While hedge funds have upped their bets on the "Magnificent Seven" tech stocks that have fuelled portfolio gains so far this year, another tech major, Tesla Inc, remains their most popular short position, according to a report by CityWire.

The report cites Goldman Sachs Group's latest hedge fund trend report as highlighting that, the EV maker remained the most popular short position among hedge funds as of 31 October.

According to Goldman's data, hedge funds held short positions worth nearly $19bn at the end of last month, despite the company's stock having risen more that 90% year-to-date, according to data from FactSet.