Israel Englander — Millennium Management LLC Quarterly 13F Portfolio Update (Q2 2026)
Millennium Management LLCCIK: 0001273087
Diversified strategyMomentum follower
Total reported value
$276.3B
Reporting period: 2026-06-30 · Number of holdings: 5798
MILLENNIUM MANAGEMENT LLC disclosed 5798 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $276.3B and a quarterly turnover rate of 52.2%.
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Personality snowflake
- Concentration
- 4.26
- Portfolio Stability
- 52.16
- Momentum
- 68.85
- Sector conviction
- 56.51
- Diversification
- 100
- Sizing Uniformity
- 33.99
Millennium Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.011 — mathematically equivalent to about 94 equally-sized positions, well below its 5798 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 6.60), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 67% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SPY
+182.3% $7.2B
Trim CRH
-40.9% -$2.8B
New buy 84615Q103
Add MU
-8.9% $3.4B
Add AMD
-9.2% $2.7B
Sold out SPYM
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
This quarter's filing shows two clear threads in Millennium's book: a sizable build in broad-market beta — SPY jumped from 1.33% to 3.76% of portfolio weight, IVV edged up to 3.93%, and the overlapping SPYM sleeve was closed out entirely — alongside selective profit-taking inside semiconductors, where MU and AMD were trimmed on share count even as their weights expanded to 1.81% and 1.58% on price appreciation, while NVDA was added. A new position also entered directly at 1.16% weight, disclosed only by CUSIP (84615Q103) — unusually large for a fund holding 4,182 names at an average of roughly 0.02% each. On the reduction side, the near-complete exit of CRH (1.22% down to 0.05%) marks the sharpest single-name cut of the quarter.
Macro & Fundamentals
These flows line up with a market regime in which index-level beta and AI/semiconductor leadership drove returns: lifting SPY and IVV while adding to NVDA suggests the firm leaned further into broad equity exposure and the mega-cap tech complex rather than rotating away from it, and the MU/AMD trims-into-strength pattern appears consistent with disciplined de-risking of crowded semiconductor trades. That said, this is an inference drawn from a single quarter's positioning snapshot — itself covering only about two-thirds of mapped portfolio value — and the data shows what was bought and sold, not why.
Blind Spots / Risks
The headline diversification — 4,182 holdings, an HHI of just 0.0107 — materially understates the portfolio's true factor concentration. With 37.1% in Information Technology plus roughly 7.7% layered in S&P 500 index ETFs, a sharp drawdown in mega-cap tech would hit the single-name book and the ETF overlay simultaneously; the 'diversified' label here functions more as idiosyncratic-risk control than genuine macro insulation. A secondary opacity flag: the new 1.16% position is identifiable only by its CUSIP, leaving its issuer and risk profile unassessable from this filing alone.
Compiled by AI directly from this institution's public Form 13F data on SEC EDGAR; reflects historical positioning only and carries no investment recommendation. Source filing linked below. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 5798 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 5.25% | -0.20% | -8.60% | |
| 2 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 3.93% | +0.40% | +11.69% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 3.76% | +2.43% | +182.26% | |
| 4 | NVDA | Nvidia CORP | Stock-Tech | 3.27% | +0.25% | +8.63% | |
| 5 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 2.78% | +0.23% | -1.90% | |
| 6 | MU | Micron Technology Inc | Stock-Tech | 1.81% | +1.14% | -8.92% | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 1.79% | -0.13% | +6.51% | |
