How did some of the world's richest investors play the tech rally and this AI hype cycle in the latest quarter?

Our Leslie Picker has the wrap on those 13 fs for us in today's tech check Leslie.

I don't know about you. It kind of felt to me like

there were more interesting layers in this particular round of filings.

Yeah, you're absolutely right Carl and those who leaned into that tech rally

and AI hype certainly saw it pay off in terms of returns according

to HFR which collects aggregate hedge fund data. Tech focused hedge funds

were the best performing strategy group among 28 hedge fund strategies they study.

Tech funds return 3.4% in July alone helping notch gains of about 15% year to date.

That's about three times the performance of the average hedge fund, although still trailing the

S&P.

Hedge funds were big buyers of AI plays during the quarter with the group adding, for example,

16 million shares of NVIDIA and 12 million shares of Microsoft.

Third Point and D1 were among the new firms,

or among the firms adding new stakes in NVIDIA,

Appleusa boosted exposure to tech broadly buying shares of Alphabet, Amazon,

Apple, Intel, Meta, Microsoft, and Invidia.

And Co2 bought more of Amazon and Microsoft, but paired back a bit in Meta.

Tiger Global reduced its exposure selling some of alphabet, Amazon and

dissolving a stake in Apple.

According to B of A, going long, big tech continues to be the most crowded trade for the fourth month in a row and you can really see that come true in some of these filings we dug through guys.

Leslie, and I know we were talking a little bit about Tiger and it's come back this year,

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