Goldman Says Hedge Funds Back Betting Big On Megacap Tech Stocks (2 min read)
Hedge funds are betting on the comeback of US megacap tech stocks and expect them to be back at levels during the beginning of pandemic. With the current uncertainty and market volatility, hedge funds have cut leverage and shifted their focus on growth and portfolio concentrations. Report shows that the average top 10 holdings are now 70% of the overall portfolio, which is the highest concentration ever seen in hedge funds since early 2020. Some of the top long positions are Amazon.com Inc, Microsoft Corp, Apple Inc, Nvidia Corp, and Tesla Inc.