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Hedge funds love these 8 companies

Prashanth PerumalNov 23, 2016, 16:41 IST

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Hedge funds, in their search for outsized returns, prefer some stocks over others.

An equity strategy report released by JPMorgan on Monday offers some insight into stocks most owned by hedge funds. "Hedge funds have been most active in Tech, Consumer, and Health Care names while being underweight Financials, Industrials and yield plays (Utilities, Telecom and REITs)," the note reads.

Kraft Heinz is the undisputed leader among high market-cap companies when it comes to hedge fund interest, with funds owning 25.4% of total outstanding Kraft Heinz shares. Procter & Gamble comes a far second at 6.9%. Not surprisingly, companies with market-cap of less than $50 billion show greater ownership by hedge funds.

Below we rank the top eight stocks (with a market cap of over $100 billion) by hedge fund ownership.