Few investors have been as adept at picking stocks as Ken Griffin. He's worth nearly $38 billion. He founded Citadel in 1990. It has since become the most successful hedge fund of all time.

However, Griffin's two biggest purchases in the second quarter of 2024 weren't individual stocks. Instead, the billionaire investor bought shares of two exchange-traded funds (ETFs) hand over fist in Q2.

Citadel's largest holding -- by far -- is the SPDR S 500 ETF Trust (NYSEMKT: SPY). Griffin likes this ETF so much that he bought more than 2 million additional shares in Q2, increasing his hedge fund's stake by roughly 56.7%.

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Source Fool.com