Hedge Funds

Boston Scientific, Sprint among hedge fund favorites


At the end of March, hedge funds had collectively built up concentrated positions in a select group of U.S. stocks, with Boston Scientific and Sprint Nextel emerging as favorites, according to new research by Goldman Sachs.

Goldman's analysis of recent filings with the U.S. Securities and Exchange Commission also found that at the end of the first quarter, hedge fund portfolios were tilted toward smaller companies and consumer discretionary stocks, while portfolios were "dramatically underweight" on financials and consumer staples. Turnover was also less than Goldman had expected, with most holdings (66%) remaining constant through the first quarter.