Market Overview

Core & Growth Money Managers Shun Apple, Hedge Funds Load Up Bullish Trades In Oil

Core & Growth Money Managers Shun Apple, Hedge Funds Load Up Bullish Trades In Oil

Brent crude oil spot price has rebounded roughly 100 percent since February's low. As the market turns and seeks out a new equilibrium, hedge funds have been piling into the long-side of the trade. John Kemp is Reuters market analyst for the oil complex and he's real good at what he does.

In a report reviewing the current state of the oil market, Kemp shared a chart on Page 23 that caught our attention (we added the dotted pink arrows).

Cornerstone Analytics recent oil market commentary favors the contrarian trade. The firm struggles to accept that U.S. crude production is turning around and they believe the contraction in U.S. supplies has yet to play out.

Moving over into the equity space, hedge funds have been increasing exposure in Information Technology names as a rate unseen since 2011, according to data from Goldman Sachs:

Money managers have turned their backs to Apple Inc. (NYSE: AAPL). Goldman's Peter Callahan said Thursday morning, "Apple remains the largest underweight for core and growth managers."

Money managers and hedge funds have both been piling into Information Technology names:

As for the most popular name, Goldman's same note calls attention to the most popular holdings for money mangers. These are names that are not included in the S&P 500 index:


Here are the favored names that are included in the S&P 500 index:

Latest Ratings for AAPL

Sep 2019MaintainsNeutral
Sep 2019MaintainsStrong Buy
Sep 2019MaintainsEqual-Weight

View More Analyst Ratings for AAPL
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Posted-In: John Kemp OilAnalyst Color Hedge Funds Commodities Markets Analyst Ratings General Best of Benzinga


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