New figures show
A group of 10 stock-picking hedge funds with the biggest reported equity holdings managed approximately $172 billion in shares at the end of 2017.
This is up from $167 billion in September after net purchases led by the industrial sector.
The funds bought a net $1.23 billion in industrials sector shares, $1.13 billion in consumer staples and $954.1 million in materials in the three-month period.
CSX Corp. made the biggest purchases in the sector during Q4 2017, snapping up stocks worth a net $627.8 million.
Still, Icahn Capital LP had the biggest holdings in industrials among the funds, with a market value of $8.84 billion.
Alphabet Inc. and Amazon.com Inc. topped the list of most bought stocks.
Two most-sold stocks of the quarter were Comcast Corp. and Charter Communications Inc.
“Pure play hedge funds ended 2017 with further investments in the stock markets despite the geopolitical tensions,” said Pavle Sabic, Head of Market Development, S&P Global Market Intelligence. “Total equity positions and total equity assets under management have increased in the fourth quarter suggesting a healthy appetite for stocks in the Industrials, Consumer Staples and Materials sectors.”