Billionaire investor Israel Englander operates Millennium Management, the hedge fund he founded in 1989 and grew to become one of the world’s largest.
Millennium has more than 3,800 holdings with more than $92 billion in assets under management
But his two biggest holdings prove that you don’t need to pick a handful of the best stocks to achieve a diversified portfolio — for that, the best bet is with exchange-traded funds that track a major index. Millennium’s top two holdings are the iShares Core S&P 500 ETF (NYSEMKT: IVV) and the State Street SPDR S&P 500 ETF Trust (NYSEMKT: SPY). Both track the S&P 500, which includes 500 of the largest publicly traded companies in the U.S., providing instant diversification at a low cost.
Millennium purchased 1.5 million shares of IVV in the second quarter, according to the fund’s 13F filing with the U.S. Securities and Exchange Commission. And it bought 4.2 million shares of the SPY ETF, making it the fund’s second-largest holding.