Billionaire Israel Englander's 2 Biggest Bets Are on the S&P 500, and He Just Bought More

Billionaire investor Israel Englander's hedge fund, Millennium Management, significantly increased its broad-market exposure in the second quarter of 2026, positioning two major S&P 500 index funds as its largest portfolio holdings. According to the firm's recent 13F filing, Millennium boosted its stake in the iShares Core S&P 500 ETF (IVV) by 11.69% to 14.5 million shares valued at $10.9 billion, making up 7.33% of its total portfolio. Simultaneously, the multi-manager fund dramatically surged its position in the State Street SPDR S&P 500 ETF Trust (SPY) by 679.73%, adding 4.2 million shares to bring its holding to 4.9 million shares worth $3.6 billion. Together, these two core benchmark ETFs constitute nearly 10% of the firm's over $92 billion in assets under management. This aggressive allocation illustrates that even sophisticated multi-manager hedge funds are utilizing low-cost, highly liquid index funds to anchor core portfolio diversification and manage macro exposure while maintaining balanced, sector-wide positioning across tech, financials, industrials, and healthcare.