Hedge Funds Tweak Portfolios In Q1: Marvell, TD Synnex, AES Get More Love As Focus Shifts To AI
Hedge Funds Tweak Portfolios In Q1: Marvell, TD Synnex, AES Get More Love As Focus Shifts To AI
Hedge funds made strategic adjustments to their portfolios throughout the first quarter of 2024.
對沖基金在整個2024年第一季度對其投資組合進行了戰略調整。
Firms are looking for high-return opportunities beyond the mega-cap tech giants preferring to focus on cyclical sectors and artificial intelligence (AI)-related infrastructure stocks.
除了那些更願意專注於週期性板塊和人工智能(AI)相關基礎設施股票的大型科技巨頭之外,企業正在尋找高回報的機會。
Except for Apple Inc (NASDAQ:AAPL), positions in several 'Magnificent Seven' stocks — Alphabet Inc (NASDAQ:GOOGL), Amazon.com Inc (NASDAQ:AMZN), Nvidia Corp (NASDAQ:NVDA), Microsoft Corp (NYSE:MSFT), and Meta Platforms Inc (NASDAQ:META) — were trimmed from hedge funds.
除蘋果公司(納斯達克股票代碼:AAPL)外,對沖基金削減了幾隻 “壯麗七強” 股票——Alphabet Inc(納斯達克股票代碼:GOOGL)、亞馬遜公司(納斯達克股票代碼:AMZN)、英偉達公司(納斯達克股票代碼:NVDA)、微軟公司(紐約證券交易所代碼:MSFT)和Meta Platforms Inc(納斯達克股票代碼:MSFT)——的頭寸。
Still, the strong performance of the so-called 'Magnificent 7′ tech stocks maintained their weight at 13% of hedge fund long portfolios, according to the latest Goldman Sachs' Hedge Fund Monitor report.
儘管如此,根據高盛最新的《對沖基金監測》報告,所謂的 “壯麗7股” 科技股的強勁表現仍保持在對沖基金多頭投資組合的13%。
Cyclical Sectors
週期性板塊
In parallel, hedge funds expanded their investments in cyclical sectors, elevating the exposure to Financials.
同時,對沖基金擴大了對週期性行業的投資,增加了金融風險敞口。
Information Technology remained the largest net sector weight at the start of Q2 2024. It accounts for 18% of total net exposure. However, it also registered the largest underweight relative to the Russell 3000, with a -913 basis points (bp) difference. Health Care was the largest overweight sector, with a +375 bp difference.
在2024年第二季度初,信息技術仍然是最大的行業淨權重。它佔總淨敞口的18%。但是,與羅素3000相比,它的減持幅度也最大,差異爲-913個點子(bp)。醫療保健是最大的增持板塊,差異爲+375個點子。
Sector | Hedge Funds' Net Weight |
Russell 3000 Weight | Hedge Fund Net Tilt |
---|---|---|---|
Health Care | 15.8% | 12.0% | +375 bp |
Communication Services | 11.0% | 8.8% | +226 bp |
Industrials | 12.1% | 9.9% | +222 bp |
Materials | 4.8% | 2.7% | +205 bp |
Energy | 4.9% | 3.8% | +109 bp |
Consumer Discretionary | 11.9% | 10.8% | +107 bp |
Utilities | 2.8% | 2.1% | +76 bp |
Financials | 13.3% | 14.2% | -98 bp |
Real Estate | 1.5% | 2.6% | -114 bp |
Consumer Staples | 4.0% | 6.0% | -196 bp |
Information Technology | 17.9% | 27.0% | -913 bp |
Total | 100.0% | 100.0% | 0 bp |
行業 | 對沖基金' 淨重 |
羅素 3000 體重 | 對沖基金淨利率 |
---|---|---|---|
醫療保健 | 15.8% | 12.0% | +375 bp |
通信服務 | 11.0% | 8.8% | +226 bp |
工業 | 12.1% | 9.9% | +222 bp |
材料 | 4.8% | 2.7% | +205 bp |
能量 | 4.9% | 3.8% | +109 bp |
消費者自由裁量權 | 11.9% | 10.8% | +107 bp |
公共事業 | 2.8% | 2.1% | +76 bp |
金融 | 13.3% | 14.2% | -98 bp |
房地產 | 1.5% | 2.6% | -114 bp |
消費必需品 | 4.0% | 6.0% | -196 bp |
信息技術 | 17.9% | 27.0% | -913 bp |
總計 | 100.0% | 100.0% | 0 bp |
There was also a notable rotation towards utilities, reflecting a broader AI investment focus.
