This top performing growth fund likes tech stocks for the coming labor shortage as it expects sector to become half of S&P 500

Alkeon Growth Partners was up 1.65% for October, bringing its year-to-date return to 26.96%. The fund had 122 long positions and 119 short positions with a net exposure of 80% and gross exposure of 182%. Alkeon's long positions contributed positively to its performance, while its short positions and hedges detracted.

Q3 2019 hedge fund letters, conferences and more

Support for the equity market

In their October letter to investors, which was reviewed by ValueWalk, the Alkeon team said they "remain very constructive on high quality growth compounders with strong secular product cycles (that are often largely decoupled from the economic cycle." However, they have also maintained their "catastrophe and recession tail insurance."

They see the stock market receiving support from...