On November 1st, a fund manager responsible for a USD 60 million US mid-to-large cap equity portfolio is considering a strategy to lock in the gains from a recent market upswing. The S&P 500 Index is currently at 2,110, and the S&P 500 Index futures, which come with a multiplier of 250, are priced at 2,120. Rather than selling off the assets, the fund manager wants to hedge 66.67% (two-thirds) of the market risk for the upcoming two months. Given the correlation coefficient of 0.89 between the equity portfolio and the S&P 500 Index futures, and the annual volatilities of 0.51 for the equity portfolio and 0.48 for the S&P 500 futures, what position should the manager take to achieve this hedging objective?