Amaranth Hedge Fund Equity Portfolio - A Quick Look: http://nastybrutishandtall.com/2006/09/amaranth-hedge-fund-equity-portfolio.html First we took a look at the top ten holdings as % of the portfolio on 6/30: SPY US - 127.23 GG US - 30.22 S US - 19.99 HUM US - 53.70 RAIL US - 55.51 SEA US - 10.16 IMA US - 28.23 FE US - 54.21 OKE US - 34.04 UNH US - 44.78 STJ US - 32.42 DADE US - 41.64 The top ten positions accounted for 23% of the entire equity portfolio of about 1,600 total positions. The SPY we can ignore, itâs just an index.