Of the 786 hedge funds Goldman Sachs surveyed, 82 have Microsoft in their top 10 bulls, while 79 have Amazon.
November 25, 2022 2:34 pm
A team of strategists Goldman Sachs led by Ben Snider commented on it Microsoft replaced Amazon as the most popular holding company among the top ten hedge funds (speculative funds).
The information comes from Hedge fund trend tracking from the bank, which analyzes positions in 786 companies in the sector. The result proves it 82 funds have Microsoft in the top ten long positionswhile Amazon is only among the top 79 entities.
Other companies that were more frequently in the speculative funds the bigger they were Alphabet, Uber and Netflixthe last two are among the five most popular funds.
For his part, Meta (formerly Facebook) exited major hedge fund holdings for the first time since 2014due to the heavy losses suffered in the last year.
Goldman Sachs has a VIP hedge fund basket of the 50 most frequently appearing stocks in the top 10 hedge fund holdings, which together they add about US$1.5 trillion in bull positions.
Since 2001, this basket outperformed the S&P 500 in 58% of the quarterswith a higher yield of 34 basis points, but this year it accumulates a 30% decline, compared with a 16% decline in the popular stock index.
Among the main reasons is the sharp rise in interest ratesthat directly attacked tech companies.
Since there is a higher discount rate, the current values of its shares are lower, which logically has a negative impact on the market price. And because hedge funds are always on the cutting edge, they have high positions in technology.
