Millennium Management.
The book · Q2 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q2 |
|---|---|---|---|---|---|---|
| 1 | IVV | ISHARES TR | 14.50M | $10.9B | 3.9% | +12% |
| 2 | IWM | ISHARES TR | 33.28M | $10.0B | 3.6% | −9% |
| 3 | NVDA | NVIDIA CORPORATION | 25.46M | $5.1B | 1.8% | +9% |
| 4 | IWM | ISHARES TR | 14.52M | $4.4B | 1.6% | — |
| 5 | QQQ | INVESCO QQQ TR | 5.42M | $4.0B | 1.4% | −2% |
| 6 | SPY | STATE STR SPDR S&P 500 ETF T | 4.86M | $3.6B | 1.3% | +182% |
| 7 | SPY | STATE STR SPDR S&P 500 ETF T | 4.75M | $3.5B | 1.3% | — |
| 8 | MU | MICRON TECHNOLOGY INC | 2.82M | $3.3B | 1.2% | −9% |
| 9 | SPY | STATE STR SPDR S&P 500 ETF T | 4.31M | $3.2B | 1.2% | — |
| 10 | QQQ | INVESCO QQQ TR | 4.07M | $3.0B | 1.1% | — |
Where the money is
AC read
Millennium Management's latest 13F, reflecting positions as of the reporting date but delayed 45 to 90 days under SEC rules, shows a fund still built on breadth rather than conviction. Across 5,798 positions and $276.3 billion in AUM, the top 10 holdings account for just 18.4% of the portfolio and the Herfindahl index sits at 0.006, a level that confirms no single name or cluster drives the book. Quarterly turnover of 67% and 691 new positions, against zero exits, point to a fund that adds exposure continuously rather than rotating out of existing names. This pattern is consistent with Millennium's pod structure, where dozens of independent trading teams run their own books and the aggregate 13F is a composite of many unrelated bets rather than one firm-wide view.
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