The Top Technology, Media and Telecom Hedge Fund hedge fund list has been released, revealing that the top TMT Funds now manage $90.2 billion in equity assets. The top 50 hedge funds allocate $58.8 billion, or 65% of their total equity assets, to TMT stocks.
The Top TMT Hedge Fund List is led by Philippe Laffont’s Coatue Capital, Chase Coleman’s Tiger Global Management and Lee S. Ainslie’s Maverick Capital Management. Notably, the founders of the top three funds all refined their investment acumen while working for Julian Robertson’s Tiger Management. Coatue Capital and Maverick Capital were founded in the 1990s and are considered “Tiger Cubs,” while Tiger Global Management was founded in 2011 and is one of Julian Robertson’s “Tiger Seeds.”
Not only are Tiger Global and Maverick Capital two of the biggest TMT hedge funds, they were also among some of the top performing hedge funds overall in 2012. Tiger Global was #12 and Maverick Capital was #31 on Bloomberg’s 100 Top-Performing Large Hedge Fund list. Tiger Global returned 21% through the first three quarters of 2012, while Maverick Capital returned 16%.
While most of the top TMT hedge funds invest across the Technology, Media and Telecom sectors, eleven funds on the list eschew Media Stocks. Leading the Tech and Telecom only funds are William von Mueffling’s Cantillon Capital Management and John Hurley’s Cavalry Asset Management. As of Q3 2012, Cantillon allocated more than 60% of its portfolio to Tech and Telecom stocks, while Cavalry Asset Management allocated nearly 90%.
Ranking Methodology: The Top 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 HedgeTracker’s Hedge Fund Portal.
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