Hedge funds concentrated their portfolios even further into growth stocks including Amazon.com Inc and Microsoft Corp in the first quarter of 2020 as the COVID-19 pandemic pummeled U.S. markets, Goldman Sachs analysts said in a report.
The two American multinationals saw the largest increase in hedge fund holdings, according to an analysis by the bank of 822 funds with 1.8 trillion in gross equity positions.Along with Facebook Inc , Alphabet Inc's Google and China's Alibaba , they have been hedge funds' top five long positions for seven consecutive quarters, the report said.
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