[ad_1]
NEW YORK, Aug 15 (Reuters) – Two Sigma Investments, Hudson Bay Capital Management and Soros Fund Management, were among prominent hedge funds that increased stakes in megacap technology companies last quarter, positioning themselves to benefit recently. Return in growth stocks.
Two Sigma Investments, for example, added a new position in Facebook-parent Meta Platforms Inc ( META.O ) to just over 1.5 million shares, which was worth $248.5 million at the end of June, according to securities filings.
Hudson’s Bay Capital added 4.66 million shares of Apple Inc ( AAPL.O ) worth nearly $638 million at the end of June, while Soros Fund Management added a new position of 30,000 shares in Tesla Inc ( TSLA.O ). 20.1 million dollars at the time of record.
Shares of MetaPlatform are up 12.1% this quarter, Apple is up 26.6% and Tesla shares are up 37.8%.
Quarterly records known as 13-fs are one of the few ways to describe long positions, but may not reflect current holdings.
Technology and growth stocks have been reeling from a brutal first half of the year in recent weeks as some investors worry the Federal Reserve will be less hawkish than expected in its fight to contain the worst inflation in four decades.
The Russell 1000 Growth Index (.RLG), which is dominated by tech stocks, is up 17.6% for the current quarter.
The tech-heavy Nasdaq rose 19%.
In addition to megacap technology companies, the funds also added new positions in small growth and technology companies.
For example, Soros added 300,000 shares in Uber Technologies Inc ( UBER.N ) worth $6.1 million at the end of the quarter, while Tut Sigma bought 10.6 million shares of Snap Inc ( SNAP.N ) worth about $140 million. End of June.
Shares of Snap fell 6.7% in the quarter, while Uber shares rose nearly 59% over the same period.
Sign up now for unlimited access to Reuters.com
Reporting by David Randall Editing by Margherita Choi
Our standards: The Thomson Reuters Trust Principles.
[ad_2]
Source link
