Hedge Funds Double Down on Big Tech Stocks Despite Market Losses
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Tiger Global and other hedge funds expanded bets on tech stocks like Nvidia, Alphabet, Meta, Microsoft, and Amazon despite losses in 2022.
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Pershing Square Capital raised its stake in Alphabet by nearly 100% during Q3.
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Coatue Management increased its Meta position by 9% to own 6.2 million shares.
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Light Street Capital boosted its Amazon stake by 5% after taking a new position last quarter.
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Goldman Sachs said in August that hedge funds held record exposure to the 7 biggest tech stocks.