PDD - Outperforming The S&P 500 By Trading The Top 10 Stocks From 40 Large Hedge Funds: Trading Update 5/22/2021

• Using the quarterly 13F filings we extract 50 consensus stocks from 40 large hedge funds, each fund with more than $3.5 billion in assets under management.
• After the Q1-2021 13F filings, the consensus holdings are updated, 5 stocks were removed from and 6 added to the universe now holding 48 stocks.
• From 1/2/2016 to date, investing in all 50 stocks, equally weighted, would have produced a total return of 214.4%, an active return of 61.1% when compared to SPY’s 124.9%.
• A strategy selecting 10 of the 50 stocks, equally weighted, would have increased the total return to 177.5%, an active return of 52.6% when compared to SPY.
• Here we report the most recent holdings and the trading signals for 4/26/2021.

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