Name: Hedge funds are piling into healthcare stocks at record levels, Goldman Sachs says
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Hedge funds are piling into healthcare stocks at record levels, Goldman Sachs says

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Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Ben WinckRedeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.Hedge funds are reaching record levels of exposure to healthcare stocks as the coronavirus pandemic rages on, said Friday.The sector sits 10 percentage points overweight across hedge funds compared to the Russell 3000 sector, the bank added, making it the most favored industry among managers. Funds monitored by Goldman are nearly 25% concentrated in healthcare equities, with tech companies following with a 20% weighting.Biotech stocks have been the biggest beneficiary and reached a 2.8 percentage point overweight through the start of the second quarter. The shift has come at a time where investors are rewarding companies working towards COVID treatments. , , and have all skyrocketed in recent sessions after boasting positive results in their efforts to produce a coronavirus treatment.Investors' optimism accelerated hedge fund inflows to the sector, Goldman said in a note, helping cement it as one of the best performers year-to-date.Read more: The stock market's wild moves through the year have also driven greater concentration within fund portfolios, the team led by Ben Snider wrote. The start of the second quarter already featured historically high weighting in growth stocks and defensive industries, and recent weeks pushed even more fund cash into popular mega-caps including and .The average fund now holds 71% of its portfolio in its top 10 stakes, just one percentage point below the record high set in 2019, according to Goldman.&nbsp;Commonality across fund holdings has also soared. The firm's crowding index matches the record high set in the first quarter of 2016. The heavy interest in growth over value stocks helped push Goldman's Hedge Fund VIP basket to a record high in both absolute terms and relative to the S&amp;P 500.Now read more markets coverage from Markets Insider and Business Insider:An icon in the shape of a lightning bolt.Keep readingIt indicates an expandable section or menu, or sometimes previous / next navigation options.Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Ben WinckRedeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.Hedge funds are reaching record levels of exposure to healthcare stocks as the coronavirus pandemic rages on, said Friday.The sector sits 10 percentage points overweight across hedge funds compared to the Russell 3000 sector, the bank added, making it the most favored industry among managers. Funds monitored by Goldman are nearly 25% concentrated in healthcare...

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Hedge funds are piling into healthcare stocks at record levels, Goldman Sachs says

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