Hedge Funds Buy Mag 7, Eli Lilly — IVV, SPY, QQQ See Heavy Q4 Accumulation - iShares Core S&P 500 ETF (ARCA:IVV), Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), State Street SPDR S&P 500 ETF Trust (ARCA:SP

Core Insights - Hedge funds significantly increased their allocations to major U.S. equity ETFs in Q4 2025, particularly favoring mega-cap tech and growth stocks [1][4][5] Group 1: Hedge Fund Allocations - IVV received the highest hedge fund allocations at $41.5 billion, with BlackRock contributing $6.3 billion, Schonfeld Strategic Advisors $5.4 billion, and Millennium Management $4.7 billion [1] - SPY attracted $18.8 billion in allocations, led by Jane Street Group with $5.5 billion, followed by Capula Management at $1.8 billion and D. E. Shaw & Co. at $1.4 billion [2] - VOO garnered $16.6 billion in allocations, with Capula Management leading at $7.4 billion, and contributions from Marshall Wace LLP and Kedalion Capital Management LLP at $2.8 billion and $1.8 billion, respectively [2] - QQQ received $4 billion in hedge fund allocations, with Jane Street Group contributing $841 million, Delta Global Management LP $812 million, and NWI Management $398 million [3] Group 2: Investment Focus - Major tech firms such as Nvidia, Microsoft, Amazon, and Apple were among the top holdings in the S&P 500 and Nasdaq-100 indexed ETFs that hedge funds accumulated [4] - Hedge fund managers appeared to be combining direct stock investments in these mega-cap companies with passive investment strategies through index funds, indicating a dual approach to investment [4] - The overall buying trend in Q4 suggests that hedge funds were reinforcing their positions in well-established market leaders rather than seeking out lesser-known investment opportunities [5]