During the third quarter, hedge funds continued to favor the Magnificent Seven but broadly slashed their large-cap weightings while adding exposure to mid-cap names. Meanwhile, managers also rotated within the Magnificent Seven and artificial intelligence theme.
However, Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), Microsoft Corp (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL)(NASDAQ:GOOG), NVIDIA Corp (NASDAQ:NVDA) and Apple Inc (NASDAQ:AAPL) remained at the top of Goldman Sachs' Hedge Fund VIP list.
Hedge funds add to nuclear power
Within the AI theme, fund managers generally added to stocks offering exposure to nuclear power, as evidenced by Vistra joining the VIP list. Meanwhile, funds slashed exposures to AI infrastructure stocks. As such, Apple and Amazon actually made the Falling Stars list, as did Dell Technologies...
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