Billionaire Ken Griffin heavily investing in SPDR S&P 500 and Invesco QQQ ETFs

From Nasdaq: 2024-10-21 04:49:00

Ken Griffin, founder of Citadel Advisors, boasts a net worth of $43 billion, largely from stock picking. He also invests heavily in exchange-traded funds (ETFs). Notably, he owns 5.6 million shares of the SPDR S&P 500 ETF Trust valued at $3.05 billion. The ETF tracks the S&P 500 and has been a strong performer.

Griffin’s second-largest holding is the Invesco QQQ Trust, owning 3.3 million shares valued at $1.58 billion. This ETF tracks the Nasdaq-100 Index and holds top tech stocks like Apple and Microsoft. Both ETFs have delivered strong returns, making them attractive long-term investments despite high valuation concerns.

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Read more at Nasdaq: 2 ETFs That Billionaire Ken Griffin Is Buying Hand Over Fist