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.
In addition to its bet on the QQQ, the hedge fund acquired almost $63 million of call options on Alibaba Group Holding Ltd. and took a new stake in Taiwan Semiconductor Manufacturing Co. with a market value of $103 million as of June 30. The London-based firm, which manages more than $14 billion of assets, also added to its holdings in chipmakers Micron Technology Inc. and Advanced Micro Devices Inc., and boosted its stake in Amazon.com Inc.
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