According to a 13F filing with the US Securities and Exchange Commission, Millennium Management increased its holdings in the iShares Core S&P 500 ETF (IVV) by 1.5 million shares and in the State Street SPDR S&P 500 ETF Trust (SPY) by 4.2 million shares during the second quarter. These two ETFs represent the firm's two largest positions, collectively accounting for nearly 10% of its total investment portfolio, highlighting the value even large hedge funds place on low-cost index funds. Millennium Management manages over $92 billion in assets.