Hedge Funds Target Consumer Sectors While Dialing Back on Purchases of the Mag Seven

Thursday was the day 13F filings were due from hedge funds, and we've picked up some interesting trends from the Q3 2024 batch. For example, many hedge funds added to or initiated positions in consumer-oriented firms, while bets on energy also grew during the third quarter. We also saw decreased trading activity around Big Tech and the Magnificent Seven

Here's a roundup of some of the activity we found during Q3.

Hedge funds increasingly betting on the consumer

Discovery Capital boosted its stakes in Amazon, Alibaba, and Genius Sports and established a new position in McDonald's.

Soros Capital established new positions in American Outfitters and Alibaba and increased its stakes in hot dog chain Portillos and furniture retailer Arhaus. Engaged Capital more than doubled...