SF Gate – Jeffrey N. Vinik, the hedge-fund manager whose stock selections have beaten markets for the better part of two decades, has invested almost half of his U.S. equity portfolio in passive index funds.
Of the $3.39 billion in equities Vinik oversaw as of Sept. 30, about 48 percent was comprised of exchange-traded funds that track industries and global markets, according to a November regulatory filing. His Boston-based firm held more shares than any other hedge fund in 11 of the 13 ETFs he owned, according to data compiled by Bloomberg.
