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Alternative Market Briefing

Top hedge funds exit energy, consumer discretionary and healthcare in Q4: S&P

Monday, February 20, 2017

Benedicte Gravrand, Opalesque Geneva:

According to S&P Global Market Intelligence's review of Q4 2016 filings by pure play hedge funds, the top hedge funds dropped their holdings of energy, consumer discretionary and healthcare, as well as, but to a lesser degree (in millions of dollars instead of billions), materials, utilities and telecom services. A year ago (Q4 2015), energy was the most bought sector.

The most sold stocks in Q4 2016 included Amazon, The Williams Companies, AB InBev, Teva Pharmaceuticals, and Allergan.

On the other hand, top funds increased their holdings of financials, info tech and industrials. They also increased, to a lesser degree, their holdings in real estate and consumer staples. A year ago, financials was the most sold sector.

The most bought stocks last quarter included Dow Chemical, Deere & Co, Visa, Bank of America and Walgreens Boots Alliance.

Source: S&P Global Market Intelligence Hedge Fund Tracker, Q4 2016

The top funds managed approximately $153bn in equity holdings, an increase of about $8bn in Q3.

However, the report says, because these funds saw a slight drop in the total number of positions to 420 from 424 in Q3, the increase in assets under management (AuM) is more than likely due to the end-of-year equity market rally.

The top hedge fund, as measured by equity assets, was Viking Global w......................

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