Active Managers Love Aflac, Hate Microsoft And Berkshire

Apple is one of the S&P 500’s standout performers this year, but rather surprisingly,  global active fund managers are underweight the stock compared to the MSCI AC World Index. This data comes from the latest issue of UBS’s most recent Top 10 crowded trades report. [buffett] Hedge Fund Q3 Letters To compile the report, UBS’s Global Quantitative analysts use institutional ownership data provided by FactSet to form an active trading portfolio by aggregating positions across global active managers. This aggregated active portfolio is then compared to relevant equity index benchmarks to form the active weight. Active Portfolios Love Aflac, Hate Microsoft and…