Millennium Management, Israel Englander's multi-strategy firm managing roughly $75 billion, has widened its lead over rival Citadel through the first half of 2026 while accelerating a series of high-profile allocations to external managers.

Millennium was up around 10% year-to-date by mid-2026, against approximately 5% at Ken Griffin's Citadel, according to a July analysis by industry writer Rupak Ghose. Bloomberg attributed part of Millennium's performance to its large index-rebalancing team.

The firm has committed more than $1 billion to Third Epsilon, the Hong Kong-based fund of former Citadel quant researcher Paul Dou, and has lined up a future allocation to a new fund from senior Jump Trading quant researcher Yiming Zhang.

The two firms diverge on capacity. Citadel, managing $65.9 billion, has returned over $30 billion to investors since 2017, including $5 billion in early 2026, deliberately capping size to protect returns. Point72 reached $50.7 billion by Q1 2026, narrowing the gap with Citadel.

In 2025, Millennium returned 10.5% against Citadel's 10.2%, the first year it outperformed Citadel's Wellington fund since 2020.