Millennium Management LLC
Reported US equity positions for Q1 2026 — $133.7B across 3,858 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| IVV iShares Core S&P 500 ETF | $8.5B | 6.3% | 12,985,806 |
| NVDA NVIDIA Corporation | $1.8B | 1.4% | 10,585,647 |
| SPYM State Street SPDR Portfolio S&P 500 ETF | $1.7B | 1.2% | 21,566,182 |
| WDC 3 11.15.28 Western Digital Corp | $1.5B | 1.1% | 205,553,000 |
| NSC Norfolk Southern Corporation | $1.3B | 1.0% | 4,584,086 |
| WBD Warner Bros. Discovery, Inc. - Series A | $1.2B | 0.9% | 43,939,392 |
| AAPL Apple Inc. | $1.2B | 0.9% | 4,668,333 |
| META Meta Platforms, Inc. | $1.1B | 0.9% | 2,004,892 |
| MSFT Microsoft Corporation | $1.0B | 0.8% | 2,798,177 |
| EA* Electronic Arts INC | $871.7M | 0.7% | 4,275,528 |
| LITE 0.5 06.15.28 Lumentum Hldgs INC | $841.9M | 0.6% | 157,266,000 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $754.6M | 0.6% | 2,232,887 |
| FCX Freeport-McMoRan, Inc. | $744.6M | 0.6% | 12,667,694 |
| IBIT iShares Bitcoin Trust ETF | $741.0M | 0.6% | 19,287,318 |
| SNDK Sandisk Corp | $725.7M | 0.5% | 1,142,295 |
| BAC Bank of America Corporation | $695.7M | 0.5% | 14,269,820 |
| AVGO Broadcom Inc. | $665.8M | 0.5% | 2,151,004 |
| MS Morgan Stanley | $657.8M | 0.5% | 3,997,261 |
| BLK BlackRock, Inc. | $617.0M | 0.5% | 641,558 |
| VOO Vanguard S&P 500 ETF | $607.6M | 0.5% | 1,016,744 |
| MRVL Marvell Technology, Inc. | $605.5M | 0.5% | 6,112,977 |
| TSLA Tesla, Inc. | $584.6M | 0.4% | 1,572,603 |
| AMZN Amazon.com, Inc. | $584.6M | 0.4% | 2,806,889 |
| CBRE CBRE Group Inc Common Stock Class A | $581.7M | 0.4% | 4,294,149 |
| KVUE Kenvue Inc. | $548.3M | 0.4% | 31,801,263 |
| C Citigroup, Inc. | $545.5M | 0.4% | 4,809,646 |
| AEP American Electric Power Company, Inc. | $544.2M | 0.4% | 4,151,358 |
| MU Micron Technology, Inc. | $542.3M | 0.4% | 1,605,077 |
| XLF State Street Financial Select Sector SPDR ETF | $529.8M | 0.4% | 10,731,301 |
| G6700G107 Nvent Elec PLC | $529.7M | 0.4% | 4,478,152 |
| G491BT108 Invesco LTD | $525.8M | 0.4% | 21,648,675 |
| FE FirstEnergy Corp. | $516.5M | 0.4% | 10,194,994 |
| GOOG Alphabet Inc. - Class C Capital Stock | $511.2M | 0.4% | 1,781,986 |
| GOOGL Alphabet Inc. | $478.3M | 0.4% | 1,663,187 |
| CTRA Coterra Energy INC | $447.4M | 0.3% | 12,730,854 |
| HO1 Hologic INC | $427.2M | 0.3% | 5,651,225 |
| ECHO 3.875 11.30.30 Echostar Corp | $420.9M | 0.3% | 117,545,000 |
| ISRG Intuitive Surgical, Inc. | $419.6M | 0.3% | 910,292 |
| SPGI S&P Global Inc. | $418.7M | 0.3% | 984,438 |
| LNG Cheniere Energy, Inc. | $411.8M | 0.3% | 1,451,265 |
| MA Mastercard Incorporated | $408.3M | 0.3% | 817,074 |
| HBAN Huntington Bancshares Incorporated | $406.1M | 0.3% | 25,947,023 |
| SPY State Street SPDR S&P 500 ETF Trust | $405.1M | 0.3% | 622,922 |
| BMY Bristol-Myers Squibb Company | $397.0M | 0.3% | 6,545,442 |
| IEX IDEX Corporation | $378.3M | 0.3% | 1,995,944 |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $367.1M | 0.3% | 1,356,610 |
| BP BP p.l.c. | $366.6M | 0.3% | 7,799,720 |
| JPM JP Morgan Chase & Co. | $360.9M | 0.3% | 1,226,765 |
| PEN Penumbra, Inc. | $360.6M | 0.3% | 1,098,136 |
| CVX Chevron Corporation | $358.4M | 0.3% | 1,732,061 |
