Jewel Samad | AFP | Getty Images
Chinese online retail giant Alibaba CEO Jack Ma (C) waves as he arrives at the New York Stock Exchange in New York on September 19, 2014.
The best hedge funds for technology stock picking are betting on China, social media and gaming.
Technology is by far the best-performing S&P 500 sector this year, up 23 percent and raising worries for some that the sector may have gotten ahead of itself. Some hedge funds, however, have outperformed those stellar gains and expect a few high-profile names to rise further.
Hedge funds such as S Squared and Contour scored high in technology stock picking using research firm Symmetric.io’s proprietary indicator called StockAlpha. The measure compares the performance of equities found in more than a thousand hedge funds’ quarterly filings with that of a sector exchange-traded fund, in this case the technology sector ETF.
Filings for second-quarter holdings released in the last week showed that the hedge funds’ top picks included Chinese e-commerce giant Alibaba, Facebook, Microsoft, Activision Blizzard and Liberty Broadband.
Here’s the full list of the funds 10 favorite stocks: