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Millennium Management Faces $900M Loss Amid Market Volatility

3/8/2025

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Summary

Story summary

Millennium Management faced a loss of about US$900 million this year from index-rebalancing teams amid market volatility.
Glen Scheinberg oversees the larger team, while Pratik Madhvani leads the other.
Senior portfolio manager Jeremy Ma has departed from the firm.
Despite these challenges, Millennium continues to manage approximately US$75 billion and is down less than 1% this year.

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Story summary

Millennium Management faced a loss of about US$900 million this year from index-rebalancing teams amid market volatility.
Glen Scheinberg oversees the larger team, while Pratik Madhvani leads the other.
Senior portfolio manager Jeremy Ma has departed from the firm.
Despite these challenges, Millennium continues to manage approximately US$75 billion and is down less than 1% this year.