Technology sector exposure was up quarter over quarter in 1Q 2017 across all major institutional long only U.S. strategies covered in the just-released 1Q 2017 eVestment Institutional Stock Ownership Report.
And in spite of financial services exposure falling across almost all strategies covered in the report, Bank of America cracked the top 20 list of overall most widely held stocks by institutional strategies in 1Q 2017 according to the new report.
In addition to ranking the top 20 stocks institutional strategies are holding overall, the report highlights ownership and allocation trends among several U.S. large-, mid- and small-cap equity strategies. The report also looks at key global stock trends, including in the United Kingdom, Japan and emerging markets.
Some other interesting points from the new report include:
- In addition to coming in at No. 17 in overall institutional ownership in 1Q, Bank of America saw the largest quarter over quarter increase in portfolio inclusion among financial services stocks in U.S. Large Cap Growth and U.S. Large Cap Core strategies.
- Technology company Intel fell out of the top 20 of institutional holdings compared to 4Q 2017 and Gilead Sciences, CVS Health and Home Depot fell out of the top 20 compared to 1Q 2016.
- Among UK Equity strategies, Lloyds Banking Group saw the biggest increase in institutional ownership among financials, jumping into the list of top 10 holdings in 1Q.
- In the All Emerging Markets Equity sector, financial services and technology stocks have seen the largest increases in portfolio weight quarter over quarter and comparing Q1 2017 to 1Q 2016. Thanachart Capital saw the largest quarter-over-quarter jump in portfolio inclusion among financial services stocks and Alibaba Group Holding saw the largest quarter-over-quarter jump in portfolio inclusion among technology stocks.
- China stocks saw the biggest jump in portfolio exposure among regional allocations for institutional emerging markets strategies in 1Q 2017, compared to both the previous quarter and 1Q 2016.
The report uses eVestment’s Holdings Analysis solution to review stocks bought, sold or held by asset managers working for institutional investors like pension funds, foundations, endowments, insurance companies and sovereign wealth funds. The ownership trends and weights are the result of overall market movements and increasing or decreasing investor and asset manager interest in particular stocks, sectors or universes and over time offer a unique look at stocks and universes growing in or falling out of favor with institutional investors.
To download a free copy of the full report, please click here.