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Discover insights from top hedge funds as well as aggregate trends on our Hedge Fund Ownership dashboard, powered by Novus.

Data Source: 
13F
Update Frequency: 
Quarterly
Hedge Fund Ownership

Are hedge funds out of ideas?

September 7, 2021

There's seems to be a shortage of original thinking in the hedge fund universe, as evidenced by the growing reliance on the biggest names on the biggest exchanges. Since October 2020, exposure to mega-caps has grown from 41.14% to 46.20%. As recently as five years ago, that number was below 30%. And really, does anyone need a portfolio manager to pick out Amazon, Microsoft and Facebook?

This crowding out comes at the expense of all other market cap ranges: large, mid, small and micro. Among large-caps, Expedia leads the class with 108 hedge funds owners, while mid-cap Lithia Motors has 78, small-cap Cohn Robbins has 64 and micro-cap ABG Acquisition Corp. has 38. Compare that with Amazon's 385 and you get the picture. In fact, 67 mega-caps have more hedge fund owners than Expedia.