(This story is for CNBC Pro subscribers only.)
A tech-focused hedge fund is trouncing the market by betting big on the e-commerce space, which many on Wall Street consider a growth industry even after the pandemic boost is over.
The fund has been one of the best-performing in the industry this year, returning 15% on its long equity positions, and it also has a long track record of beating the market. Here's a look at its top holdings in a sector that has been leading the market comeback.
Alkeon Capital Management, a New York-based hedge fund, has crushed the broader market this year by its increased wagers on mega-cap tech firms, online retailers as well as work-from-home plays.
CNBC Pro used Symmetric.io, a hedge-fund tracking firm, to find under-the-radar top stock pickers this year. Unlike funds manged by star investors like David Einhorn and Bill Ackman, Alkeon Capital is run by smaller and lesser-known managers. Its 15% return in 2020 is based on Symmetric's estimate based on the fund's long positions, not its overall return.
Here are Alkeon Capital's top 20 holdings as of the end of the first quarter, based on the latest regulatory filing.