| 8 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.61% | +0.03% | +2.28% | |
| 9 | AMD | Advanced Micro Devices | Stock-Tech | 1.58% | +0.88% | -9.22% | |
| 10 | AAPL | Apple Inc | Stock-Tech | 1.54% | -0.42% | -20.96% | |
| 11 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.29% | -0.40% | -11.17% | |
| 12 | ✓ | Stock-Other | 1.16% | +1.16% | NEW | ||
| 13 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.06% | -0.20% | -22.40% | |
| 14 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.91% | -0.36% | -26.90% | |
| 15 | SMH | Vaneck Semiconductor ETF | ETF-Other | 0.79% | +0.48% | +68.70% | |
| 16 | AVGO | Broadcom Inc | Stock-Tech | 0.77% | -0.09% | -16.38% | |
| 17 | XLE | Ss Energy Select Sector | ETF-Other | 0.65% | -0.17% | +5.14% | |
| 18 | INTC | Intel CORP | Stock-Tech | 0.64% | +0.40% | -3.50% | |
| 19 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.61% | +0.04% | -13.08% | |
| 20 | WBD | Warner Bros Discovery Inc | Stock-Comm Services | 0.61% | +0.01% | +19.82% | |
| 21 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.60% | -0.13% | -23.45% | |
| 22 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 0.59% | -0.04% | -9.75% | |
| 23 | NSC | Norfolk Southern CORP | Stock-Industrials | 0.59% | +0.04% | +13.35% | |
| 24 | XLF | Ss Financial Select Sector | ETF-Other | 0.53% | -0.50% | -44.94% | |
| 25 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 0.49% | -0.14% | -10.99% | |
| 26 | SNDK | Sandisk CORP | Stock-Tech | 0.49% | +0.12% | -57.54% | |
| 27 | AMAT | Applied Materials Inc | Stock-Tech | 0.46% | +0.15% | -19.53% | |
| 28 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.46% | +0.21% | +80.57% | |
| 29 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 0.45% | +0.31% | +282.83% | |
| 30 | DIA | Ss Spdr Dow Jones Indus Avg | ETF-Large Cap & Growth | 0.44% | +0.25% | +134.41% | |
| 31 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.43% | +0.06% | -14.40% | |
| 32 | LRCX | Lam Research CORP | Stock-Tech | 0.42% | +0.14% | -15.18% | |
| 33 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.41% | -0.06% | -3.16% | |
| 34 | STX | Seagate Technology Holdings plc | Stock-Tech | 0.38% | +0.27% | +64.33% | |
| 35 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.37% | +0.20% | +15.99% | |
| 36 | FCX | Freeport-mcmoran Inc | Stock-Materials | 0.37% | -0.01% | +4.23% | |
| 37 | MRVL | Marvell Technology Inc | Stock-Tech | 0.36% | -0.04% | -64.96% | |
| 38 | WDC 3 11-15-28Bond | Western Digital CORP | Bond | 0.35% | -0.26% | -71.76% | |
| 39 | ORCL | Oracle CORP | Stock-Tech | 0.35% | +0.01% | +18.70% | |
| 40 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.35% | -0.06% | +23.66% | |
| 41 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.34% | -0.01% | -14.05% | |
| 42 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.33% | +0.05% | +43.00% | |
| 43 | EA | Electronic Arts Inc | Stock-Comm Services | 0.33% | -0.07% | -7.32% | |
| 44 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.33% | -0.03% | -6.14% | |
| 45 | CVX | Chevron CORP | Stock-Energy | 0.32% | -0.05% | +24.61% | |
| 46 | NFLX | Netflix Inc | Stock-Comm Services | 0.32% | -0.18% | -1.70% | |
| 47 | CAT | Caterpillar Inc | Stock-Industrials | 0.30% | +0.13% | +32.85% | |
| 48 | BE | Bloom Energy Corp- A | Stock-Industrials | 0.30% | +0.27% | +486.26% | |
| 49 | NBIS | Nebius Group N.V. | Stock-Other | 0.29% | +0.26% | +322.47% | |
| 50 | V | Visa Inc-class A Shares | Stock-Financials | 0.27% | -0.06% | -17.14% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+1.9%
Performance Last 4 Quarters
+21.7%
- Stdev
- +14.3%
- Beta
- +1.07
- Alpha
- -2.1%
- Max Drawdown
- -9.7%
- Annualized Perf
- +20%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +2.77
- Stutzer
- +0.4
- Treynor
- +0.18
- Sterling
- +1.21
- Calmar
- +2.07
