Magnificent Seven Remained Popular among Hedge Funds in Q4, Despite their Underweights

HFA Padded
Michelle deBoer-Jones
Published on
Updated on

Hedge funds have been known to favor the momentum and growth factors often, but at the end of 2023, long hedge fund portfolios had a record tilt toward momentum and the largest tilt toward growth since 2016. Meanwhile, gross leverage continued to climb, hitting new record highs. However, despite the record momentum tilt, the factor began to unwind sharply late in the year, inspiring fund managers to diversify their portfolios. Still favoring six of the Magnificent Seven In its quarterly “Hedge Fund Trend Monitor,” Goldman Sachs said that except for Tesla, the Magnificent Seven stocks accounted for six of the…

This content is exclusively for paying members of Hedge Fund Alpha

Log In

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!

HFA Padded

Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.