Millennium Management LLC, led by billionaire Israel Englander, made bold moves in its portfolio according to its second-quarter 13F filings, significantly boosting exposure to cryptocurrency and healthcare while strategically rebalancing its big tech holdings.
Millennium Bets On Cybersecurity And Bitcoin
The hedge fund's aggressive portfolio adjustments signal confidence in digital assets and medical innovation, alongside a nuanced approach to tech giants amid market volatility.
The fund's cryptocurrency bet stands out, with a 22% increase in its iShares Bitcoin Trust ETF (NASDAQ:IBIT) position, growing from $823 million to $1.31 billion in value.
Even more striking is the 282% surge in Palantir Technologies Inc. (NASDAQ:PLTR), with its stake rising from $110 million to $682 million, reflecting optimism in blockchain and data analytics. These moves suggest Millennium is positioning for a bullish crypto market, capitalizing on renewed investor interest in digital assets.
The fund value increased from $187.880 billion in the first quarter to $207.076 billion in the second quarter as it increased the number of its holdings from 5,787 to 5,805.
| Stocks/ETFs | Q1 2025 Value | Q2 2025 Value | Change |
| iShares Bitcoin Trust ETF (NASDAQ:IBIT) | $823.254 million | $1.311 billion | 59% |
| Palantir Technologies Inc. (NASDAQ:PLTR) | $110.796 million | $682.855 million | 516% |
| Edwards Lifesciences Corp (NYSE:EW) | $249.676 million | $522.599 million | 109% |
| Insmed Inc. (NASDAQ:INSM) | $51.815 million | $213.529 million | 312% |
| Microsoft Corp. (Call) (NASDAQ:MSFT) | $853.036 million | $1.739 billion | 104% |
| Alphabet Inc. (Put) (NASDAQ:GOOGL) | $1.337 billion | $1.024 billion | -23% |
| Meta Platforms Inc. (NASDAQ:META) | $900.379 million | $433.897 million | -52% |
Significant New Bets In Healthcare And Biotech
In healthcare, Millennium ramped up its investments in innovative companies. Edwards Lifesciences saw a 94% increase from 3.444 million shares to 6.682 million shares quarter-on-quarter, with its value climbing from $249 million to $522 million.
While Intuitive Surgical Inc. (NASDAQ:ISRG) stake grew 24% to $536 million in value. The most dramatic healthcare bet was on Insmed, where the fund's stake soared 212% to a value of $213 million, indicating strong confidence in biotech and medical technology advancements.
Tech Sector Rebalancing With Selective Increases
Meanwhile, Millennium rebalanced its tech portfolio, trimming exposure to Alphabet Class A shares by 33% in put options and slashing Meta Platforms’ direct holdings by 62%.
However, it boosted Microsoft call options by 54%, reaching $1.73 billion in value, and increased Oracle Corp. (NYSE:ORCL) direct holdings by 119% to $432 million in value, favoring enterprise software over social media and advertising-driven tech.
Other Key Changes In Q2
The fund also made significant moves in other sectors, notably financials, with a 72% increase in Bank of America Corp. (NYSE:BAC) put options to $632 million and a 667% jump in Citigroup Inc. (NYSE:C) call options to a value of $422 million. These shifts suggest a strategic pivot toward sectors poised for resilience or growth.
Price Action
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose on Tuesday. The SPY was up 0.42% at $645.16, while the QQQ also advanced 0.40% to $572.61, according to Benzinga Pro data.
On Wednesday, the futures of the S&P 500, Dow Jones, and Nasdaq 100 indices were trading slightly higher.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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