Millennium Management Boosts Stakes in Intuitive Surgical and Norfolk Southern

Israel Englander’s hedge fund, Millennium Management, significantly expanded its holdings in Intuitive Surgical (ISRG) and Norfolk Southern Corporation (NSC) during the fourth quarter of 2025. The fund increased its position in ISRG by a massive 470%, bringing its total stake to 1.5 million shares. This move highlights confidence in ISRG’s robust business model, which generates 81% of its revenue from recurring service contracts and surgical instruments. Simultaneously, Millennium raised its stake in NSC by 56% to reach 4.1 million shares. Analysts point to potential synergies from NSC's merger with Union Pacific and expected growth in merchandise volume as key drivers for the investment. The aggressive buying activity by a major institutional player signals strong confidence in the long-term growth prospects of both companies.