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Alternative Market Briefing

Hedge funds exit consumer discretionary stocks in Q2

Thursday, August 17, 2017

Komfie Manalo, Opalesque Asia:

A S&P Global Market Intelligence study has found that hedge funds sold $3bn in consumer discretionary stock in the second quarter, led by $1bn in sales of Nike stock. The healthcare sector saw $1.4bn sales among top hedge funds and the information technology sector saw $1.1bn in sales by large funds.

The findings were included in the quarterly S&P Global Market Intelligence Hedge Fund Tracker, an aggregate analysis of hedge fund equity ownership that highlights hedge fund investments in specific stocks and sectors.

"Though overall equity holdings held relatively steady from Q1 to Q2, the investment mix shifted considerably among top hedge funds who were net sellers in 6 out of the 11 sectors of the S&P 500," said Pavle Sabic, head of Market Development, S&P Global Market Intelligence. "We also see a great deal of divergence in strategy among top funds, evidenced by the fact that Microsoft is both the most bought single stock among top funds and the third-most sold single stock among top funds."

The latest Hedge Fund Tracker analysis shows the top funds managed approximately $154bn in equity holdings, down slightly from the $157bn under management in Q1 2017. The total number of equity positions held also fell slightly from 427 in Q1 to 423 in Q2, as hedge funds ma......................

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