0.9% | 0.2% |
| added | BE | 0.0% | 0.5% |
| trimmed | MS | 0.5% | 0.1% |
| trimmed | BAC | 0.5% | 0.1% |
| trimmed | AVGO | 0.5% | 0.1% |
| trimmed | MRVL | 0.5% | 0.1% |
| added | VOO | 0.5% | 0.9% |
| trimmed | META | 0.9% | 0.5% |
| trimmed | IBIT | 0.6% | 0.2% |
| trimmed | GOOGL | 0.4% | 0.0% |
| added | — | 0.1% | 0.4% |
| exited | CTRA | 0.4% | 0.0% |
| exited | — | 0.3% | 0.0% |
| trimmed | C | 0.4% | 0.1% |
| added | — | 0.1% | 0.4% |
| trimmed | FE | 0.4% | 0.1% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2026-06-30 | -3.1% | +0.4% | -3.5% | 86% |
| 2026-03-31 | +8.3% | +4.9% | +3.5% | 84% |
| 2025-12-31 | +4.9% | +7.9% | -3.1% | 85% |
| 2025-09-30 | +8.0% | +3.4% | +4.6% | 84% |
| 2025-06-30 | +1.6% | +3.7% | -2.2% | 84% |
| 2025-03-31 | +7.1% | +8.6% | -1.5% | 84% |
| 2024-12-31 | -2.4% | -2.5% | +0.1% | 84% |
| 2024-09-30 | +3.9% | +4.7% | -0.9% | 81% |
| 2024-06-30 | +8.2% | +6.2% | +2.0% | 82% |
| 2024-03-31 | +2.1% | +4.9% | -2.8% | 81% |
| 2023-12-31 | +5.9% | +5.6% | +0.3% | 81% |
| 2023-09-30 | +14.2% | +12.1% | +2.1% | 80% |
| 2023-06-30 | -0.5% | +1.9% | -2.4% | 79% |
| 2023-03-31 | +8.6% | +8.4% | +0.2% | 76% |
| 2022-12-31 | -6.4% | -0.5% | -5.9% | 75% |
| 2022-09-30 | +5.6% | +4.4% | +1.3% | 70% |
Filing dates
- 2026-08-1413F-HR for 2026-06-30 · $276.3B · 5,798 rows
- 2026-05-1513F-HR for 2026-03-31 · $240.3B · 5,624 rows
- 2026-02-1713F-HR for 2025-12-31 · $237.8B · 5,950 rows
- 2025-11-1413F-HR for 2025-09-30 · $234.3B · 5,978 rows
- 2025-08-1413F-HR for 2025-06-30 · $207.1B · 5,805 rows
- 2025-05-1513F-HR for 2025-03-31 · $187.9B · 5,787 rows
- 2025-02-1413F-HR for 2024-12-31 · $204.6B · 5,890 rows
- 2024-11-1413F-HR for 2024-09-30 · $210.9B · 6,030 rows
- 2024-08-1413F-HR for 2024-06-30 · $215.9B · 5,803 rows
- 2024-05-1513F-HR for 2024-03-31 · $234.1B · 6,138 rows
- 2024-02-1413F-HR for 2023-12-31 · $231.1B · 6,007 rows
- 2023-11-1413F-HR for 2023-09-30 · $198.1B · 6,057 rows
Use it with your AI
A public skill.md describes this copy portfolio (rules + parameters) for ChatGPT or Claude.
Copy this fund
Start a paper copy-bot that rebalances the day after each new filing.
Start a copy-bot