- Information Ratio
- -0.17
- Tracking Error
- +3.7%
- Stdev Down
- +7%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +34.9%
- Worst 12 Months
- +4.3%
- Efficiency Ratio
- +0.56
- Sharpe
- +1.35
- Stdev Sectors
- +9.4%
- Skewness
- +0.08
- Kurtosis
- -0.55
- Upside Potential
- +4.49
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 5798 | $276.3B | 52 | ||
| 2026 Q1 | 5624 | $240.3B | 50 | ||
| 2025 Q4 | 5950 | $237.8B | 47 | ||
| 2025 Q3 | 5978 | $234.3B | 57 | ||
| 2025 Q2 | 5805 | $207.1B | 0 | ||
| 2025 Q1 | 5787 | $187.9B | 100 | ||
| 2024 Q4 | 5890 | $204.6B | 0 | ||
| 2024 Q3 | 6030 | $210.9B | 0 | ||
| 2024 Q2 | 5803 | $215.9B | 0 | ||
| 2024 Q1 | 6138 | $234.1B | 0 | ||
| 2023 Q4 | 6007 | $231.1B | 0 | ||
| 2023 Q3 | 6057 | $198.1B | 0 | ||
| 2023 Q2 | 6041 | $202.8B | 0 | ||
| 2023 Q1 | 6297 | $174.4B | 0 | ||
| 2022 Q4 | 6550 | $180.7B | 0 | ||
| 2022 Q3 | 7016 | $169.1B | 0 | ||
| 2022 Q2 | 6905 | $161.2B | 0 | ||
| 2022 Q1 | 6823 | $188.6B | 0 | ||
| 2021 Q4 | 6691 | $196.8B | 0 | ||
| 2021 Q3 | 6709 | $166.7B | 0 | ||
| 2021 Q2 | 6451 | $163.0B | 48 | ||
| 2021 Q1 | 5831 | $139.8B | 54 | ||
| 2020 Q4 | 5148 | $138.5B | 77 | ||
| 2020 Q3 | 4381 | $81.2B | 67 | ||
| 2020 Q2 | 4114 | $73.0B | 78 | ||
| 2020 Q1 | 3772 | $44.5B | 84 | ||
| 2019 Q4 | 4140 | $79.9B | 73 | ||
| 2019 Q3 | 4106 | $63.3B | 70 | ||
| 2019 Q2 | 3991 | $66.5B | 71 | ||
| 2019 Q1 | 3935 | $66.8B | 77 | ||
| 2018 Q4 | 3696 | $64.1B | 79 | ||
| 2018 Q3 | 3843 | $81.6B | 72 | ||
| 2018 Q2 | 3748 | $76.7B | 73 | ||
| 2018 Q1 | 3584 | $74.9B | 66 | ||
| 2017 Q4 | 3754 | $72.5B | 67 | ||
| 2017 Q3 | 3461 | $65.6B | 71 | ||
| 2017 Q2 | 3402 | $56.1B | 74 | ||
| 2017 Q1 | 3441 | $54.6B | 80 | ||
| 2016 Q4 | 3293 | $47.8B | 93 | ||
| 2016 Q3 | 3234 | $59.6B | 86 | ||
| 2016 Q2 | 3128 | $43.7B | 74 | ||
| 2016 Q1 | 3213 | $40.0B | 77 | ||
| 2015 Q4 | 3365 | $47.6B | 78 | ||
| 2015 Q3 | 3416 | $51.6B | 76 | ||
| 2015 Q2 | 3261 | $52.9B | 69 | ||
| 2015 Q1 | 3511 | $53.7B | 74 | ||
| 2014 Q4 | 3867 | $47.2B | 75 | ||
| 2014 Q3 | 3650 | $39.5B | 71 | ||
| 2014 Q2 | 3337 | $36.1B | 74 | ||
| 2014 Q1 | 3398 | $34.5B | 82 | ||
| 2013 Q4 | 3418 | $31.7B | 74 | ||
| 2013 Q3 | 3258 | $31.1B | 69 | ||
| 2013 Q2 | 2944 | $32.6B | 0 |
Holding changes this quarter
Millennium Management LLC's most significant position changes for 2026-06-30: New buy: ; Sold out: Ste Str Spdr Pt S&p 500 ETF (SPYM); Sold out: Lumentum Holdings Inc (LITE 0.5 06-15-28); Sold out: Coterra Energy Inc (CTRA); Sold out: Hologic Inc (HO1).
Showing top 200 changes by size (of 4844 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +2.4% | +182.26% | Add |
| 2 | ✓ | +1.2% | NEW | New buy | |
| 3 | MU | Micron Technology Inc | +1.1% | -8.92% | Trim |
| 4 | AMD | Advanced Micro Devices | +0.9% | -9.22% | Trim |
| 5 | SMH | Vaneck Semiconductor ETF | +0.5% | +68.70% | Add |
| 6 | IVV | Ishares Core S&p 500 ETF | +0.4% | +11.69% | Add |
| 7 | INTC | Intel CORP | +0.4% | -3.50% | Trim |
| 8 | TLT | Ishares 20+ Year Treasury Bd | +0.3% | +282.83% | Add |
| 9 | STX | Seagate Technology Holdings plc | +0.3% | +64.33% | Add |
| 10 | BE | Bloom Energy Corp- A | +0.3% | +486.26% | Add |
| 11 | NBIS | Nebius Group N.V. | +0.3% | +322.47% | Add |
| 12 | NVDA | Nvidia CORP | +0.3% | +8.63% | Add |
| 13 | DIA | Ss Spdr Dow Jones Indus Avg | +0.3% | +134.41% | Add |
| 14 | QQQ | Invesco Qqq Trust Series 1 | +0.2% | -1.90% | Trim |
| 15 | VOO | Vanguard S&p 500 ETF | +0.2% | +80.57% | Add |
| 16 | PANW | Palo Alto Networks Inc | +0.2% | +15.99% | Add |
| 17 | CRDO | Credo Technology Group Holding Ltd | +0.2% | +176.75% | Add |
| 18 | AMAT | Applied Materials Inc | +0.2% | -19.53% | Trim |
| 19 | WDC | Western Digital CORP | +0.2% | +35.07% | Add |
| 20 | LRCX | Lam Research CORP | +0.1% | -15.18% | Trim |
| 21 | SNOW | Snowflake Inc | +0.1% | +185.41% | Add |
