LONDON/NEW YORK, Aug 28 - Hedge funds hold record exposure to the seven biggest tech stocks by market capitalization, according to data released on Friday by Goldman Sachs, in a week Nvidia hit an all-time high after beating revenue expectations.
Microsoft , Apple , Alphabet , Meta , Amazon , Nvidia and Tesla saw the biggest percent of single stock exposure as of Aug. 24, meaning the positions were trades in the individual stocks, not just in the indices like the Nasdaq. "We essentially have had two markets: the 'Magnificent Seven' and all the rest of equities. Hedge funds will be forced into capturing these returns regardless of analysis," said Jim Neumann, chief investment officer of Sussex Partners.
Goldman Sachs, which runs one of Wall Street's largest prime brokerages, is able to track trends in flows.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: globeandmail - 🏆 5. / 92 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »