The 50 stocks that matter most to hedge funds underperformed the S&P 500 by 11 percentage points over the past three months, according to research released yesterday by Goldman Sachs. The performance of this group of stocks implies “very weak returns” for long positions held by hedge funds.
Goldman’s basket of stocks that comprise hedge funds’ most concentrated positions has also lagged the broader market in recent months. That result suggests forced selling to cover redemptions and delevering, the Goldman report said.
Stocks most often reported as a top-ten holding within hedge fund portfolios include Qualcomm, Apple, Microsoft, Google and Chesapeake