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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

Industrial revelation

October 8, 2021

The hedge fund universe took the March 2020 apocalypse as a signal to get out of Industrials. In one month, exposure to the sector shrank from 10.72% to 9.58%, then the slide continued through July 2020, when it bottomed out at 8.70%. It hasn't exactly come roaring back but slowly, incrementally, and not without a little backsliding, Industrials has regained some of its appeal and now stands at 9.49% of hedgies' combined portfolio, significantly higher than the broader market's 8.93%.

Within the sector, the top position is Uber Technologies, which is close enough to being a Tech company that it's almost cheating. Uber is the only large-cap on the mainly mid-cap list of the 15 Industrials with the largest number of hedge funds invested. It also in rare territory with 62 buyers to 40 sellers over the course of the last reporting cycle. The only one comparable in terms of this ratio is Caterpillar, with 33 buyers to 21 sellers.

Meantime, hedge fund interest appears to be waning for General Electric, FedEx, Lockheed Martin, United Parcel Service and Raytheon even as it strengthens for the sector at large.