The top 10 funds by equity assets as of Aug. 16 added a combined $3.06 billion in consumer discretionary and industrial stocks while selling $1.44 billion in utilities stocks during the second quarter.
As of Aug. 16, the group reported 453 equity stakes worth an aggregate $165.28 billion.
Of the total stakes in the consumer discretionary sector, valued at $20.87 billion, three firms held a combined stake of $3.48 billion in Amazon.com Inc., a net increase of $570.0 million from the previous quarter.
While Viking Global Investors LP reduced its stake in Alibaba Group Holding Ltd. by $888.7 million, an increase of $40.6 million in Lone Pine Capital LLC's stake in the company and $368.3 million in Egerton Capital (UK) LLP's stake was enough to keep Alibaba the second-largest holding in the sector at $2.53 billion, just above JD.com Inc.'s $2.50 billion.
Icahn Capital LP sold its $541.6 million stake in Diamondback Energy Inc. and initiated a $1.87 billion position in Occidental Petroleum Corp., making it the fund's third-largest holding and the energy sector's second-largest holding as of Aug. 16. The top holding in the energy sector also belongs to Icahn Capital for a $3.17 billion stake in CVR Energy Inc.

