Lone Pine Capital was responsible for most the group’s collective sale of Nike. Facebook was the top position funds entirely sold out of or decreased their positions in. The field was divisive on Microsoft, as the software firm was second among new or increased positions and but also high on the list of decreased positions.
Equity hedge funds negative on U.S. large caps
Equity hedge funds were negative on six of the 11 S&P 500 sectors. The consumer discretionary sector saw just less than $3 billion in positions declined – largely due to Lone Pine’s sale of Nike; health-care and tech stocks were also among the most sold companies. Energy and material stocks saw interest from equity hedge funds, but overall the market sentiment on U.S. large caps was negative.
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