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Google-owner Alphabet, Microsoft and Alibaba are among the most crowded stocks in the world, according to UBS.

The Swiss bank unveiled its list of the stocks that are the most overweight and underweight — or over and under-owned — by global active fund managers across different regions and countries.

When UBS first devised the measure in 2016, it was to identify potential equity bubbles and quantify how much selling might occur if they popped. Back then, the bank’s analysts warned crowded trades were a risk and susceptible to large selloffs if investors all sold at the same time due to a market shock.