Hedge funds are back in investors’ playbook, but not all hedge funds are feeling the love.

According to Hedge Fund Research (HFR), the hedge fund industry saw a net inflow of $12.6 billion for the first quarter of 2025, following 2024’s net inflows of $10.5 billion. The revived interest was brought by political uncertainties, global divergence with U.S. exceptionalism fading, and heightened market volatility. With the inflow, total global hedge fund capital rose to a record level in the first quarter of 2025, ending the quarter with an estimated assets under management (AUM) of $4.53 trillion. This was the sixth conse

In hindsight, it may seem like the first quarter of 2025 was the calm before the storm in comparison to the whipsaws markets have faced since the start of April. However, despite starting the quarter with strong momentum and a fresh record high, equities slumped and ended the quarter on a weak note driven by mounting tariff uncertainty and softening economic data. Rising macro turbulence and a threat to U.S. tech dominance led institutional investors to act, and the latest 13F filings provide key insights.

A “13F” is a form required by the Securities and Exchange Commission (SEC) for institutional investment managers

Rising Utility: Independent Power Producers in an Electricity Bull Market

The energy landscape, and particularly the market for electricity, is evolving rapidly. Electricity demand and energy infrastructure spending are expected to continue growing over the coming years. Several catalysts have been cited for this growth — grid modernization to support renewable energy, electric vehicle (EV) adoption, and increased electrification broadly. However, the market didn’t credit utility stocks for these supposed growth drivers and only became interested when artificial intelligence (AI) was part of the story. In today’

Despite May's usual reputation for underwhelming performance, U.S. stocks experienced a robust monthly gain. The S&P 500 delivered a total return of 6.3%, marking its biggest gain during the month of May since 1990, and turning positive year to date. Broad equity benchmarks stabilized on optimism surrounding trade deals, encouraging investors to return to previously struggling sectors. Given such a notable return for the month, we decided to dive into the sector components driving those returns and explore themes of what worked.

Sector Performance

Ten out of 11 sectors experienced gains in May, with the three largest