8/3/2025, 6:36:03 pm

Millennium Loses $900 Million on Strategy Roiled by Market Chaos

Millennium Management has lost about $900 million this year from two index-rebalancing teams due to market volatility. Glen Scheinberg and Pratik Madhvani lead these strategies, which involve betting on index changes. Despite losses, Millennium, managing $75 billion, was down less than 1% through February. Senior manager Jeremy Ma has left the firm.