Billionaire Rokos’s Hedge Fund Bet Billions on Tech in the Second Quarter
- Firm held $2.8 billion of Invesco QQQ Trust at the end of June
- QQQ returned 15% in second quarter, beating S&P 500 benchmark
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Rokos Capital Management bought more than $2.7 billion of shares in the Invesco QQQ Trust last quarter, part of a wager on the technology sector.
The firm, led by billionaire Chris Rokos, held 7.67 million shares of the exchange-traded fund at midyear, up from 232,382 at the end of March, according to a regulatory filing Monday. Rokos, which specializes in macroeconomic bets, also purchased put options on 7.5 million QQQ shares, a possible hedge, along with call options on 1.9 million shares. The ETF tracks the performance of the tech-heavy Nasdaq 100.