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Magnificent Six Drive Hedge-Fund Returns in Q1 as Funds Trim Mega-Cap Tech, Seeking Alpha Elsewhere

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Michelle deBoer-Jones
Published on
Hedge funds trimmed positions on net in the Magnificent 7 during 1Q 2024
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The Magnificent Seven stocks (AMZN, GOOGL, META, TSLA, NVDA, AAPL, MSFT) continued to drive returns during the first quarter, pushing the year-to-date return of the average U.S. long/ short equity hedge fund up to 8%. In fact, Tesla was the only one of the "magnificent" stocks not to notch a position at the top of...

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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.