Hedge Funds Pile Into Just Six Tech Stocks

Tyler Durden's picture

Last week we showed a fascinating statistic demonstrating just how poor market breadth has been in the latest push higher by the S&P: according to Goldman, as of May 10, just 10 companies have been responsible for half, or 46% to be exact, of the entire S&P's rally YTD. 

And with the 13-F reporting period now over, we now know the reason why just six tech stocks were reponsible for the majority of the S&P's upward surprise YTD - virtually every prominent hedge fund piled into them. The breakdown presented below, courtesy of Bloomberg, reveals just how urgent the scramble for "growth" was in the first quarter.

As Bloomberg adds, with an average gain of 26% , "it’s hard to overstate the influence of just six stocks on the U.S. stock market in the first quarter: Facebook Inc., Apple Inc., Amazon.com Inc., Microsoft Corp., Alphabet Inc. and Netflix Inc."

Here’s where some of the best-known hedge funds stood on the companies according to filings covering positions on March 31.

Facebook (FB)

Top new buy:

  • Corvex (+850,000)

Boosted stake:

  • Adage (+822,100)
  • Citadel (+4,289,917)
  • Lansdowne (+899,846)
  • Melvin (+963,021)
  • Moore (+850,492)
  • Omega (+194,100)
  • Point72 (+2,020,400)
  • Pointstate (+2,564,100)
  • Renaissance Tech (+2,141,800)
  • Ruane Cunniff (+300,000)
  • Soros (+284,400)
  • Tiger (+338,396)

Cut stake:

  • Sylebra (-358,944)

Top exit:

  • Airain (-229,332)

* * *

Apple (AAPL)

Top new buy:

  • Moore (+255,000)

Boosted stake

  • Adage (+140,600)
  • Berkshire (+75,881,454)

* * *

Amazon (AMZN)

Top new buy:

  • Melvin (+251,084)
  • Moore (+58,183)
  • Renaissance (+329,255)

Boosted stake:

  • Lansdowne (+35,525)
  • Pointstate (+265,878)

Cut stake:

  • Viking (-535,762)

Top exit:

  • Soros (-28,100)

* * *

Microsoft (MSFT)

Top new buy:

  • Moore (+1,190,000)

Boosted stake:

  • Pointstate (+2,758,200)
  • Viking (+7,068,972)

Top exit:

  • Renaissance Technologies (-2,368,100)

* * *

Alphabet (GOOGL)

Boosted stake:

  • Moore (+47,860)
  • Omega (+19,440)
  • Pointstate (+267,500)

Cut stake:

  • Lansdowne (-99,638)
  • Tiger Global Management (-97,750 and -67,800 GOOG)
  • Viking (-388,219 and -4,017 GOOG)

Top exit:

  • Airain (+14,612 and -12,577 GOOG)
  • Soros (+1,300 and -20,200 GOOG)

* * *

Netflix (NFLX)

Top new buy:

  • Omega (+77,700)
  • Lansdowne (+30,164)
  • Tiger (+429,000)

Boosted stake:

  • Tybourne (+590,966)

Cut stake:

  • Melvin (-175,000)
  • Viking (-556,280)

Source: Bloomberg

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Grandad Grumps's picture

Makes sense. If you are going to bet on something, it might as well be the companies founded and supported by the NSA/CIA and international banks. They can conrol the price of 6 companies easily (with today's computers they can control the entire market if they decide to).

BennyBoy's picture

 

I, for one, support the all the illegal activities, murder and theft by the NSA/CIA.

 

Manthong's picture

“You can avoid reality but you cannot avoid the consequences of reality”
-Ayn Rand

I wonder if she was thinking of ~200 P/E’s…

_RRR_'s picture

just bought all the stocks listed above since the HF guys seem to be very smart

Arnold's picture

The quants have only one working model left.
Buy the all time fucking highs.

VinceFostersGhost's picture

 

 

Are we hedging or speculating?

 

Oh hell.....like it matters.

PlayMoney's picture

just 5 stocks in the Nasdaq 100 account for 50% of its gains. 10 in the S&P account for 50% of its gains. With all these new highs there are still more stocks down than up. Breadth is the worst i have ever seen.

Ricki13th's picture

Exactly this "market" is run by six companies, just like the MSM.

duo's picture

You guys remember when AOL was essentially the whole gain in the SP500? I 'member. It didn't end well.

Last of the Middle Class's picture

AOL didn't have 6 trillion dollars worth of QE to offload any bad debts from really stupid investments.

HenryKissingerChurchill's picture

Facebook Inc: Sheep herding and spying
Apple Inc: Sheep herding and spying
Amazon.com Inc: sales and spying
Microsoft Corp: Sheep spying
Alphabet Inc:  Sheep herding and spying
Netflix Inc.Sheep herding and mass lobotomy

I think the subject which will be of most importance politically is mass psychology <<Bertrand Russell>>

yogibear's picture

A rigged market. Trade accordingly.

As soon as it looks like the bottom is going to drop out the magic buyers buyers swoop in and bid it up to new highs.

Guess who is doing this?

Price discovery is not allowed in these markets anymore. Central Banks will attempt to keep assets inflated at all costs.

Catullus's picture

Everyone in my extended famliy has not given a dime to FB, GOOG, MSFT, or V in the past 7 years. 25 adults. Nothing.

Snaffew's picture

if they use their services, then they have.

Catullus's picture

They've cut them a check? Because the answer is a resounding no.

It's just curious you can take a sample of 25 adults and none of them have given money to companies which collectively have a market cap of 15-18% of US GDP

nufio's picture

none of your extended family uses google, facebook, youtube or have a smartphone? searched for restaurants or gas stations? work on a desktop computer/laptop at work? have gmail? or a work email on an exchange server? used a word document? everything is monteized!

if i take a sample of 25 adults around me, i bet all of them have driven indirect profits in all of these companies, not just one of them. 

 

 

silverer's picture

It may not be "forward" for the tech companies, but it's sure forward for you. The customer is always right.

Catahoula's picture

The only ones you need in tech. They will continue to move up. Obvious

silverer's picture

I left Apple for Google. Android now. Was only $115.00 for the phone, new. But I don't want Google up my rear either. I downloaded three apps and basically shut everything else down. turned off notifications for every app I could. No face in phone anymore. I'm done. I wonder how many more like me, and where their revenue will come from?

nufio's picture

I bet that the population demographic you represent is so small, its irrelevant. 

I dont have fb or twitter and sadly i dont even know anyone who doesnt have one or both.

 

Money_for_Nothing's picture

The financial world is filled with zombies and vampires. Maybe it will be farce this time. The Vampires are running out of blood and the zombies have no brains. The center will not hold.

Long memory man's picture

gee they do not make anything, when the shit hits the fan, you need land to grow food, that is the future.

alfredhorg's picture

And gold in case something chases you off your land:

https://howibeatgold.wordpress.com