Restructuring__

I have massive respect for Viking One of the few hedge funds that actually runs a disciplined portfolio Everyone in a bull market forgets what happens when the tide turns, see 2022 below Serious question, if you are an LP, which of the below do you prefer? 1) Viking: actually provides lower vol 2) Whale Rock: smart levered beta 3) Coatue: somewhere in between

Wall Street's sharpest hedge funds are reading the same market and reaching opposite conclusions. Viking Global, with more than $50bn, cut net exposure below its historical average, wary of stretched AI valuations, heavy capex, and a fragile backdrop of slowing US growth. It limped to a 0.8% gain over five months, while Renaissance's models fell 6.6% in May and 11% on the year. Coatue is up 19% this year, betting an AI super-cycle is just beginning. Avala Global and Whale Rock have surged 41% and 58%. Avala alone jumped 31% in May, riding bets on Amazon, Nvidia, and Microsoft. Just six stocks make up a third of the Nasdaq 100, which shed 4.8% on June 5 in its worst day in two months. Tech-focused funds now carry their heaviest Nasdaq exposure since 1998, double the historical norm.