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What The ‘Smart Money’ Is Up To
Hedge funds shifted towards cyclicals during the second quarter and began Q3 the least underweight financials versus the Russell 3000 in more than a decade. At the same time, funds carried a record-long weight in mega-cap tech.
Those were a few of the takeaways from the latest installment of Goldman's quarterly hedge fund monitor. Another: Nvidia topped the "Rising Stars" list, with 30 funds adding the stock during Q2.
The cyclical bent marked a continuation of the recent trend and reflected f
