hedge funds tilted toward growth sectors and away from cyclical and valueoriented areas of the market during last year’s fourth quarter setting them up for a strong start to 2023 the russell 3000 growth index has added more than 7 year to date versus a 2 rise for the value subset of the index “funds increased their net tilt to consumer discretionary by 33 percentage points the largest change in any sector and also lifted exposures to communication services and info tech” in the fourth quarter goldman sachs strategist ben snider wrote this past week “in contrast hedge funds cut net tilts to energy industrials materials and financials”