還出現了向公用事業的明顯轉向,這反映了更廣泛的人工智能投資重點。
In particular, hedge funds have shown a keen interest in Phase 2 Infrastructure stocks within the AI sector. Among the companies that have seen the largest increase in hedge fund popularity, are:
特別是,對沖基金對人工智能領域的第二階段基礎設施股票表現出濃厚的興趣。對沖基金知名度增幅最大的公司包括:
- Marvell Technology Inc. (NASDAQ:MRVL)
- TD Synnex Corporation (NYSE:SNX)
- AES Corporation (NYSE:AES)
- Littelfuse Inc. (NASDAQ:LFUS)
- Marvell Technology Inc.(納斯達克股票代碼:MRVL)
- TD Synnex公司(紐約證券交易所代碼:SNX)
- AES 公司(紐約證券交易所代碼:AES)
- Littelfuse Inc.(納斯達克股票代碼:LFUS)
See Also: AI-Driven Rally Set To Expand To Power, Commodities, Utilities: 'It's Not Just About Nvidia Anymore'
另請參閱: 人工智能驅動的反彈將擴展到電力、大宗商品、公用事業:“這不再只是英偉達的問題”
Most Popular Hedge Funds' Increase In AI Universe During Q1 2024
2024 年第一季度最受歡迎的對沖基金在 AI 領域的增長
Name | Subsector |
Marvell Technology, Inc. | Semiconductors |
TD SYNNEX Corporation | Technology Distributors |
Apple Inc. | Technology Hardware Storage & Peripherals |
AES Corporation | Independent Power Producers & Energy Traders |
Littelfuse, Inc. | Electronic Components |
Adobe Inc. (NASDAQ:ADBE) | Application Software |
Freeport-McMoRan, Inc. (NYSE:FCX) | Copper |
Walgreens Boots Alliance, Inc. (NYSE:WBA) | Drug Retail |
Nextracker Inc. Class A (NASDAQ:NXT) | Electrical Components & Equipment |
First American Financial Corporation (NYSE:FAF) | Property & Casualty Insurance |
姓名 | 界別分組 |
Marvell 科技公司 | 半導體 |
TD SYNNEX 公司 | 技術分銷商 |
蘋果公司 | 技術硬件存儲和外圍設備 |
AES 公司 | 獨立電力生產商和能源貿易商 |
Littelfuse, Inc. | 電子組件 |
Adobe Inc.(納斯達克股票代碼:ADBE) | 應用軟件 |
弗裏波特-麥克莫蘭銅金公司(紐約證券交易所代碼:FCX) | 銅 |
Walgreens Boots Alliance, Inc.(紐約證券交易所代碼:WBA) | 藥品零售 |
Nextracker Inc. A 類(納斯達克股票代碼:NXT) | 電氣元件和設備 |
第一美國金融公司(紐約證券交易所代碼:FAF) | 財產和意外傷害保險 |
Most Concentrated Hedge Fund Holdings In The S&P 500
標普500指數中最集中的對沖基金持股
The Goldman Sachs' Hedge Fund Monitor asserts that portfolio concentration among hedge funds remains particularly elevated.
高盛的《對沖基金監測》斷言,對沖基金的投資組合集中度仍然特別高。
The typical hedge fund maintains 70% of its long portfolio in the top 10 positions. This trend remained extremely elevated in Q1 2024.
典型的對沖基金將其多頭投資組合的70%保持在前10個頭寸。這一趨勢在 2024 年第一季度仍然非常高。
The following table details the top 20 most concentrated hedge fund holdings within the S&P 500, highlighting where hedge funds are investing their capital.
