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Bloomberg
As the world began to go into lockdown, the biggest money managers loaded up on quarantine stocks.
Netflix Inc., Peloton Interactive Inc., Amazon.com Inc. and Zoom Video Communications Inc. were some of the most sought-after names in the first quarter, according to regulatory filings. George Soros, Stan Druckenmiller and Philippe Laffont were among the managers piling into such stocks.
The filings offer a glimpse into the maneuvering by major hedge fund managers and other investors during the coronavirus-fueled market rout that brought the global economy to a standstill. The S&P 500 Index fell 20% in the first three months of 2020, its biggest drop in more than a decade.
So far this year, each of the four stocks has soared double-digits as people hunkered down and reverted to television binging, at-home workouts, online shopping and video chatting. Notably, Zoom surged 157% through May 15. However, exercise company Peloton saw its big rally after a first-quarter decline, and is now up about 70% for the year.