Strategists at Goldman Sachs have written that Microsoft has replaced Amazon as the most popular top 10 holding among hedge funds.
The investment bank’s Hedge Fund Trend Monitor found 82 have Microsoft among their top 10 long positions. Amazon appeared across the leading cohort of picks 79 times.
Other names found most frequently in hedge funds’ top 10 selections were Alphabet, Uber, and Netflix.
Uber and Netflix were ranked among the top 5 most popular hedge fund longs for the first time.￼
Mega-cap technology giants continue to dominate the list of most popular top hedge fund holdings even as Big Tech has seen a severe drawdown this year amid rising interest rates.
Meta Platforms fell out of the top five among top hedge fund holdings for the first time since 2014.