| QQQ Invesco QQQ Trust, Series 1 | $356.7M | 0.3% | 618,044 |
| OVV Ovintiv Inc. (DE) | $347.6M | 0.3% | 5,856,068 |
| BABA 0.5 06.01.31 Alibaba Group Hldg LTD | $343.3M | 0.3% | 246,992,000 |
| STEP StepStone Group Inc. | $342.3M | 0.3% | 7,173,424 |
| LRCX Lam Research Corporation | $339.4M | 0.3% | 1,588,727 |
| ROST Ross Stores, Inc. | $335.8M | 0.3% | 1,550,276 |
| VLO Valero Energy Corporation | $333.7M | 0.2% | 1,350,674 |
| GM General Motors Company | $333.3M | 0.2% | 4,473,755 |
| MSCI MSCI Inc. | $330.0M | 0.2% | 612,159 |
| CG The Carlyle Group Inc. | $329.2M | 0.2% | 6,803,055 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| IVV iShares Core S&P 500 ETF | Trim | $8.5B | $9.9B | -10% |
| NVDA NVIDIA Corporation | Trim | $1.8B | $2.8B | -31% |
| WDC 3 11.15.28 Western Digital Corp | Add | $1.5B | $918.1M | +3% |
| NSC Norfolk Southern Corporation | Add | $1.3B | $1.2B | +10% |
| WBD Warner Bros. Discovery, Inc. - Series A | Add | $1.2B | $738.1M | +72% |
| AAPL Apple Inc. | Trim | $1.2B | $1.3B | -6% |
| META Meta Platforms, Inc. | Add | $1.1B | $732.3M | +81% |
| MSFT Microsoft Corporation | Add | $1.0B | $1.1B | +22% |
| EA* Electronic Arts INC | Add | $871.7M | $857.2M | +2% |
| LITE 0.5 06.15.28 Lumentum Hldgs INC | Add | $841.9M | $212.1M | +110% |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | Add | $754.6M | $389.0M | +74% |
| FCX Freeport-McMoRan, Inc. | Trim | $744.6M | $809.4M | -21% |
| IBIT iShares Bitcoin Trust ETF | Trim | $741.0M | $1.7B | -44% |
| SNDK Sandisk Corp | Trim | $725.7M | $355.9M | -24% |
| AVGO Broadcom Inc. | Trim | $665.8M | $1.5B | -52% |
| MS Morgan Stanley | Add | $657.8M | $403.9M | +76% |
| BLK BlackRock, Inc. | Add | $617.0M | $543.9M | +26% |
| MRVL Marvell Technology, Inc. | Add | $605.5M | $466.1M | +11% |
| AMZN Amazon.com, Inc. | Trim | $584.6M | $838.9M | -23% |
| KVUE Kenvue Inc. | Add | $548.3M | $376.1M | +46% |
| C Citigroup, Inc. | Add | $545.5M | $408.4M | +37% |
| MU Micron Technology, Inc. | Add | $542.3M | $312.1M | +47% |
| XLF State Street Financial Select Sector SPDR ETF | Add | $529.8M | $224.2M | +162% |
| G6700G107 Nvent Elec PLC | Trim | $529.7M | $625.5M | -27% |
| G491BT108 Invesco LTD | Add | $525.8M | $364.7M | +56% |
| FE FirstEnergy Corp. | Trim | $516.5M | $509.2M | -10% |
| GOOG Alphabet Inc. - Class C Capital Stock | Trim | $511.2M | $785.5M | -29% |
| GOOGL Alphabet Inc. | Trim | $478.3M | $840.1M | -38% |
| HO1 Hologic INC | Add | $427.2M | $260.7M | +61% |
| ISRG Intuitive Surgical, Inc. | Trim | $419.6M | $842.2M | -39% |
| LNG Cheniere Energy, Inc. | Trim | $411.8M | $329.6M | -14% |
| SPY State Street SPDR S&P 500 ETF Trust | Trim | $405.1M | $2.5B | -83% |
| IEX IDEX Corporation | Add | $378.3M | $189.3M | +88% |
| JPM JP Morgan Chase & Co. | Trim | $360.9M | $563.9M | -30% |
| PEN Penumbra, Inc. | Add | $360.6M | $210.7M | +62% |
| CVX Chevron Corporation | Trim | $358.4M | $327.9M | -19% |
| QQQ Invesco QQQ Trust, Series 1 | Add | $356.7M | $366.7M | +4% |
| OVV Ovintiv Inc. (DE) | Add | $347.6M | $223.1M | +3% |
| BABA 0.5 06.01.31 Alibaba Group Hldg LTD | Add | $343.3M | $313.1M | +23% |
| STEP StepStone Group Inc. | Add | $342.3M | $286.0M | +61% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.