Amazon and Meta attract high-profile hedge funds
Several investment managers whose performance was pummeled when technology stocks skidded lower last year put fresh money into the handful of companies that are pulling the stock market higher this year, new regulatory filings show.
in the second quarter and said it boosted its stake in technology company Meta Platforms by 27%, according to a new regulatory filing.Coatue Management, founded by Philippe Laffont, increased its position in Amazon by 125% and raised its holdings of Microsoft stock by 67%, a filing showed. Investment managers must disclose what they hold in U.S. stocks at the end of each quarter and report that information to the Securities and Exchange Commission 45 days after the end of the quarter. The deadline for so-called 13-F filings for the second quarter is on Monday.
IPhone maker Apple, retailer Amazon, electric vehicle maker Tesla, chip maker Nvidia and technology company Meta are among the group that accounted for 73% of the market’s gains.
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