Warren Buffett once said, “Diversification is protection against ignorance.
It makes little sense if you know what you are doing.” I suspect that one of his fellow billionaires might disagree
Israel “Izzy” Englander runs Millennium Management. The hedge fund’s portfolio includes a staggering 5,622 holdings. But that large number could be somewhat misleading.
Roughly 15% of Englander’s $240 billion Millennium portfolio is invested in only 10 stocks. Englander’s top 10 Technically, Englander’s largest holding isn’t a stock. Instead, it’s an exchange-traded fund (ETF) that trades like a stock — the iShares Core S&P 500 ETF (NYSEMKT: IVV).