Hedge funds are making a notable pivot, selling off industrial stocks at the fastest rate since December while continuing to buy energy stocks for the fourth consecutive week, according to a report by Reuters.

Trend-following commodity trading adviser hedge funds have shifted their stance on Japanese equities, moving away from a bearish outlook to begin buying again late last week, according to a report by Channel News Asia.

Coatue Management, the hedge fund firm led by Philippe Laffont, increased its stake in Nvidia by 893% in Q2 to 13.75 million shares with the position in the chipmaker now accounting for 6.61% of the firm’s investment portfolio, according to a report by Benzinga.

ExodusPoint Capital Management saw a $1bn decline in AUM during H1 2024 to $11.04bn as of 30 June, down from $12.02bn at the end of 2023, according to a report from Reuters. At its peak in December 2022, the firm managed $13.1bn.

Viking Global Investors, the hedge fund firm led by Andreas Halvorsen, has chalked up big gains from a decision earlier in the year to shift all of its General Electric Co exposure to the firm’s newly independent clean energy division GE Vernova, according to a report by Bloomberg.

A yen-focused carry trade that contributed to recent market turmoil as investors moved to unwind positions following a number of hawkish moves by the Bank of Japan and concerns over the US economy, is attracting renewed interest from hedge funds, according to a report by Bloomberg.

Hedge funds Citadel and DE Shaw significantly reduced their holdings in Nvidia, while Renaissance Technologies and Marshall Wace increased their positions, ahead of the recent stock market downturn, according to a report by the Financial Times.

Trian Fund Management, the US-based activist hedge fund firm led by Nelson Peltz, has cut its stake in British consumer goods giant Unilever, selling approximately 3.8m shares for nearly £181m ($232m), according to a report by Reuters.