Key points
- Millennium Management cut its Churchill Capital Corp XI (CCXI) stake to 1,490,636 shares, or 3.6%, down from 5.3% in December 2025.
- That's 734,243 shares gone, about a third of the position, per a 13G/A filed July 31 with an event date of June 30.
- The original stake dates to the SPAC's December 17, 2025 IPO pricing, when the units sold at $10. CCXI closed June 30 at $17.45.
- BlueCrest disclosed a new 5.6% stake as of June 26, two days after the Agility Robotics merger was announced.
We've written up a Millennium Management ownership filing twice in the past two weeks, and both times the fund was buying. This one's the other direction.
Millennium filed an amended Schedule 13G on July 31 for Churchill Capital Corp XI (CCXI), the blank-check company merging with humanoid robot maker Agility Robotics. The stake is down to 1,490,636 shares, 3.6% of the Class A ordinary shares. Back in December 2025 it was 2,224,879 shares, or 5.3%.
What the amendment says
Three names sign every Millennium ownership filing: the management company, its parent Millennium Group Management, and founder Israel A. Englander. All three report the same shared voting and dispositive power over the same 1,490,636 shares. Gil Raviv, the firm's global general counsel, signed for the two entities on July 30. Englander signed for himself. EDGAR posted the amendment after Friday’s close.
The filing carries the Rule 13d-1(c) certification, which is the passive-investor language. The shares "were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer," it reads. How that differs from an activist 13D is covered in a separate piece.
The position started at $10
Churchill Capital Corp XI priced its IPO on December 17, 2025 and closed it the following day. The company sold 41,400,000 units at $10.00 apiece, including the underwriters' full over-allotment, for gross proceeds of $414,000,000. The same $10.00 per unit went into a trust account at Continental Stock Transfer & Trust. Millennium's original 13G carries an event date of December 17, the pricing date.
CCXI closed at $17.45 on June 30, the event date on the new amendment. It's down to $13.86 as of Friday's close.
A 13G reports a share count on one date, so the timing inside the window stays open. That window runs from December 17 to June 30, so it's better than six months wide.
The SEC's amendment calendar narrows it a little. Under the amended beneficial ownership rules, a 13G filer amends within 45 days of the end of any quarter in which its position changed materially. Millennium's only prior filing on Churchill Capital XI is the December original. The deadline for June 30 positions is August 14, and the firm filed on July 31.
The deal the stake is attached to
Churchill announced the merger on June 24 at a $2.5 billion pre-money equity value, with more than $620 million of expected gross proceeds. That includes a $200 million common stock PIPE priced at $10 a share. The combined company is expected to list as AGLT.
Michael Klein, Churchill's chairman and chief executive, called Agility "a humanoid first mover with proven technology, real-world deployments, and the trust of some of the world's most demanding enterprises" in the announcement. Agility chief executive Peggy Johnson put the addressable market in the United States at "approximately $1 trillion" by management's own estimate. Our June 30 deep dive on the deal goes through the structure, and the stock's July 28 jump on the FCC move against Chinese robots is covered separately.
Seven other funds are in the same shares
Eight institutions have filed ownership reports on Churchill Capital XI since the IPO. Millennium is the only one whose amendment shows a smaller position than the filing before it, and the only one now reporting under 5%.
| Filer | Shares | % of class | As of | Filed |
|---|---|---|---|---|
| Empyrean Capital Partners | 3,500,000 | 8.35% | Dec 31, 2025 | Feb 17, 2026 |
| Adage Capital Management | 2,700,000 | 6.44% | Dec 31, 2025 | Feb 12, 2026 |
| Magnetar Financial | 2,700,000 | 6.44% | Dec 31, 2025 | Feb 17, 2026 |
| MMCAP International | 2,700,000 | 6.4% | Mar 31, 2026 | May 11, 2026 |
| BlueCrest Capital Management | 2,354,233 | 5.6% | Jun 26, 2026 | Jul 2, 2026 |
| Fort Baker Capital Management | 2,252,979 | 5.4% | Dec 31, 2025 | Feb 17, 2026 |
| Rich Huang | 2,150,177 | 5.13% | Jul 13, 2026 | Jul 20, 2026 |
| Millennium Management | 1,490,636 | 3.6% | Jun 30, 2026 | Jul 31, 2026 |
Five of the eight last reported as of a date that's before the Agility deal existed.
The two names that arrived after the announcement both arrived big. BlueCrest Capital Management, the firm Michael Platt runs, appears in the record for the first time on July 2, reporting 2,354,233 shares as of June 26. That's two days after the deal. Rich Huang filed on July 20 for a combined 5.13% held through Huang Capital and RichRich Capital, as of July 13.
What a 13G leaves out
The form reports a share count on one date, plus who holds voting and disposal power over the shares. Motive stays out of it.
Millennium's own filing is unusually clear about that second part. The shares sit with entities under the investment discretion of Millennium and other managers, and the document says this "should not be construed in and of itself as an admission" of beneficial ownership by Millennium or Englander. The fund runs money through hundreds of independent investment teams sharing one balance sheet, which is why a stake this size traces to a single team instead of a house view. Our explainer on what a pod shop is covers the structure.
The next three dates on this story are already set. August 14 is when 13G filers report where they stood on June 30, so the five funds still carrying last year's numbers either update or stay silent. The Form S-4 registration statement was still absent from EDGAR on August 1, and that document carries Agility's first disclosed revenue figures. Then comes the shareholder vote, which decides how much of the trust stays in the deal. Churchill put that trust at about $420 million as of May 29 in its investor presentation, and every share redeemed takes cash out of it.
Before treating any single ownership filing as a trading signal, read our piece on copying hedge fund disclosures.
Sources
- Millennium Management Schedule 13G/A on Churchill Capital Corp XI, filed July 31, 2026
- Millennium Management Schedule 13G on Churchill Capital Corp XI, filed December 23, 2025
- BlueCrest Capital Management Schedule 13G, filed July 2, 2026
- Churchill Capital Corp XI Form 8-K on the IPO closing and trust funding, December 23, 2025
- Joint press release of Churchill Capital Corp XI and Agility Robotics, June 24, 2026
Prices are July 31, 2026 closes. This is general market information, not investment advice. Always do your own research and consider speaking with a licensed financial professional before making any investment decision.