下表詳細列出了標準普爾500指數中最集中的20家對沖基金持股,重點介紹了對沖基金的資本投資方向。
Company | Sector | Sub-sector | % of Equity Cap Owned by Hedge Funds |
---|---|---|---|
Bath & Body Works (NYSE:BBWI) | Consumer Discretionary | Other Specialty Retail | 27% |
Hess Corp. (NYSE:HES) | Energy | Oil & Gas Exploration & Production | 16% |
Ralph Lauren Corp. (NYSE:RL) | Consumer Discretionary | Apparel Accessories & Luxury Goods | 15% |
Expedia Group Inc. (NYSE:EXPE) | Consumer Discretionary | Hotels, Resorts & Cruise Lines | 14% |
Universal Health Svc. (NYSE:UHS) | Health Care | Health Care Facilities | 14% |
Western Digital (NASDAQ:WDC) | Information Technology | Technology Hardware, Storage & Peripherals | 13% |
NRG Energy Inc. (NYSE:NRG) | Utilities | Electric Utilities | 13% |
Invesco Ltd. (NYSE:IVZ) | Financials | Asset Management & Custody Banks | 13% |
Vistra Corp. (NYSE:VST) | Utilities | Independent Power Producers & Energy Traders | 13% |
Caesars Entertainment (NYSE:CZR) | Consumer Discretionary | Casinos & Gaming | 12% |
Evergy Inc. (NASDAQ:EVRG) | Utilities | Electric Utilities | 12% |
Catalent Inc. (NYSE:CTLT) | Health Care | Pharmaceuticals | 11% |
Juniper Networks (NYSE:JNPR) | Information Technology | Communications Equipment | 11% |
Dollar Tree Inc. (NYSE:DLTR) | Consumer Staples | Consumer Staples Merchandise Retail | 11% |
NiSource Inc. (NYSE:NI) | Utilities | Multi-Utilities | 10% |
Incyte Corp. (NASDAQ:INCY) | Health Care | Biotechnology | 10% |
Lamb Weston Holdings (NYSE:LW) | Consumer Staples | Packaged Foods & Meats | 10% |
Qorvo Inc. (NASDAQ:QRVO) | Information Technology | Semiconductors | 10% |
Synchrony Financial (NYSE:SYF) | Financials | Consumer Finance | 10% |
Humana Inc. (NYSE:HUM) | Health Care | Managed Health Care | 10% |
公司 | 行業 | 子行業 | 對沖基金持有的股票上限的百分比 |
---|---|---|---|
Bath & Body Works(紐約證券交易所代碼:BBWI) | 消費者自由裁量權 | 其他專業零售 | 27% |
赫斯公司(紐約證券交易所代碼:HES) | 能量 | 石油和天然氣勘探與生產 | 16% |
拉爾夫·勞倫公司(紐約證券交易所代碼:RL) | 消費者自由裁量權 | 服裝配飾和奢侈品 | 15% |
Expedia 集團公司(紐約證券交易所代碼:EXPE) | 消費者自由裁量權 | 酒店、度假村和郵輪公司 | 14% |
環球健康服務(紐約證券交易所代碼:UHS) | 醫療保健 | 醫療保健設施 | 14% |
西部數據(納斯達克股票代碼:WDC) | 信息技術 | 技術硬件、存儲和外圍設備 | 13% |
NRG 能源公司(紐約證券交易所代碼:NRG) | 公共事業 | 電力公用事業 | 13% |
景順有限公司(紐約證券交易所代碼:IVZ) | 金融 | 資產管理和託管銀行 | 13% |
瑞致達公司(紐約證券交易所代碼:VST) | 公共事業 | 獨立電力生產商和能源貿易商 | 13% |
凱撒娛樂(紐約證券交易所代碼:CZR) | 消費者自由裁量權 | 賭場和博彩 | 12% |
Evergy Inc.(納斯達克股票代碼:EVRG) | 公共事業 | 電力公用事業 | 12% |
Catalent Inc.(紐約證券交易所代碼:CTLT) | 醫療保健 | 藥品 | 11% |
瞻博網絡(紐約證券交易所代碼:JNPR) | 信息技術 | 通訊設備 | 11% |
美元樹公司(紐約證券交易所代碼:DLTR) | 消費必需品 | 必需消費品商品零售 | 11% |
NiSource Inc.(紐約證券交易所代碼:NI) | 公共事業 | 多用途工具 | 10% |
Incyte Corp.(納斯達克股票代碼:INCY) | 醫療保健 | 生物技術 | 10% |
蘭姆·韋斯頓控股公司(紐約證券交易所代碼:LW) | 消費必需品 | 包裝食品和肉類 | 10% |
Qorvo Inc.(納斯達克股票代碼:QRVO) | 信息技術 | 半導體 | 10% |
同步金融(紐約證券交易所代碼:SYF) | 金融 | 消費金融 | 10% |
Humana Inc.(紐約證券交易所代碼:HUM) | 醫療保健 | 管理型醫療保健 | 10% |
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