Microsoft has replaced Amazon.com as the favourite long position for hedge funds, according to a report by Dow Jones Newswires, with Goldman Sachs analysis revealing that 82 funds now have Microsoft as a top ten portfolio holding.
Microsoft has replaced Amazon.com as the favourite long position for hedge funds, according to a report by Dow Jones Newswires, with Goldman Sachs analysis revealing that 82 funds now have Microsoft as a top ten portfolio holding.
Amazon meanwhile, features in the top ten portfolio holdings of 79 funds according to Goldman’s analysis of 786 hedge funds with $2.3 trillion of gross equity positions ($1.5 trillion long and $730 billion short) also reveals that 79 funds have Amazon (AMZN) in their top 10 stock positions.
The Goldman Sachs team, led by Ben Snider, created a VIP list comprising 50 stocks that appear most often among the top 10 holdings of fundamental hedge funds by calculating hedge fund positions at the start of the fourth quarter, based on 13-F quarterly filings to the Securities and Exchange Commission as of 15 Nov.
Newcomers to the the top five in the VIP list include Uber (UBER) and Netflix (NFLX), while funds poured capital into Bath & Body Works (BBWI) to own 28% of equity cap, making it the S&P 500 stock with the most concentrated hedge fund ownership.
IBM (IBM), Stryker (SYK) and Principal Financial (PFG) meanwhile,have the least hedge-fund concentration of any S&P 500 company.
Overall, the average hedge fund has lost 5% this year, while the VIP hedge fund basket of the most popular long positions (GVIP) has returned -29% in the year-to-date.
