The latest Top Technology, Media and Telecom Hedge Fund list has been released, revealing that the top 75 Funds currently manage $188 billion in assets. Nineteen of the hedge funds on the top TMT list have seen their assets increase by more than $50 million year-to-date. Leading the gainers are two London-based funds, Egerton Capital LP (+$855M) and LMR Partners LLP (+608M).
Not surprisingly, Manhattan is home to forty of the top 75 TMT hedge funds.While Manhattan is king, the Bay Area and London are still very much relevant, claiming the headquarters for 9 and 7 of the top hedge funds, respectively.
For the fifth consecutive quarter, Steve Mandel's Lone Pine Capital held on to the top spot on the list. Lone Pine's sector favorites include: 7.2% of its portfolio in Microsoft Corp (NASDAQ:MSFT), 6.6% in Facebook (NASDAQ:FB), 6.% in Amazon.com (NASDAQ:AMZN), and 5.2% in The Priceline Group (PCLN).
With $7.8 billion in TMT Assets, Philippe Laffont's Coatue Capital moved up one spot to claim the #2 spot on the list. Like Lone Pine, Coatue is also a fan of Facebook and Microsoft, which account for 8.1% and 7.4% of the fund's assets, respectively.
Ranking Methodology: The Top 75 TMT Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms' overall U.S. equity assets under management. The TMT list includes the top hedge funds that have more than 50% of their U.S. equity assets invested in U.S. listed Technology, Media and Telecom companies. To view the Top TMT Hedge Fund list in its entirety, please visit the Top Hedge Fund portal.
Disclosure: I am/we are long MSFT, FB.