Investing.com UK - Financial Markets Worldwide
📈 Will you get serious about investing in 2025? Take the first step with 50% off InvestingProClaim Offer

Hedge Funds Target Tech In Q2, Increasing Positions In Meta Platforms, Microsoft, Nvidia, Apple

Published 15/08/2023, 19:29
© Reuters. Hedge Funds Target Tech In Q2, Increasing Positions In Meta Platforms, Microsoft, Nvidia, Apple
NDX
-
INTC
-
MSFT
-
AAPL
-
AMZN
-
NVDA
-
UNH
-
IXIC
-
META
-
BABA
-
PYPL
-

Benzinga - by Adam Eckert, Benzinga Staff Writer. New 13F filings show that hedge funds went tech-heavy in the second quarter as the sector continues to outperform.

What To Know: Investment managers filed their quarterly updates with the SEC this week. Tech remains in the crosshairs for hedge funds, with the Nasdaq Composite up more than 30% year-to-date and the Nasdaq 100 up a whopping 39%.

Meta Platforms Inc (NASDAQ: META) saw the biggest increase by market value during the quarter, according to a Bloomberg analysis. Investment firms increased their positions by 5.7 million shares in total.

A total of 114 investment firms upped their positions in Meta. Arrowstreet Capital boosted its stake the most, adding 3.71 million shares. Renaissance Technologies also snatched up 2.62 million shares during the quarter.

Microsoft saw the next biggest increase during the quarter, as investment managers added 2.41 million shares, making it the most valuable holding at $33.02 billion. However, 165 investors trimmed or sold out of Microsoft during the quarter, the highest number among all the stocks analyzed.

On the flip side, 172 investors upped or initiated positions in Amazon.com Inc (NASDAQ: AMZN), making it the most crowded trade during the quarter. By value, Amazon didn't see the inflows that Nvidia Corp (NASDAQ: NVDA) and Apple Inc (NASDAQ: AAPL) saw. Investors added 6.59 million shares of Nvidia and 19.34 million shares of Apple during the second quarter.

Hedge funds also cut positions in several names. UnitedHealth Group Inc (NYSE: UNH), Alibaba Group Holding Ltd (NYSE: BABA), Intel Corp (NASDAQ: INTC) and PayPal Holdings Inc (NASDAQ: PYPL) saw the biggest decreases in overall market value.

At the end of the quarter, tech represented the largest weighting in investment managers' portfolios at 28%. Health care was the next biggest at 16%.

Read Next: Berkshire Hathaway Is Betting On US Housing Market: Buffett Bought These Stocks, Should You?

Photo: Shutterstock

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.