Two Sigma Investments, for example, added a new position in Meta Platforms Inc, Facebook’s parent company, of just over 1.5 million shares that was worth $248.5 million at the end of June, filings show. of titles.
Hudson Bay Capital added a new position of 4.66 million shares in Apple Inc worth nearly $638 million at the end of June, while Soros Fund Management added a new position of nearly $638 million. 30,000 shares in Tesla Inc worth $20.1 million at the time of filing.
Shares of Meta Platform are up 12.1% so far this quarter, Apple has gained 26.6% and shares of Tesla are up 37.8%.
Quarterly filings known as 13-fs are one of the few ways that hedge funds are required to disclose their long positions, but they may not reflect current holdings.
Tech and growth stocks have come back strong in recent weeks after a brutal first half of the year, with some investors betting that the Federal Reserve will be less belligerent than expected in its fight to tame the worst inflation in forty years.
The tech-dominated Russell 1000 Growth Index is up 17.6% for the current quarter, versus a 10.5% gain for the Russell 1000 Value Index.
The tech-heavy Nasdaq is up 19%.
In addition to tech mega-caps, the funds also added new positions in smaller growth and technology companies.
Soros, for example, added 300,000 shares of Uber Technologies Inc which were worth $6.1 million at the end of the quarter, while Two Sigma bought 10.6 million shares of Snap Inc worth about $140 million at the end of June.
Shares of Snap are down 6.7% for the quarter to date, while shares of Uber are up nearly 59% in the same period.