New York-based Select Equity Group (SEG) is one of the largest hedge funds in the world. The firm founded by George Loening has a 35-year-long tradition known for its strategy revolving around opportunities in the small and mid-cap space. Their portfolio is valued at $27.70 billion and is diversified amongst 144 holdings.
The hedge fund's sector allocation is concentrated in four industry sectors, Industrials, Consumer Discretionary, Technology, and Financials. In the first quarter of 2024, the portfolio exposure was at 213%, and from that 144% fell onto long, and 69% onto short book.
The geographical focus is on the United States market, although 17% of the portfolio is mixed with short and long international positions.
The hedge fund refuses to try to predict the market or the trends. They opt to concentrate on identifying undervalued companies through fundamental analysis. The fund has its own research teams and refrains from relying on Wall Street consensus or management claims.
Hedge Fund Alpha obtained a copy of their Q1 2024 letter to investors, where the focus was on the outlook of the US economy, and on changes in the portfolio. Special attention was on
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