Thu, Jul 2, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

World's 10 largest hedge funds load up on industrial stocks

Thursday, May 24, 2018
Opalesque Industry Update - The world's 10 largest hedge funds by equity assets were bullish on industrial stocks in the first quarter and narrowed their stakes in consumer discretionary companies, according to S&P Global Market Intelligence data.

Collectively, the 10 firms purchased a net $3.44 billion in shares in industrial companies, the most of any sector for the second straight quarter. Consumer staples companies were the second-favourite target, garnering $2.51 billion in net purchases. On the other hand, the hedge funds were net sellers in consumer discretionary and healthcare, selling off positions in those sectors worth $3.14 billion and $2.27 billion, respectively.

As of May 21, the group of 10 reported 570 equity positions worth $176.62 billion. In dollar terms, the group was most bullish on media company 21st Century Fox Inc. during the first quarter, even though one hedge fund, TCI Fund Management Ltd., was responsible for all the buying. TCI increased its position by more than 74 million shares in the first quarter in both class A and B, pushing the total value of its investment to $3.12 billion.

Facebook Inc. and Microsoft Corp. were the most popular stocks during the quarter, as six firms either initiated or increased stakes in both companies. Information technology companies accounted for 29% of the group's total holdings, the most of any sector.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opinion: Steve Schwarzman predicts a 'big V' economic rebound in next few months[more]

    From SMH: Steve Schwarzman, chief executive officer of Blackstone Group said the economy is likely to benefit from a V-type recovery in the next few months. The co-founder of the world's biggest alternative asset management firm weighed in on markets in an interview during the Bloomberg Invest G

  2. Inside billionaire CQS trader Michael Hintze's $1.4bn loss, Brazilian hedge fund still down 56%, despite 16 months of crypto gains[more]

    Inside billionaire CQS trader Michael Hintze's $1.4bn loss From FT: Investors were looking for answers from Michael Hintze. The billionaire founder of CQS had a bad start to the pandemic: his flagship fund lost 33 per cent during March's market rout, wiping out about $1bn in value. Bu

  3. Tech: Quants sound warning as everyone chases same alternative data[more]

    From Bloomberg: When the pandemic struck, George Mussalli used social media and Google searches to suss out which companies were gripped by a sudden collapse in sales. By scraping bulletin boards for clues on staff morale, the quant at PanAgora Asset Management dug deep for high-frequency insigh

  4. PE/VC: Elizabeth Warren demands answers from private equity industry on coronavirus response, lobbying, Private equity on the prowl for distressed companies, New crop of venture firms takes aim at individual disease areas, British venture capital has $10.44bn ready to invest in fast-growth businesses[more]

    Elizabeth Warren demands answers from private equity industry on coronavirus response, lobbying From CNBC: Sen. Elizabeth Warren has written to the CEO of private equity lobbying group the American Investment Council, demanding more information about the organization's efforts related t

  5. New Launches: GP Bullhound raises $141m for its fifth tech fund, LBC Credit Partners V aims to raise $1bn, B Capital shores up $820m in second fund, BayernKapital closes second Bavarian Growth Fund, PGIM Investments launches global corporate ESG bond fund, MSIM launches Paris Agreement-aligned global balanced sustainable fund, Unigestion announces closes for Secondary V and Direct II, Waterton plans $1.25bn fundraise for latest US apartment fund[more]

    GP Bullhound raises $141m for its fifth tech fund From PE News: Technology-focused investment firm GP Bullhound has held the first close of its latest fund with €125m ($141m) of capital commitments. GP Bullhound Fund V is a pan-European venture capital fund targeting primarily l