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Discover the industry's "best ideas" by examining four indices crafted to reveal top hedge fund holdings: Conviction, Crowdedness, Concentration, and Consensus.

Data Source: 
13F
Update Frequency: 
Quarterly
Novus 4C Indices

No failure to communicate

June 18, 2021

Hedge fund managers are infatuated by the Communication Services sector, the Novus 4C Conviction index shows. We say "are infatuated by" rather than "love" because love stands the test of time and, as recently as May 2018, there was literally zero interest in the sector. But overnight it became the source of roughly one-third of hedge funds' exposure and has stuck to that plateau ever since.

Impressive results from such components as Sea Ltd. (NYSE:SE) and Alphabet (Nasdaq:GOOG) keep the relationship spicy.

Still, hedge fund managers have a wandering eye, and it might be casting its gaze at Financial Services next. Bank of America (NYSE:BAC) has garnered positive attention as read by the Consensus index.