Hedge Funds Add Amazon and Intel While Cutting Nike and Pfizer, Filings Show

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Hedge Funds Add Amazon and Intel While Cutting Nike and Pfizer, Filings Show

Bloomberg02-15

Megcap tech, AI among popular positions in fourth quarterMichael Burry’s Scion closed bearish semiconductor wagers(Bloomberg) -- Hedge funds bought into some of the biggest technology names in the ...

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Dip Buyers Wade Back In to Fuel Wall Street Gains: Markets Wrap. Lyft’s CEO Says ‘My Bad’ on Margin Error, ‘It Was One Zero’。Musk Says Putin Can’t Lose in Ukraine, Opposes Senate Bill. Amazon.com was cut or reduced by 158 investors, the biggest such number; Amazon.com was also increased or initiated by 158 investors, t","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"文件显示，对冲基金增加亚马逊和英特尔，同时削减耐克和辉瑞","themeId":"e8a161e5210b43e2aeaaa0b0ebd3e0a6","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PFE":1,"AMZN":1,"INTC":1,"NKE":1},"content_text":"Megcap tech, AI among popular positions in fourth quarterMichael Burry’s Scion closed bearish semiconductor wagers(Bloomberg) -- Hedge funds bought into some of the biggest technology names in the fourth quarter to chase a scorching rally in the sector fueled by the growth in artificial intelligence, according to the latest quarterly reports investment managers filed with the US Securities and Exchange Commission. These institutional investors added 14.8 million shares of Amazon.com at $21.6 billion, the biggest increase by market value for a single stock in the three months through December. They also bolstered positions in AI pioneers Intel Corp. and Nvidia Corp., according to Bloomberg’s analysis of data from 13F filings. Meta Platforms Inc. was an outlier that saw a net sale of $6.6 million shares from this group of investors, a sign of profit taking during the stock’s 18% rally.Over the last few months 2023, Wall Street fund managers were closely tracking the outlook for the Federal Reserve’s most aggressive hiking cycle as well as its impact on equity valuations. The tech-heavy Nasdaq 100 Index soared 54% in 2023, the most since 1999, while the S&P 500 gained 24% and has continued to reach records so far this year.Meanwhile, hedge funds reduced the value of investment in Nike Inc. and Pfizer Inc., according to the data. Among individual hedge funds, Michael Burry’s Scion Asset Management closed its wager against semiconductor companies, and snapped up shares across industries including healthcare.Read: Burry Covers Bearish Semis Wager, Buys Health and Tech StocksBloomberg has so far analyzed 13F filings by 835 hedge funds. Their combined holdings amounted to $677.23 billion, compared with $614.09 billion held by the same funds three months earlier.Technology accounted for the biggest weighting in the investor group’s portfolios, at 25%, followed by consumer discretionary, at 15%. The value of investments in technology climbed the most while utilities rose by the least for any industry.Two Sigma Advisers LP sold 4.52 million shares in Nike Class B, the biggest reduction by the investor group; Renaissance Technologies LLC sold 3.48 million sharesRenaissance Technologies LLC sold 17.03 million shares in American Airlines Group, the biggest reduction by the investor group; Two Sigma Advisers LP sold 6.78 million sharesRenaissance Technologies LLC added 4.3 million shares in Amazon.com, the largest increase; Egerton Capital UK LLP added 4.15 million sharesFarallon Capital Management LLC added 5.47 million shares in Vestis, the largest increase; Arrowstreet Capital LP added 1.78 million sharesAmazon.com was cut or reduced by 158 investors, the biggest such number; Amazon.com was also increased or initiated by 158 investors, the biggest tallyMeta Platforms Class A was the most valuable overall holding at $21.65 billion","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":4,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}