The greatest hedge funds discovered a slew of latest stocks to select up in the second quarter because the market bounced off the April lows, in accordance with Morgan Stanley. The Wall Street agency appeared on the newest regulatory 13F filings from the highest 100 hedge funds by belongings beneath administration to assist traders assess how positioning shifted in the final quarter. Top skilled merchants piled into photo voltaic inventory Enphase Energy , with energetic possession rising almost 8%, Morgan Stanley discovered. The photo voltaic inventory could possibly be a price wager, having tumbled greater than 46% this 12 months. The inventory took a beating final month after the agency issued third-quarter income steering that got here under Wall Street estimates. Enphase mentioned tariffs had affected its gross margin. Hedge funds additionally ramped up their publicity to on line casino operator MGM Resorts . After a troublesome begin to the 12 months because of tariff issues, MGM inventory bounced again considerably and is now up 6% 12 months so far. The inventory acquired a lift in June after BetMGM, which is collectively owned by MGM and Entain, up to date its steering for the complete 12 months. Packaged items manufacturers Campbell’s and J.M. Smucker additionally gained reputation among the many greatest hedge funds, as did insurance coverage brokerage agency Brown & Brown and pharmaceutical firm Charles River Laboratories , in accordance with Morgan Stanley. These holdings mirror positions as of the top of June, and allocations might have modified since then.