| 22 | DHR | Danaher CORP | +0.1% | +532.29% | Add |
| 23 | CAT | Caterpillar Inc | +0.1% | +32.85% | Add |
| 24 | ALAB | Astera Labs Inc | +0.1% | +153.94% | Add |
| 25 | SNDK | Sandisk CORP | +0.1% | -57.54% | Trim |
| 26 | VRT | Vertiv Holdings Co-a | +0.1% | +208.05% | Add |
| 27 | TXN | Texas Instruments Inc | +0.1% | +68.80% | Add |
| 28 | ECHO | Echostar Corp-a | +0.1% | +200.13% | Add |
| 29 | AMG | Affiliated Managers Group | +0.1% | +16202.46% | Add |
| 30 | LYV 3.125 01-15-29Bond | Live Nation Entertainmen | +0.1% | +3240.00% | Add |
| 31 | D | Dominion Energy Inc | +0.1% | +793.63% | Add |
| 32 | QCOM | Qualcomm Inc | +0.1% | +50.52% | Add |
| 33 | NRG | Nrg Energy Inc | +0.1% | +105.39% | Add |
| 34 | LII | Lennox International Inc | +0.1% | +273.13% | Add |
| 35 | JHX | James Hardie Industries plc | +0.1% | +317.77% | Add |
| 36 | KLAC | Kla CORP | +0.1% | +1372.60% | Add |
| 37 | DVN | Devon Energy CORP | +0.1% | +575.59% | Add |
| 38 | WAT | Waters CORP | +0.1% | +315.80% | Add |
| 39 | FTNT | Fortinet Inc | +0.1% | +216.35% | Add |
| 40 | SCHW | Schwab (charles) CORP | +0.1% | +173.65% | Add |
| 41 | CARR | Carrier Global CORP | +0.1% | +343.78% | Add |
| 42 | STRL | Sterling Infrastructure Inc | +0.1% | +686.90% | Add |
| 43 | ROKU | Roku Inc | +0.1% | +274.85% | Add |
| 44 | XBI | Ss Spdr S&p Biotech ETF | +0.1% | +84.60% | Add |
| 45 | GLD | Spdr Gold Shares | +0.1% | +221.77% | Add |
| 46 | MPWR | Monolithic Power Systems Inc | +0.1% | +1246.78% | Add |
| 47 | IBM | Intl Business Machines CORP | +0.1% | +54.22% | Add |
| 48 | ASML | ASML Holding N.V. | +0.1% | +13.89% | Add |
| 49 | XLI | Ss Industrial Select Sector | +0.1% | +111.00% | Add |
| 50 | ZS | Zscaler Inc | +0.1% | +270.35% | Add |
1–50 of 200
Filing History
Related 13F Filing Analysis
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FAQ
What is Millennium Management LLC and what type of investor is it?
Millennium Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $276.3B, spread across 5798 disclosed positions.
What are Millennium Management LLC's largest equity positions?
Based on the latest 13F filing, Millennium Management LLC's top holdings by market value are:
1. Ishares Russell 2000 ETF (IWM) — $14.5B (5.3%)
2. Ishares Core S&p 500 ETF (IVV) — $10.9B (3.9%)
3. Ss Spdr S&p 500 ETF Trust-us (SPY) — $10.4B (3.8%)
4. Nvidia CORP (NVDA) — $9.0B (3.3%)
5. Invesco Qqq Trust Series 1 (QQQ) — $7.7B (2.8%)
What changes did Millennium Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Millennium Management LLC made 200 notable position adjustments: 7 new positions were initiated, 107 existing holdings were added to, 77 positions were partially reduced, and 9 were completely exited. The largest of these moves: New buy: ; Sold out: Ste Str Spdr Pt S&p 500 ETF (SPYM); Sold out: Lumentum Holdings Inc (LITE 0.5 06-15-28); Sold out: Coterra Energy Inc (CTRA); Sold out: Hologic Inc (HO1)
What sectors does Millennium Management LLC focus on?
Millennium Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 37.1%
• Industrials: 10.4%
• Financials: 10.0%
• Consumer Discretionary: 9.8%
• Communication Services: 9.0%
• Health Care: 8.6%
Investment Profile
Millennium Management LLC returned an annualized 20.0% over the trailing 36 months — underperforming the S&P 500 by 2.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.07 (roughly in line with the market) and a 58% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 37.1% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 52 over the past 4 quarters — a shift toward more active trading.
It has added to its MU position over the past two quarters (+$4.0B, now $5.0B), while trimming WMT over the same stretch (-$4.2B, still holding $633.5M).
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Developer Access
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