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BofA Securities in its Active Managers’ Holdings Update report, published on Wednesday, named the most overweight stocks by hedge funds.
Hedge fund managers’ positioning in the S&P 500 stocks was reported by BofA “by aggregating their long positions reported through the 13F filings, and by estimating their short positions based on exchange-reported data,” according to the analysts.
These are 20 stocks with the highest net exposure by hedge funds, relative to the stocks’ weight in the S&P 500 (SP500). Data as of December 2023:
- Incyte (INCY) – hedge fund net relative weight: 38.16
- Bath & Body Works, Inc. (BBWI) – hedge fund net relative weight: 28.77
- TransDigm (TDG) – hedge fund net relative weight: 14.45
- Lamb Weston Holdings, Inc. (LW) – hedge fund net relative weight: 12.78
- Everest Group (EG) – hedge fund net relative weight: 12.51
- Caesars Entertainment Inc. (CZR) – hedge fund net relative weight: 12.41
- Universal Health Services, Inc. (UHS) – hedge fund net relative weight: 11.58
- Invesco Ltd. (IVZ) – hedge fund net relative weight: 11.47
- Hilton Worldwide Holdings Inc. (HLT) – hedge fund net relative weight: 9.47
- PTC Inc. (PTC) – hedge fund net relative weight: 9.46
- Targa Resources Corp. (TRGP) – hedge fund net relative weight: 9.19
- Dollar Tree, Inc. (DLTR) – hedge fund net relative weight: 9.06
- Kenvue, Inc. (KVUE) – hedge fund net relative weight: 8.75
- Western Digital (WDC) – hedge fund net relative weight: 8.62
- Qorvo, Inc. (QRVO) – hedge fund net relative weight: 8.62
- Nasdaq, Inc. (NDAQ) – hedge fund net relative weight: 7.94
- NiSource Inc. (NI) – hedge fund net relative weight: 7.93
- VeriSign, Inc. (VRSN) – hedge fund net relative weight: 7.92
- International Flavors & Fragrances Inc. (IFF) – hedge fund net relative weight: 7.84
- Gen Digital Inc. (GEN) – hedge fund net relative weight: 7.78
